Ever wondered what income-producing activities you should be focused on daily to make more sales?

In today’s training, we will talk about the 3 markets you need to target & what consistent activities you need to do for each area that leads to you having more clients in your business.

THE 3 MARKETS FOR INCOME-PRODUCING ACTIVITIES

Most business owners want sales but a common issue we see here at Passion Profit CEO is there are gaps in the business plan.

There are 3 groups (markets) of people in your business that you should be marketing to consistently.

In order to have a complete business plan, you have to have strategies in place to target all 3 of your markets regularly making a holistic operation system for your business.

These markets are known as the cold market, warm market, & hot market.

Let’s dive deeper & define each.

THIS WEEK’S TRAINING

Did you know? Generally, only 10% of your audience is ever ready to buy when you are selling.

DEFINING THE COLD MARKET

The cold market does not know you or your business exists.

This is where the most common gap is usually found here at Passion Profit CEO in our client’s business plans when we conduct audits due to complaints of “needing more clients” & “no sales in business”.

In order for people to buy, you have to have a hot audience.

To have consistent sales, you have to consistently put effort into growing your audience.

This then increases the number of the 10% who are ready to buy.

Let’s do the math for a visual example:

You start your business & the only people who know about it are the 10 friends/family members you talk to regularly.

That leaves you with the potential to get MAYBE 1 sale IF any of those friends & family members are your ideal client & interested in your offer.

Now, if you add in a consistent strategy to add 10 new audience members per day, by day 5, you will have 50 people in your audience.

This then increases your chances of a sale to approximately 6 customers if everything is aligned & you are growing your audience with the right people and not just anyone.

The strategy used for this market is called visibility and/or audience growth.

COLD MARKET INCOME-PRODUCING ACTIVITIES

Growing an audience can look like many things so here are a few examples of strategies you could potentially put in place to grow your cold market:

• Adding friends on social media
• Posting in other people’s Facebook groups
• Paid advertisements
• Sharing business cards
• Flyers
• Speed Networking

DEFINING THE WARM MARKET

Your warm market in combination with your hot market is what actually makes up your business’ audience a.k.a. followers or lead list.

The people in your warm market are those who have recently learned about you & your business but they have questions & need further information & validation that you are the right fit for them.

This is where know, like, & trust starts being developed.

Your warm market is naturally curious & wants to know more but they don’t necessarily want to talk to you just yet.

Thus, the reason marketing & a value hub are important is because they build credibility & position you as the expert validating that you can help them with their problem.

Once introduced fully to your business, your audience begins recognizing your brand & knows what your business is all about.

This strategy is commonly called content creation & valuable nurturing.

WARM MARKET INCOME-PRODUCING ACTIVITIES

To educate & gain more trust from your warm market, some common strategies can include:

• Posting a blog post
• Sending an email newsletter
• Posting a Youtube Video
• Posting on your social media
• Hosting a webinar or masterclass

DEFINING THE HOT MARKET

A hot market is the portion of your audience literally waiting for you to sell to them.

Once you have sold to them, they raise their hand & pull out their wallet to pay you.

This strategy is known as sales.

Ironically enough, sales are the second-biggest gap we see in our client’s business plans here at Passion Profit CEO.

Most of our clients aren’t aware of sales strategies that align with their personality & skillset let alone thinking of how their ideal client’s typically like to buy.

Generally, people associate sales with the salesperson identity that has a bold personality & is confident in cold pitch sales.

That salesperson identity is okay with cold pitching within 1 minute of meeting you.

Our clients typically aren’t the salesperson archetype identity & this creates gaps of inconsistency in the business plan because the action of selling is super uncomfortable for them.

For these types of individuals when it comes to sales you simply don’t have a sustainable consistent strategy in place that aligns with your willingness to sell on repeat.

If this is you, it’s time to fill the gap & learn the strategies that replace those hardcore sales tactics that you are not aligned with.

Be sure to check out the video below to learn more about which sales identity you are & what strategies are best for you.

HOT MARKET INCOME-PRODUCING ACTIVITIES

Typical sales strategies can include:

• Referrals
• Product Mentions
• Invitations
• Direct Verbal Sales
• Direct Graphic Sales

CONCLUSION & WISDOM

If you want more sales, it is important to your success that you have strategies that work together to consistently target all 3 markets to create your unique business marketing & sales baseline system.

The main thing is to pick one solid 3-part strategy & use it consistently in your business.

Here at Passion Profit CEO, we call this your Power Hour so that you can quickly & easily grow your business in just 1 hour a day.

If & when you have extra time to devote to marketing & sales you can always add more strategies for that particular day.

Many people try to change their master baseline strategy too often.

This often creates gaps in your business plan.

It’s not wise to alter your master strategy until you have implemented it for several months & have carefully reviewed the analytics to know which parts are working & which are not.

Once you find the simple strategy that works for you, then, you can up-level & scale by adding in more automated strategies so that your business works while you live more of your life on your terms.

NOT SURE WHAT STRATEGIES ARE BEST FOR YOUR BUSINESS?

Feel like you might have gaps in your business plan?

Check out this free in-depth training on The Homerun Conversion System so you can learn more about how 6-Figure+ businesses operate with intention & audit your business for gaps.

If you still aren’t sure what your business needs, schedule an audit & we will find your gaps plus assist you in creating a customized plan for your business so that you can quickly start seeing more income in your business while working less & more intentionally.

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