The Journey w/ Jason Le The Journey w/ Jason Le

Niching down allows your business to become a big fish in a small pond. By targeting a specific segment of the market, your offerings can be tailored to meet the unique needs and preferences of your audience, thereby increasing your value proposition and customer loyalty. This is a real-life example of why niching works.

Many businesses fail to analyse the impacts of promoting multiple SKUs

The lifetime value of your customers is different depending on which products your customers bought first

Think about the user journey for each product

From the point of unboxing your product
To feeling the quality your product
To using your product

Each product has a different experience

And, most of the time, your most popular products have that "magic moment" that makes your customers fall in love with your brand and buy more

The mistake brand owners make is thinking every product has this magic moment

As a result, they promote 100's of different SKUs for new customers

But, what if the first product a new customer buys from you isn't your best product?

Your customers have a terrible experience and don't end up becoming a long-term customer

Because the only time your new customers gave you a chance, you blew it

So, it's in our best interest that if we want to scale, we want to control the user experience and ensure any new customers we bring onboard have the best purchase experience as possible

And the way to do that, is to focus on the products that produced the highest LTV overtime

Don't just analyse the effectiveness of products from a 1-time purchase

Analyse your products from a lifetime value perspect

Is it better to be niche or be a generalist and market to everyone?

Something to consider is your target market doesn't necessarily have to be your only target market.

Just because you market to one particular segment, it doesn't mean you don't take on other types of customers.

But, if you want to stand out and gain traction, you need to be known for something.

When you pick everything, you are nothing to nobody.

When you pick one thing, you are something to somebody.

It is better to go narrow and then go wide in your marketing.

But that doesn't mean in the beginning you have to turn away customers.

You can have your cake and eat it too.

Just don't tell anyone you had both.

Whether you're a budding entrepreneur, a seasoned leader, or a team manager, understanding the dynamics of effective people management and culture building is key to unlocking your team's full potential.

In this episode, we explore:

- The core principles of managing people in today's diverse and dynamic work environment.
- Strategies for fostering a winning culture that promotes growth, innovation, and resilience.
- The role of communication, recognition, and shared values in building a cohesive and motivated team.
- Practical tips for overcoming common management challenges and enhancing team productivity.

Join us as we delve into the art and science of transforming your workplace through strategic leadership and cultural excellence.

Learn how to inspire, motivate, and guide your team towards unparalleled success.

Everyone claims to have the best quality product.

This is a mistake.

A lot of companies focus on features that logically make their product more superior than competitors.

But, the problem is you're seen as just another brand claiming to be the best.

Marketing is a game of mental warfare.

It's not a battle of who has the best products, it's a battle of who has the best perceptions.

So, to differentiate your product against your competitors, it's important to focus on benefits.

Benefits are what people actually care about.

It's the emotions that people feel that drive behaviour.

If you're looking to differentiate your business, focus on the emotions and benefits of your product.

Facebook Pixels For Lead Generation Campaigns by The Journey w/ Jason Le