Before you can start optimising your customers, you need to know who your ideal customer is, where they are, and what they will buy. Download our proven Customer Avatar Worksheet now and get clear on who you’re selling to.
January 06, 2020 By Dawie de Villiers
You’ve finally found it…
The “treasure map” to building an unstoppable business.
We call it the Customer Value Optimisation process.
If you’re not familiar with how we do things here at Finovate Amplified, this is the first article you should read. It teaches you the foundational principles of digital marketing. And even if you’re a salty FA veteran, you might still want to reread this from time to time as a refresher. It’s that important.
What you’re about to get in this article is a holistic view of how the marketing process works when it’s done right. This is vital to understand because all marketers and entrepreneurs are at various levels of STUCK. There’s so much to learn – and the marketing space is changing so rapidly – that no one can keep up with every little shift in the market. But when you understand the big-picture view…
When you can see how all the different pieces are meant to work together…
You’ll know how to create a SYSTEM that works to efficiently and repeatedly attract new prospects, convert them into customers, and get the maximum profit out of the process. Sound like something you’d like to have? Then let’s get right to it.
This is the system Starbucks and McDonald’s used to corner the coffee and hamburger markets. It’s the same system Amazon uses to dominate e-commerce. It’s how BOS Ice Tea, Nike and Sports Illustrated have become household names.
It works for small, medium, and enterprise-level businesses. It works for pop-up shops and million-rand retailers. It works whether you sell traditional products, digital products, or services.
This system works because it exploits each and every aspect of the irrefutable law of business growth put forth by legendary marketer Jay Abraham. He teaches that there are only 3 ways to grow a business:
- Increase the number of customers
- Increase the average transaction value per customer
- Increase the number of transactions per customer
If you think about it, this makes perfect sense.
And the system you’re about to learn – we call it Customer Value Optimisation or CVO – leverages all 3 business growth methods. That’s what makes it so powerful.
So read this page carefully. Read it multiple times, and commit it to memory.
This is the stuff the world’s best marketers and entrepreneurs know and use daily—but it isn’t taught in any business school. (NOTE: Before you can start optimising your customers, you need to know who your ideal customer is, where they are, and what they will buy. Download our proven Customer Avatar Worksheet now and get clear on who you’re selling to.)
Learn the Steps to Customer Value Optimisation
This handy flowchart outlines the CVO system:
Print this PDF and tack it to the wall next to your work station. If you intend to execute this plan, you’ll need to reference it often.
This is your big-picture treasure map to building an unstoppable business. Anytime you’re learning a new tactic – whether it’s Facebook marketing, Google Analytics, search engine optimisation (SEO), and so on – you’ll want to check in to see which part of the Customer Value Optimisation process that tactic fits into. Otherwise, you’re liable to end up wasting your time and money.
Take this as a WARNING: There is little profit in understanding, for example, Pinterest advertising or email marketing in and of itself. Because individual tactics like that represent just one piece of the whole.
But there is an ENORMOUS profit in understanding how to apply these traffic strategies within the context of the CVO process. Here is a flowchart of the entire Customer Value Optimisation system:
When you break it down, there are 7 steps to Customer Value Optimisation:
- Determine Product/Market Fit
- Choose a Traffic Source
- Offer a Lead Magnet
- Offer a Tripwire
- Offer a Core Product
- Offer a Profit Maximizer
- Create the Return Path
Lean into this article and pay close attention—we’re about to reveal the EXACT process we use to sell products and services in multiple niche markets and mainstream verticals including:
- Finance and Investing
- Men’s Clothing
- Home Improvement
- Survival and Preparedness
- … just to name a few.
Let’s begin with:
Step 1: Determine Product/Market Fit
We begin the Customer Value Optimisation process by getting clear on the most important person in your business: your customer. At its core, business is pretty simple. We get paid to move these customers from an undesirable “Before” state to a desirable “After” state.
In the “Before” state, the customer is discontent in some way. They might be in pain, bored, frightened, or unhappy for any number of reasons. In the “After” state, life is better. They are free of pain, entertained, or unafraid of what previously plagued them.
People don’t buy products or services. They buy transformations. AKA outcomes.
AKA a more desirable “After” state.
This means that a good OFFER will deliver the “After” state the person wants. And good MARKETING will articulate that transformation from “Before” to “After.”
The flip side is also true: when a new business fails, it’s often because it FAILED to either:
- Offer a desired “After” state (the offer was no good)
- Articulate the movement from “Before” to “After” (the marketing was no good)
Needless to say, getting clear on the desired outcome your offer delivers is fundamental to the success of your business.
Here’s how to get that clarity.
The 10-Question “Before & After” Grid
Before you create or market another offer, ask yourself these 10 questions:
- What does your prospect HAVE in the “Before” state? What does your prospect HAVE in the “After” state?
- How does your prospect FEEL in the “Before” state? How does your prospect FEEL in the “After” state?
- What is an AVERAGE DAY like for your prospect in the “Before” state? What is an AVERAGE DAY like for your prospect in the “After” state
- What is your prospect’s STATUS in the “Before” state? What is your prospect’s STATUS in the “After” state?
- What is an EVIL that is plaguing the prospect in the “Before” state? How does your prospect conquer it and bring more GOOD to the world in the “After” state?
Just put your answers in a simple table like this:
Here’s an example, using our own company Finovate Amplified. How do we help our customers achieve a positive transformation in their lives?
For this example, we’re going to use our “Marketing Executives” avatar. So these people are in charge of a marketing department—usually the CMO, the VP of Marketing, or the Director of Marketing.
We know from experience that people in these positions run into a lot of problems. A lot of undesirable “Before” states. So, we’ve created workshops that can help solve those problems and deliver the “After” states these people really want. How do we do it? By transforming the marketing executive:
- From HAVING a disorganised team… to having a team that’s a well-oiled machine
- From FEELING frustrated, overwhelmed, and scared of losing their job… to feeling confident and in control
- From having an AVERAGE DAY in which they have to “coach up” under-performing team members… to an average day in which they’re free to focus on big-picture strategy because they can trust their other team members to take care of the details correctly
- From a STATUS of being disrespected and behind the times… to a status of being respected, up-to-date, and even up for a promotion
- From the EVIL of being a victim of an old-school university model that doesn’t prepare graduates for the realities of marketing today… to the GOOD of helping to train the marketing leaders of the future
Average marketers only articulate what a customer will HAVE if they purchase their product or service.
Great marketers speak to the transformations around how the customer will FEEL, how their AVERAGE DAY will change, how their STATUS will elevate, and how they will solve an EVIL in the world (making them a real-life hero).
With this simple 10-question “Before & After” Grid, any half-decent copywriter will be able to create a marketing message that will have an impact.
The marketing copy writes itself now that you are clear on the “Before” and “After”:
- “Turn your disorganised team into a well-oiled machine that’s ready to kick some serious marketing butt.”
- “Tired of having to ‘coach up’ your team day after day? With Finovate Amplified, you’ll be free to step back and focus on the big-picture strategy.”
- “Just imagine feeling confident and respected in meetings, knowing that your next promotion or sale is coming soon.”
Do you see how this copy clearly articulates how the product will move a marketing executive from a “Before” state of stress and frustration to an “After” state of confidence and success?
It’s powerful stuff.
Make sure to complete the Before & After Grid for ALL of your customer avatars, because each customer segment will go through a different transformation. Understanding how you will transform your prospect from a “Before” state to a desired “After” state also impacts. (NOTE: Before you can start optimising your customers, you need to know who your ideal customer is, where they are, and what they will buy. Download our proven Customer Avatar Worksheet now and get clear on who you’re selling to.)
If you’re not able to clearly articulate how you can take your prospect from the “Before” state to a desired “After” state, you may have an issue with Product/Market Fit.
Product/Market Fit may be the single most important part of the entire Customer Value Optimisation system. Simply, because every other part of the process is dependent upon having a group of willing and able buyers. Once you have that group of buyers, the next step is to find a way to bring those people to your website. Which is in our next blog – Step 2: Choose a traffic source.