If you haven’t heard of them before, “The 8 Profit Activators” is a clever concept developed by Dean Jackson and Joe Polish (awesome marketers). So to start off this blog post series on “The 8 Profit Activators”, I’d like to give a nod of appreciation to the creators of this amazing system – THANK YOU DEAN AND JOE for sharing this knowledge with all of us.
Speaking from personal experience, I can tell you that the Profit Activators are an elegant, yet simple way to look at your business in a whole new light. Doing this has enabled me to boost my income considerably.
And applying these proven profit boosting concepts in your own business doesn’t cost you a thing but taking a few minutes to learn how they work.
And that’s exactly what I’m going to do in this 4 part blog post series.
A Brief Overview…
The 8 Profit Activators work by taking your business and, instead of looking at it as one amalgamation of “stuff”, breaking it down into three units – the Before Unit, the During Unit and the After Unit.
Each unit has its own profit activators
The Before Unit Has 3:
Profit Activator #1
Narrow Your Focus and Select ONE Target Market (at a time)
Profit Activator #2
Use Direct Response Offers To Compel Prospects To Call YOU
Profit Activator #3
Patiently And Systematically Educate And Motivate Prospects To Meet You… When they’re Ready!
The During Unit Has 2:
Profit Activator #4
Present Your Unique Service Offer in a Way That Makes It EASY To Get Started
Profit Activator #5
Deliver a “Dream Come True” Experience Designed from Your Client’s Perspective
And The After Unit Has 3:
Profit Activator #6
Provide after Sale Service – Even After you’ve Already Been Paid
Profit Activator #7
Nurture Lifetime Relationships and Focus on Lifetime Value
Profit Activator #8
Orchestrate Referrals by Giving Your Clients the Opportunity to Feel Great
This way of looking at your business enables you to effectively optimize each aspect of it to achieve the best results possible.
In this blog post, we’re going to look at the before unit. This is likened to window shopping at a retail storefront. It’s what happens before the customer starts to interact with your business, and it’s crucial to getting them in the door – either literally or digitally.
Profit Activator #1 – Narrow Your Focus and Select ONE Target Market (at a time)
This crucial piece of advice is probably going to go against everything you’ve ever heard about how to market. You’ve probably been told that you should aim for the biggest piece of the pie – so ALL internet marketers, or ALL dog owners or ALL Facebook users, etc. But Dean advises his students to only go after one target market at a time.
The example he gives is of the photography industry. If you’re into photography and want to turn it into a business, why not get the broadest swath possible of customers? You could do portraits, weddings, corporate photos, and so on – but by limiting your market to one specific niche, you’re virtually guaranteed to become the recognized authority on that topic.
For example – We Shoot Bottles at www.weshootbottles.com has dominated the bottle photography marketplace simply because it’s all they do, and they do it very well.
But, of course, you don’t want to literally limit yourself to just one market – but rather one at a time. Beyond We Shoot Bottles, there’s also www.weshootcans.com for your canned goods photography needs.
This U.K. based photography company has taken something as large and varied as product photography, and truly made a name for themselves with some big brands.
How to Select Your Ideal Market
The question to ask yourself when considering which market to focus on is this – what is one thing that you’re extremely good at, that can serve one group of people very well? It’s realistic to want to serve as many people as possible, but in order to make the profit activators work for you; you’ll want to start off by concentrating on Profit Activator #1.
This is laying the foundation and doing the groundwork for a viable business model that, according to Dean, will last you “20 years or more”. Even as technology changes and adapts, you’ll still be here, serving this single market to the best of your ability.
If you want more help discovering the perfect niche for you; click here to get a copy of my best selling niche research course. And if you already own it then you have everything you need to put profit activator #1 in place.
What Happens Next?
In next weeks blog post, I’ll walk you through Profit Activator #2, which builds on what you’ve learned here. It’s all about engaging your new-found target market and encouraging them to get in touch with you.
In the meantime please share your opinion on “The 8 Profit Activators” concept or questions on Profit Activator #1 by leaving a comment below.