Traffic sources for business are all about knowing which one is the best ones to use. There are lots of new channels coming out and the shiny object syndrome comes up. Tune in to the most effective ones.
Davis takes online businesses to 7 figures within a year.
So far – coaching and info-product businesses.
Created a local store.
Lesson: perseverance as a value (overcame Robbery and arson).
Worked at a startup before became an entrepreneur
Started a side hustle in the living room while working at another company
Wanted to be able to work anywhere
Now lives/works in Asia or the USA (mostly San Francisco).
6 figure profit first year
7 figure profit second year
Did have one physical product
– tried to build a comfortable hiking boot
There are lots of new channels coming out when you try to find traffic sources for business.
Manychat was the business channel of choice in 2019.
Shiny object syndrome comes up.
Instead, Davis works on first principles.
Give people the mindset of how to find traffic sources for business.
There are 2 axes on which to assess a traffic source:
Eg Reddit, gaming platforms etc. – Reddit passionate community – $800.$1200
And not many competitors.
Davis’s target audience is those who want to be management consultants for example
That’s related to low competition
Example -Selling podia
Toastmasters international – sponsor those guys
How do you find where the audience is?
Literally talk to your customers!
Find out about traffic sources for business.
Example – ran the public speaking business –
Also, think offline as well as online – for example:
Find out EVERYTHING about your target client:
You can’t just call people on Amazon. But you can get mailing addresses, so you could write to them (physical postcards for example)
We have a concept of who your audience is, but in reality, things emerge
Davis’s Client was looking out for doing offline marketing. They did an hour of reading reviews.
Identified a group of unexpected buyers on one listing: Probably parents – buying for PTA clubs. They checked the competition – the same picture.
So now the client is making a list of PTAs.
Think about how they found you.
If someone is willing to read a postcard from you, they are a fan
It’s not very scalable, but that’s not relevant to the exercise: we just need to really understand the target customer (NOT try to reach lots of them)
First of all, Toastmasters, for example, might be 300,000 people
Secondly, don’t worry about scalability.
“Do things that don’t Scale” – Paul Graham (the founder of Y-Combinator – the most successful startup accelerator in the world, incubator of eg Reddit, Twitter etc.)
Davis used to spend 7 figures on ads in a company
It does work – but it works if you know what you’re doing.
He consulted with a casket company [coffins!] …and still made it work on FaceBook.
The question is, however: is this the best use of your time?
If it could be on multiple platforms, which is an easier start for your particular audience?
Scenario: selling $100s on Amazon
How do we get to the customers?
Remember that customers you think are the target are often not who the ones who buy; or the traditional use (eg yoga) is not necessarily the actual use.
For example, Davis was building a gym in the garage.
He was looking for padding.
And the best product for that was yoga mats!
If you look at the reviews, you can kind of tell the kind of personality
But they were positioned as yoga mats!
Most of the competition DON’T read reviews.
Don’t just use reviews to tell you how to make the product “better”.
Sure, 3-4 reviews tell you how to make it better.
But 5-star reviews often give you a different use case.
Amazon consumers are in fact hard to address.
Getting them on the phone is tricky
But we do have the shipping address
Sometimes “Personalised” postcards can work really well to make small scale but high-value connections, saying a few things:
Some of the services Davis uses to give a physical address – get a flyer for a regional event.
Sometimes as a consumer, Davis buys things on page 2 of Amazon.
Recently, Davis got a personalised card in something product packaging.
There was a number he could reach and call out.
Davis actually called the number…and he looked at their revised sales description; he felt that he basically wrote their new sales description as a consumer.
They actually moved onto page 1!
He Started with a handwritten postcards
Two people lived in the offices because they actually lived in the area!
If in area, dropped by the office for wonderful products.