Captivating Your Audience: The Magic Formula
What does it mean to captivate an audience?
In the realm of business, especially when working with early-stage companies developing their go-to-market strategies, we've been focusing on identifying and captivating our target audience. Here, a captivated audience is one that is deeply engaged, attentive, and receptive to your value proposition. But how do we achieve this? It can be distilled into a simple formula:
Mission Critical Problem + No-Brainer Solution = Captivated Audience
The Mission Critical Problem
A mission critical problem is a pressing issue that a company cannot ignore and needs to address, even in a downturn. It is a problem that has a direct impact on the company's bottom line or its ability to operate effectively. The first step in captivating an audience is to be crystal clear about who they are selling to, why the customer is buying, and the immediacy of their need1. The more immediate and compelling the problem that you solve, the more captivated your audience will be.
Getting deeply ingrained into the problems your customers face is crucial. Understanding their pain points, motivations, and needs helps you to frame your solution in a way that addresses these issues effectively. However, it's important to note that the person feeling the pain isn't always the one controlling the budget. The pain point may not be relevant or important to those who hold the purse strings, at least not until you demonstrate how it directly affects their bottom line.
Here's where it gets interesting. The users of your solution, the ones who directly benefit from it, may not always be the best advocates for your product. They might struggle to articulate their pain in a way that frames it as a top three problem for the company. To overcome this hurdle, it's your job to help them navigate this conversation, making their pain point visible and tying it directly to the company's financials.
The No-Brainer Solution
The no-brainer solution is your company's response to the mission critical problem. It's the best solution at the right price, with the most manageable adoption pain. This solution should be so compelling and beneficial that the client experiences the least amount of objections or resistance as possible.
The key to a no-brainer solution lies in its proximity to the company's financials. The further away the problem is from the revenue or margins, and the person signing off on the purchase, the greater the resistance to conversion will be2. Therefore, it's crucial to tie your solution directly to revenue generation or margin improvement. This way, the person signing off on the purchase can clearly see the financial benefit of your solution, making it a no-brainer decision.
The Captivated Audience
When you identify the mission critical problem and present the no-brainer solution, you create a captivated audience. The goal is to increase conversion first, then dial up efforts to acquire more of a similar audience. As you scale, it's important to normalize the conversion rate to maintain a steady growth trajectory3.
In conclusion, captivating your audience is all about understanding their problems, tying these problems to their financials, and providing a clear, compelling solution that makes financial sense. This strategy not only helps to captivate your audience but also to convert them into loyal customers.