“So if you have multiple audiences, categorize based on problem not based on product.” – Rajiv ‘RajNATION’ Nathan in today’s Tip 231
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Scott Ingram: You’re listening to the Daily Sales Tips podcast and I’m your host, Scott Ingram. Today’s tip comes from Rajiv Nathan, otherwise known as ‘RajNATION.’ RajNATION is the founder of Startup Hypeman where he helps startups not suck at how they pitch and tell their story, so they stand out to customers and stand apart from their competitors. Here he is with today’s tip:
Rajiv Nathan: Recently I was speaking at a Conference on the importance of pitching and how to pitch and all that good stuff. And at the end of my talk, there were a few minutes left over for Q and A. Now one person raised their hands and asked me what to do when you actually have multiple products and multiple audiences as a result. So you don’t just sell one product or one service to one narrowly defined market. You’ve actually got several buyers, you’ve got several types of buyers and a handful of products or services under your belt as well. And my answer to them was “It is really about organizing the information that you have in front of you based on the problem set or sets that your audience’s experience.” Here’s what I mean by that. A lot of companies, when they have multiple audiences will decide to categorize it based on the products that they sell. So let’s say its software companies selling something that’s to do with like sales and marketing software. So they will have their lead generation software and separate from that they will have their marketing attribution software. And maybe a third thing they would have would be, I don’t know, maybe something around like IT and how that has to do with the whole thing. So what that company would do in most cases is say, Okay, these are our three products who fit into each of these product categories. And that is actually a backward way of thinking about it. What you want to do instead is categorize based on problems set. So there’s a company I worked with out of Australia. And they actually, believe it or not, had 19 different submarkets or sub audiences. And this really was actually for only one service, one, one piece of software they were providing and they were selling specifically into the wellness practitioner market. So think of things like, or think of audiences like chiropractors, massage therapists, psychotherapists, personal trainers, yoga studios, politely studios, and things of that nature, the general wellness and wellbeing market. And they actually add as they identified 19 different potential buyers between those different disciplines. So again, what most companies would do is try to lump this based on the product they sell. But we actually took the opposite approach and we said, “Okay, what are the unique problems each of these markets face?” And after looking at the unique problems, the different markets face, we’re able to say, okay, you know what, these five markets, chiropractors, massage therapists and podiatrists and whatever else, they actually all have the same problem. So they get the same pitch. We just swap out a chiropractor for podiatrist and myotherapists versus another set of sub audiences that they had. So what we were able to do was take those 19 markets and break it down to about four or five by categorizing it based on the problems that they experienced. And the product was actually not really, I mean it was the same product at the end of the day for each individual audience. The key is what is their entry point into that product. What are they thinking about that gets them to the point of considering this product? And that’s why we categorize around the problem. Cause if you get that right, then you can naturally develop the solution for them. And I don’t mean develop meeting, you’re building something new. I mean logically you develop the solution for them if they see you understand their problem. So when you have multiple audiences. Categorize them based on the problems that are experienced, right? Don’t categorize based on product categorize based on problem. And what has helped that company. Do you know who can remember 19 pitches, right? So instead of only being able to only having to remember four or five works really well for them and they’ve been able to onboard hundreds of practitioners every month onto their platform. So if you have multiple audiences, categorize based on problem not based on product.
Scott Ingram: If you’ll click over to DailySales.Tips/231 you’ll find the video version of this tip, the transcript and more about RajNATION. You’ll also find a special link to his Startup Hypeman website where you can get a free eBook on how to really pitch case studies in your cold outreach to get prospects to take a meeting with you.
After you’re done downloading that, make sure you come see us tomorrow for another great sales tip. Thanks for listening!