Day 5 * 1,000 x Customers Spending $1,000 Dollars A Year Each = A Million Dollar Business
Welcome to day 5 for One Mummy- One Million Dollars- One Year.
If you are new to the series and want to catch up with the previous days posts, I will drop them in for you below:
Today as we move onto day 5- I’ll share my views on customers, products, and journey mapping as we push into the #4 way to make money.If you thought yesterday was difficult with mapping 52 products, today's task really takes it up a notch as we explore what it means to map 360 products Click To Tweet
This topic is lengthy, and I only have two hours to devote to writing and image creation, so we may need to carry this one over for a few days until I can explain it enough, by which time it will in no way be comprehensive, but just enough for you to get a handle on what I mean.
So let’s dive straight into it….
Marriage and the 1,000 true fan theory.
In the previous days posts we have been exploring Kevin Kelly’s 1,000 true fan theory.
Today, I will expand on this a little more, but before I do, lets look at some of the names we can call our true fans.
A true fan may otherwise be known as our:
Many years ago, when I first started studying online marketing, I was [blessed/cursed] to be reprimanded for the way I looked at selling products to my customer.I didn't understand the power of customer journeys or data, and I most definitely never in my life thought of a buyer/seller relationship as a marriage. Click To Tweet
But that is exactly what it is.
When people in business think of selling products, they think of selling ONE product to multiple customers.
They may spend months or years refining this product, pouring their heart and soul into it, launching it, and then being met with one or two answers:
One it’s a smashing success and they go on and replicate the process
Two. It’s a dud, and they go home and they go broke.
When I was researching and trying to find patterns that made some people more successful than others, I came across a not-so-unusual fact.
The people that were often successful had more products- or they cross referenced their business, their customer or their assets with other people who had marketcentric assets too.
If they were singers- they collaborated with other singers.
Artists collaborated with other artists
Authors- collaborated with other authors
Businesses- stocked other similar products.Now the paradox to this is that many successful online businesses are not selling products…they are selling the customer…… It is the CUSTOMER who is the product. Click To Tweet
…it is the customer who is being sold…..it is the customer who is the currency.….and I’ll come back to this in a little more…
Today the task is to consider what it means to think of being in a marriage with your customer….
one where the two of you spend a very large portion of your life together….a relationship where you are not just selling one product to your fans and then parting ways never to be seen again, but instead where you both make a commitment to build and strengthen your relationship with each other year after year after year.
Yesterday we looked at mapping 52 products for your customer, which is a big ask if you have never mapped anything before, but today I want to really push this boundary and talk about mapping 360 products.
If you have a relationship with your customer where you only sell one product, thinking of selling 360 products is going to seem completely outrageous!!
However, when we break it down into categories or the customer’s lifecycle, we can see that it’s not so far fetched after all.
If you look at your customer relationship like a marriage that you enter into for 60 plus years, let’s look at some of the products you may sell to your customer over this time.Remember these products could be digital or physical or services or advertising or entertainment, or SaAs etc…and you don't need to own all the products yourself….they could be dropshipped or affiliate products etc etc. Click To Tweet
So lets start by mapping some basic products.
If we say the customer relationship we are going to enter into is a 25 year old woman who has just found out she is pregnant with her first child, lets look at some of the products she may need over the course of her lifetime.
The first 36 products we will look at are grocery items.
- Tea/ Coffee
- Pet Food
- Tooth Paste
- Hair Dye
- Dishwashing liquid
- Dishwashing tablets
- Dish Cloths
- Surface Spray
- Rubbish Bags
- Laundry detergent
- Toilet Cleaner
- Toilet Paper
- Stain Remover
- Ice Cream
- Bacon/Ham/Cured Meats etc
- Vegetarian Produce
Next, lets look at the stage where your customer needs homewares.
I’m not going to map all 36 products here, but just to get an idea, some of the things she may need at this part of her life are:
- Dinner ware
- Knives and forks
- Bed sheets
- A Car
- Bath towels
- Coffee Cups
- Washing Machine
- Bedside tables
- Coffee table
- Dining Table
- Xbox/Gaming Console
- Netflix membership
- Spotify membership
- Gpym membershi
Now, let’s consider what she would need during pregnancy and the 1st year of having a baby.
Again, not a full list of 36 products, but just a quick look…
She may need:
- A baby book
- A pram
- Bath wash
- Nappy cream
- Car seat
- Baby carrier
- Baby clothes
- High Chair
Last, lets look at a yearly spend and shop of the baby that has now grown into a teenage girl
- Hair dryer
- Hair Straightener
- Hair Brush
- Hair elastics
- Tooth Brush
- Breakfast Juice
- Snacks for school
- Nail Varnish
- Nail Varnish Remover
- Female Hygiene Products
- Shavers/Waxing products
- Books/Ebook Reading Budget
Now we could go on and on and do this for all 360 products, but I think we all see where it’s heading with what I am trying to say which to recap is as follows:
Most humans over the course of their natural life will purchase at LEAST 360 products that are the exact same products as an identical demographic of other customers.
What I mean by that is that many first time moms will all by the same stuff ( pram, cot, bottles, car seat, capsule and high chair etc)
The same is true for many teenage girls who will need shampoo, conditioner, hair elastics, toothbrush, toothpaste, nail varnish remover, shaving/waxing needs etc.
Although there is no possible way in the world we could own all of these products, with the technology available at our disposal today, it doesn’t mean we couldn’t SELL or RECOMMEND them for sale to our customer….and this is where this marriage style relationship comes into what I am trying to explain.
When I first started understanding selling to customers, I was thinking of many customers buying ONE single product, or if I was lucky maybe 5 products.
As I learned more and more, I realised — and it was sternly pointed out to me!!– that it was not the products that were valuable….there would always be thousands of products in the world so long as capitalism was free to roam….what was valuable to me as a little solopreneur was my CUSTOMER.
It was knowing who she was.
Understanding the defining moments she was going through in her life…. and then imagining I was her best friend or mother and asking myself:
How could I help her?
If she was struggling right now and needed help, how could I serve her?
Or if she was looking for products to make her life easier….what were those products she wanted?
Now all of a sudden, instead of being a business owner, I was a tour guide.
Committed to helping my customer succeed.
Did she need a pram? Had she seen this particular brand? It was locally made, had great weather protection, all terrain tyres and folded flat.
What about nappies? Did she know the difference in how her purchases were affecting the environment? Did she want to consider cloth nappies or biodegradable disposable nappies..
Was her teenage daughter waxing or using sanitary products for the first time? Had she considered this particular brand of wax, did she realise the difference in hygiene brands with natural ingredients versus harsh chemicals.
All of a sudden, when we look at serving our customer, we see that there are hundreds of ways we can help her AND there are hundreds of products we can sell…not just to make money, but because we care.
We may care about the environment and our children’s future, and this devotion to sourcing and sharing natural eco or organic products aligns with our values.
We may care about our countries economy, and our devotion to sourcing and sharing locally made products aligns with our values.
We may care about the balance of power or financial equality between males and females and our devotion to sourcing and sharing products made by women, or minority groups aligns with our values.
The same may be for transferring wealth from the hands of faceless corporations to independent business owners.
Whatever it is that WE care about, then chances are there is a demographic of customer who cares about this equally too.
I can vouch right here and now that if there was a blogger or business owner devoted entirely to showcasing Australian made products and services that I would be a loyal life long supporter, but that company would need to be independently held. I’m done with supporting corporate greed for the rich to get richer.
The same could be true if there was a business or blogger who was committed to highlighting brands or companies that re-invest a portion of their products into microfinance, charity or education…. if everytime I needed a new pair of jeans and there was an Aussie Made business that also supported charitably,…. would I support this company?
Now what if there was a company who had 360 products that I needed and that aligned with my values of being Aussie made or charitable?
I would be thrilled that someone had taken the time, energy, care and thought to anticipate my needs and help me live in line with my hearts truth and my core values!!
Because if I am being truthful, I don’t want to purchase the half of the products I put into my shopping basket each week….but I do purchase them simply for the reason that I don’t have the time or knowledge to purchase differently.
But if someone made that easy for me and told me how my purchasing power could make:
- The environment better
- The Australian economy better
- The male/female wealth distribution better
- The balance between corporate and indy business owner better….
Would I purchase my goods and services differently?
YES!!! I would.
There are only two problems to this though.
One…….I don’t know how to find all these things.
And two…..I’ve never taken the time to sit down and really think about what’s important to me when I make my everyday and milestone purchases. IS it the environment? Is it charitable donations? Is it a wealth or power transfer?
My life has run on autopilot most of my life, with 4 children I’m so crazy busy I don’t have the luxury of time or knowledge to second guess what I purchasing or why. If I need a new pair of jeans, $250 is luxury money….it means that I need to save $20 per week for three months wearing these jeans that are too small and frayed until I can afford something different….and even then once I can afford them?
I only have one pair of jeans that I need to wash and wear until I can save for another.
Today, as we look at the number #4 way of making this million dollars in one year, I want to challenge myself and see whether or not I could map 360 products for a single customer.
Because I’m super short on time with only 360 days of this challenge left, I am going to choose myself as my customer.
I’m going to pick a specific niche to centre my products around- in my instance it will be Australian Made AND owned, and then my job will be to map 360 products.
I’ll share some of these worksheets below, but basically what I will do is make 10 x customer lifestyle worksheets with placement for 36 products which will give the 360 products I am looking for (10 x 36 = 360)
If you would like to purchase todays worksheets, you can find them in the shop here, or by clicking on the image below.
Want to discuss today’s task a little more below and call me out or share some insight?
Comments are open below and are always welcome 🙂