Hey, there this is Rajat from Startup Frat thank you so much for all your questions comments emails, etc on our uh last video uh, and uh I have responded to some of you via email some of them you know I’ve compiled into a set of videos, etc that I’ll be rolling out over the course of the next three to five days.
Awesome so what are we going to talk about today we are going to talk about I received a bunch of questions and comments saying hey XYZ is my product okay XYZ is my product and I want to you know the market it sells it to bring it to the market whatever how do I go about doing it okay how do I go about doing it so uh I have two or three different answers for you uh usually I never give out you know quick answers.
So the way you build your mindset around these things will help you think and bring up a solution yourself we will also recommend a couple of solutions okay so XYZ is my product how do I sell it? First of all the bad news is don’t tie yourself up to a product okay. I understand this may be hard news especially if you have invested some money, invested some effort in a product that you feel passionate about that you know you feel that the market will need and you don’t know, how to go about selling it, etc?
I’ll teach you some tips and trick techniques but broadly the market is moving so fast-changing so fast etc that if you tie yourself up to any one thing okay then you know it may be an issue just for the newer members etc just to tell you my own story I had I have a medical degree from one of India’s top most respected medical colleges and everything but when I realized back at the age of 22 23 that you know this thing is not going to work out for me.
You know my mentor at that time told me not to tie myself up to your profession, just because you have it, you have it. Do the best you at it while you’re there and if you feel you can’t do your best you know you’d rather be somewhere else. Then you know make a change. So how do we go about selling or marketing a product? Some of the approaches have changed.
I’ll just tell you, how and why some of the approaches that have changed? So we used to have a situation that was called location-based customer acquisition or access-based customer acquisition earlier. The market was very different. Imagine you have a city center okay in any city you have like the main commercial area or they cannot place or whatever you call it right. The main city center is okay this is location-based marketing.
Main city center how does it work in the main city center you have people who come there for business people who come there for you know entertainment people who come there because it’s a beautiful place etc people come to a mall etc. Now just because you have a location over there imagine you have a location you have an office a shop in one of the highest-grossing malls in the city like the phoenix market city or something.
You know phoenix is very well it’s a good mall that does well in most cities. Imagine you have a shop over there okay the customers are passing by and the people who need who are interested in your product etc, will come inside and buy it from you. The customers who want your product etc they have to they will buy it from you and the fact that you’re paying some rent some electricity some staff expense.
Usually, the flow of customers is so much that overall, you make a profit life is good. Now in this economic life is not that good because the traffic and footfall is lower and your location by itself does not guarantee that you will get footfall. Your location by itself does not guarantee you will get footfall and by location, I also mean placement I also mean access.
For example, if you have a good degree or an architect, you’re a doctor you know you’re a lawyer yeah, the degree by itself does not mean that you will get footfall you will get traffic or whatever it is right now uh because you have a business because you have a product does not mean you will get.
Why is that because demand has understood has been you know has been undercut and uh supply is higher there’s an oversupply of doctor’s lawyers’ engineers etc in this country so degree means nothing there’s an oversupply of products coming in from all over the world American products German products Chinese products Indian products so products by itself don’t mean anything.
You know businesses by themselves don’t mean anything malls by themselves doesn’t Mean anything movies by themselves don’t mean there’s an oversupply and a glut of everything okay and demand has nosedived demand has nose died so what do you do what do you do remember that the product that you have I hope that you have uh you know if it’s a commodity product anything that sells under 2000 rupees you can just you know tie-up with us.
You know a store that stocks these products and pretty much your set or amazon or whatever but if you have anything above 2000 rupees it’s not an instant decision for the Indian customer okay so here is your product okay and here is your I’ve got these two pens. Now two colors, so I don’t lose them product and here is your customer okay. Now there is no direct connection between the customer and the product.
These days because customers are overloaded with all kinds of information coming at them through tv, hoarding, advertisements, pamphlets, Facebook, social media, YouTube, etc. There is no mind space okay. Your product has but this customer had a seed inside their brain there is okay they do feel the pain.
Your product incidentally also has a seed inside it the reason you built your product or you feel passionate about your product you want to stick to your product regardless of what Cinna tells you never stick yourself to a product but you say no it is passionate. I’ve built it with some time some energy some money and it is my baby you know I’m not gonna quit it that’s fine no worries your product has a seed.
If you built it with passion, you know that it solves a problem or it buys a result okay a result now usually in traditional marketing people would go straight to customers and say this is my product buy it this is my you know people you know you say ads this is my product buy it this is my course buy it this is this thing buy it whatever.
You know amazon type ads commodity kind of ads okay that stuff isn’t gonna work anymore you can try it but broadly it’s not working anymore right. So, people are going in losses and things like that. So, what do you got to get above the problem you can’t tie a product directly to a customer but you can potentially show a correlation between the result that your product produces and the corresponding pain that it will solve for the customer?
Now pay a lot of attention because usually when I give out these uh you know these 20 minutes lectures people don’t understand it immediately but three days later they understand and then they send me a comment saying man three days later I understood okay. So pay a lot of attention your product does not exist it means nothing the customer does not exist it means nothing the only thing that exists in the new universe is result and pain okay.
Can your product produce a result that can solve the pain of somebody can solve the pain of somebody okay and then I’ll give you three little secrets today and then you watch out watch out for my video that’s gonna come tomorrow on Friday or maybe on Saturday and uh you know we will go step by step, yeah so you don’t get overwhelmed with a lot of information, okay you only focus on the result and does it solve a particular pain?
Now you outline okay this pain in as many words as if you were feeling it yourself you outline this pain in as many words as possible as if you were feeling it yourself okay and three little secrets I’m just going to read off my notes here okay. First of all first little secret don’t run after customers second little secret I don’t mind if you can’t read it that’s fine I’m reading it out for you via my mouth okay and do not start pitching products don’t pitch products okay.
What do I do assuming that you have outlined the customer’s pain that your product will solve assuming that you have outlined a customer’s pain that your product will solve you create something called an offer, okay you must have heard this word a lot you know copywriting offers etc yeah that’s what they’re talking about okay offers okay?
Now hang on and listen to me carefully in the traditional Indian business scenario in a sales scenario we used to sit in front of the customer and try every trick possible in the book to convince that customer to buy our product okay we used to sit in front of the customer if you’re a mutual fund salesman if you’re a life insurance sales guy multi-level marketer you know you’re in healthcare whatever it is you’ve probably done this.
If you’re an entrepreneur who sought in b2b sales in these meetings there is one customer you’re investing all your time and then let’s say 30 minutes 40 minutes one hour and you’re trying every little trick in the book, okay to try to make that product okay try to make that product sensible to them okay sensible to them so that they buy it okay.
We’re not gonna do that what do you do with an offer, okay the offer is standing over here like a poll that’s it the offer is standing here like a poll we invest our time we make sure you know we make a good offer you know we outline this thing okay and we the offer is standing like a pole okay and instead of throwing one stone at a time at that pole we collect a bunch of customers okay.
We throw it at that pole and something hits okay eighty percent does not hit every time you collect a bunch of pebbles and throw it at a pole, okay eighty percent won’t hit eighty percent won’t hit okay but twenty percent ten percent will okay once you do that you realize oh that’s a pretty good man that’s pretty good that you know something happened yeah something happened and what you do is you pick up another fistful, okay and you throw it at the pole something will stick.
You keep redoing it and over a period of time, you will become better and better a period of time you will become better and better, okay the offer doesn’t change okay the offer is what is the offer is all the possible customer objections all the possible customer pains all the possible pricing comparisons all the possible googling, Youtubing, etc that they are going to do after they listen to you.
You’re going to build it into the offer, okay, and then the offer stands like a poll and you collect a bunch of customers throw keep throwing it at the poll and that’s about it that’s the game that is being played. That is the game that is being played well raja I understood it that’s great etc what do I do next okay.
So just watch this video okay think about what pain what all pains this product of yours solve for people who are this kind of people you know what is going on in their lives can you correlate it to something in their life etc think about all of these pains and then you wait for my next video which will provide more in-depth, uh you know insight into this problem and then probably I will create a program where you can get more of this information for yourself okay.