Audience not Growing? Listen to this…
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What do I believe is the most challenging element of marketing and growing your business right now?
It’s audience growth and I’ve got a lot to say about it.
In this week's episode of I dive deep into how and why audience growth is currently a challenge in marketing your business - and what you can do about it.
Listen to this episode to hear:
My thoughts on what has changed over on Instagram
The types of content that is working right now on social media
Top tips on increasing your audience - and keeping them engaged
The key phases of the marketing funnel
The 3 ways to build your audience
As always if you have enjoyed this podcast please hit SUBSCRIBE and leave a REVIEW so together we can ensure more and more visionary women create impact in the world.
Resources:
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Find me on Instagram @pandorapaloma_
Transcript
Hello. Hello. And welcome to this episode of the podcast.
I thought before we begin, I would give you you a reference of where I am right now, what my life is looking like right now.
I am sat on the floor with my computer and my recording device on a box in my daughter's room. Her bed has just arrived, her mattress is behind me. I'm ultimately sat in the corner of a room recording this episode of the podcast. For those of you who have seen on Instagram, I have moved house. Last week, I didn't have any Wi-Fi. This week, I have Wi-Fi, but we have no desk. We have no kitchen table for me to work from. So, it's somewhat of a shit show over here.
And the reason I'm telling you this is because it's so interesting to me that, when I am speaking to new hearts in my world, who get on the phone with me, and obviously when we're investing in ourselves, there's always considerations. And sometimes those considerations are,
oh, I'm moving house, or,
oh, I've got this holiday that I'm going on, or
oh, I'm gonna be doing this at XYZ.
And I always say to them, everyone who joins me to be coached by me always has stuff going on in life and business. Okay? And, ultimately, we can build the capacity to do those things simultaneously. I wanted to share this in full transparency and honesty that, I've just had a really successful launch, I run a multi-six figure business. I'm a single co-parent. And, you know, sometimes I record podcasts sat on the floor on a box.
And I can do that all, and you can do that all too.
And I really don't ever want you to think that you don't have, or can't build, the capacity to hold these things. Because it doesn't get to be one or the other. You can move house and continue to launch or scale your business.
You can do all the things.
I say, as I sit here recording this podcast.
So, I'm gonna get to it. I want to talk today - and I'm gonna try and keep this short, sharp, and brief for you - about what I see is the biggest challenge in the online space right now. The biggest challenge that I see is an exhausted audience.
So, what do I mean by this?
Whereas a few years ago, building Instagram following, it ultimately was a lot easier. You know? We would all wake up. We'd have followers overnight. I think we were all very in the game and playing the game of following. Instagram just had a lot more engagement. A lot more engagement, a lot more organic growth. And so what we're now seeing in 2024 is that our audiences are not growing like they used to in an organic way.
And so what this means is that when we're going into launch, when we are selling our offers, our services, there
a) is not as many people, naturally, in that space, and
b) we are speaking to the same audience, therefore, we're speaking with the same people.
And what we know is that 1 - 3% of people will buy from us today or are ready to buy from us today, 30 - 40% of people will buy from us, and 50-60% of people will never buy from us.
So, if you haven't grown your audience, the likelihood is that you might have reached the capacity of the people that are going to buy from you.
Now I'm gonna say, of course, that's not always always true. Because, of course, there are people who aren't ready to buy from you right now, but maybe ready to buy from you in the future. So, we do need to remember that there is always potential of bringing new hearts into our world. But ultimately, what I am seeing is that because we are not naturally increasing our audiences, it means that sales might feel slower.
Now I'm obviously gonna support you in what I believe you can do about this, but let me just give you first the context of the marketing funnel.
So you've got your awareness phase, right?
You've got all of the things that you do to widen your audience, to bring more humans into your space. And that is going to come with, obviously, epic content, which is shareable. It means that when people are landing on your page for the first time, they feel enticed to press follow, and creating content that your existing followers - ultimately, you wanna be the person that if they haven't seen you for a while, they actively find you because your content is so good. So there's the real value that you bring in that. And that naturally means that people will speak about you, will share your content, and therefore, you have the opportunity to to widen that audience.
So that's the first phase of the funnel, the awareness phase.
Then, of course, you have the second phase, which is the education.
So, this is gonna come again from your content itself, but also things like your lead magnets, your freebies, your conversion events, anything that you're doing to encourage people to connect with me. Because, ultimately, the marketing funnel is always about building that know, like, and trust.
Then you have the third phase, which I call the conversion phase.
So, this is where things like masterclasses speaking to a specific problem, that then go into solving that solution through your offer and inviting people in. So actually going into the sales process or pitching the offer. So, the conversion can look like many different things, free trainings. It can look like a day of discovery calls. It can look like a smaller builder offer that people can convert into the larger offer. But, ultimately, anything that means that you're really able to connect, and potentially convert that client.
And then, of course, you have the final phase, which is the sale, which is the onboarding of that client.
So, that's the marketing funnel as it stands. So, if this is the biggest challenge that we are seeing right now, what do we do about it?
I wanna introduce you to three key things that you can do to increase your audience today, this week, this month.
The first is build.
Build your audience through the value that you deliver. Okay? So the value of your content. If your content isn't getting leads right now, it isn't making sales, then it's definitely a sign that it could be optimised.
I see this all the time where so many people are focused on their metrics. Like, oh my god. I got, like, a thousand likes. Okay. But did it get anyone booking a call with you? Did it get anyone buying from you? Because if it didn't, that's just a vanity metric.
So, really thinking about building through the content that you're delivering. Ultimately, it's about value. It's about creating the kind of content that's so valuable that people come and look for you. If they haven't seen your post that day, they come and find you and hunt you down.
This can also look like creating content which;
actively encourages people to engage with you, or
encourages people to tag a friend, encourages people to tag their bestie,
share this with someone you might know.
Suddenly, naturally, you are encouraging people to help you build your audience and, in part, creating a bit of a community because you're encouraging people to tag their friends, which means that it's not just about you and your community, but it's about the people within your community supporting each other as well.
So, build is the first way that you can start to build the awareness phase of your funnel. The next is borrow.
So old school PR, hands up - that's me. 20+ years working in marketing and PR. Collaborations were always a big, big thing. Two people come together to share their audiences, to create valuable content that will speak to both of their audiences.
And I believe that in 2024, we're gonna see a lot more value from collaborating.
I think that because of coming out of the pandemic, everything moving very much online, I think a lot of us are kinda craving that connection with humans. In person events, collaborations, bringing brands together.
So what could this look like?
On a very basic level, this could look like doing a Instagram live series where you interview, or you connect with, someone who does a similar thing to you or something that's of benefit.
So for example, as a business coach, I might bring on someone who we use to support us with sales in our business to talk about what sales is gonna look like in 2024. So, it's not someone who's a direct competition with what I do, it's someone who is in line with the work that I do, and so because of that, we're able to give some value that supports both of our audiences.
Or, it could look like you connecting with a brand.
To give you an example, an ideal brand for me would be something like Starling the Bank. I recommend it for all of my clients. I use it myself, both personally and in business. I could potentially pitch myself to say,
Hey, It's National Women's Day coming up. I support women in business. I use Starling. You know, could we collaborate on something that would be really beneficial in terms of content to support both of our audiences, for example.
So, we’ve got build, and then we’ve got borrow. And then of course, the third and final piece is - buy.
I believe now that using Facebook ads, Instagram ads, Google ads in a way that supports the ‘know’ aspect of that know, like, and trust is gonna be a really important phase for us.
So, full transparency, I have used ads in the past, and I got a little bit burnt. I'm not gonna lie. We recently have started introducing ads again into the first part of our funnel. So, we drive ads to our masterclasses to increase the number of people that are coming into our world.
And then, of course, we have a lot of content that we share that then nurtures those hearts, towards - either we find that people buy from us there and then, or we find that with the additional conversion events and additional aspects of the funnel, they become clients over time.
The way that we use ads now is something called dynamic creative. We're finding really good results from it. It's a bit of a quick win way for you to build your audience as of today.
Now, there's obviously pros and cons with all of this. Using ads, you're gonna get a result within the first week or two. You could start seeing results straight away. Things like borrowing, that's gonna take a little bit of time, because you've got, obviously, pitching in the idea, executing, and then seeing the result of that in time to come. So it's gonna take a little bit more time, but it's not gonna cost you money. So, you know, pros and cons.
And then with building, again, that might take a little bit of time, but the good thing is, you know that in increasing your engagement with your audience and building that know, like, and trust - becoming someone that they come to - that's gonna really last a lifetime. And in itself, means that there's lots of other opportunities (collaborations in the borrowing phase being one of them) because you're starting to be seen as that thought leader.
So there we have it.
The biggest challenge that I believe we will see this year is increasing that awareness phase of our funnel.
But, the things that we can do about it and for it is to lean into strategies that can help us borrow, build, or buy a new audience.
I hope this has helped. If you have any questions, do come and find me @pandorapaloma_, and let's have a chat about how I can support you in your business in 2024.
And just a little shout out that this week is the last official week that you can join the Magnetic Live Launch Method, which is the space to help you plan, execute, and scale your way to a six figure launch. I would love to see you there. Have a beautiful day, and sending much love and magnetism from my corner of the world to yours.
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