The Buyer Intent Code - Richelle Delia

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00:02 Hello and welcome to How to Unlock Hidden Buyer Signals. My name is Doctor Richelle Delia and today we're going to discover the hidden signals that identify buyers as opposed to people that simply browse your website, waste your time, and are essentially tire kickers. And what we want to do is systematically find those people before they eat. They even know that they want to make a purchase, that they even know that they want to buy.

00:28 This is going to totally change, change how you choose to market your business, position yourself and really how you choose to invest in various marketing strategies because you'll be able to very quickly sort through wasted marketing spend versus those activities that are going to give you the highest return on your effort, your energy, and certainly return on your investment. And So what we're going to do is we're going to stop wasting money on those people who never convert.  

00:57 So let's go ahead and hop right in.

01:02 So there is a huge truth about wasted and wasteful marketing. About 93 % of all funds that are spent on marketing dollars are actually wasted. And the reason why they're wasted is because those funds are spent on targeting people who will never make a purchase there, never will buy. And that's really because the messaging that brought them in never encouraged them to be buyers or never set them up to be in a buying methodology. And So what that means is that traditional marketing methods, they really do miss the mark. And So what we're going to discuss is how you can pinpoint your ideal customers from the beginning and literally like a whistle, like how a dog can only hear or can hear octaves or and decibels that the human ear cannot hear so it's specific to them.

01:53 That's exactly how you want our messaging and our marketing to be, where the exactly the buyers who are in the ethosphere, out in the broader audience, those are the people that come into our world and actually become elites because they are more likely to make a purchasing decision.  

02:11 So the question is, how did I come to this? I am a research scientist by background turned business owner. And so I've spent literally decades working with Fortune 500 companies, really helping them hone in on their marketing, messaging, marketing positioning for various products and services so that it is actually resonating with the market as opposed to them guessing and checking. And so the million dollar question is how can we identify who is going to buy before they even do so? And so this is really about predictive marketing and finding hidden buyer signals and So what we're going to do is we're going to discuss how to identify them, how to certify that they have potential, and then really have that discovery conversation on the back end to really hone in our messaging.  

02:59 And so, you know, there are lots of companies that don't do this. And I think that one of the best case studies that showcases this is Coke. Coca-cola had a had a marketing campaign in about 1985 and they called it New Coke. Ok. Now Coca-Cola of course, is a global brand. You know, it is iconic in every sense of the word. And they were really spending a lot of time thinking about their competitors, which in this case was Pepsi.  

03:29 And so they were really concerned that Pepsi had more of a sugary flavor than they did and they really felt that they were at a detriment. So what they did was they launched New Coke and New Coke had a totally different flavor profile. It was much sweeter. And it had, it had basically instead of the original formulation, it had high fructose corn syrup in it so it was much, much sweeter.

03:57 What Coke did not do was they didn't understand, they underestimated their own customer loyalty to their own flavor profile and basically what, what you know, in marketing Spink is their own unique selling proposition. So they underestimated how much people liked them for being them they underestimated how much people liked Coke for being Coke. And so the backlash was immediate and, you know, Coca-Cola was essentially forced to, to, to, to, to back and reintroduce the original formula within six months of launching New Coke.  

04:32 And so the backlash was insurmountable in the sense that they risk tarnishing their own good name and their own reputable, loyal client base because they were chasing someone else and, and the trend and, and what they felt that Pepsi did better than them as opposed to honing in on what made them uniquely different and positioned in the marketplace and what encouraged people to buy Coke specifically and honing in on that. So you'll see today, you know, we're, we're almost 40 years later now. And so now you'll notice that Coke really focuses on who they are, the individuality angle and just the iconic and traditional nature of that traditional Coke flavor. And so they no longer are chasing, trying to follow some of the new trends and things like that, at least not in the Coke brand itself now as an overarching company, certainly they have lots of different product lines and various different avenues and market niches.

05:34 But for this particular product line, Coca-Cola they recognize you know what, how about we just maintain what is what makes us good and unique as opposed to diluting our own efforts trying to chase someone else.

05:55 All right. So the core problem is really the concept that I like to call push versus pull, OK, So that when we come, when it comes to marketing, there are two different ways that you can think about doing things. There is a business push or there is a buyer pull. And so when you think about a business push, that's exactly what Coke did with New Coke they said, hey, we see what Pepsi's doing, we see what's going on in the marketplace. It's the eighties, people are having big hair, big everything.

06:22 So they probably want to have this sweeter flavor profile. So let's push this out into the market where we feel we need to compete on that sweeter flavor labor profile as opposed to a buyer pull, which is the buyers saying, hey, I want this, can you supply this and now I'm just meeting a market need that is instead a buyer pull. And so where this comes into play is that one certainly I think that it is savvy to focus on buyer pull wherever, wherever possible.

06:55 And so with that, conventional wisdom focuses on demographics, but demographics alone don't tell us about where a person's mind is, their psychology, their mindset, OK. And So what we want to do is shift from being a product pusher. So we don't want to be a business pusher we don't want to push our product. Instead, we want to attract buyers with the right mindset because those are the people that are going to want to purchase our products and those are the people that are going to request certain things of our business and now all we have to do is supply the need as opposed to try to create demand and then supply by that newfound demand.  

07:31 We want to go where there is existing demand and all we have to do is fulfill. That is the name of the game. And the way that you do that is by focusing on buyer intent.

07:45 So here's a case study, a second case study. This one is by Weight Watchers, OK. And this really showcases exactly the difference between demographics from a customer push perspective and, and really getting into the, the, the psychology and this those, those more mindset triggers that really get into why a person does what they do. So a couple of years ago, you know, as data privacy and these things become less and less, as data becomes less and less private, there was a time in which buyer driver's license data in the United States was private information. Well, at the time when that transition from private to public data, Weight Watchers thought, Oh my goodness, this is amazing.  

08:33 Now I can target people based on their height and weight and from a health chart, I can target people that would be statistically speaking, they would be following the overweight category. And so that's exactly what they did. So they sent out a targeted guilt focused direct mail campaign to persons that failed under a certain criteria based on those per the driver's license data for height and weight. Ok. And what they did was they assumed that because a person was a certain height and weight ratio that they would be interested in losing weight.

09:07 What they don't know is just because that person has, you know, has a certain height and weight, it doesn't they haven't talked about, you know, does is their spouse OK with it? Are they happy, you know, with their eating habits, you know, maybe they're a chef and, you know, they like, they want to pour on the butter who knows? But if their family is happy with it, if they're happy with it, if there is no pain associated with it, then you're tapping into something that is incongruent.

09:34 And where there's incongruency, you have to have congruent currency in order to breed cash and so I like to say concurrency leads to cash and so basically this, while on the outside it sounded like it was a good idea, what they didn't do was layer in those psychological elements and so at the end of the day, the campaign flopped. They got tons of backlash from it. And it's really because they missed the mark. There's nothing wrong with marketing weight loss it's about marketing weight loss to people who want to lose weight, not targeting to people who you you think should lose weight or should want to lose weight, right? And so that having good data is important and that is certainly, you know, we want to make sure that we are reducing the overall pool of people that we can market to, to folks that are relevant.

10:22 But if you can layer on not just relevancy for things where they're externally searchable, but also other items that signal some sort of mindset or action. And that is really where the magic happens.

10:42 Ok. So what is buyer intent and what is this signal and how do I know? How do I separate my buyers from my browsers essentially? And so the buyer intent signal is where we want to focus on three aspects. We want to evaluate the person's belief, their language and make sure that our offer is aligned with that. Ok, so First off, we're going to evaluate their beliefs. So we want our marketing messaging to appeal to specific beliefs, specific values and specific attitudes. Ok, so it's not just about, you know, I am. Let's just go back to the Weight Watchers example. I'm a woman with a certain, you know, under under 5 foot in a certain, you know, number of pounds on the scale or kilos on the scale.

11:25 Instead, I want to take that information, but also what are some beliefs that that person could have what are some values that person could have? What are some attitudes that person has? If it was someone who said, hey, you know, I, I, I think that I look best, you know, when my body reflects a certain size in the scale, when I look a certain way in the mirror, then that's going to be reflective of that person's belief and that person's values and that person's attitude about their physical appearance. Ok, But if you're marketing to people blanketly assuming that they have that those certain beliefs, then that's how you missed the mark, OK? We also want to study our customer language or consumer language.

12:03 So again, we want to recognize these signals all in their language as well as in their behavior. So let's say they had done some listening studies and they had combed Reddit threads and they were able to tap into how those people actually feel and really put their marketing message in the words of their target person. That would have resonated so much more and the combination of understanding their specific values, beliefs and attitudes combined with their language that allows you to create offers that are explicitly aligned with that buying behavior.

12:39 Ok, Because at the end of the day, that means we're targeting that customers mindset. We allow we align our offers with their values. And now that's how our conversion rates can soar and really, you know, we're, we're cooking with gas at that point.  

12:57 Ok, so how do we know that we are, you know, on the right path when it comes to mindset and, and items such as that? So here's some examples of the strength of the alignment of your offer with mindset. Ok. And so a strong example of this would be, you know, this marketing message is for business owners who believe that systems are the key to growth. All right. So that means that if someone believes that systems are the key to their growth, then they're going to say, yeah so I'm not just a business owner and I'm not just someone who technically you think I should grow based on my revenue target, but I'm someone who not only I've shown that I want to grow, but I believe systems are the key to growth.

13:41 That now I have Co located my mindset, my psychological triggers with my actual demographic data to say, OK, now this person is already predisposed to receive marketing messages about improving their systems, analyzing their systems, so forth and so on. Ok, Another example of a strong marketing message would be this is for parents who prioritize educational experiences over toys wow so that means I'm going to raise my hand and say, yeah, I'm one of those parents who thinks that an educational experience is much more important than crowding up my basement with a whole bunch of of items that are going to be disposed of, you know, at the end of the year, right? So now I'm, you're tapping into who essentially identity marketing, right like this is who I think and who I believe I am.

14:31 And now my purchase decision isn't Even so much about you. It's about I'm purchasing this because it validates and is again congruent with who I say that I am. So if I say that I'm a parent who prioritizes educational experiences over toys and I choose not to purchase that, then am I really someone who prioritizes his educational experiences right now, this is the negotiation that the potential customer has to go, you know, in and on in and of their own internal dialogue, But it allows you to tap into that internal dialogue in a way that you don't have that opportunity to otherwise.  

15:09 All right, so let's say that you don't want to go that strong if you're if you're only moderately aligning, then you know your your results won't be as strong. So here's an example of what moderate examples of mindset look like this. This message is for people who take their professional development seriously. It's OK, but why do I take my professional development seriously? Is it I just think that it's fun? Or is it that I'm trying to grow a business is it I'm trying to excel in my career i'm trying to go for a promotion? So the more specific and actionable it is where I can say, yes, this aligns with me or no, it does not.

15:52 The better second example for those who believe in continuous improvement, while I can say, yeah, I believe in continuous improvement, but it doesn't it doesn't allow me to have a very clear distinction. Yes, no, this is me. It's a yeah, you're like, no, I believe it. It's like, I can't agree with it, but it's not a definitive stake in the ground. And the stronger you can align your your marketing messaging to mindset stakes in the ground, so much the better.

16:23 Ok. A weak example would be something that appeals to universal mindsets and has little correlation to buying behavior. So again, we want these to be very strong, very tangible, very critical and very concrete because the more concrete they are and the more the person I self identify that yes, these are items that I believe and that I that I feel are congruent with my own, my personal identity, my business identity, so forth and so on. And that's how your marketing messaging is going to really click,  

16:58 Ok. So practically, we want to apply this throughout our entire marketing ecosystem. So if you have front end marketing offers you, this is where you want to apply this from the back, from the front end. Then you layer that on with additional email marketing on the back end and make sure there's all infused within your sales pages. This is going to allow you to transform your marketing.
 
17:20 And again, really make sure that you're targeting the right mindsets and almost like indoctrination from the beginning. If you are a person who believes that you prioritize educational experiences over toys, then that means I'm going to have on the front end how to have your child focus more on educational experiences as opposed to having things that clutter up your kitchen or, you know, when my baby was actually a baby, you know, I really responded to messaging around wooden toys, items that were more sustainable, the items that could become heirlooms after they graduated from that particular stage or phase of development. So it really helped me to to identify like, yeah, I'm someone who doesn't want to have a bunch of junk, but I will buy a wooden rocking horse because it'll be a fun toy today.

18:10 And then tomorrow it can be a keepsake and a memento and an heirloom piece that we can place on the shelf keep. And then eventually when I have my own grandchildren or beyond, then they can have it as an heirloom piece. And it's something that is quality and long lasting. So by resonating with that, by having that marketing message, I was able to self identify that, yes, I am this type of person, I'm this type of parent. And so I'm now going to buy because it's now in alignments and incongruence with who I say that I am and what I say that I value. All right.  

18:46 So with that, hopefully this has been very, very helpful and directly to the point. So the more ways that you can incorporate these into your marketing messages, your front end offers and your email, marketing the better results that you will receive. Thanks again for tuning in.