Knowledge Helps You Find The Money – Part II | Jackie Purnell

This is part 7 in the obss. Check out previous posts here

Last week I introduced you to Dan, about to commence his Fly Fishing Journey if you missed it, go read that first….then we can continue the story.

CONSUMPTION

How does Dan (our market segment) want his information?

We know he’s a busy guy. Seems pretty smart, and time is important to him. I would think that he wants his info straight to the point. Digestible chunks of information that see him fly fishing in no time flat.

We know he takes pride in himself, & likes to follow market trends. Suggesting he prefers to be on the leading edge. New and exciting would probably appeal to Dans psyche.

He doesn’t piss around either. He likes to make decisions quickly….given all the information is there to support his criteria.

Keep these little things in the back of your mind as we move into creation state….The fun part!

CREATION

So let’s create…but remember to check those runaway ideas against your market segment..in this case Dan.

We’ll start of by revisiting the questions and potential solutions

What kind of rod and reel do I need:

Provide a weekly review of rods and reels, based on level of spend, level of experience.
Why not try before you buy – offer hire of each type of rod and reel reviewed only available to members.

What other equipment should I buy:

Provide info on the “essentials” to the fly fisherman on the move & non essentials that just make life easier.
Offer reviews of new products hitting the market, and discounts for advanced orders

How do I know which fly or lure to choose:

Produce a chart of lures by pictorial, grouped by appropriate fish species, conditions you would use them in.
Test packs of free samples

What kind of fish can I catch & Which lure for which fish:

As well as the above chart, provide purchase prices, and add success pictures, fisherman showing off their catch (which they love to do) but what lure they caught it on and where.
Introduce competitions based around these ideas.

Best places to fish – Saltwater/freshwater:

Regular location information what’s running where (fish speak for what fish is found where and when)
Distances to locations, even include some associated accommodation recommendations, places to eat or pick up supplies.
Inside information on the best “spots” within those locations. Who’s catching what (fishing brag spot)

Rules and regulations:

Overview bag limits, size limits, licensing etc. For each state or territory.

Casting techniques:

Quick start guides to casting techniques
Free video tutorials
One day workshops
Location based workshops

So how does this apply to our guinea pig Dan:

What you need to do now is assess your mediums for delivery which match Dans assumed consumption needs.

Knowing Dan as I do. I would suggest information via podcast may just tickle his fancy. All the reviews could be listened to while he’s at the gym, or on the move.

Whack the podcast hotpoints into pdf format, so that he has a hard copy of the relevant facts.

He then decides what information is worth downloading and what is not.

Dan remains in control:

He’s not being overwhelmed with shitloads of information he doesn’t want.
He’s only invested say 20 minutes into a podcast.

Consumption without burning daylight. Yeah Baby…win win.

It’s important that each of the knowledge areas are separate, so that he can opt-in to the areas he feels he needs. The control remains in his hands, and he can opt out whenever he chooses.

The pdf in itself gives you the benefits of providing more buying opportunities and building the relationship further through exclusive offers and trials, workshops, free stuff etc.

It’s impossible for me to cover all options, scenarios and opportunities here, otherwise you’ll be getting a 3000 word post. As it is we’re in record territory at around the 1500 mark right about here (which is why I decided to split this post into two pieces) …sheesh no wonder my fingers are tired.

COST

Finally cost. Establishing the value exchange. This is perhaps the tricky part. We know you can’t price something that doesn’t exist and you shouldn’t be relying on the market in general to determine your pricing strategies.

The business model you follow will determine which avenue you choose, and your market will dictate what is acceptable to them.

But here’s a few options for you cast your eyes over.

You could offer all services via a membership option.
Pay per knowledge base – annual or monthly fee.
Bundle knowledge bases into different payment options.
Offer podcasts freely, and charge for the pdf component.
Completely free, and rely on physical product sales for revenue

As for fly fishing Dan he’s pretty quick to follow market trends and I’m pretty sure he’d be a membership kinda guy, but we won’t know for sure until we test the waters.

You see theory is all well and good, but testing is where the battles are won and lost.

This study is a framework to test your ideas. I hope it encourages you to expand your thinking on the way you approach niche selection, market segment and delivery methods.

Now it’s over to you, to run the concept circle on your own ideas.

Would love to hear how you get on, leave me your comments below, and I would think you’re just the bees knees for sharing this.