Message Market Fit Formula – 4 crucial steps

1. Open Rate Benchmark
2. Meeting Booked Benchmark
3. Interest Benchmark
4. Deal Velocity Benchmark

Let’s explore each formula and ways to improve them:

1. Open rate benchmark: Are prospects engaging?

To achieve an engagement rate between 35 -55%, ensure intent and interaction are present. If the criteria aren’t met, we’ll rewrite messages, seek comments, and conduct client interviews. It’s considered a best practice to commence with a batch of 300 leads.

The Significance of Engagement Rate

While a substantial open rate is promising, it doesn’t ensure genuine audience interest. In contrast, the engagement rate offers profound insights into whether recipients actively participate after opening the email. This encompasses actions like clicking links, responding to calls-to-action, or investing time in reading the content. This differentiation between open rate and engagement rate is a core aspect of Message Market Fit – ensuring that your message resonates genuinely and triggers meaningful actions from your audience.

Striving for an Engagement Rate Above 35 – 55%

To achieve an engagement rate between 35 – 55 % threshold, it is vital to create email content that resonates with your target audience. Here are some strategies to improve engagement:

1. Intent-driven Messages: Craft emails with a clear purpose and call-to-action. Ensure that each email delivers value to the recipients and addresses their pain points or needs. When the intent is apparent, prospects are more likely to take action.
2. Interactive Elements: Incorporate interactive elements in your emails, such as surveys, quizzes, or polls. Interactive content encourages recipients to participate actively and increases the likelihood of engagement.
3. Personalization: Customize messages to recipients’ preferences and actions. Personalized emails make prospects feel valued and boost engagement chances.
4. Compelling Subject Lines: Your subject lines should be attention-grabbing and relevant. A well-crafted subject line can significantly impact open rates and encourage recipients to explore the content further.
5. A/B Testing: Try out various email versions and monitor their results. A/B testing helps pinpoint what connects most with your audience, letting you fine-tune your messaging.
6. Seek Feedback and Conduct Interviews: If your engagement rate drops, don’t get discouraged. Act to enhance your messaging. Gather feedback through surveys or comments to grasp preferences. Client interviews offer insights into pain points and expectations, aiding better message customization.

Starting with a Batch of 300 Leads

When launching a campaign or testing message market fit, begin with around 300 leads. This size offers valuable data and ease of analysis. Monitor metrics closely, then refine messaging based on results until the desired engagement rate is reached.

Now, there are two options:

1. Everything goes wonderfully, and we can move on to the next step.
2. Or the criteria aren’t fulfilled. In this case, we need to adjust the Message Market Fit.

First and foremost, why doesn’t it work? There are some potential reasons:

• The message doesn’t get the attention of the target group;
• Wrong channels their priorities and problems have shifted so they only engage with people who help solve their problem right now.

Ok, but now what can we do? Adjusting Market Message Fit.

First, work with existing clients through questionnaire, second adjust your message market fit formula.

2. Meeting Booked Benchmark: Are prospects booking meetings with you?

After meeting initial engagement criteria and achieving satisfying interaction in your email campaign, the next key step is evaluating if prospects are taking desired action by scheduling meetings. Reaching a 5% meeting booking and over 75% show-up rate signifies successful prospect engagement.

Importance of Meeting Booked Rate

Booking meetings with prospects indicates heightened interest and showcases your messaging’s ability to pique curiosity. Meetings create a chance for forging a personal connection and delving into their needs and concerns.

However, attaining a high meeting booking rate alone isn’t enough. Ensuring a substantial proportion of these booked meetings occur is equally imperative. The synchronization of these aspects exemplifies the essence of Message Market Fit – crafting messages that align seamlessly with your audience’s interests and facilitating meaningful interactions that translate into concrete actions.

Meeting Booking Rate: 5%

This indicates that 5% of engaged prospects are open to scheduling a meeting. It illustrates your messaging’s effectiveness in prompting meaningful actions and fostering in-depth conversations with potential customers.

Show-Up Rate: North of 75%

Booking meetings is crucial, yet equally important is a high meeting attendance. A show-up rate of over 75% signifies prospects’ commitment, value in meeting you, and deeper exploration of your offerings. Strong show-up rates enhance interactions and boost conversion chances.

Again, in this step, we have two options:

1. Everything proceeds smoothly, allowing us to progress to the next stage.
2. Or the criteria aren’t fulfilled. In this case, we need to adjust the Message Market Fit Formula.

Primarily, what is causing it to not function? There are several potential factors.

• Prospects decide to spend time with other things.
• Thesis or promise are not strong enough.

Ok, now, what do we need to do?

Adjust Value Claim and create Instant Value

In cases where the meeting booking rate and show-up rate fall short of the desired benchmarks, it is essential to take corrective measures. To improve these metrics, you can consider the following strategies:

1. Adjust Value Claim: Strengthen the value proposition in follow-ups to engaged prospects who haven’t booked meetings. Clearly articulate the unique benefits they stand to gain from meeting with you, addressing any lingering concerns or objections they may have.
2. Instant Value: Deliver instant value to prospects ahead of meetings – valuable content, resources, or insights that address their challenges. This showcases expertise, builds trust, and boosts the likelihood of prospects attending their scheduled meetings.

3. Interest Benchmark: Do Your Prospects Buy Into Your Approach?

After successfully achieving the meeting booked benchmark, the next crucial step is to evaluate whether your prospects are genuinely interested in your approach and offerings. This interest benchmark focuses on two key questions:

Do Your Prospects Buy Into Your Approach?

It’s vital to evaluate whether your prospects connect with your overall approach and the value proposition you present. This assessment gauges the effectiveness of your messaging in conveying the benefits and solutions you provide. This alignment is a fundamental component of Message Market Fit, where your message harmonizes seamlessly with your audience’s preferences and demands, enhancing your chances of resonating with them effectively.

Are You Able to Place Concrete Offers on the Call?

When engaging with prospects, offer clear and compelling solutions that match their needs. Concrete offers bring clarity and urgency, motivating prospects to act.

Congratulations or Rework: Taking the Next Step

If both questions elicit a resounding “Yes” a step forward is in order. This signifies your messaging has genuinely interested prospects and your approach resonates. This readies you for advancing toward the sales process’s final stages and potentially sealing deals.

However, if the answer is not as positive as you’d hoped, don’t be disheartened.

The explication: Good news, the message is good and you are able to get meetings booked. However you are not able to get them to commit and decide on next concrets steps. This is either because your offer and value proposition is not solving their problems or prospects have not bought into your thesis and claims or your offer imposes too many barriers or risk and they have uncertainties.

There are several strategies you can employ to improve prospects’ interest and increase your chances of success:

1. Rework Social Proof & Use Cases: Strengthen your social proof by showcasing success stories, testimonials, and case studies that demonstrate how your offerings have delivered value to other clients. Social proof builds trust and credibility, making it more likely for prospects to buy into your approach. We recommend starting an outbound campaign by conducting 50 research calls.
2. Rework Demo/Pitch: Revise your product demos or sales pitches to focus on addressing specific pain points and highlighting the unique value your offerings bring. Tailor your presentations to resonate with each prospect’s individual needs and challenges.
3. Listen and Adapt: During conversations with prospects, actively listen to their feedback and adapt your approach accordingly. Address their concerns, answer questions, and show empathy towards their requirements. This personalized approach demonstrates that you genuinely care about their success.
4. Address Objections: Pay close attention to any objections or hesitations expressed by prospects. Address these concerns honestly and transparently, providing solutions and evidence that dispel their doubts.
5. Provide Additional Value: Consider offering additional value or incentives to encourage prospects to take the next step. This could be in the form of discounts, extended trial periods, or complementary services that add further value to their investment.
6. Rework assurance and guarantees: You can initiate your outreach by organizing assessment workshops where you engage in target group interviews to identify potential risks and benefits. Subsequently, you can leverage online tool stacks to eliminate barriers within your offerings.

4. Deal Velocity Benchmark: Can You Close Deals Online within the First 3 Engagements?

The final and critical step in the sales process is evaluating the deal velocity – the speed at which deals are closed. The deal velocity benchmark focuses on the following question:  Can You Close Deals Online within the First 3 Engagements?

Ideally, within the first three interactions, your objective is to conclude a deal and complete the sales cycle. The swiftness of successful deals indicates alignment among your messaging, approach, and value proposition with the prospect’s requirements. This compatibility prompts quick decisions and facilitates a seamless sales process.

This achievement is closely tied to the concept of Message Market Fit, where your message resonates perfectly with your target audience, allowing for efficient communication and, in turn, faster conversions.

Congratulations or Rework: Navigating the Outcome

If you’re able to confidently confirm sealing online deals within the first three interactions, congratulations! This showcases the efficiency and potency of your sales strategy, leading to swift and fruitful conversions. This achievement not only enhances overall productivity but also expedites revenue growth. It’s worth noting that achieving this milestone is closely tied to the concept of Message Market Fit, which ensures that your communication aligns seamlessly with your audience’s preferences and needs, further enhancing the likelihood of such rapid successes.

However, if your deal velocity falls short of the target, let’s find out why:

• Wrong thesis (wrong problem identification).
• They don’t trust you, they don’t think you deliver value or can solve their problems.
• They won’t have the resource to implement what you suggest.
• They don’t have the budget to buy your solution.

Now, it’s time to take proactive steps to improve and optimize your sales process:

1. Rework Financial Offer: Assess your financial offers and ensure they are compelling and tailored to meet the specific needs of your prospects. Consider flexible pricing options, discounts, or bundles that add value and incentivize prompt decision-making, in less than 14 days.
2. Provide Assurances: Provide guarantees, warranties, or service agreements to boost prospects’ confidence and alleviate perceived purchase risks. Assurances can help alleviate concerns and facilitate quicker decision-making.
3. Streamline the Sales Process: Pinpoint bottlenecks or inefficiencies in your sales process and streamline it. Simplify paperwork, remove needless steps, and offer clear transaction instructions.
4. Personalize Follow-ups: Customize your follow-up messages to target each prospect’s unique needs and challenges. Personalization showcases sincere interest in their success, fostering rapport and increasing their openness to closing the deal sooner.
5. Leverage Sales Technology: Utilize sales automation tools and customer relationship management (CRM) software to track prospects’ interactions, automate follow-ups, and improve overall sales team efficiency.

In the dynamic sales journey, acknowledging its non-linear character is essential.

Should the process encounter obstacles or slowdowns, embracing a mindset of constant enhancement and adaptability becomes crucial. Whether the cycle pauses at the start, halfway, or close to the finish line, returning to prior stages and strategically adjusting is pivotal for attaining favorable outcomes. This approach aligns with the concept of Message Market Fit, ensuring your messaging resonates throughout the evolving journey.

Returning to the Second Step: Reassessing Interest

Should the sales cycle encounter hurdles or halt, particularly in its later phases, considering a return to the second step – the Interest Benchmark – is wise. Reevaluating prospects’ genuine interest in your approach and offerings can unveil insights into possible obstacles or overlooked chances.

Attaining Message Market Fit is a fusion of art and science – harmonizing audience insight with adaptive strategies. By embracing the iterative sales cycle and persistently refining our approach, we’ll undoubtedly uncover the sought-after formula for effective communication, engaged prospects, and triumphant success in the competitive marketing domain.

As our grasp and execution of Message Market Fit improve, we pave the path for resonant campaigns that leave a lasting imprint on the hearts and minds of those we aim to support.

As you conclude this exploration of Message Market Fit, consider the broader landscape of marketing strategies. To delve deeper into one such strategy, explore the benefits of Account-Based Marketing (ABM) in this informative eBook: Discover the 9 Benefits of ABM. This resource could provide valuable insights as you continue refining your approach to maximize engagement and success.

Don’t forget! We are here to support you every step of the way, and we can’t wait to see the incredible results you achieve. If you need help, don’t forget, you can book a call with our team!