Episode 332: Building a Nation of True Fans, with Stephen Woessner.
Stephen is the CEO of Predictive ROI and the host of the Onward Nation podcast. He is the author of two bestselling books, speaker, trainer, and his digital marketing insights have been featured in SUCCESS, Entrepreneur, The Washington Post, Forbes, Inc. Magazine, and other media.
Good Morning Onward Nation\u2026I\u2019m Stephen Woessner. And I am really really excited for today\u2019s solocast because \u2014 it is going to be rock solid awesome!
One of the reasons that I am so excited is because I am returning to full teaching mode this morning with a powerful lesson about building your platform \u2014 more importantly \u2014 some practical and tactical steps about building a nation of what Kevin Kelly describes as \u201cTrue Fans\u201d who will help you mobilize and move your business onward to that next level.
True fans of you \u2014 true fans of your message \u2014 true fans of your business.
Fans who will support you \u2014 because \u2014 of the sacred bond you have built with them.
A bond that was built upon \u2014 and continues to be built upon \u2014 the foundation of the value you created, you delivered, and the value you shared with them on a consistent basis.
Whether you do that every day \u2014 every week \u2014 no matter what the schedule \u2014 no matter what the rhythm \u2014 the fact that you are consistent is what is important.
This is going to be such an awesome solocast \u2014 and I am delighted you are here with me \u2014 your time and attention mean so very much to me.
But before we dive deep into today\u2019s lesson\u2026I have a very important favor to ask. In fact, this is the first time I have ever asked this favor within one of my solocasts.
So, if you could do this \u2014 please know \u2014 it would mean a lot to me.
I\u2019d be grateful \u2014 and would really appreciate it \u2014 if you would go to iTunes and give Onward Nation a rating and then write a review for our podcast. I respect your time so I wanted to make this as efficient as possible to find us in iTunes\u2026so my team created a special link to save you time.
So if you go to www.onwardnation.com/itc you will go directly to our channel within iTunes.
Okay, why am I asking for this favor?
Last week, I was excited to share with you how Onward Nation is now listened to in 102 countries \u2014 and \u2014 that we had surpassed the milestone of 50,000 downloads. WOW \u2014 still a bit unbelievable \u2014 not going to lie \u2014 need to pinch myself to realize that yes, this is indeed our reality.
And I credited our growth to our incredible guests and all of the wonderful feedback we have received from you, Onward Nation \u2014 all of your comments on Facebook, LinkedIn, Twitter, \u2014 and \u2014 all of your emails. Thank you!
But in celebrating these amazing milestones \u2014 I made a mistake!
I forgot to mention a critical type of feedback that helps us reach more and more people with each one we receive\u2026and that\u2019s\u2026all of the ratings and reviews we receive inside iTunes.
With each rating and review we receive, Onward Nation\u2026you help us increase our rankings within iTunes \u2014 and \u2014 higher rankings means more people will see us in their search results \u2014 and potentially they will be seeing us for the very first time.
Each and every review helps more and more people in more countries to hear the wisdom and expertise shared by our guests each day.
So, if you haven\u2019t already given us a star rating and written a review \u2014 it would really mean a lot to me if you did.
It\u2019s simple to do. It doesn\u2019t take much time.
Again, just go to www.onwardnation.com/itc \u2014 or \u2014 if you are listening on your phone \u2014 you can give us a rating and write a review from within your podcast app on your phone.
We\u2019ve occasionally received feedback that leaving ratings can be a confusing process, so here are the steps in detail:
First, after going to the www.onwardnation.com/itc link, please click the blue button that \u201cView in iTunes.\u201d
Next, click on the link titled \u201cRatings and Reviews.\u201d
Next, click on \u201cWrite a Review.\u201d
If you are not signed into iTunes, you will be asked to sign in. If you are already signed into iTunes, it is likely that you will skip this step.
Finally, you will be able to leave a review. Don\u2019t forget the star rating!
So thank you, Onward Nation \u2014 and please know \u2014 I greatly appreciate all of your help, support, encouragement, and feedback \u2014 you make me and my team better every day \u2014 and \u2014 it is an honor to be here with you again this morning.
With that said\u2026let\u2019s get dialed in and ready for this week\u2019s lesson.
You ready? Because I\u2019m so totally ready \u2014 I\u2019m going to bring the thunder this morning, Onward Nation\u2026YES!
I spent quite a bit of time working through and preparing what I wanted to share with you today. Such an important lesson. How one of the vital priorities in your business should be to build a nation of true fans \u2014 to develop a sense of community, collaboration, and profitability around the purpose of your business.
Let\u2019s begin by breaking the phrase \u201cBuild a nation of true fans\u201d into its three core components.
First \u2014 let\u2019s tackle the word, \u201cBuild.\u201d How would you \u201cbuild\u201d a nation of true fans. Whether that\u2019s a\u2026
- Podcast
- Blog
- YouTube channel
- Instagram stories
The platform from a tech perspective is irrelevant \u2014 any or all of the above \u2014 will serve your purpose of \u201cbuilding\u201d a nation of true fans. The tech behind it all is relatively easy. Is there a learning curve? Sure.
Will you feel at times like you are trying to fly the space shuttle with so many knobs and buttons to push? Sure. How does Facebook Live work? What time of day should I create a story on Instagram? What kind of camera and mic are best if I want to be a serious YouTuber?
All of these are tech questions \u2014 and within an afternoon with your best friend Google \u2014 you can solve those problems and find the answers as long as you don\u2019t let the fear of the unknown become paralyzing to you.
So let\u2019s shift our focus away from the tech \u2014 and instead \u2014 focus on the value you will be providing through those channels. What\u2019s your story \u2014 how will you serve your audience \u2014 how will you make what you are doing so valuable to their business or life, that they actually consider you to be indispensable. That you become so consistent in the help, advice, recommendations, and over value that you are providing on a consistent basis \u2014 that you BUILD deposits in their emotional bank account. They begin to trust you \u2014 they begin to like you \u2014 and then because of them liking you and trusting you\u2026they move even closer to you by truly KNOWING you.
So, your first step in building your nation of true fans has nothing to do with the actual content delivery platform and has everything to do with the value of what you will be delivering \u2014 because your nation of true fans is built on VALUE. And if you get that right \u2014 the actual platform \u2014 or your conduit through which you share your value \u2014 will fall into place \u2014 and it will feel less stressful because the value you were called \u2014 put on this Earth to deliver \u2014 will then be in the driver\u2019s seat. You, Onward Nation \u2014 will become unstoppable.
Now let\u2019s shift our attention toward the word \u201cNation\u201d and break that down. And I want to address to make sure we address this because we live in a world where bigger lists, bigger subscribers, massive downloads, huge customer lists, etc. etc. etc. is what attracts headlines and massive attention.
I\u2019m here to share with you the reality\u2026you don\u2019t need an email list of 100,000 people\u2026you don\u2019t need to have a podcast that gets a million downloads a month\u2026you don\u2019t need to have a customer list with 20,000 prospects on it.
Nope. You don\u2019t.
That\u2019s not your Nation.
What you need \u2014 realistically \u2014 depending on the size of your business is somewhere between 100 to 1,000 high-qualified prospects.
That\u2019s it\u2026100 to 1,000 of the very best prospects who precisely match your client avatar \u2014 in fact \u2014 your knowledge with some of these people is so deep that you can boldly claim them as your Dream 50 prospects.
If you need a refresher on why your Dream 50 matters \u2014 please go back to Episode 308 of Onward Nation \u2014 and I map it all out \u2014 how to figure out who your Dream 50 is \u2014 and \u2014 how to romance your Dream 50 so they understand how important they are to you. Again, that was in Episode 308.
To take this point deeper \u2014 I want to share a very tangible example of a company that grew from zero to become a multi-billion a year company \u2014 yes \u2014 billion \u2014 with a capital B.
My mentor, Darren Hardy, former publisher of SUCCESS Magazine\u2026decided to interview my friend Cody Foster, co-founder of Advisors Excel and to share the interview on the March 2014 edition of the SUCCESS CD that rides along with the magazine.
You may remember Cody Foster, and the wisdom he shared, as my guest on Episode 81 of Onward Nation.
During the interview with Darren, Cody shared several personal stories of very humble beginnings \u2014 and how those stories \u2014 helped shaped the kind of company Advisors Excel has become.
A company packed full \u2014 wall to wall \u2014 of incredible people \u2014 a team whose sole focus is to deliver more and more value every day to the financial advisors around the country they are there to serve. And Advisors Excel team does it masterfully well. They have BUILT their platform \u2014 a platform that is indeed built on a solid foundation of value.
But\u2026did they build this platform by trying to serve the 60,000 financial advisors located in the state of Florida alone? No. How about all of the financial advisors up and down the west coast?
Nope.
Did they focus on spending large amounts of advertising dollars trying to reach everyone they could with their message of value, value, value?
Nope. Strike three.
Instead\u2026what they did focus on was carefully, meticulously selecting, 1,000 of the very best financial advisors who they wanted to earn the opportunity to serve. Yes, Onward Nation, Cody shared with Darren that they built a list of 1,000 financial advisors \u2014 just 1,000 \u2014 and then they went to work to deliver more value than another other insurance marketing organization in the industry to the 1,000 advisors they wanted to work with.
The 1,000 advisors became their Nation\u2026and advisors outside of the Nation didn\u2019t exist. Advisors Excel was solely focused on being the best they could be for this small group of prospects.
The result outcome? Well, in year six of the business\u2026they reached over $4 billion in revenue. $4 billion, Onward Nation.
When they are the right prospects \u2014 you don\u2019t need 10,000\u2026you actually only need a small number to make your business amazingly successful and profitable. 1,000 people \u2014 who you can love on \u2014 who you can support \u2014 who you can add value to \u2014 who then in turn are excited to do for you some of what you already shared with them.
So now, let\u2019s take this number \u2014 1,000 \u2014 deeper \u2014 because it is a magical number that we all ought to really focus on in our businesses.
Kevin Kelly was the first person \u2014 at least I think he was the first person \u2014 who popularized the theory \u2014 the notion \u2014 the strategy that if a business created a base of customers who were more like fans \u2014 1,000 True Fans in fact \u2014 then that business could become sustainable and profitable by simply focusing on the needs of its true fans.
And here is a link to Kevin Kelly\u2019s blog post as well as the long tail curve he created to illustrate the 1,000 true fans strategy.
Kelly describes \u2014 or defines \u2014 \u201cTrue Fans\u201d as customers who will help you mobilize and move your business onward to that next level. They are true fans of you \u2014 true fans of your message \u2014 true fans of your business.
Fans who will support you \u2014 because \u2014 of the sacred bond you have built with them.
A bond that was built upon \u2014 and continues to be built upon \u2014 the foundation of the value you create, you deliver, and the value you share with them on a consistent basis.
As I mentioned at the onset of this solocast.
Whether you do that every day \u2014 every week \u2014 no matter what the schedule \u2014 no matter what the rhythm \u2014 the fact that you are consistent is what is important.
According to Kevin, \u201cA True Fan\u201d is defined as someone who will purchase anything and everything you produce. They will drive 200 miles to visit your location.
They will buy the super deluxe version of your product even though they already own the standard version, too.
They have a Google Alert set for your name.
They have bookmarked your website.
They come to your product announcements \u2014 or \u2014 ribbon cutting ceremonies for a new office location.
They come to your book signings and ask for you to sign their copy.
They cannot wait for your next webinar \u2014 your next podcast episode \u2014 your next event \u2014 your next release of whatever.
And the best way to increase sales for your company is to connect with your True Fans directly\u2026so you need to have a platform built on value\u2026see? We keep coming back to that foundational truth.
Onward Nation, 1,000 true fans is a very reasonable number. As Kevin explains in his brilliant blog post\u2026 \u201cif you added one fan a day, it would take only three years. True Fanship is doable. Pleasing a True Fan is pleasurable, and invigorating.\u201d
The key challenge is that you have to maintain direct contact with your 1,000 True Fans. And you do that through building your platform \u2014 delivering value \u2014 and making sure you are using the right conduit so it reaches your 1,000 true fans on a consistent basis.
Again\u2026it doesn\u2019t matter if you use a podcast, blog, robust LNKD profile and LNKD publishing, long form posts on Medium, Instagram stories, Facebook Live, and the list goes on.
What\u2019s important to identify is not the platform you are most comfortable \u2014 but \u2014 the platform your fans use the most \u2014 what is the best conduit to them?
For me \u2014 it\u2019s this podcast, my LinkedIn account, email campaigns, and webinars.
But there is also another piece to True Fans\u2026and that are the concentric circles of \u201cLesser Fans.\u201d
These folks will not purchase everything you produce, and may not seek out direct contact, but they will buy much of what you produce.
The processes you develop to feed your True Fans will also nurture Lesser Fans. As you build your nation of True Fans, you will also add many more Lesser Fans.
And as you are building\u2026don\u2019t avoid\u2026don\u2019t miss the opportunity to go deep\u2026to develop intimacy with your audience\u2026with your true fans.
Onward Nation\u2026that is one of the reasons I ask for feedback in every solocast. My team and I legitimately want to get better \u2014 but \u2014 I also want to hear from you \u2014 to get to know you \u2014 to learn from you \u2014 and to deliver even more value so Onward Nation becomes \u2014 and hopefully remains \u2014 your most favorite podcast.
Okay\u2026with that said\u2026and before we go\u2026I want to make one final connection between today\u2019s lesson and the favor that I asked you to do for me at the onset of our discussion today.
I know that I have absolutely no permission to make an ask of your time \u2014 unless \u2014 I have consistently delivered value.
And \u2014 even if I have consistently delivered value \u2014 I must be considerate in the favors I ask for \u2014 no one wants to spend time with the takers \u2014 the people who just ask, ask, ask, and never ever give.
So, Onward Nation \u2014 I am using today\u2019s solocast as a way to ask for a legitimate favor \u2014 and \u2014 to give you a recipe for how you can do the same to build you own nation of true fans \u2014 and when you do \u2014 your nation \u2014 just like Onward Nation has become this amazing, awesome, wonderful, beautiful incredible platform of people who are so generous with your feedback and help guide your business in the exact direction it needs to go in order to deliver even more value to what it is they need.
So build your own platform for your business \u2014 or if you already have one \u2014 think about Kevin Kelly\u2019s lesson \u2014 and ask yourself how you can add even more and more value to your the people already in your community \u2014 and build your nation of true fans.
Because when you do \u2014 your business, your team, your life will move onward to a completely new level.
So with that\u2026I want to say thank you again for taking the time to be here with me today. It is an honor to have you here \u2014 thank you for tuning in \u2014 I am delighted you chose this episode to be what you listen to, study, and take with you on your morning run, or maybe Onward Nation has become part of your daily commute, or in some other way has become part of your morning routine.
I want you to know how much I appreciate you sharing some of your invaluable 86,400 seconds you have in your day with me and the strategies we learn and share each day from today\u2019s top business owners.
And please continue to let me know what you think of Onward Nation\u2026good or bad\u2026I always want your feedback.
We will be back tomorrow with an incredible encore interview with Paul Maskill \u2014 you will not want to miss Paul\u2019s philosophy when he encourages you to, \u201cGo ahead \u2014 make mistakes on purpose,\u201d Onward Nation. The conversation with Paul is packed full of discussions regarding systems \u2014 and more specifically \u2014 how he used systems to sell his company for 6 times what he bought it for and 4 times the profit. This systems discussion will help you create financial leverage within your business.
Until then, onward with gusto!