The Top 3 Marketing Trends to help grow Your Business
Nature is not the species with the highest strength who survive, nor the most intelligent, but the ones which are the ones that can adapt to changing conditions. It is the law of natural selection that is at work. And you can see this law at work in business too.
In your role as an entrepreneur it is essential be open to and to adapt to change in order to be successful and endure. Technology changes or in the wants and needs of your clients, and changes in your competition all have the potential to ruin your business if in a hurry. Instead of avoiding the inevitable, get in front of it whenever it comes up and then adjust in line with the changes.
Now is a great opportunity to create a company on your knowledge
In all industries, customers look for data to aid them with a particular problem or attain a particular result. This presents a huge opportunity for individuals to package the knowledge they have gained into programs, products, or services that are offered for sale at a profit.
To put this into perspective To put this into perspective, the 2017 global market for online education (e-learning) reached an enormous $255 billion ( World Economic Forum). This doesn't even include the amount of money being invested in coaching, consulting, professional advice, or non-fiction books.
If you're an author, speaker, trainer, coach consultant, online course creator or a service supplier, there's something new that you must know about as you develop your business.
Since the beginning of time, an enormous amount of free and inexpensive information has been published online. Some of it is great (and some less so) however the truth is that information is no longer of its value as was once the case. In many industries the information is now something of a commodity. This means selling information has become ever more challenging.
Customers aren't likely to need additional information. They already have plenty of information available at their fingertips already. The only thing they require is someone to aid them to apply the appropriate data in the correct way,to solve their problem or achieve the result they want. What they require is change.
The dawn of Transformation Age
I'm not sure who's responsible for defining the time period we're in however, if it were mine to decide, I wouldn't be calling this period the Information Age anymore. It's"the Transformation Age.
We are transitioning from our Information Age to the Transformation Age, there are some things you need to know to help you adjust your company, grow faster, and make a positive impact in the lives of others through your experience and knowledge.
Trend 1: Building Community
The old way:Build a massive audience
The rise of social media has led many entrepreneurs to forget on what is truly important. Instead of focusing on creating excellent products and services for their clients, they began looking at vanity metrics like the amount of followers, likes comments, shares and shares they get on their social media pages.
As an entrepreneur, you don't require millions of people to know who you are in order to build a successful business, and it's not necessary to establish yourself as known as a household name. If you're not creating a global name (think Coca-Cola, Apple, Disney or any of the others.) it's not necessary for the whole world to know who are.
The newest way:Become the leader of a community
Instead of attempting to create a massive audience, shift your attention to being an influential leader in a group with a niche. Determine your ideal clientele and then create a place where they can interact with each other, share ideas, support each other, and reach out to your directly.
Facebook is leading the trend in building online communities. Earlier in 2018, Mark Zuckerberg announced a important change in the way they display posts in their News Feed. As time goes on, Facebook will be severely limiting the organic reach of content posted by Facebook Pages. Instead, they are instead informing publishers to build meaningful interactions and build communities.
Related:
"Those companies that have strong tribes and have developed an authentic community will be able to shine. Those who do not have it are going to need to catch up quickly."
- Scott Oldford
Trend 2: Premium pricing
The old way: Start by offering low-cost items, and later sell your customers more expensive products.
The past couple of years, we've watched many entrepreneurs in the early stages have to come up with what's often referred to as the "Ascension Model" of products and services.
In the Ascension Model, you start by selling something inexpensive (like books or a short course), and then you increase your sales to greater-priced items and services like coaching, consulting, or live occasions. This is what it could appear like:
What doesn't work is trying to sell someone a course when what they really want is private coaching, or trying to market private coaching services to someone who is looking for you to take on all the work on their behalf, or trying to sell tickets for a conference for someone who would like to join a mastermind group.
Each of these kinds of merchandise and programs will appeal to different types of customer with different priorities and financial budgets. Although upselling is a great idea in principle, there are some clients who have a clear idea of what they are looking for that in the majority of situations isn't your most cost-effective offer.
The new way:Start with high-touch offers with premium prices
The marketplace is shifting from demand for information to the demand for transformation. Customers need help achieving results and are willing to spend more to get the assistance they require.
With that in mind it is not advisable to sell your customers your least inexpensive product at first to increase the chances of selling customers on a higher-priced product or service at some point in the future.
Particularly if you're at the beginning stages of establishing your business as an expert, our recommendation is to sell a high-touch service (coaching, consulting, done-for-you service, etc.) prior to the time you start selling less expensive information products including books and classes. When you have reached your ability for working with people one-on-one, then start creating products to help more people.
Many entrepreneurs in the early stages don't realize is that it can be hard to sell cheap textbooks and online classes to a huge variety of clients successfully. If you've just launched your business, focus on selling your more expensive premium products first. then use the profits generated by those sales to finance the creation and the promotion of your less expensive products.
Trend #3 the Customer Experience
The way of the past:Acquire as many customers as you can
Many entrepreneurs make the mistake of focusing all of their efforts on acquiring new customers, but at their expense in giving a good experience to the clients. Therefore, a large portion of their customers will never purchase in the future or recommend other customers to them. It's an unending (and costly!) cycle of having to continually acquire more customers to remain in the business.
In the event that competition in your sector grows, so do expectation of the target market, not providing your customers with a positive satisfaction before and after purchase from you can have an adverse impact on the profitability and longevity of your business.
The latest method:Help your customers achieve the success they desire
It is the result that your customers want and appreciate. To your customers, your product or service may be just a means to the goal, but it is likely to be just one option among many alternatives that claim to attain the same goal.
So while acquiring new customers is crucial, supporting your customers can be more important, and vital to the expansion and success of your business. If you don't aid your customers to achieve what they desire from the product or service you offer and they don't stay the long-term customer of yours.
Today's most successful entrepreneurs have a keen understanding of the particular challenges and outcomes for their clients and creating unique experiences that help their customers overcome the obstacles they face and reach their desired results. They're placing a high value on the customer experience as well as their success..
Related:
"We're not in business solely to convince people to purchase our items. We want them to be able to perceive the change and the effect and the tales ."
- Nick Unsworth
Learn the specific strategies to help you adapt to these trends
There has never been a more ideal time to start an organization through sharing your expertise and experience with other. All of the , platforms and tools can be needed for establishing a successful company are available to you, and there is many people who could benefit of your experience and expertise and willing to be willing to pay.
As thousands of industry experts and entrepreneurs build their businesses in the coming years, those who build a reputation for having successful customers are likely to rise to an elite position in their industry. If you are willing to embrace and adjust to the trends that we've discussed in this post, we are confident that you'll soon be among them!