The Top 3 Marketing Trends to Grow Your Business
In the natural world, it's not the strongest species that survive, nor the smartest, but the ones which are the ones that can adapt to change. That is the law of natural selection at work, and it is evident working in the business world also.
As an entrepreneur, it is essential be open to and to adapt to changes in order to thrive and survive. Changes in technology and trends, as well as changes in the needs and expectations of your customers as well as changes to your business rivals can all destroy your business if not careful. Instead of avoiding change, it's best to be aware of the changes as it occurs and adapt to it.
It's the best moment to start a new business around your expertise
Every industry has consumers who seek out information that can assist them in solving a challenge or achieve a specific result. This presents a huge possibility for those who want to pack the knowledge they have gained into products, programs, or services that are sold at profits.
For a better understanding, in 2017 the global market for online education (e-learning) has reached $255 billion ( World Economic Forum). This doesn't even include the amount of money being spent on coaching, consulting, professional advice, or non-fiction books.
But whether you're an instructor, author instructor, coach or consultant, an online course creator or even a service company, there's an emerging reality you need to know about as you establish your own company.
Over the past several years there has been a huge amount of cheap and free information has been published online. A few of the information is excellent (and certain of it is less so), but the reality is that information has lost the perceived value that it once did. In a lot of industries Information has turned into an item of trade, meaning selling information has become increasingly difficult.
Your clients probably don't require any more details. They already have plenty of information accessible to them already. What they need is someone to help them to apply the appropriate details in the proper sequence,to solve their problem or get the outcome they want. What they need is a transformative.
The start of Transformation Age
I don't know who is responsible for defining the current era, but if it was up to me I would not call this era the Information Age anymore. I would call it the Transformation Age.
As we shift between an Information Age to the Transformation Age, there are some trends you should know about so you can adapt your business, scale quicker, and have an impact on people's lives through your experience and knowledge.
Trend #1: Building Community
The way of the past:Build a massive audience
Whatever the reason, the rise of social media has led countless entrepreneurs to lose focus on what is truly important. Instead of creating great products and services for their clients, they began looking at vanity metrics including the number of followers, likes, comments and shares that they see from their social media accounts.
Entrepreneurs do not need millions to know who you are for you to create an effective business. And there's no need for you to establish yourself as famous. If you're not creating a global company (think Coca-Cola, Apple, Disney and so on.) it's not necessary for the whole world to know who are.
The new method:Become the leader of a community
Instead of trying to build a huge audience, change your attention to being an authority with a niche. Find out who your ideal customers are and then create a place where they can interact with each other, share ideas, support each other as well as reach out to them directly.
Facebook has set the pace for trend to build online communities. The year before, Mark Zuckerberg announced a important change in the way they display posts in the News Feed. As time goes on, Facebook will be severely restricting the organic reach of posts from Facebook Pages. Instead, they're encouraging publishers to develop valuable interactions that develop communities.
Related:
"Those companies that have solid tribes, and who have built a real community are going to shine. Those who don't have this will need to get their act together quickly."
- Scott Oldford
Trend 2 The trend is Premium Pricing
The traditional way: Start with low-cost products and then increase the price of your products to attract customers.
Over the past few years, we've seen many entrepreneurs in the early stages have to come up with what's commonly referred to as"an "Ascension Model" of services and products.
If you're using an Ascension Model, you start with a low-cost product (like books or a short course) Then, you increase your sales to higher-end products and services such as coaching, consulting, or live events. What this could appear like:
The thing that doesn't work is trying to market a product or service when what they really want is private coaching. Likewise, trying to market private coaching to someone who is looking for you to take on all the work on their behalf, or trying to sell a ticket for a conference for someone who would like to be a part of a mastermind group.
Every single one of these varieties of products and programs is a target for a distinct type of client with different needs and budgets. So while upselling sounds great in principle, there are some clients who are aware of what they need, which in many cases doesn't mean it's your least expensive offer.
The new way:Start with high-touch offers as well as premium pricing
The marketplace shifts from the demand for information to the demand for transformation. People need help to achieve results and are willing to pay a premium for the help they need.
With that in mind it is not advisable to convince your clients of the cheapest product first, to increase the chances of selling them a more expensive product or service at a later time in the future.
Particularly if you're at the initial stages of building your business as an expert We recommend that you market a highly-touch service (coaching, consulting, done-for-you service, etc.) prior to the time you can begin selling information products that are less costly like books or courses. As you grow in your capacity to work with individuals one-on-one begin to create items to assist more people.
The thing that early stage entrepreneurs do not realize is that it can be very difficult to promote inexpensive ebooks or online classes to a huge amount of people profitably. If you've only just recently started your company, concentrate on selling more costly high-touch offers first, and later, use the money generated by those sales to finance the development and promotion of your less expensive offerings.
Trend #3 The Customer Experience
The traditional way:Acquire as many customers as you can.
A lot of entrepreneurs commit the error of focusing the majority of their efforts on acquiring new customers, but at their expense in providing a great experience to their customers. This means that a lot of clients never purchase from them in the future or recommend other customers to them. This creates a vicious (and expensive!) cycle where the entrepreneur must constantly find new customers in order to stay in the business.
The competition within your field increases, along with expectation of the prospective audience, neglecting to provide your customers with a positive customer experience prior to and following the time the purchase could have a negative impact on your profitability and sustainability of your business.
The latest method:Help your customers achieve the success they desire
There is a specific result which your clients want and will appreciate. To your customers, your product or service is simply a means of achieving the goal, but it is likely just one of many alternative options that promise to help achieve the same result.
So while acquiring new customers is important but assisting your existing customers is even more crucial and essential to the growth and profitability of your business. If you don't help your customers get what they desire from your product or service, they likely won't remain with you for long.
Today's most successful entrepreneurs focus on understanding the particular challenges and results of their customers, and creating unique experiences that aid their customers to overcome their obstacles and get the desired outcomes. They're putting a premium on satisfaction of their customers and achieving success.
Related:
"We're not in business solely to convince people to purchase our products. We want them to be able to perceive the changes and their effect and the tales ."
- Nick Unsworth
Discover the methods to assist you in adapting to these changes
There's never been more ideal time to start an enterprise through sharing your expertise to others. Every platform, tool and tools you will ever require for establishing a successful company are available to you There is a huge market of people that can benefit from your knowledge and experience and will pay for it.
While thousands of experts in the field and entrepreneurs work to develop their business in the coming years, those who establish themselves as having successful customers will be at an elite position in their field. By embracing and adapting to the new trends mentioned that we've discussed in this post and we're sure you'll soon be among those!