- Standard mindset changes “The New Norm
- “The average person has adopted a new norm that they live in. New rules for life mean new life changes. Thinking beyond today is critical for success.
- Technology advancement “The Hype Curve”
The technology hype curve is adopting a radical rate. Online learning, shopping, delivery services, telehealth are all norms. Business must move online to survive this period.
- World Wide Recession
- Have Everlasting Appeal – Evergreen products and services will always have some large segment of audience interested in them. Think: food, clothing, housing, health care.
- Evergreen Drives Purpose and People First – Evergreen audiences are driven by compelling vision and mission. They are often private businesses, and put people first.
- Growing in Recessions – History shows that many evergreen markets develop and grow in a recession. Proper niches and innovation are critical for this.
Preparing Your Business Mindset
- Adopting the proper mindset is monumental to success.
- We must leave our comfort zone and think “Outside the Box”
- Products and services need redesigned for todays challenges and tomorrows world.
- Technology needs to be embraced and incorporated now.
- Your business needs a dedicated online presence and community for your clients.
- Plan your businesses with tomorrow in mind, where will you be in 12-18 months?
- Become your clients trusted advisor.
- Know your strengths and invest in your weaknesses.
- Never give up on your dreams and passions. There is always a way!
Your Products and Services
Moving to Digital Products
- Digital products are the new norm for many service businesses today.
- What will be unique about yours?
- How will you innovate your digital product?
- Live Classes, recorded classes, AR, VR?
- Incorporate payment systems.
- Know your geography.
- Price your product for your audience!
Building a Recurring Revenue Model
- Whatever digital product you create you need to develop a recurring revenue model from it.
Outsourcing Your Weaknesses
- Don’t try to be a one man band, outsource the things your businesses needs to be successful online.
- Your competition is doing it.
Finding Your Audience
Know Your Niche
- Most businesses mess up here.
- Your product is not for everyone.
- Knowing who your product is for is a key factor to growing your business.
- Take the time to research your niche, or focus down on one.
- Exp: Don’t do Yoga for everyone, do Yoga for expecting mothers.
Know Your Geography
- Again, most people don’t get this right.
- Your audience may be all over, but your budget is limited.
- Target where the heart of your niche is.
- Learn what technology/platforms your audience is using.
Get Active Where your Audience Is
- Get involved where your audience is at.
- Not just once or twice, do it regularly.
- Become a Thought Leader in your space.
Marketing Your Digital Products
For this to work:
- Pick Your Platform(s) – This method will work on most social platforms, E.g.: Facebook, Instagram, LinkedIn, Quora but it is important to start with just one! Each platform is a bit different, but they all work on a Pay Per Click and Audience reach model. They also allow you to build your audience.
I highly suggest Facebook as your first platform.
- Existing Lists – If you have an existing email list of your target audience, these platforms can learn from it and better target who you are looking for.
- Develop a Funnel – Your marketing funnel is used to move your audience from the top to the bottom of the funnel.
- Top of Funnel (TOF) – Cold Traffic, need to get their attention with something free or VERY low cost
- Middle of Funnel (MOF) – Warm Traffic, visited your website/landing page is likely your audience
- Bottom of Funnel (BOF) – Hot Traffic, signed up for your top of funnel or purchased something from your website. Definitely your target audience.
Build your products to compliment your funnel! Build Content to compliment your products!
Top of funnel content for a boutique studio could be a free live class, a free on demand class, a downloadable fitness program, a video of intro exercises or stretches, be creative on what brings value to your audience.
Marketing Your Digital Products – Facebook Marketing
- Facebook undoubtedly has your audience.
- We can fine tune who we target.
- Facebook lets us create ads for each area of our funnel.
- Comparatively, Facebook is very cheap to get new leads from.
You can do this yourself and there are guides to help but a professional marketing team may be able to help you execute it smoother and more effectively.
Once we get our new leads from Facebook, we aren’t done. Most leads take multiple touch points to become customers. Email marketing is the best way to follow up Facebook.
How Much To Spend?
- Start with $10 per day for 2 weeks. You should see some level of success if your ads are working.
- This should rapidly move up to $25-$50
How do I Measure Success?
- You need Google Analytics configured for your website.
- You need a good link tracking platform to monitor who, what, where your content is consumed.
- Facebook ads should start bringing you in new leads within a week or two.
- You should start to see a 2x-3x return on ad spend within 45-60 days.
- Develop your products for online – Remember to innovate and create with the end in mind.
- Know your audience– You can’t target what you don’t know.
- Be persistent.- Digital marketing takes time and tracking. Measure your success and repeat.