Here are 5 business trends and predictions for 2019 that every business owners needs to know about:
Getting on your potential customer’s radar will continue to get harder and more expensive, because the cost of advertising continues to increase.
The cost of “selling” therefore will continue to rise.
What this means is that the lifetime value of a customer will increase in importance.
Smart businesses will therefore be willing to pay more money to get a new customer because that customer will be worth more to them in the medium and long term.
Sales funnels will focus on turning leads into customers faster.
Potential customers will be okay with this because their attention span is decreasing and they genuinely want a good solution that solves their problem.
Direct “Lead to Customer” and more direct and smarter funnels will be the focus in 2019.
And as noted above, the cost of acquiring a customer through these more direct funnels might be more expensive. But that’s okay because there will be more profit overall.
This is not to say that providing value in the form of content over time in a way that builds trust and relevance isn’t warranted – it is, but there will also be a move to implementing shorter more direct funnels.
See an example of a direct funnel here. **You will need Facebook Messenger to access it.
Mid priced programs and offers between $200 – $1000, will become nearly impossible to sell.
BUT demand for low-end and high-end offers will continue because people will want value and personalisation.
Another significant factor is that the cost of “selling” will continue to rise (as previously noted).
This means that smart businesses will focuses on selling $2,000+ products.
And those selling low-end programs will look to ideally generate leads organically through things like blogging, social media, Pinterest etc. (as opposed to using paid traffic).
In saying all of the above there are some products and niches that are so hot right now that offers sell well no matter what the price point!
Facebook advertising has been the gold standard for paid traffic.
However in 2019 Facebook advertising will get less and less effective. Costs continue to rise and with “everyone” advertising on Facebook, people are switching off and ads becoming less and less impactful.
On the flipside, advertising on Instagram and Influencer marketing will become increasingly effective.
The attention on Instagram and the reach that Influencers have, is rising. This and the fact that ad costs are relatively low, means that business owners should seriously consider this as a marketing channel in 2019.
As the online business industry matures, business owners are realising that it isn’t about short term (sometimes one-off) wins; for example doing a live launch and earning a lot of money in one month but not much the rest of the year.
Instead it’s about having consistent income throughout the year. One way to do this is to choose an evergreen launch strategy. This means that you are selling all year round instead of in short bursts.
And the best part of this strategy it can all be automated. So you can be selling while your off traveling in the South of France. And who doesn’t want that!
That’s it. These are the key trends will give you the biggest impact in the year ahead.
Are you looking to stay ahead of your competition and uplevel in 2019?
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