I know I don’t have to go into detail about all that 2020 has or hasn’t brought you.
For us and so many of our clients it has been one of the best years in business. Both in financial and mindset growth.
Today I am going to share 4 New Revenue trends that you should consider bringing into 2021!
Trend 1: Know your beliefs
This year has proven that people are spending their dollars with businesses that share their similar beliefs.
From black lives matter to democracy to Why you started your business. If you aren’t sharing your beliefs with your audience you are missing out.
For an example: Rachel Rodgers had a million dollar month after she shared her opinion on Black Lives Matter movement on her Instagram.
Now I don’t believe you have to be that bold and extreme with your share, I’m not.
Your beliefs don’t have to fall in line with what is happening in the mainstream world. It’s what is true to you.
Here are a few that I’ve shared over the year:
- I believe you create a business to support your life.
- I believe you shouldn’t do everything yourself as a CEO. Build a team.
- I believe doing business online is the way to create New Revenue that leads to financial freedom.
- I believe that as a business you should provide value first and expect nothing in return.
Start by journaling a list of things you believe in. What do you believe to be true?
Trend 2: Know your customer
Yes, you’ve done the ideal client profile 10 times. But do you still struggle to step into their shoes?
This year for The CEO Partner I took about 3 months to get super clear and refocus on our target audience. I sent out a survey to clients we’ve worked with and found out that:
- YouTube and podcasts were sources for educational content.
- They only attend events that they are speaking at.
- LinkedIn was their preferred social platform.
This information helped me to target our marketing strategy and not waste time or dollars that weren’t going to reach my audience.
I recorded language potential clients used during sales conversation so I could use it on our messaging. In the past the message of the business was not clear enough to attract our target audience.
This is called Customer Discovery and we do this for clients in our Digital Product Manager partnership.
Trend 3: Know your numbers
This year everyone in the world learned about zoom. Then quickly became zoomed out.
Have you noticed that not as many people are on your calls live?
Pre-pandemic online businesses used to rely on a typical conversion of:
- 50% of the people that registered will show up to a live webinar
- Of that 50% on the webinar live you could have between and 10-20% conversion
With that formula you could calculate how many leads you needed in the top of your funnel.
Now the typical show up rate is between 20-30% of those registered. In between, you need to nurture and have all sorts of touch points:
- Email sequences
- FB Ads
- Direct Messages
- FB Groups
- And more…
This is where knowing your customer is important. You need to know where they are so that you’re in front of them to remind them to show up. It has to be easy.
Trend 4: Play the long game
What 2020 has proven is that it is taking longer to convert clients into high ticket offers.
We’ve seen success with smaller program launches that lead into a bigger commitment. This bigger commitment comes after you’ve built know, like, and trust.
One of my beliefs is to give value without expecting anything in return. I achieve that through this newsletter, our blog and our upcoming podcast.
By providing value you nurture your leads. At the end of this year we looked at our client list to identify:
- Where did they come from? (referral, list, social media)
- How long were they on the list before buying?
- What activities did they do before buying?
On average our clients are buying between 6-9 months after our 1st touchpoint.
This information was so key to improving our sales funnel. We will be adding in several touchpoints to keep leads warm, including physical mailing… which I’m super excited about.
I hope these trends give you some thought into how you can create New Revenue in 2021.