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Things are constantly changing in the online business world, especially with the rise of AI. So, in today's episode, I'm having another Biz Bestie Chat with Anita Siek who's the founder of Wordfetti, a human-centred copy and brand house and template shop for brands that don't do “normal”. This is our third episode over the last couple of weeks and we're openly sharing our business predictions for the year ahead.
– Our insights and predictions on what we believe will be the major shifts in the online business and marketing landscape.
– How using AI and automations can never replace this *one thing* that business owners AND their audiences want and need.
– Why evaluating business models and messaging will lead to a shift in course and program delivery.
– The changing dynamics of social media in business, including the importance of long-form content.
This is the third part of the three episodes of Biz Besties Chat that I did with my friend Anita Siek from Wordfetti.
We're doing some predictions for what is going to happen in the online business space? What do we think are going to be some of the big shifts happening in launches? And I'm really excited about this because Anita and I actually had very different opinions on one particular topic, that topic being social media.
Anita, what do you think is going to happen this year?
You know what? I think one of the big key predictions, which to be honest, I think I mentioned this maybe even last year, but I think last year, big rise of AI and chat. Last year, chat GPT, AI, chat GPT is going to steal all our jobs. And then we realized, oh wow, it's actually great. Don't get me wrong. Chat GPT is really powerful but I think with the rise of AI and automations, we're craving genuine human connection. And I think one of my biggest predictions is the fact that brands who are anything in the realm of humanization, so I'm talking about whether or not it's a personal brand, whether or not it is the element of just personalizing a customer experience, whether or not it is community, like building communities, I think is going to be one of my biggest predictions because I think also in the last two, three years, more rise in competition as well.
So I think one thing that is very hard to copy, which is human connection, is going to be a big focus.
I think it's not going to be just content. I think it's going to have a flow-on effect to courses, programs, all of that. I think there's going to be more of a need for the higher touch personal. I think there's going to be less of a focus courses where they just load you up with information rather than giving you the action steps.
Because if you want to go and find information now, it's only going to get easier. But I think where there is going to be this gap is you as the expert know what somebody needs to do to be able to implement and get those results. And there's going to be a big gap in turning that new knowledge into action.
And the things that live in the gap are that support, that community, the mindset support, especially, you know, when somebody's procrastinating on taking action on what you taught them, there's going to be a need there for that human connection of how can I help you to take that action?
Yes. A hundred percent.
You know what that reminded me of in terms of the second thing that I'm predicting? Value stacking is out.
Do you want to explain what value stacking is for our readers who don't know?
All right, value stacking, you're imagining a sales page for a course. Let's just say, when you're scrolling, instead of it just being like, this is the course, value stacking is when you're like, you get this, but you also get this and this and this and this and this and this and this.
That's value stacking, like a hamburger, you also get the cheese and the bacon and a double patty and the mayo, like it's value stacking. So that's what I mean when it comes to value stacking. Not to say bonuses are out. I think bonuses and having an element of a bonus will still be powerful.
And I think templates, etc. may still be helpful. But I think this strategy and idea of value stacking, may overwhelm people. That is my prediction. I agree. I think people aren't buying as much based on, Oh, this is a really good deal. I'm getting 10, 000 worth of stuff for 1, 000 ── just because you said that it was worth 10, 000.
Like most of the time it's not right. But I do think, I think bonuses play such an important role in overcoming objections. And I think they're going to only play more and more of a role in that.
And also having said that, I think that the entire selling process, regardless of how you are selling, is going to be less of this hype style. It will be more of a, how can I help you make a decision? How can I make sure all of your questions are answered? How can I help you to decide, is this right for you? Is this not right for you? We don't want the wrong people to buy our courses because then they don't get results either.
I'm going to add one of mine because now I've kind of piggybacked on both of yours.
A lot of people started businesses in 2020. That was now four years ago. A lot of them are now kind of getting to that messy middle point in their businesses where they are making an okay income, but they're just constantly peddling and they can't seem to get out of that level where they are at right now.
They can't take on more clients, so they can't make more money. They can't let go of clients because then they'll lose money, but then they might have some free time. So they're in this tricky situation. I predict that they're either going to, some of them are going to take the time to step back, put in the foundations, the systems, change the business model, do what needs to be done to grow and evolve. But I also think there's going to be a huge chunk of people who burn out and unfortunately give up.
And as sad as that is, I think that's what's going to happen because we did see so many new online businesses pop up and unfortunately nobody's really equipped these new business owners with the basic business knowledge of this is what your business model is going to be like, maybe think about how you want to scale, what's your vision for the business, how the offers that you're selling, serving that vision, all of those bits and pieces.
And yeah, you kind of get to a point where it's a lot and then you can either change something or ─ give up, unfortunately.
That is such a good call out. I agree. I didn't even like think of that, but it's so true because I think there's a difference I always say between being really good at what you do, and being well known for what you do.
And just because you're very good at doing something does not mean you should necessarily start a business in it because you're soon going to find out that it's not just about being good. Being good at what you do is just a standard. You need to also be good at sales.
You need to be good at marketing. You need to be good at systems. You need to be good at finances. And if you're not good at all of those things, then you need to either learn how to be good at those things, or you need to hire somebody who is good at those things. It's probably one of the hard truths that people don't realise.
I mean, even me, I love to write. I am really good. But then you start to realize, being good at writing is not just the only thing that you need to focus on. There's so many other things that you need to consider.
Do you have the right product suite? Does the product suite align to also how you want to create impact?
I think it's going to be a very important question to think for yourself, what do you actually want? What does success actually mean for you? Like what does the next five years of your business look like? Not just the next month. It's so easy when you're starting out to be in such a short term mindset.
Because you're really in business survival mode thinking, Oh, this is how I'm going to keep the lights on for the next month or three months. You're not thinking about five years ahead because the idea that your business might be around in five years time, when you're just starting out, that's a pretty big concept.
If you're not thinking five years ahead, then you're going to end up down a pathway of a business that's maybe not aligned with what you want in the long term. I've been there. I think you've been there as well. And it's a lot easier to figure it out or get it right the first time around than it is to go down that path and then burn everything down and start again.
I think that really closely goes with the fourth prediction. I think this year people are going to be asking some questions and reflecting a lot. And one of the things would be, especially because of the wobbliness of the economy and the pandemic, but I think people are going to be asking a lot of reflective questions, such as does my messaging still align? Does my offer suite still align with what I want to create?
In the beginning of the pandemic, we had to move quickly, which I think is both a pro and a con. Pro because it's amazing how so many businesses pivoted and moved and things that were in person were moved online, but it's like, then they were just like keeping it going to the best degree that they can.
But I feel like they could be now thinking, is our old way of operating going to actually help us get to that next level now? I think a lot of reflective work would be my next prediction. Reflective work in the realm of your brand, your messaging, your marketing, your offer suite.
I think for most businesses, if you're still using the same messaging that you're using in 2020, it might be time for a refresh. Yes, definitely be tweaking your messaging to align with the current economy and consumer behaviour.
The next one I had on my list – I think there's going to be an even bigger shift away from social media.
You might disagree. I know you're a bit more of a social media user than I am, but I've noticed people are starting to spend less and less time on social media, specifically when it comes to their businesses.
They're leaning towards not wanting to have to show up. I don't want to have to be on stories and doing carousels and doing reels and all of the things. I think there's going to be a bit more of a negative sentiment towards it. I've predicted this for the last two years and each time I'm noticing it gets more and more negative sentiment. So I'm curious your thoughts on this.
Ooh, that's interesting. As in less of a preference for social media. Yes, as in less time spent on it, less of a positive feeling towards it, more negativity towards it. Yes, my opinion here differs from yours on this one. I think we're still going to crave an element of social media, but I think what I'm predicting is, what we expect on social media might be different.
I think gone are the days where you can just regurgitate the same old things that I can probably get on Google. I don't think reels are going to be as hot, which is slightly controversial. I think we'll still use social media, but I think the type of content that we would want to be consuming is more human-based content on social media channels.
I also think longer form content is going to be much more important. You know, anyone can create short-form content consistently. But creating long-form content like you and I do with the podcast consistently is a lot of work and it takes a lot dedication, and commitment to be able to do it consistently.
I think that's going to be what really separates the people who are serious about growing their business from those who are kind of just like, Oh yeah, I'm going to show up when I feel like it.
My final prediction is the idea that the ability to translate what's in your mind into words out there, it could be voice, it could be a blog, but your ability to translate what's in your mind out there into words, is going to be key because you can go on Google. You can listen to so many different podcasts, but your ability to inject in your insight and take one concept and translate it into five different formats. That I feel is the secret sauce for so many great quality content creators like yourself, Steph, like being able to take one hero piece of content and having a system to then cross-pollinate.
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