In 1997, when renting videos was king, Blockbuster was worth nearly 10 billion dollars…
Yet, one customer wasn’t satisfied with how they were doing things…
Because he hated getting late fees!
Yet Blockbuster was making a whopping 800 million on these late fees (16% of their revenue).
So, they weren’t going away…
Reed Hastings was so upset about it; he started his own company –
Where you could rent as many videos as you wanted for a monthly subscription.
The best part was – nobody got late fees!
And when the Internet got bigger, their mail-order subscription service provided video streaming to their customers.
Yes, I’m talking about the corporate giant, Netflix.
Like many other companies, we know today –
They survived because they embraced the change…
Meanwhile, Blockbuster was too big for its britches to adopt the technology…
Yet in 2000 they had the opportunity to buy Netflix for $50 million –
A mistake, I’m sure they regret to this day.[i]
What BIG Changes Are Coming in 2023?
Because things are shifting again…
And we just had enormous changes:
While Your business may have weathered a few storms.
What else is coming?
And are you ready?
In the 90s some said:
The Internet is a fad…
Well, they were wrong, and it cost them.
If you can see the trend before everyone else does – not only can you survive a storm, but you can ride the storm waves to success!
For example: In 1996, I was one of the first entrepreneurs to get creatine into the market and it did fantastically.
When you find the right wave to ride, you can come out on top.
Here’s what I expect this year – and what you can do about it…
#1 – The Emotional Shift: The End of the Speed Dating Era In Marketing
Ever hear of “Speed dating?”
It’s a group event where you spend a brief five minutes (one on one) with a man or woman you might want to date –
You go from table to table when the timer beeps to introduce yourself, yet you are not obligated to date them.
When you do find someone you like – you ask for their phone number so you can set up a date.
Have you seen this in marketing?
This is what I call – “Churn and burn” marketing…
It was the kind of marketing that happened when the Internet was new.
Dot coms would create and sell cheap products and they burned through their clients like speed dating.
This high turnover rate was possible because online advertising was affordable…
The algorithms were simple…
You had little competition…
And it was easy to get seen.
The easy money attracted big claims and big lies by some marketers…
And there was very little if any accountability.
The new Internet became “The Wild West of Marketing.”
It was a time of easy growth and limited responsibility.
Yet those days have come to an end…
#2 – The Tech Shift: The End of the Wild West of Internet Marketing
If you saw the Wild West trend and rode the wave –
Congratulations on seeing the opportunity!
Yet now things are changing:
- Digital Ads are more expensive
- AI is producing MORE content faster than before
- The Internet is more regulated
Here’s the Reason Why:
The 2020 shutdowns changed a lot of things…
As shutdowns occurred, traditional businesses were forced online.
The accelerated demand for digital advertising created more business competition. And the cost of online ads was determined by a bidding system…
With more people online bidding for your customer’s attention –
Ad prices went up…
Then TikTok came along and became the most popular platform for younger audiences. And when they raised their ad prices –
The other social media platforms followed.[ii]
While Digital Advertising is still a valuable part of marketing strategy, it is no longer the easy way to economic freedom for a small business – like it once was.
And with Artificial Intelligence, the Internet is about to be even more saturated…
Because AI Can Produce Content Faster Than Ever Before
Now both graphics and written content are being automated.
While this may add to the noise online – as more of us adopt AI to streamline our work, it will become more functional.
On top of this, there is a new Sheriff in town, looking for trouble…
The Internet is Becoming More Regulated
Social Media platforms have changed their standards for ads –
And the FTC is cracking down on businesses…
I’m not sure what they’ve been doing since the early 2000s, yet suddenly they’re on a mission to protect the consumer from potential fraud…
Or any big claim…
Or false discounts…
Or coaching without a license…
Or fearmongering about the economy…
So, it seems, the wild west days of internet marketing are coming to an end.
And you’ve got to be more careful about what you say –
(Especially if you’re a financial advisor or investment coach)
Facebook and the FTC are now monitoring your ads, your claims, and customer sob stories…
In summary: You now need to make sure your customers are happy, or you might be investigated and shut down.
#3 – How to Ride the Wave of These Trends To Come Out on Top: Positive Marketing
I grew up in Germany, with castles everywhere…
When my family moved to America, I asked my parents if we could go see some castles.
They responded that they don’t have castles in America…
I was pretty disappointed about that.
Because I grew up thinking everyone should have a castle.
They are fun, functional, and much better than a house.
(Ask any boy)
Well if you want your business to be built strong so it lasts hundreds of years – like a castle…
You’ve got to focus on delivering quality too.
And if you have a quality product – success in 2023 is almost easy!
It’s more about coming up with a quality marketing message than anything else.
Not just another ad that seems to be selling something.
When I started writing ads the newspaper agencies were popular…-
And the price of ads was based on size and the number of words.
So, I quickly learned to explain the benefits of a product in as few words as possible.
I also learned how to frame messages persuasively.
With lots of practice, over the years I learned how to Present Products in the Most Powerful, Positive, Present, and Personal way Possible to get truly industry-leading results.
We didn’t write long sob stories filled with pain points like 99% of copywriters do today –
And we didn’t make big, unfounded claims…
While hyped-up stories are still popular with audiences in the health niche – this style of writing won’t be around much longer.
I predict a return to more old-school marketing…
To more benefits and results-based messaging…
The kind of marketing Dan Kennedy taught…
The kind of marketing I’ve always done.
Because I modeled and learned from the greats.
I began saving ads that stood out to me as a boy.
Ads that tell a fascinating story.
And now more than ever audiences appreciate this short clear style.
And with this change in messaging, I also predict…
A Return To Print Advertising
Print Ads Add a Personal Touch to Keep Your Clients Coming Back for MORE!
As the internet becomes more saturated, getting in front of your audience online has become more expensive…
And more businesses are returning to print – to be seen.[iii]
They are moving to print because you can actually get open rates of 90 to 99% with some mailers![iv]
Plus sending a letter is a great way to build more of a relationship with your audience…
And with the growing censorship, and the FTC cracking down, the best thing you can do is build your relationship with your audience…
Because there are only 3 ways to make more money:
- Chase down customers
- Raise your prices
- Make your customers so happy they want to buy MORE
This year, I recommend #3 – getting your happy customers to refer you (and keep buying from you).[v]
Because those who buy from you once, are more likely to buy from you again.
And we are 4x more likely to buy – when a friend refers us to your business.[vi]
Conclusion: In 2023, you’ll be far ahead of your competition –
If your messaging reflects the quality of your offer, and you present it in a clear and powerful way.
And as more people compete for attention online, there are 3 overlooked marketing strategies designed to get you out of the rat race entirely…
- Add print advertising to your budget
- Create a process to upsell products to your current list
- Give your clients a reason to talk to their friends and family about you
If you aren’t yet doing these three things –
Now is a great time to start.
If you’d like my team of experienced professionals to take a look at your project with you – send me a message.