There are a number of trend-based marketing opportunities you can leverage to achieve profit breakthroughs in 2022.
In today’s episode, host Roland Frasier shares 5 more business trends you’ll want to know about, and stay on top of, in the coming year. In Part 1, he talked about:
- The Great Resignation
- Supply reallocation
Listen in for trends #6 through #10 as well as practical, actionable steps to help you take advantage of them starting today.
Trend #6: Web 3.0
This one is huge. Roland believes it’s the most important, most long-lasting, and will have the biggest impact because it will replace a lot of giant incumbent tech companies. You need to have an awareness of Web 3.0, what it is, how you’ll be affected by it, and how to take advantage of it. In simplest terms, Web 3.0 is basically block chain technology.
Here’s the cool thing. What it really is going to do (and is doing) is democratize the ability of any creator to own their audience. The challenge in the past has been that, if you’re on Facebook and create a giant group, and Facebook decides they don’t like you, you lose it all. There’s no due process. It’s not fair.
Imagine instead that all of your audiences are completely portable. You aren’t relying on a social media platform. You get exposed to an audience on a platform, get booted, and get to bring your audience with you. Web 3.0 says, that when you work hard to build an audience, you get to keep the loyalty of that audience and take it wherever you want.
This will be game-changing. Opportunities will pop up that will become alternatives to social media platforms. Hopefully it will force incumbents to be better. Take any chance you get to participate and invest in Web 3.0 companies. Get your content out there in some of these places too. Help other people understand NFTs and Web 3.0.
Also, just generally across the block chain, look for opportunities to get involved with businesses and products coming out of it.
Trend #7: Authenticity
This is an opportunity to help companies understand that their audiences want to know the truth. They don’t want fake photoshopped things. They want real people telling them how things really are. The heavy-produced photo shoots don’t convert as well as simple iPhone videos. People are looking for ways to recapture “real.”
What are the opportunities there? First, become someone who’s authentic and real. Test authenticity against whatever you had out there before. How can we be more real, more connected and communicative with our audience? How can you help other companies do that? How can you facilitate migration to authenticity? How can you coach those companies and create services and opportunities?
Social purpose goes hand in hand with this. Be authentic in supporting some social good out in the world.
Trend #8: Coopetition, Integration, and Strategic Partnerships
This is where companies are competing with each other and also cooperating in their competition. Coopetition is a big buzzword right now, but it’s hard for direct competitors to cooperate with each other, so Roland isn’t sure how successful it’s going to be. Facilitating coopetition could be an opportunity for you, a way to make a name for yourself in a blue ocean field.
We’ll definitely see more integrations, brands partnering with each other to release new products. Brands are able to create brand awareness with other brands’ audiences, helping their audience connect with a whole new brand with your endorsement.
Ask: Who are the brands I would like to have access to the audience of, and how can I approach them? This will reduce your customer acquisition costs if we’re sharing in this way. Strategic partnerships are similar to a product integration, just less thorough, but with a lot of opportunities as well.
Trend #9: The Democratization of Funding
We’re seeing a lot of this right now. Funding from all kinds of sources. Companies like Robin Hood and SPACs (special purpose acquisition companies), even private equity funds which allow small investors who would normally be cut out of access to big deals to participate in finance activities. You might want to consider investing in some of these, but remember that they’re risky.
Trend #10: First Party Data
We need new ways for marketers to find people. We used to be able to target people very specifically, but through privacy laws, iOS 14 updates, and a whole bunch of other initiatives, that’s a thing of the past. Businesses that were very narrowly targeting people are having trouble making money. Their customer acquisition costs have gone up so much. Your ability to go out to a platform and harvest an audience is decreasing.
Do we go back to TV? No. But it’s going to be more and more important to create our own media and own our own media. You need to have first party data, a list. You don’t want to have to rely on third party cookies. You don’t want to be dependent on these platforms.
How do you make money off this trend? Help companies who used to spend millions of dollars on targeted advertising put that money somewhere else and build an audience. Can you acquire companies that already have first party audiences? There are a lot of opportunities here.
No matter where you are, who you are, how much experience you have, how much money you have, you can turn these trends into monetizable opportunities for yourself. If you’re not taking advantage of them in 2022, you definitely risk getting left behind.