Existing Market:
1. Next for me would be to increase my involvement in businesses rather than campaigns or political organizations. Right now they are paying the bills, so I cannot abandon them and I would be stupid to do it, but I just do not want to get stuck in politics for the entire company.
2. All three of the customers who need their social media updated or built have now come back to me for website development. I have limited experience in this area, but they all trust me to do that, so I am going to expand my knowledge of that. I have Dreamweaver downloaded and have created simple webpages in the past, so this seems like a great next move. They have already guaranteed they will pay me for doing this for them. The way that I see it, you would be dumb not to learn a skill that people are willing to pay for you to learn.
3. When I started working with these customers I never expected that I would be developing websites for them. I figured that I would primarily manage their social media accounts and possibly create merchandise or setup a store for them. This was a big step because it is much less user-friendly than social media. Regardless, if I can do this, I create a full and more meaningful package for people that want my services. I would imagine that most customers who want a full social media suite also want a website. Because of this, I am basically throwing out a revenue driver by not being able to do it.
I was surprised, but now that I think about it more, it makes a lot of sense. I am thankful for my customers giving me the opportunity to learn this skill. Businesses are going to have an easier time getting their customers to a website where they can be more free with how the content is laid out. Keeping this in mind, I need to be able to be flexible enough to accommodate their needs.
New Market:
1. So for this because I am a B2B, let's go with the idea that was presented in the instructions. A B2C service. With this, keeping to what my company is about, I think that we could act as an "agent" if you will for people entering the entertainment industry. This may seem far-fetched but with influencers being on the rise. Knowing this, I could do the same branding, social media, and product development that I would do with a business. Essentially, most of these influencers go on to own companies, but in the meantime, I would be helping them sell their personalities/looks to an audience.
2. I could tie my connections with businesses to my contacts that want to become influencers. Both of them would kind of be partnering together. It is a total win-win for each. Brand ambassadors are on the rise because it is cheaper than placing products in stores or hiring professional salespeople. All you have to do with ambassadors or influencers is give them product and part of the revenue for what they sell. The influencer is getting free things, money, and clout, while the companies that I am working with get to keep developing their brand. If I am wrong, please correct me because I know almost nothing about this unique market.
3. I have seen ambassadors and influencers and used this as a basis. From speaking to them, this is a very popular course for people my age that want to do something they are passionate about. Considering that most of us are on social media for a majority of our lives, why wouldn't we want to make money from it. I personally do not have clout, but people that I have spoken to are developing it. I would imagine, that helping influencers gain clout and followers will be a new market for those that want to grow themselves in the market.
4. I am not very popular on youth social media platforms. I have almost 900 likes on my Facebook page, but that is in a very professional capacity. My Instagram only has about 400 likes, my Twitter less than that, and don't even ask about my TikTok which I should be famous on by now (Go follow me @trickie_nicky). For these reasons, I do not think that I am qualified to be in this market. I just really do not know how people just promote themselves without a product or service to show for it. I am probably missing out on a big opportunity, but as it stands today, I do not have the resources to properly take advantage of this market.
One of the people who I look up to in this field is Gary Vee. If you have TikTok, you may have seen him. I think that his media company is experimenting how they can monetize this by experimenting with his own brand. Now this is speculatory, but I would imagine that those thoughts are going through his head. He is all about the sale and personal entrepreneurship, so I could see him using methods like this to expand his brand and aid in the development of more influencers in the market. I think this would make a great discussion so please contribute.
Nick,
ReplyDeleteThe information in your existing market is great. Congratulations on your three repeat customers! That is impressive that they are confident enough in your skills toask you to develop a website for them and I would agree that that is a very logical next step for your firm. Your idea for a B2C version of your business is extremely interesting, especially when you tied your idea to the new influencer market.