Five marketing predictions for this year 2020. Peng Joon predicted this is the future of marketing and why it will make all the difference for you. And if you don’t, you’re going to be in a lot of trouble just like how a lot of people are going to be in a lot of trouble.
Now what are these five things that Peng Joon predicts that he will be shifting towards and why you need to do that as well.
Well, here are the 5 key points mentioned by Peng Joon. Transcript from his YouTube video:
1. Funnel is Not Enough
The first big change that I am seeing is, funnels are not enough. Now, what does this mean? It means that, if you are currently selling through sales processes, through Shopify, through click funnels, through software that talks about how you need to have some sort of sales process in place. Today, that is the bare minimum and that is the requirement and that’s the entry-level if you want to survive. Not thrive, it is what gets you into the party, okay? But what happens after that is going to be questionable. And the reason why funnels are not enough.
Image Source: https://www.singlegrain.com/blog-posts/content-marketing/how-to-create-marketing-funnel/
If you think about the evolution of how internet marketing was, you’ll realize that if you were to look at the landscape 15 years ago, in order to be successful 15 years ago, you literally just needed to know the super basic stuff like Google AdWords.If you know Google AdWords 15 years ago, you’ll be able to get bids and clicks on highly competitive terms for whatever product, super cheap, just like how I knew that when I first started out 13 years ago. Back then when I was getting clicks on Google AdWords, it would cost me less than 10 cents per click. But 15 years ago if you did that, in fact, there was this method back then when I was just about starting out, called the Google cash method, where all you needed to do then was go to Google AdWords, bid on some sort of term, and send people to an affiliate link, and this could be like a product that’s sold on eBay when they had the affiliate program, this could be sending people off to some sort of product that had some sort of affiliate program, so buy traffic of Google AdWords, make money off the difference when you promote that product. And that alone, if somebody knew how to do that 15 years ago, you will be successful doing that.
What happened then was marketers will spoil everything,eBay had a ban-hammer coming down saying,”This kind of practice is no longer allowed”.Google AdWords changed it so that you can’t bid on trademark terms, you can’t have like more than one result, ’cause after that, there would be like a ton of reviews for all these different products and on the Google search results, we’ll be spammed with all these different results for this affiliate link. So 10 years ago after that, what changed was if you had a website promoting some sort of product and if you knew how to drive traffic, if you knew how to slap on a sales page and had a basic level of how to drive traffic, you would make money. If you had an upsell associated with your sales process, you’d be considered really good.
I remember when I was getting some traction, there was a marketer who launched a product and the product was like on how to have upsold in your sales process. And that was like a big thing in the marketing community. It was called OTO Secrets or something like that, right? So back then if you had a beautiful website design, with some sort of upselling in place and if you knew how to drive traffic, you’ll make a killing. It didn’t take much. Back then in my gaming days, this is about 10 to 12 years ago. You could literally take your product, list it on ClickBank, or some marketplace, and if you know how to ignite the fire, it would do very well. Now over time, if you take a look at what’s happening, is that five years ago, if you built funnels like a free plus shipping product five years ago, man, free plus shipping was like the new opportunity and as always, marketers will spoil everything. Now, if you see a free plus shipping ad, for most people, they’ll be thinking, not another free plus shipping ad, right? Five years ago, if you run a webinar funnel, where all you said was, “Hey, this is Peng Joon here and I’m gonna be doing this webinar, where you’re gonna learn these three secrets.
2. Traffic Advantage When Organics Are Declining
Here’s secret number one, two, three. Click the link below. Join me on this webinar”.Five years ago, if you did that, you would make a killing. Notice, what I’m trying to show you here. Is that there’s always evolution and you need to evolve. Five years ago, if you knew how to run Facebook ads, you don’t even need to be good, you just need to be decent. And you knew how to have some sort of pixel tracking with an ad and you send it to some sort of sales process, it would be profitable. However, okay, the biggest change, if you want to evolve, my prediction is that funnels are not enough. Funnels are what get you to the door. So if it’s not enough, then what’s the solution? Funnels are really the bare minimum requirement. So think of it this way, if you are an early adopter, if you just knew this back then, which is you know, having a simple sales process, you would thrive. However, today, if you want to evolve, understand that right now this is you over here saying, I wanna sell this physical-digital product and right now there are all these other clones. The sales process is the bare minimum.
Once we understand that funnels are the requirement, then number two is to understand how can you get a traffic advantage when organic is gonna continue declining. And the reason for that is, again, because if you look at the evolution of all platforms, social media, what happens, marketers spoil everything. Facebook when it came around, started off organic, It was amazing. I remember my Facebook page, I could make like a simple post and I can get like 5,000 likes, right? Today, crickets, nothing really changed, organic’s on a decline. And the reason why organic will always be on a decline just because that’s how platforms work. First of all, because they need to get more users and as more users enter that platform, it’s all supply and demand. Facebook has a limited amount of space to show and cram in front of an audience. So when more users come in, space is still the same. So they can only show that much information to their user.
So as more users come in, organic will always fall. And that is why Instagram is on a decline right now. And if you’re posting stuff on Instagram, you’ll know that organic is gonna fall. And it is falling right now because marketers will always come in and that’s why now TikTok is supposedly the big thing. But to me, that’s not where my ideal audience is hanging out, so I’m not focused on TikTok.But you’re gonna think about, What are the other people in your marketplace? So these guys here. The people that are just doing the same thing you’re doing. How can you have a traffic advantage if everybody is on Facebook? Are your competitors doing YouTube videos? Are they taking the audio out of these YouTube videos? Could you do a podcast from it by taking the audio version of it? What is your traffic advantage? So my marketing prediction number two, is that organic is gonna continue falling, and the way to go about it, is to think about how can you have a traffic advantage.
3. Create Less Offers
That brings us to number three, create fewer offers. What? Create fewer offers? So I know there are many marketers out there where the mindset is, in order to make more money, it’s about creating more stuff. Now, if you take a look at theInternet marketing community, you’ll see that it’s very apparent, especially five years ago, including myself, by the way. I’m always thinking about how do I create more offers that I can make more money. Now, this is the wrong mindset. In fact, this was a mindset I had adopted for a really long time. Where my mindset was, to make $1 million a month, I needed to create 1000 websites that make $1,000 a month. That was my mindset, especially when I was first starting out. But the next chance and the next pivot is about creating fewer offers.
Image Source: https://optinmonster.com/how-digital-marketer-increased-conversions-7-using-urgency/
Now, why would you want to create fewer offers? Because when you have more offers, and if you were to think about the war between Apple and Blackberry and Sony Ericsson, what happened? Who came out to be the winner? The winner was this person here, right? What did Apple do to win the war against all these other brands? Well, if you take a look at all these other brands, what were they doing? They were creating new models, new offers, literally every other week, right? Think about the number of models Sony Ericsson and Blackberry and Nokia had. And a question I like you to ask yourself is, how many models can you think of? If you are a millennial, you might not even know of Nokia phones today. But when I was in high school, back in my day, well I feel old even saying that, back in my day, okay? If you had a Nokia in school or in high school, the model would be the Nokia 3210, that’s a model I can remember off the top of my head. You would be the cool kid in school back then if you had that phone. But Nokia had hundreds of models. Same thing with Sony Ericsson, same thing with Blackberry. What did Apple do? Apple created one great offer for their phone year pretty much. They created less offers compared to everybody else.
Now, if we can understand this, so it means that we want to create fewer offers, but in the marketing world, we want to bring people deeper into our sales process, right? So it’s not about having more offers. You take a look at what marketers would do, the ones that’s hardworking back then and they will create new offers all the time. But it’s not about creating more offers and going wider,it is about bringing your audiences deeper to your process. You could have one offer, but have variations of this offer, where maybe right at the top is low-ticket, cheap. Where it’s done it yourself. could be a book, 10 bucks. But for the people that are actually serious, create a different variation of this same offer, but maybe it’s done with you. This is where perhaps you could create an experience for them, where you hold them by the hand, show them step by step, move by move, on what it is that you wanna do. And it’s more towards a done with the kind of experience.
And then with the same type of offer, right? Same result, people who have the money appreciate time even more. So over here, this could be done for you. Where perhaps they hire you, your company, or your team or your time. Where they don’t have to lift a finger, you charge them a premium, and the work is all done for them. But number three, the third differentiator to thrive this year as well as this decade, is to think about how can you bring people deeper, not wider, okay? And that is the third thing that I predict when it comes to marketing,
4. Differentiate Yourself
which then brings us to number four, being different.Not necessarily better, different. In the space that we’re in today, whether you want to write a book, create YouTube videos, what are you gonna sell? Physical products, whatever it is you wanna do, chances are there’s somebody doing it better, giving more value, who can articulate it in a more charismatic way. There is somebody who’s willing to do it for cheaper. So the question is, how do you separate and differentiate yourself from all these other people that could be doing things better? How can you be different? Apple built their entire brand is different. In today’s world, being good is expected.
Image Source: https://www.feedough.com/product-differentiation-definition-types-importance-examples/
If you’re not good today because of social media, because of reviews, it will be only a matter of time before the negativity and their bad rep will put you out of business. So being good at what you do is a bare minimum requirement. So the next question is, how can your product, program, service, be different from everyone else? The way I’m always thinking about is, so for example, my videos, I’m thinking about how can I double down on my personality and be me? How can I tell my story that’s unique? Now, there are many different ways to differentiate and separate yourself. This could be telling your story. What if out of the 7 billion people here in this world, your story, whether it’s you, your business, your company, there’s no one else in the world that has your story, the challenges that you’ve gone through. And that’s what makes you unique.
Many times people say, well Peng Joon, I’m just a drop in the ocean, when in fact you could be the entire ocean in that one drop. How much does your audience know of your story and what if your story was one way to separate and differentiate you? Another one you could separate and differentiate yourself is through experiences. Today people wanna buy stuff, not just for the outcome or the value, but the experience that they get from buying your stuff. What kind of experience are they getting that’s going to be different from others? What about the business model? And this is from the Blue Ocean Strategy. How can you disrupt your marketplace by doing things completely differently? What if you were to utilize the Blue Ocean Strategy and list down all of the different things that your marketplace has? The typical features and ask yourself if this is what the features of a typical production my marketplace is, in terms of what they offer, their pricing. If I were to swap out and did everything completely different, what would be my business model? What would it look like? That’s pretty much what the book blue Ocean Strategy says, right? Disrupting a business by doing everything completely different.
5. The Rise of SEO
And finally, number five is the rise of SEO. Which is being discovered on the search engine. Search Engine Optimization. Now, SEO has two main types. Whenever you do a search on Google, there would be the traditional result, which is basically the search results on Google or this could be a video, a YouTube video that gets ranked on a search engine. Now, the reason why I say the rise of SEO is because 10 years plus ago when I first started out, marketers would rely heavily on SEO. Traffic through organic search engines and marketers would also be selling a ton of courses on SEO, which was a hot topic.
And then social media happened, and marketers dropped the ball on SEO and started going towards the quick fix, which is Facebook, which by the way is the right move. However, we gotta understand that if you think about this framework over here, for traffic, it did not change. Meaning, the demand for a specific keyword. There was a demand for a specific keyword. The demand would be the number of people going to Google and searching for a specific keyword.
Right now, 10 years ago versus today, do you think the demand has increased or decreased? I would say that based on the number of new people going online today, there are so many more people online today than it is 10 years ago. If anything at all, number one, the first piece, the demand, which is basically a number of people doing searches on the search engine, has increased. More people doing it. Now at the same time, what happens to supply? Supply, we just want the number of search results. The number of marketers that are focusing their time, energy, and attention on getting ranked on the search engine. Because most marketers now have diverged and shifted their attention to social media platforms.
Image Source: https://www.hostpapa.com/blog/marketing/seo-for-beginners/
And because now there are fewer marketers playing the game of SEO, supply has actually fallen. So if you take a look at any commodity, when demand increases and supply falls, what happens to the value of this commodity? Does it become more valuable or less valuable? It becomes more valuable. So if anything at all, it means that the winners would be the people that focus their time, money, and attention trying to rank on search engine and it makes even more sense to do so than ever. Now, this could be you doing tactical videos on YouTube, making it get ranked like what I’m doing right now. And if you want to take the additional step, turning this tactical YouTube video that you do into a transcription, and then taking the transcription and changing it into a real article with the screenshots and making it optimized so that you can submit it to a third party website that links back to your sales processes having it on your website or your blog.
Hey, let me know in the comments below what your biggest takeaway is and what you think about my marketing predictions. These are the things that I will be focusing on this year and I know that if you did it, it’s gonna give you a huge advantage as well. Make sure you like, comment below what your biggest takeaway and subscribe to this channel for future videos like this one. I’ll see you in the next video.
These are Future Marketing Trends predicted by Peng Joon.
