Thanks to our friends at NBN Co
“What’s COVID going to mean in the long term?”
“What’s going to change forever?”
“What are the silver linings?”
They’re the questions Amanda Stevens faces from her clients every day. The consumer futurist and marketing consultant was (like all of us) knocked for six when COVID entered our lives earlier this year, but is focusing on the silver linings, and the opportunities we have to deliver epic online experiences. In a recent masterclass thanks to our friends at NBN Co, Amanda uncovered the strategies of businesses winning ‘the new normal’, and shared practical tips that you can apply to your business today.
“There’s never been a better time for the pandemic to hit”
Prior to 2020, we wouldn’t have had access to the cutting edge technology we do today and we wouldn’t have had access to the NBN, which has lifted the digital capabilities for people across the country. In a few short months we’ve seen a rapid acceleration of a trend we were already seeing – we’re spending more time online, and more time on our handsets than ever before. Gone are the days when customers needed to view and trial a product in real life; customers are making big-ticket investments from their mobile phone. Amanda shared the business story of Springfree Trampolines. Despite being the most expensive in market (you’re looking at $2-$3k per trampoline), customers are being sold via videos, photos and clear written content on their website.
The takeaway: Amanda sees this as an exciting development for the future of shopping, customers are willing to spend on big-ticket items.
There is no ‘going back to normal’
The people willing to embrace the change and look for the silver linings will come out on top. Business owners willing to embrace virtual platforms can find new opportunities. Seven months ago, you had to sight a physical ID in order to submit a mortgage application on behalf of a client. The rules have since been relaxed, so you can sight ID over a virtual platform, removing geographic barriers for mortgage brokers across the country.
The takeaway: How can you use virtual platforms to reach to open your business open to new audiences?
Remove the micro decision and win
There are three trends driving consumer motivation that present incredible opportunities for those willing to understand and deliver on them.
In 2020 we don’t want to spend time making micro decisions, so we’re connecting with brands that deliver a complete kit solution. Think of success stories like Hello Fresh; the category didn’t even exist years ago. Hello Fresh take the two most time-consuming parts of the process out of the equation – deciding what to cook and doing the groceries. They delivered their first box in Australia in 2011 and last year turned over $300 million dollars (a mean feat without considering their 20-25% increase during COVID!)
Takeaway: Are you providing complete solutions? Are you bundling your products and services in a way that presents a solution?
What real business are you in?
Success will come to those who understand the real business they are in. Take Birdsnest, a regional online store with a head office based in Cooma, NSW. They were smart enough to realise that they are not in the business of selling garments, rather the business of making women feel good. This dictates their entire online experience, and they are now the biggest employer in their local area.
Takeaway: What’s the real business that you’re in? You’re not a real estate agent, you’re making dreams come true.
Build a steady revenue stream
The subscription economy is thriving. It’s how we consume our technology and entertainment and is permeating all other sectors. Glamcorner have applied the subscription model to fashion and offer designer clothes for one-off rent, as well as monthly clothing subscriptions to great success.
The average Australian consumer has 27 subscriptions. They aren’t for everyone, but they are most certainly an emerging opportunity to drive a predictable revenue stream.
Takeaway: Read The Forever Transaction by Robbie Kellman Baxter. It’ll leave you with the big question relevant to all businesses; what’s your forever promise to your client?
The one thing you can do today to improve your online experience is create video content.
The average user spends 88% more time on a website with video. If that stat doesn’t convince you, we’ll let Amanda try, “if you’re not using video right now, you’re climbing a mountain far steeper than it needs to be.”
Amanda outlined the six videos you need in your business.
- Positioner: your bold video positioning your area of expertise;
- Personal: your ‘behind the scenes’ video that explains your ‘why’ and tells your unique story;
- Perspective: your expert commentary or take on a particular event, news item or current trend;
- Point of view: a video that focuses on one key aspect of your thought leadership or expertise;
- Proof: your testimonial style video that showcases feedback or customer case studies;
- Promotion: a direct call to action piece to promote an upcoming event or time sensitive offer.
Takeaway: You’ve got to start somewhere. Consider filming your top 30 frequently asked questions. It’s a great to build a bank of content and drive SEO.
All of these impressive case studies come back to three key areas of focus that take customer experience to an epic level. These are the questions to ask yourself at every touchpoint with your audience.
- Connection: How are you providing amazing connection? Are you putting your customers at the heart of everything you do?
- Customer: Invite your customers to tell you about your customer experience and journey. Consider setting up a customer advisory board and you’ll find them become advocates.
- Community: Your aim should be to build a sense of community and collaboration, not just customers (and here at Business Chicks, we couldn’t agree with this one more).
For more than a decade NBN Co have been helping Australia transition to a digital future by building and operating this new high-speed, wholesale local access broadband network.
Their purpose is to lift the digital capability of Australia, allowing Australians to have access to fast and reliable broadband. Thanks to NBN Co business productivity and global markets have been unlocked, and our way of working, learning new skills and connecting with others has been totally transformed.
To find out how the nbn network is changing the way Australians live, work, and connect, you can: