Online Business Predictions for 2023

Online Business Prediction #1 – A move away from social media

So last year I recorded a podcast episode titled “Is the Instagram Era over?” in response to the dumpster fire that was Instagram in the middle of 2022.

Because, for the first time since I’ve been in business, the negative sentiment about Instagram and social media outweighed the positive sentiment.

It definitely has a lot to do with how much time we spent online over the past 3 years and it wasn’t helped by Instagram’s shitty user experience.

Biz owners started to get disillusioned with the return on investment for the time spent on social media.

And I actually started to see a shift in how biz owners utilised Instagram – all I can say is “it’s about damn time”.

Because it would blow my mind how many business owners would hate on social media, yet spend 100% of their marketing time and effort on social media. 

But it reached that breaking point in mid-2022 when business owners started to look at other options and how they could diversify their marketing efforts.

And I predict in 2022 you’ll continue to see the move away from social media. It won’t be a mass exodus, but you will see the way businesses and consumers use social media continue to change. 

People want to spend less time on social media and businesses will look at other channels and ways to market and sell their offers.

My advice here:

• Focus on you starting or growing your email list. If you don’t have an email list in 2023 – what the fuck are you doing?! A big focus for me this year is growing my email list! 
• Know how to create content that you can repurpose across multiple channels. If you’re not repurposing your content – you’re doing it wrong. Enough of single-use content! Build a content creation machine that is fueled by repurposed content. 

Online Business Prediction #2 – Consumers will be more discerning with how they spend their money. 

There’s a lot of talk about a recession and people not spending money, and in 2023 I predict that consumers will be more discerning than ever with how they spend their money. 

This is not to say they won’t buy from you and you need to throw your business in the bin – but you do need to be aware of and understand consumer behaviour and how they make purchase decisions.

This also highlights why your messaging is so important here.

Because you need to know how to communicate the value of your offers to your ideal clients

Especially when the online space is noisier than ever. 

Consumers have more choice, and are more discerning → therefore you need messaging that cuts through the noise, speaks to the soul of your ideal client AND gets them to take action aka buy from you. No biggie right?!

The businesses that continue to make money in 2023 will be the ones that can clearly communicate why someone needs their offer in their life and why they should invest their time, money and energy in it. 

My advice here:

• Firstly, go back and listen to Episode 79: Your Offer Doesn’t Suck, Your Messaging Does. I share some tips on how you can improve your messaging.
• Check-in with your community and make it your priority (if it wasn’t already) to get to know and understand them better – if you want to sell your offers and actually make sales in 2023 – focus on them and nailing your messaging.

Online Business Prediction #3 – A focus on existing customer relationships 

With the rise of TikTok and Instagram Reels, it seems like every Harry, Ron & Hermione spend a lot of time trying to go viral or hit 100k followers with the hope that new clients and customers will follow as a result of this.

But as these platforms take up more of your time to learn and create content…

And the number of views, likes and followers slows down to a snail’s pace…

It becomes a conversation around: do you really need more followers (aka new leads), or do you need to nurture your current relationships (aka warm leads) instead? 

With people wanting to spend less time on social media, these vanity metrics are becoming less important and I predict you’ll see a greater focus on existing relationships.

Because it’s those who are already in your community – the ones you already have established a relationship with are actually much closer to buying from you than someone who followed you yesterday. 

Especially when you add into the mix people will be more discerning with how they spend their money this year. 

So if you spend your whole time trying to attract new leads and ignore the people who already know, like and trust you – you’ll find yourself going around in circles and not making any money.

Because it’s a fact that it costs more to continually attract new leads than it does to convert warm leads. 

My advice here:

• The moment someone follows you or subscribes to your email list is just the beginning. Think about how you will nurture that relationship from this point forward. You wouldn’t invite someone over to your house and ignore them, would you?! Step out of your client journey and think about the information they need to take them from a stranger on the internet to virtual BFFs, and ultimately a paying client. 
• Think about the lifetime value of one client→ how can your clients continue to work with you? They’ve already bought from you once – they are prime candidates to buy from you again. In my business – once someone signs up for one offer, they usually go on to sign up for other offers and experiences too. I pride myself on going deep with my clients and being a constant in their life and business. It’s the same way I am with my coach.  

Online Business Prediction #4 – Owning your magic will help you stand out online

As I mentioned earlier – the online space is noisier than ever before and this is not changing any time soon. 

So the dilemma is – how do you stand out online in an increasingly noisy online space?

The answer is – you own your unique blend of magic and you show up and share it in full colour.

The introduction of Reels stripped Instagram of originality and authenticity but with all the changes to Instagram and the increasingly negative sentiment around it – I predict you’ll see a swing back towards more original and authentic content. 

A lot of people felt like their unique blend of magic wasn’t fit for the online space and so they either transfigured themselves into a pointing and dancing business owner or they concealed themselves under an invisibility cloak.

But what the online space actually needs is more of YOU and your magic – and that’s what will help you magnetise your soulmate clients. 

My advice here:

• Stop trying to copy + paste someone else’s business strategy, content strategy, and launch strategy. The best type of business strategy is one that is 100% personalised to you. Of course, take inspiration, BUT DON’T COPY – put your own unique spin on what you’re creating.
• A big part of this piece is mindset. Because I can tell you that you need to embrace your unique blend of magic and show up and share it – but when old mate self-doubt, imposter syndrome and comparisonitis show up unannounced it starts to feel like a safer option to put that invisibility cloak back on right?! I get it! You need to slowly build confidence and self-belief in who you are and what you can do. And trust me this is an ongoing thing – even for me.

So there you have it: some of my online business predictions for 2023.

Please remember that A LOT can change in 12 months – and, spoiler alert, it doesn’t all happen in the first 2 weeks of January.

Don’t attempt to make ALL of the changes immediately.

Take your time – there’s no rush, and business isn’t a race.

2023 is going to be an amazing year. I can just feel it!

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