Jeanette is the CEO of Leadpages, a no-code website & landing page builder that helps entrepreneurs start and grow their business online.
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While demand for online learning has steadily increased over the past 10 years, the recent pandemic has accelerated its growth even further. In fact, according to recent data, the knowledge-commerce industry is expected to reach approximately $331 billion by 2025. So, it’s safe to say that the industry has yet to peak.
Knowledge commerce, also commonly referred to as online learning or e-learning, is the exchange of knowledge for money. Not to be confused with information, which is generally free and easily accessible, knowledge is the understanding of a particular subject acquired by experience or education.
Whether you’re looking to launch a new knowledge-commerce business, or you’re already operating in the industry, growing your customer base is key. To do this successfully, you need to tailor your positioning, brand and communications to your ideal audience.
Get granular with your targeting.
Creating effective digital advertising starts with choosing the right audience. This is done with granular targeting, which involves doing a deep dive into your customer base to determine who they really are and what problems they need solved.
Ask yourself the following questions:
• How old are they?
• Where do they live?
• What is their education level?
• What is their income?
• What are their interests?
• Why would they be interested in purchasing my knowledge?
Next, consider where the opportunities are in the market. Are there specific needs that your competitors are not meeting that you can fill? Are there educational gaps that other businesses have not yet touched on?
Granular targeting is an effective advertising strategy that helps your knowledge-commerce business focus on the exact audience it wants to serve. Not only will you gain a better understanding of who your ideal customers are, but you’ll also learn more about your competition.
Personalize your marketing.
Once you’ve narrowed in on your ideal customer, it’s time to tailor your marketing to your audience’s specific needs and desires.
Begin by designing your brand messaging around the audience you’re targeting. What do you know about your existing buyers and their personal purchasing habits? In what ways do members of your target audience prefer to communicate? What social media platforms are they most active on? The more you know about your target audience, the better you can target your messaging.
Your visual branding will also play a role in helping you connect with your customers. Elements like colors and fonts go a long way toward expressing who you are, so make sure the image you portray aligns with your audience’s values.
Another approach is to position yourself or your business as an expert in the industry. To boost your overall credibility, consider speaking at in-person or virtual events, developing podcasts and building brand partnerships with other companies your audience follows. Partnering with reputable companies for social media giveaways is an excellent way to leverage your credibility in the knowledge-commerce industry.
Fine-tune your marketing funnel.
If you want to grow your knowledge-commerce business, you’ll need a targeted marketing funnel that takes customers on the journey from prospect to customer.
Start by creating a lead magnet to encourage people to sign up with your brand. This is a free item offered to prospective customers in exchange for their email addresses. Typically, lead magnets are downloadable products, such as e-books or training courses, but they can also be opt-in offers, such as coupons or discounts. Use the information you’ve gathered in the previous two steps to come up with a lead magnet that appeals to your audience.
Once you have your lead magnet, promote it with a landing page. This is a single web page with one specific purpose: to convert visitors into leads or sales. Clean and simple, with a single call to action, landing pages help your business reach its conversion goals and persuade targeted audience members to enter your funnel.
Finally, use email automation to nurture your leads once you have their email addresses. Target customers based on their sales history, preferences, behaviors and more to craft personalized messages that catch their attention. A good automated email strategy not only saves time and energy but also increases brand awareness.
Encourage referrals.
Our world is more connected than ever before, making it easier to share products and content with others. Use this to your advantage.
Create a referral engine that makes recommending your business easy and beneficial. Start by simply asking for a referral and providing links and social share buttons to limit the steps they have to take. You can also offer rewards, such as coupons, gift cards, free gifts and other items you know your audience is interested in, to anyone who shares your content with others.
This is where creating more targeted marketing really pays off. By building a brand your audience loves, you’ll be much more likely to get recommended to other potential customers.
Referral engines like this are one of the best ways to find new qualified leads. And when done right, they help you build better relationships with your customers.
Take action to accelerate your business growth.
Building a successful knowledge-commerce business doesn’t have to be difficult. It all starts with focusing on the right audience. Once you know whom you’re targeting, your brand, advertising, messaging and referrals will fall into place, which will drive customer growth.
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