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Suzanne Banta

#009: 2019 Recap – How Client Work is Changing
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I’m calling it! 2019 is almost done. Wow. Have there been some changes? We’re going to share exactly how client work has changed in 2019 and peek ahead at what’s gonna happen next year. Stay tuned.

Welcome to the Client Whisperer Show. I’m your host Tony Banta and I am the Client Whisperer. I’ve spent over a decade running multiple six and seven figure client businesses and I’ve learned that the secret to success in a client business comes down to one thing, leadership. Bad client behavior is the enemy. And with the right curriculum, infrastructure and mindset, you can lead your clients to great success and scale your business the easy way.

Okay, so 2019, it’s close to wrapping in what a year it has been. Well we are here with a short episode this week to distract you from any potential family drama that you might have around the holidays. Cause today is Christmas Eve. As this episode is dropping, we are uh, just on a normal schedule. We’re not going to be in the office this week. These are all recorded ahead of time. But, uh, we are dropping a What To Say Wednesday tomorrow and that should be fun.

You’ll have to, you’ll have to tune in to see what the topic is going to be, but I promise it’ll be a fun one. So you don’t want to miss that. And, uh, on our regular schedule new episode on Friday where we’re going to be coming to talking about gratitudes 2019 the year in gratitude. So, uh, it’s one where I’m going to get a little bit personal and share a little bit of what my journey this year has been like and a topping the list of course is I’m grateful for every one of you, listeners, followers, clients. I’m so appreciative that we get to go on this crazy journey together. But today, today we are talking about climate work in 2019 and what has changed?

Well, a good amount has changed. Uh, in some ways it, it is, um, it exemplifies that, that saying that the more that things change, the more they stay the same. For starters, you know, connection trumps all else. And so as we look at marketing and what’s changed in marketing relationships matter just as much as they always have and more and more we’re seeing technology that’s able to accelerate relationships and connections even more than it’s been able to in the past. So that that tops our list of 2019 conclusions is that that what hasn’t changed is relationships matter. What has changed? Is there a new tools in ways that allow to do that? But you know what, on the marketing front, email from every marketer, I’m not the marketer, this is not the marketing show. We have some great marketing interviews planned over, uh, over the first quarter of next year to bring in some amazing experts who can talk about that.

But, but email is still King. Your email list still matters. You can use other interruption marketing like on Facebook and Instagram and YouTube and et cetera to get some attention or to accelerate that, get some more impressions. But the email list is where it’s at. We, we just, I tried to call earlier today with, with our new agency that we’re working with and uh, some, a great team, powerful team, can’t wait to bring them on to share some things we’re going to wait for the first big win that we get to celebrate and then we’re going to bring them on to celebrate that win with all of you, our listeners. But we, we are, uh, the first question is how big is the email list? Where’s the email list? How do we know which people are highly engaged matters more than anything else does right now because those are the people in your circle.

Clients, I would say probably matters more clients and client successes because maximizing a client revenue, maximizing client wins lifetime client value and the value that you’re providing to clients is still going to be your most impactful way to, to grow. But second to that email still where it’s at, shockingly, that one of the other biggest shifts that we’re seeing is more and more clients just aren’t buying the internet markety marketing BS. They just aren’t, they want real. They want to know that there are seasoned professionals that are helping them because thanks to all of the great tools that are out there, click funnels, Kajabi, Thinkific, thanks to all of these great tools Kartra it’s super easy to hang a shingle and say that you’re an expert. But being an expert in getting client results is another story. And so clients are looking for those kinds of indicators, those kinds of lead indicators that would show that would say that something’s working, that that someone is the right vendor, the right provider for them.

And image matters, brand matters. Having those things be polished matters. What matters even more though is social proof. Some friends of mine are going to be coming on in January, Justin and Michelle, uh, at least some combination of the two of them. Uh, they run a program called social proof club and social proof and client success go hand in hand. If you’re leading your clients, then you’re able to talk about those great client wins, those client successes. And being able to show that social proof more than anything else, wins, shows, clients the journey that, that you get to take them on. And of course when you talk about social proof, that exposes a really big question. What percentage of your clients really do get those results? 2019 saw some big lawsuits both from the FCC and some private lawsuits, uh, against people in our space, coaches, consultants, Gary V was hit.

Uh, there were a few other big names that that got hit and why? Because they play fast and loose with some of their marketing, with some of their claims, with some of what they wanted to talk about. They trumped some of those up and didn’t necessarily have the goods to back that up. And here’s why that’s important. I can’t speak to some of the lawsuits that are out there. Some of the people who either the government or which, which I generally dislike to see the government do or private, you know, private people, clients, class action suits, things like this that you know, the best way to avoid a lawsuit or a class action suit. If you’re a client business, serve your clients really well. The best way. Do what you say you’re going to do. You know, say what you’re going to do. Do what you’re going to say and and do it well.

Surprise and delight over deliver above what you say you’re going to do. But even above those, what makes a huge differences? Being willing to have a tough conversation with your client. Being willing to have the tough conversation where you tell them what they need to do for their success and allow them to opt out. Don’t mind if they opt out because they decide that the work that you tell them they need to do isn’t for them because ultimately it’s up to them. Ultimately, it might not be for them. It might, they might need some space, they might need some room. It just might not be what they need.

So that is one of the biggest shifts are in client success that we’re seeing both, both the government and clients are just getting wise to the all marketing, all sales, no fulfillment trend that that too many people have, and I would widen that to say even some of you listening, half fulfillment, it’s not like you, you, you steal from your clients, but that doesn’t mean that you’re fulfilling is dialed in and besides exposing you to all of those negative things to bad press or to legal action.

The other thing that that does is that that brings the ceiling down for how much you can get in terms of lifetime client revenue and there’s a direct correlation between lifetime client revenue, client value, and how healthy your business is. The more that you have clients who stay, the percentage of your total revenue, that new client acquisition costs are, the lower that percentage, the more insulated you are. And that was the other. That’s the, the next trend on our list that we saw in 2019 was ads went up.

There’s a little bit of a Facebook ad apocalypse towards the end of 2018 uh, that, that drifted into 2019 we had some, some clients who were, were really hit by that. And then we had some friends in the industry that went out of business that just, that just threw in the towel. Why? Because they were solely dependent on cold traffic, on new clients from cold traffic.

We have never, we tied a new adage and say, I mentioned, but up until now we’ve never relied on cold traffic, multiple six figures. And I’ve had seven figure businesses before that have been in the same boat of never relying on cold traffic, solely relying on incredibly deep client relationships where we provide a ton of value to them and we have high lifetime client values. That doesn’t mean that, that, that we didn’t help or we don’t help. Now we help clients for a couple grand to, you know, start out in some cases, give them what they need, help them get to that next level, offer them more, help them to the next level, offer them more. And the only reason why they keep buying is because they keep winning is because they’re getting what we promise. And that there is a ton of power in that when you are able to use your client journey as your sales funnel for more work, incredibly powerful.

The next trend that we see on our list is economics. The economy has been really good this year and certainly that won’t always be true. We’re definitely due for another recession, but as the economy has been doing so well, the, we have, uh, seen the, the in the total of the information economy, coaches, consultants, service providers, experts, course creators. The list goes on and on, uh, has now grown to by our best estimates, um, using a source that will link in the show notes to a IBISWorld, uh, which is one of the largest, uh, economic statistic repositories that there is. They, do research into the global economies of all kinds of different sectors and then they, they get super specific down from there cause there’s no one sector for client work. So for us to gather some of that data, we had to look at at the cross section of a whole bunch of different consulting and coaching industries.

And we’re looking at a total of 1 trillion, just shy of $1 trillion, in annual business to information to the information economy, the expert economy. Well that is radical in its size. That is crazy in terms of how much money that there is. And so if you are in that space, there is a lot of money flowing around for coaches and consultants. There’s a lot of money in our global economy directed towards people who can help other people make sense of what the heck is going on. And there are lots of very tangible ways that people need help. In America, we have, uh, opioid crisis. We have a crisis of meaning. We have people who are for the second or third year in a row, the uh, the average life expectancy in the United States is actually gone down, which is shocking considering that healthcare and medicine tools that we have to keep us alive are so much better than they used to be.

In the past. Why is that going down? Because suicide rates and and uh, and drug related deaths, overdoses, things like that, accidents are up dramatically. And that’s actually, it’s up so much that it’s actually reducing the overall life expectancy rate for the population, which is crazy when we think about that. Why is a crisis of meaning? People don’t know how to make sense of the world around them. They don’t know what to do when things aren’t working. They don’t know where to go. So if you’re a coach around spirituality, if you’re a life coach, it’s a huge opportunity for you to fill that gap. With the online marketing world changing so frequently, there’s of course a huge market for people who are going to help help clients get more clients or more customers or more feet through the door. So of course that’s ramping up dramatically and as the economy has been doing so well, the market for that is, has even expanded.

There are a bunch of brick and mortar companies that are looking to expand. I hear about new new business acquisitions and things like that from, from my local, uh, here in Pennsylvania for my local network of, of business and professional friends. They’re acquisitions, new growth, new locations opening up. And so if you are in the business of marketing and sales and or for that matter construction also on the rise, huge opportunity there for you. And uh, lastly, if you serve this market of the information economy, there are just so many changes happening so frequently. We’re going to talk about that in just a second, about what some of those, what some of our expectations are. And we’re going to do an episode on that in a couple of weeks. But there is so much happening that it requires experts to help clients make sense of that and figure out their place in that and figure out what they want to do and where do they want to go.

It’s critically important. So what is next? What’s coming next? Well, the next decade as we’re, we’re reaching the end of, of the, the 2010s, the next decade is going to see some incredible things. We’re almost certainly gonna see space travel for the middle-class. I was watching a fascinating science documentary on, on, on YouTube that, that one of, uh, space X’s hidden plans, maybe they’ve talked about this, is the idea of actual rapid flight from one continent to another by going up into space. And by going up into space, they can actually go much quicker where they can actually, um, so you could fly from, from New York to Shanghai in an hour. Uh, whereas if you fly that, that route, uh, via commercial plane via, uh, uh, Boeing or an Airbus, you know, one of those, those big double Decker planes you’re looking at at what an 18 hour or something like that flight.

So the ability to rapidly hop around the globe will start to be available for the middle class. Maybe even being able to go to other planets like Elon Musk’s vision of being a, a multi, uh, a multiplanet species where we can actually colonize other, uh, other planets in our solar system. That’s a good possibility. This last decade saw flight for the wealthy talking hundreds of thousands of dollars, but the ability to actually fly up into the, the, the outer layers of the atmosphere. So not quite space travel, but certainly not in our local atmosphere, which is very cool, uh, that you get some of those waitlists things happening. Uh, so some of the videos that we’ve, we’ve seen of that which is, which is really interesting and that is absolutely the technology for that is absolutely going to be democratized. We’ve seen that in the last decade.

We’re also certainly going to get driverless cars. My Tesla right now can drive around the parking lot on its own. So we’re almost certainly going to be able to see driverless cars and, and see that opening up. Uh, and there are almost certainly going to see major shifts in our economy, um, as different entire sectors like around fossil fuels shift around as that just becomes less and less economically necessary. Uh, as other alternative fuels ramp up. Uh, and of course we’ll continue to see, um, huge deficits in the number of computer programmers, software developers that are, uh, the, the, the market for those. It’s really hard to find somebody with expertise in that space because to being gobbled up by all of the big software companies that, that can’t seem to get enough of them. And if you’ve updated your phone or your Mac this fall when the new, uh, if, if you updated it close to when the new operating systems came out, one of the best technology companies, um, Apple regardless of, you know, it’s a polarizing, it would almost be be better to talk about Trump, but, but, um, um, Apple certainly has, has had the reputation of having a good, uh, track record, a good, uh, client experience.

And they had some major problems because they don’t have enough software developers. They don’t have enough engineers to actually do everything that they need to do and stay on the same release cycle. So there were quite a few bugs in our phones and our macs this last year. And of course, uh, Google with, with Android doesn’t have enough developers to even allow the, the, uh, their operating system to be released on all of the phones that are out there that run their software. A little swipe that I had to take, I’m sorry, sorry to get political in the, uh, in the, the smart phone, the great smartphone debates.

The next shift that we’re going to see and we already see some of this popping up. Uh, 2020 presidential candidate, Andrew Yang, uh, as well as Republican pundit, um, Tucker Carlson, they both talk a lot about how as the manufacturing sector is, it becomes fully automated there are going to be jobs that, uh, humans just don’t need to do anymore. And there’s going to be huge, uh, pools of laborers who no longer have jobs. Now I’m, I’m a little bit, um, I don’t quite buy into that as a reality that’s going to happen every major shift that we’ve seen up until now. Uh, every shift in technology, um, from the industrial revolution, you know, and so on and so on. Only just creates new consumers. It just creates new opportunity, new consumption patterns and thereby, it creates new jobs. Just look at the fact that we cannot, that our schools cannot train software developers quickly enough, uh, to be able to serve some of these companies. Um, so undoubtedly there’ll be lots of new opportunities, but if that is true and if some of the governmental solutions like universal basic income actually come into play, you’re going to look at huge amounts of income that can be devoted to people who need experts.

We need experts to retrain them. We need experts to help them figure out what to do with their life now that they’ve been displaced and they’re going to have money coming into their bank accounts to do that. So huge opportunities there. All said, if you’re a coach, consultant, or expert, uh, and you know how to get client results And that’s the powerful and. Then you’re set up for a great 2020, and we’re going to certainly talk about some of those predictions in, uh, our next, in next week’s episode, we’re going to talk about some, some hard, some, some hardcore 2020 predictions that I have. And, uh, at the end of 2020, we’ll, we’ll do another recap episode like this and we’ll see how just how accurate I was. But, uh, this week we, you know, I still want to dissect some of the specific changes that we’ve seen over the year.

The biggest gap, the biggest opportunity that we’ve seen. And we’ve now had the chance to look inside over a hundred client businesses. And even more if we, uh, if we include clients that we’ve, we’ve coached clients of our clients who we’ve, you know, coached and we’ve been able to see some of the data flow through from them. And there is a leadership gap. There’s no two ways about it. There aren’t enough leaders, true leaders who are willing to get their hands dirty into the reality that people are struggling with in many cases. So if you’re an expert, if you’re a coach or consultant and you’re willing to be a leader, there is amazing opportunity for you. If you’re an agency owner and you’re willing to go further beyond just running client ads or doing client graphic design, you’re actually willing to lead them to client success and help them over their own hurdles, internal or external, preventing their success, by the way, they’ll pay you more for that if you’re willing to do that, you will be rewarded with legendary client retention and client value, lifetime client value. So there is this huge opportunity there.

We see it in our politics too. I’m not going to get political or take any sides because this just isn’t the forum for that, but we see it with politics that we see a lot of people who are more than willing to point the finger and not a lot of people who are willing to lead the way out of the spot that we’re in. That’s where all the opportunity is. You focus on that. If you’re willing to go deep on that, if you’re willing to take the arrows. If you’re willing to, to to put the Bulletproof vest on your back and march ahead, you will have raving fans who are willing to follow you and are willing to stick up for you, and you will very quickly find your tribe of incredibly loyal, rabidly loyal clients who are going to help you do amazing things. That has been our 2019 recap. Thanks so much for tuning in. Like I said, tune in Wednesday and Friday and we’ll see you soon.

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