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Today’s talking point:

What does the future of social media look like and how can you harness it in your business? I’ve put together four predictions based on what I’ve seen, read and heard. The power of social media is undeniable, so you don’t want to miss this one!

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Today we’re talking about all things social media and its forever-changing landscape.

Most of the newer millionaires and billionaires get their wealth from code or media. Since it’s easier than ever to leverage the media (all you need is a Wi-Fi connection!), the question becomes, how can you put yourself in a position to build wealth for yourself?

Whether you love social media or hate it, I’ve put together everything you need to know right now to harness the power of social media, as well as my predictions for the future of social.

You are going to love this one!

Prediction one- personal Brands

One of the biggest trends I’m seeing in the business world right now is that businesses are doubling down on their personal brand presence.

Why?

Because it is so much easier to sell when you have a strong personal brand and a large audience.

For example,

Alex Hormozi - Alex and his wife built up their $100 million businesses without showing their face online. They recently started creating content together because they could no longer deny the power of having a strong personal brand. Since doing so, their growth has skyrocketed almost effortlessly. They no longer need to chase prospects or spend thousands on outbound marketing efforts. Instead, their content simply attracts high volumes of prospects and gives them the upper hand to be selective in who they work with.
Kylie Jenner - Kylie Jenner and her family have become millionaires and billionaires thanks to being incredibly strategic with media. Their social presence and status sell their products and as a result their businesses are hugely successful.

Charli D’Amelio - Charli is an everyday girl posting videos on TikTok. She's now worth over 20 million.

There are examples of this everywhere you look. Take me for example, I started creating content back in 2013, when I started out as a blogger, and I now run a successful business that allows me to support my family, do the work that I love, and work four days a week. All because I did four things.

Created content consistently online
Grew and nurtured my audience
Sold relevant services and products to my audience
Repeated steps 1,2 & 3

It’s worth saying that many people may not agree with this way of making money and creating impact. I have met countless people who don't want to create content and prefer to make money quietly behind the scenes. This is possible don't get me wrong, but you cannot deny that it is a lot easier to make money in business when you have a strong personal brand fueling it.

I believe that the people with a strong online presence and personal brand will future proof any business endeavours that they pursue. Focus on this sooner rather than later to get to where you want to be.

Prediction one- video & Community

All of the successful business owners that I trust keep validating two things.

The demand for video
The importance of building community

Video

Social media will continue to evolve into a more immersive experience through an integration of physical and virtual worlds.

Knowing this, it's no wonder that platforms like Instagram, are becoming even more focused on video than ever before. And no, it's not just to compete with TikTok, even though that's what we're being told by some of the gurus out there.

It's because demand for video has significantly increased as user behaviour changes, and I personally don't think this demand is going to slow down, especially if the future is all about being immersed in virtual reality. It will be the creators who are already on video will have the strongest advantage.

Community

I predict that with social media, the power will start swaying more and more to its users and their community.

Take Tiktok for example. Highly produced content made by companies and celebrities actually performs worse than content produced by everyday creators.

Not to mention it's now the community that dictates whether a brand thrives or not.

Prepare for video & community

So, how can you prepare with video and with community? Here is an action step.

Get comfortable with video, stop denying it. Start asking yourself how you can get started, even if it means practising and taking your time.
Stop building an audience and start building a community. I know for me and my business in 2023, one of my most important projects is to really hone in on the community side of my business and bring my clients together as a community, and to go all in on video. And this is because I understand that in the future, it will no longer be enough to just post a video online and call it a day.

prediction three - youtube

I would say that the demand for starting a YouTube channel is the highest it's ever been. I think that more people are realising how much they are missing out on by not tapping into long-form video content.

Business owners in the online space are now realising three things:

Ads don't work the same way that they used to. Paid traffic is definitely not dead, but it is expensive. It's also no longer as predictable as it used to be. Because of this, many business owners can no longer justify and afford spending money on ads, only to reach the wrong audience and not get a strong return.
Tiktok is an unpredictable platform and you can’t control sales flow. Although I see many Tiktok creators getting to 1 million followers or hitting 6-figures in business, my biggest conclusion with so many of these is that they do not actually know how they achieved this.
The one resounding piece of advice I hear is that if you want to make money and secure your audience in the long term, you must get people off Tiktok as quickly as possible and onto your other platforms.
Instagram’s endless updates are becoming a concern. I would advise you to tread carefully and diversify your audience with a second platform.

Prediction four - SEO

SEO is changing.

Younger social media users are turning to apps like Instagram and Tiktok over Google search, meaning these social platforms are becoming powerful search engines.

As a response, Google has rolled out updates to promote original content from creators and will continue to read toward user-generated content.

This means that the power is actually in your hands, it means that being a content creator is going to be even more powerful than it is now. And if you are a business owner, you are a content creator. That's just a fact.

If it isn't clear to you already, take advantage of this and keep going. I promise you. It will pay off massively.

REMINDERS

You can control your social media strategy, but you can't control social media algorithm changes.
You can control the tools you provide to help your clients be successful, but you can't control whether they follow the steps.
You can control what you do, but you can't control what your competitors do.
You can control your finances, but you can't control a nationwide recession.

let’s recap:

Personal brand is going to be a huge focus for business owners.
Video is definitely not going anywhere, it’s time to harness it - especially long-form video content.
Don’t build an audience, instead build a community.
Don’t put all your eggs in one basket on social media.
Remember what you can and can’t control.