The services industry is one of the fastest growing sectors on the planet, yet there are three worrying trends that will adversely affect the success of any company providing services to a time-poor market.
Time is the most valuable currency on the planet, no one has enough of it, we all regret wasting it and wish we had more of it.
Until now, being time-poor has served the services based industries well, because why would you waste time doing something for yourself, when an expert can get it done faster and more effectively than you could.
Success is all about timing, and there are three trends that are making it harder and harder for professional service providers to remain successful.
Worrying Trend #1 - Low Barrier to Entry
So many of the mentors, coaches, wellness experts, photographers and graphic designs I meet complain that they have business competitors doing better than them, even though they have far less experience and credentials.
Guess what...you'd better get use to it.
Today anyone can pick up a camera (or smart phone) and call themselves a videographer or photographer or create cool stuff on Canva and call yourself a graphic designer.
I once met a life coach who was just 21 years old…
This is the #1 trend that is making having a stand out personal brand so important.
The new girl with a yoga business and great Instagram skills can beat you, even if you have certificates and years of experience to prove you are better!
In today's digital World, great branding and marketing will beat credentials every time.
Great branding and marketing will beat credentials every time.
Worrying Trend #2 - Convenience Over Quality
Years ago we told the printing companies we worked with that their days were numbered…that a large % of print would go digital and they would have to stop competing on quality and start focusing on convenience.
There is no way your desktop printer could match the quality coming off a printing press, but does that really matter?
You can argue that you deliver better quality due to personalised service or expertise, but your marketplace is going to choose the easy way out.
A bookkeeper recently defended his quality of service because you can’t trust the online tools or outsourced services to do it properly.
But a micro or small business looks at the service and if they can get their books done for a fraction of the cost in a fraction of the time…quality doesn’t matter.
Yes, it might be to their detriment if they get it wrong…but most are willing to run that risk to make it easier.
Saying you offer great service is no longer good enough, you need to make it easy for your ideal clients to find you and engage with you, delivering quick and tangible resuts that matter.
Saying you offer great customer service is no longer good enough.
Worrying Trend #3 - Overwhelmed with Information
Not that long ago, when your ideal prospect had a problem that you solve, they would come looking for you.
Now their first stop is to ask Aunty Google.
There are literally millions of videos and articles helping you solve your problem available at your fingertips.
Now digital assistants like Siri, Echo and Alexa answer questions in a flash, you don't even need to touch a button.
Of course, not all the information is correct and much of the advice is wrong, but it’s readily available and answers trend #2 - convenience.
Abraham Lincoln once said “You can’t believe everything on the internet”, yet that’s where most of your market go for answers.
They no longer feel they need a service provider and even the pool guy is being told by his clients which chemicals and equipment to use because, “This is what I found on the internet about it”…
Your ideal client wants cheap, fast, good and given the trends, they can already get it, whether it’s right for them or not.
Your ideal client wants cheap, fast and good.
Personal Branding has been all about striking when the iron is hot, engaging and captivating an audience when your ideal clients has the problem that you solve, making sure they come to you for the solution.
If anything, getting the timing right has become even more important, along with being high visibility to stand out in a noisy and cluttered World, where there is unlimited and instantaneous choice.
Find out more about how to create a stand out personal brand to overcome these worrying trends and become a successful service provider, in an upcoming Brandworking Workshop with international award winning personal branding specialist Lauren Clemett.