Known widely as the “ultimate entrepreneur of the information age”, Seth Godin is the author of 19 bestselling books, whose ideas on marketing, business and culture have amassed him a following of millions of amateurs and professionals in the aforementioned fields.
Here, we offer you three lessons, taken from a rather numerous list of advices you pick up from Seth Godin’s Udemy master class, which will certainly help you gain a new perspective on key aspects of entrepreneurship, marketing and business.
- Marketing is very closely related to change
Business and marketing are closely related to change, while change represents both their product and their driving force.
You must always create change, in your life, in your work – which affects other people’s lives. Change always leads to something which is ultimately better. What is actually “better”?
Well, the definition of “better” depends on the person experiencing it. In marketing, business and entrepreneurship, it is your audience that can be the only person to what is better, since they’re the ones you are making changes for. Constantly create new content, products and services for people – always for others.
Change perfects your product or service, and you should embrace it because nobody wants average products.
- Micro niches should be the goal for entrepreneurs
Companies that try to serve everyone’s needs, very often end up serving no one.
Following the advice of Seth Godin, entering very narrow niches is more important than ever before. The hardest audience to reach is the audience that asks for specific products, therefore decreasing the scope of products and services you need to create for their needs.
Imagine a legal firm that offers 360 services. Such companies never get hired for specific problems. However, the same legal firm which specializes in, say, corporate law, could dominate the market or become a thought leader in that branch.
Creating products or services for a handful of people actually deters entrepreneurs due to the fear of having their business fail in case they fail that handful of people. Of course, in a rather large market, you don’t have to worry as much about your audience or customers, since there’s always someone new to acquire and someone to handle your lost customers, but it makes progress very hard for your products and services in such circumstances.
- Psychographics over demographics in the modern world
Using demographics to understand who your customers are is considered obsolete by Godin. However, psychographics – understanding who your customers are through their beliefs, wants, needs, personalities and activities is the best way to understand your customers.
With every listen or reading of Godin’s literature, it is clear that he is constantly coming up with new terms in the business world, which have either never been used or never been connected with business. One of those is psychographics, which he considers a key tool in understanding your audience for whom you are creating new products/services.
The reason for this is the fact that you may not be like other people your age in terms of your interests, passions, ideas and activities, or that you may like things that generally people who are several decades older than you enjoy. What is important is the understanding that such people exist and adapting your method of finding such people in creating the audience who you can market to.
“If you believed what he believes, you’d do precisely what he’s doing. Think about that for a second. People act based on the way they see the world. Every single time. Understanding someone else’s story is hard, a job that’s never complete, but it’s worth the effort.” – Seth Godin, “Emapthy is difficult”