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Planning Your Unique Expertise For Knowledge Commerce: Guide
The simple but important steps of planning how to exploit your unique knowledge for gains
One of the most exciting parts of being in online business - especially a Knowledge Commerce business - is planning your strategy.
But it's not as simple as just vaguely deciding what to do. Your plans have to be firm on principle and flexible in practice. Your plans have to be documented if they are to be effective.
One important thing to remember when planning is that there's no perfect plan. You can only be well-informed, take enlightened decisions based on both data and intuition, and then get into action based on the decisions you've made.
As your plans get activated, you may have to make many tweaks to the original plan, but all this improving will actually help your business. So don't think of it as chopping and changing. Think of it as refining your plans.
In the planning stage of business, there are many different areas of strategy to firm up. So here's what to be ready for:
1. IDENTIFYING YOUR UNIQUE EXPERTISE FOR KNOWLEDGE COMMERCE:
Part of the art of being a Knowledge Commerce marketer is to know what you can offer as your unique expertise. Every individual is unique. Even two professionals in the exact same space cannot be identical in their approach. Still, looking at what you can offer as unique knowledge requires some objectivity.
2. PLANNING YOUR BUSINESS MISSION AND GOALS FOR KNOWLEDGE COMMERCE:
After identifying your unique expertise, you plan your business goals and mission. What is success to you? How will you recognize it when it happens? What values will you and your business stand for? What will you be flexible about and what will you never deem to be negotiable?
3. LOCATING AND SEGMENTING TARGET AUDIENCES FOR KNOWLEDGE COMMERCE:
At this stage, you have to settle down in earnest to comprehensively study your potential target audiences. How many small segments can they be broken down into? How do they behave on the Net in their purchasing behavior? Where do they hang out online? Whose word do they trust? What are their typical personas and buying journeys?
4. SPYING ON AND EVALUATING YOUR COMPETITORS FOR KNOWLEDGE COMMERCE:
As the next stage of the strategy, study your competitors. Who is currently ruling your coveted space in the area of knowledge? Who are the also-rans? Are you exactly the same as them? What could you be doing to make the competition look less valuable than you?
5. DECIDING ON YOUR IDEAL BUSINESS MODEL FOR KNOWLEDGE COMMERCE:
There are many types of business models in Knowledge Commerce. All have strong proponents. Many marketers use a mix of the many models available. Know what your options are and plan how your business will earn money.
6. DECIDING ON YOUR POSITIONING IN THE MARKET FOR KNOWLEDGE COMMERCE:
How will you position yourself and your business and brand to beat the market and cream your audience? How will you articulate your differentiation to your target audience? How will your product deliver this differentiation in actions and not just remain a bunch of intentions?
7. PLANNING YOUR PRODUCTS AND SERVICES HIERARCHY FOR KNOWLEDGE COMMERCE:
What is your products and services repertoire going to look like? How are you going to array your low-priced products, and then include more premium-priced offerings up the pricing ladder? How are you planning to woo people to buy up your product funnels in terms of bigger and more expensive products?
8. CLARIFYING YOUR CONTENT MARKETING STRATEGY FOR KNOWLEDGE COMMERCE:
If you are going to be "content marketing" to promote and sell your products (as all online businesses should), how are you going to plan your blogging and social posting topics and your editorial calendar? How are you going to ensure that every piece of your content reflects your uniqueness and also strikes a resonance with your potential buyers?
9. MONITORING AND MEASURING YOUR STRATEGIC PARAMETERS FOR KNOWLEDGE COMMERCE:
What are you going to benchmark yourself against to measure your performance? What parameters of achievement will you track, monitor and measure? Which of these parameters of performance will you prioritize? What analytics model will you follow to review and rate performance?
10. KEEPING YOURSELF AT THE CUTTING EDGE OF TECHNOLOGY FOR KNOWLEDGE COMMERCE:
It's always important to devote some time in business to continue learning. Technology evolves really fast, so what will you plan to do to stay ahead of the curve? What sources of information and research will you bank on to show you the trends and potential opportunities for growth? How often will you review technological progress directions?
There seems an awful lot to strategy planning, but fear not, because we'll take you there in easy steps. It will all be a breeze, and you'll hugely enjoy the process too.
We'll take you there, step by step ...
Read our collection of articles below that explore all aspects of planning your unique experrtise for Knowledge Commerce ...