A brand new year introduces itself with some fuss.
On the one hand, there’s the closing of the previous year.
Getting your numbers in order, determining whether you hit your goals (or even surpassed them) and many other things.
On the other hand, the beginning of new opportunities.
Opportunities to keep the business at a steady pace, to scale it, or even sell it and set forth a new adventure.
What we believe 2022 will bring to your business (and personal life) is nothing more than a reinforcement.
That eCommerce is not yet at its peak, even though it may seem like it; and that there are still countless opportunities for you to take advantage of.
Let us brief you on our thoughts.
Our thoughts on what 2022 will bring to your business
First and foremost, this is solely our opinion.
You are more than welcomed to agree or disagree. We’d be happy to hear your thoughts on this as well!
Mindset
Mindset is fundamental for business owners.
Without a growth mindset, you probably wouldn’t have become the successful business owner and entrepreneur you are today.
That being said, 2022 will bring more mindset challenges for both your professional and personal lives.
On the professional side, you’ll notice a lot more orders coming in, but also an increase in the overall costs.
It will look as though you’re not actually growing the business (profit wise), but only moving it slightly forward.
You need to understand that 2022 will be a year of change in terms of technology. And that can be overwhelming, especially if you’re not a tech savvy person yourself.
These concerns can affect your personal life too because there will be some doubts about your own ability to move forward.
You can move forward!
Moving forward doesn’t mean following one path alone. You can always turn left or right, never forget that.
Turning left or right can mean selling the business (if it’s getting a bit more troublesome than you can handle), or scaling it the proper way.
Whichever path you choose, you can count on AEPIC Partners to help you.
Keep your mindset in your priorities. Don’t stop working on it because it will be essential.
Advertising
Remember what we just said about mindset?
Costs in advertising will continue to rise.
This will mean higher costs and can mean lower profits… If you don’t prepare yourself.
More and more businesses are waking up to the necessity of putting more effort into advertising. Which means, they’ll raise their marketing budgets to ensure stronger growth.
This isn’t necessarily bad for your business – it just means you need to become more aware of where your customer’s LTV really stands, and how you can sell (even) more often to the same customers.
You have the advantage when it comes to advertising because you’ve been doing it the longest.
Privacy
Again, stick to a growth mindset!
Privacy has become an even bigger concern.
Following the advertising changes, and with more companies advertising as well, the strongest ad channels (Google, YouTube, Facebook and Instagram) will now become more protective of people’s data.
By 2023, third-party cookies will cease to exist (or so it’s said), meaning 2022 is a year of big changes in this department.
What 2022 will bring for your business in this area is determined by a single word: preparation.
You need to make 2022 a preparation year for first-party cookies and data collection, otherwise your advertising costs will rise even more.
Get your customer’s email addresses, set up the proper API’s and cookies in your channels, because this will be a year of change.
The best mindset for 2022
New eCommerce business owners will panic slightly with what we’ve just described.
But you don’t need to panic. Change is a part of business and of life and we’re sure you understand that.
We don’t know if you’re familiar with the book Rich Dad, Poor Dad. But there’s a great teaching (among all the other teachings) in that book.
The premise is that you always have two options:
- To look at it from a “I can’t afford it” point of view;
- To face it from a “how will I afford this” point of view.
With business changes it’s the same thing.
You can look at it from a “cup half empty” perspective and panic over them.
Complain about it and make your life harder to endure.
Or you can choose to see this as an opportunity.
If not all businesses are ready for first-party cookies, how can you take advantage of it?
If not all eCommerces are investing in advertising, how will you take advantage of this?
And, if they really weren’t that invested in advertising, maybe there’s other marketing tools they’re yet to be aware of. And you can also take advantage of that.
Mindset is key for successful business owners.
2022 will be an outstanding year for those with the right mindset to handle it.
