3 Lessons from Seth Godin’s Masterclass

Source: Acumen

Author Toni Koraza

Seth Godin is sometimes referred to as the “ultimate entrepreneur for the information age.” He’s an author of 19 international bestsellers that dance on the fine lines of marketing, business, and culture.

Seth Godin writes every day. His blog is one of the most famous blogs on the internet, with millions of monthly views. You can subscribe to his free newsletter, enroll in an alternative MBA, and start one of Udemy master classes.

Modern Marketing with Seth Godin is a widely popular class on Udemy, with more than 2,000 students. The enrollment price is $229 (199.99€), and the course comes in 45 videos, which translates to 6 hours of material.

Every penny spent on Seth Godin’s insights is money well spent. Seth’s ideas can help you bring your business to the forefront of our lives. Here are my three most valuable insights from the masterclass.

1. Marketing is All About Change

Business and marketing are all about change. The only constant in life is change. Otherwise, your work might become dull.

You have to create change to better yourself, your product, and the working culture. In this context, change means better. But what is better exactly?

Better is in the eye of the beholder, according to Seth Godin. Only your audience can tell you what is better. You are producing stuff, content, and services for others — always for others.

The biggest enemy is average. Most businesses create average products to reach an average audience.

Nobody wants to buy an average masterclass. Nobody wants to watch an average movie. And nobody wants to read an average book or an average blog post. Your enemy is average, and you have to change and provide better value.

Source: Dancing with words

2. Micro-niche for MVA

Going niche is more important than ever, according to Seth Godin. The minimum viable audience is a type of audience that needs extremely specific products. You can create stuff that is 1 inch wide and 10 miles deep.

Companies that try to service everybody often serve nobody. Full-service law firms are the wrong kind of law firms to hire for a specific problem, says Godin. 2,000 people company can specialize in one field and dominate the market. The same size company can hardly be the thought leader in 20 industries.

When you know your consumer, then you can produce exactly what they need. If you know how to create something valuable for just three people on this planet, then create just for them. Microniching creates more value for consumers and ultimately brings more rewards.

Creators are often afraid to serve such a minority because they’re toast if they fail those three people. You don’t have to care as much with a wide audience, because there is always somebody else to take the place of lost consumers. Your skill can hardly improve when you service everybody.

3. Psychographics

Seth Godin is an inventor and a pioneer of new terms in business and marketing. You’re bound to learn something new about the world around you every time you listen to him.

Demographics are outdated, and modern marketers focus on psychographics, according to Godin. Psychographics is the social study of lifestyles, attitudes, aspirations, interests, and values.

You might not be like other people your age. You might be different than your countrymen. I’m not like other 20-year-olds, but I’m like some 20-year-olds. I’m not interested in exactly what everybody in my generation does — perhaps I’m not interested in what most of my generation does.

Demographics are a lesser factor in figuring out consumers and creating valuable marketing strategies.

70-year-old grandmas that love sports cars may escape the demographic radar. But the Internet of Things gives you an opportunity to find and target specific personality traits.

Psychographics offers perfect tools to find a minimum viable audience and create constant change in your field.

Source: Dancing with words

The Takeaway

Seth Godin’s masterclass is a wise investment, even after reading this story. The course is packed with more value then you can find in years of studying marketing. Personally, the three most valuable insights from this course are:

  • Marketing is all about change
  • Micro-niche for a minimum viable audience
  • Use psychographics to discover the right audience

Seth Godin changes the way you see the world around you. He’s challenging the status quo in every minute of the lesson. And you can put these ideas to practice straight away.

Marketing is not the same as advertising, and you can create a strategy that feels easy and morally correct. You’re not screaming about your mediocre product from rooftops.

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