4 Ways to Use Experimentation to Grow Your Solopreneur Business

4 Ways to Use Experimentation to Grow Your Solopreneur Business

4 Ways to Use Experimentation to Grow Your Solopreneur Business

4 Ways to Use Experimentation to Grow Your Solopreneur Business

by

Jason Zook

e've been building online businesses for 15+ years and one of the most critical skills we've honed is: experimentation.

e've been building online businesses for 15+ years and one of the most critical skills we've honed is: experimentation.

e've been building online businesses for 15+ years and one of the most critical skills we've honed is: experimentation.

From the way you engage with your audience, to the marketing strategies you attempt, to the nuances of pricing your products, and more, the scope for experimentation in a solopreneur business is vast.

Embracing a culture of experimentation can not only unlock new opportunities but also foster a deeper understanding of your business and your potential customers.

Successful solopreneurs are the ones who are willing to take risks, learn from missteps along the way, pivot business models, and go back to the drawing board as often as needed.

We strongly believe that the difference between solopreneurs that succeed and those that fail, the one that succeed lean into experimentation in all aspects of their current business.

Experimentation in Content Creation

The content creation landscape is only going to continue to grow, both in amount of content created, but also in the various platforms that are available to online business owners.

There are really only three types of content: written, audio, and video. But, within those three types, come a vast array of manipulating and shaping those content types into blog posts, vertical videos, private podcasts, slideshows, webinars, etc.

To remain competitive and relevant, successful solopreneurs must not only generate fresh content but also innovate the way they present it. Experimenting with new formats can set you apart from your competition.

A great content strategy is one that...

  1. Stays relevant to your target audience's consumption habits

  2. Differentiates from competition

  3. Feels unique and honest

Simply creating a generic piece of content is not going to cut it for modern solopreneurs. An effective marketing strategy has to adapt, evolve, and change (which is where experimentation comes in very handy!)

What Content Formats Do YOU Like?

Yes, you should identify content formats that resonate with your ideal customers and addresses their pain points. However, it's critically important that you find a sweet spot where you enjoy the content strategy you've created for yourself.

Do you hate writing long-form blog posts? Then don't do it! Instead, maybe you can synthesize the same information via Instagram Carousel Posts.

Does getting on camera for YouTube terrify you? Maybe short, vertical videos are the right answer and you can get creative and not even have your face on camera but still provide value.

The key is to identify the overlap between what types of content your audience consumes and what types of content you can create consistently.

Don't Pre-Quit, Publish and Review

The fear of content not being perfect can lead to solopreneurs pre-quitting before they even hit publish. Pre-quitting is the act of counting yourself out, not sharing your creativity with the world, and assuming that your content isn't good enough before it even sees the light of day.

The average person does not care if your Instagram Reel, podcast episode, or email newsletter is "perfect." All they care about is that it helps them solve a problem, save time, or generate revenue for their own business!

Product owners who are willing to hit publish, accept critical feedback, and rinse and repeat the process consistently are the business owners who succeed.

Experimentation in Pricing Strategies

For solopreneurs, pricing is not just about setting a value for products or services—it's a pivotal element of their business model that can significantly impact profitability and customer acquisition. Consequently, experimentation with pricing strategies should be an ongoing process, tailored to the evolving needs and behaviors of potential customers (and the trends in the market).

Smart solopreneurs aren't afraid of discounts

Nearly every business on this planet offers a discount. The coffee you drink, the pants you wear, the car you drive, etc, nearly everything we purchase has a discount and it simply boils down to human nature. We need some form of coersion to spend our hard-earned money.

Discounts are a great way to test the value your ideal customer believes your digital product is worth paying for. You may think your online course should be priced at $400, but if no one is buying at that price, experimenting with different discounts can help you to find the price the market is willing to pay.

Tiered pricing can create additional revenue

Tiered pricing is where you offer different levels of a product or service at varying price points. This can cater to different segments of the market and can lead to an increased overall sales volume.

As an example, let's say you sell a $400 course that teaches copywriting. Your tiers could be the following:

  • $400 for just the course

  • $800 for the course + a 2-week live cohort

  • $2,000 for the course + 4 weeks of coaching from you

Tiered pricing can be an amazing way to package multiple digital product offers and/or services together which creates more value for your customer and additional revenue for you.

Unique pricing experiment: Bumpsale

A Bumpsale is when you price your product starting at $X, then with every sale, the price increases by $X. Here's an example:

  • You start your copywriting course for sale at $50

  • You set the "bump" amount to be $5

  • The first customer will pay $40, the second $45, then $50, $55, etc...

The power of Bumpsale pricing is that a customer can watch the price increase directly on the buy button and it creates urgency to grab the price they see before it "bumps" again.

Full disclosure: I invented Bumpsale back in 2009, created it as a software tool anyone could use, and sold it to a fellow solopreneur who currently runs it.

Experimentation in Marketing Strategies

For solopreneurs, an effective marketing strategy can be as essential as the quality of the products or services they offer.

Unlike larger businesses with tons of employees doing individual jobs, solopreneurs typically wear multiple hats, managing both the creation and the promotion of their offerings. Given the importance of visibility and customer acquisition, experimenting with different marketing strategies is crucial for long-term success.

3 Solopreneur Marketing Strategies to Experiment With

It's important for solopreneurs to approach any marketing experiment with a well-thought-out plan. You should determine your content goals, define your target audience, and research relevant topics and keywords. Understanding the goal of every marketing strategy can help you determine it's worthiness long-term.

Strategy #1 - 30-Day Content Challenges

One marketing strategy that solopreneurs can consider experimenting with is a 30-day content challenge. This involves creating and publishing a piece of content every day for 30 consecutive days. The content can be in the form of blog posts, social media updates, videos, podcasts, or any other medium that aligns with the solopreneur's expertise and target audience.

The purpose of the 30-day content challenge is to increase visibility and establish credibility in the industry. By consistently sharing valuable and relevant content, solopreneurs can attract and engage their target audience, ultimately driving more traffic to their website or social media platforms.

Additionally, the 30-day content challenge allows solopreneurs to experiment with different content formats, topics, and delivery methods. They can assess which types of content resonate most with their audience and yield the best results in terms of engagement, shares, and conversions. This experimentation helps solopreneurs refine their content strategy and optimize their efforts for maximum impact.

Strategy #2 - Build in Public

Solopreneurs are revolutionizing the way businesses operate, embodying the essence of a one-person business model that renders the traditional infrastructure of multiple employees almost archaic. At the heart of this business without employees is the philosophy of 'Build in Public', a movement that encourages transparency and community engagement right from the onset of a business idea.

In a Build in Public model, solopreneurs share their journey, including successes and failures, with an audience. This strategy not only entertains potential customers but also garners valuable feedback. By chronicling every step through blog posts, social media updates, email newsletters, etc, a solopreneur turns the process into engaging exclusive content.

Building in public transforms the business creation process into a story, engendering authenticity and trust, which are pivotal to creating happy customers. Moreover, it humanizes the brand, making ideal customers feel like a part of the solopreneur's journey to financial and time freedom.

Strategy #3 - Teach Everything You Know (Be an Expert)

Solopreneurs understand that knowledge is power, and by teaching everything they know, they position themselves as valuable resources in their niche. This approach not only benefits their audience but also establishes the solopreneur as an authority figure in their industry.

Sharing expertise can take various forms, such as creating blog posts, hosting webinars or workshops, offering online courses, or even writing e-books. Solopreneurs can leverage all of these avenues to educate their audience on topics related to their business, providing practical tips, guidance, and actionable advice.

When solopreneurs teach everything they know, they demonstrate their commitment to helping others succeed. This not only builds trust with potential customers but also encourages them to view the solopreneur as a reliable source for information and guidance.

Experimentation in Customer Engagement

Experimentation is a vital aspect of growing a solopreneur business. By constantly testing and trying new customer engagement strategies, solopreneurs can uncover what works best for their audience and adjust their approach accordingly.

Using an Email List Creatively

We believe having an email list is one of the most powerful tools in your solopreneur toolkit—it allows direct and personal communication with your potential customers.

But the key difference lies in how creatively one can utilize this resource. Instead of standard newsletters, consider sharing exclusive content that isn't available anywhere else to make subscribers feel special. Personal stories or behind-the-scenes peeks can enhance connection, making every email an anticipated event rather than just another item in an inbox.

Where social media content is always going to be fighting against an algorithm, an engaged email list has the chance to create consistent connection above any other medium.

Leveraging Surveys

One of the best ways to keep your audience happy and to learn from them over time is through surveys. Surveys can get a bad rap because when we think of them, we typically think of surveys we have no interest in filling out (like when our cell phone company wants to know how the customer support call went 🙄). But, your audience enjoys the content they receive from you and would happy to help you give them more of the same!

Two types of surveys we recommend:

  1. Post-purchase embedded directly on a successful payment page. These are surveys that will get you the highest rate of conversion to filling out. Ask questions like, "what one reason led you to purchase?" and "where did you hear about this offer?"

  2. Demographic and "what are you struggling with." This type of general survey can be sent via dedicated email newsletter (don't hide it in a long email). It's a great way to keep up with where your audience is on their journey and what they need help with, which can conjure up loads of content creation ideas for you!

There are many other surveys you could send to help you experiment with new offer ideas, new business models, new marketing strategies, and more.

Conclusion: Experiment More!

Being a successful solopreneur hinges on your willingness to experiment. Savvy business owners are willing to take small and big risks, try new ideas, and build a profitable business through loads of trial and error.

Whether you're experimenting with content strategies, social media posts, affiliate marketing, passive income challenges, or anything else in your one-person business, having an experimenter's mindset will help you inch one step closer to financial freedom.

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© 2024 Really Awesome Company. All rights reserved.

Get our Growing Steady newsletter with 3 tips every Monday for making your business more profitable, more predictable, and more peaceful.

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© 2024 Really Awesome Company. All rights reserved.