The Signal: Satellite data is more available than ever, and there are tons of ways to use it.
As we mentioned in this Hustle Sunday story, reusable rockets, miniaturized satellite technology, and the privatization of space industries have fueled a satellite boom.
In the next 10 years, the number of active satellites in orbit could rise from 4k+ to 50k.
Fifty-four percent of satellites are now launched for commercial use and ~25% are dedicated to observing Earth.
The quality and frequency of satellite images of Earth have increased rapidly in recent years. Industry leader Planet captures 1.2m images a day, covering the whole world. Their highest-resolution images can capture details as small as a shoebox.
Satellite imagery is now affordable enough to be used by small businesses, and applications for that data are popping up in all sorts of industries.
Opportunities: You don’t need to be SpaceX or Boeing to get into satellites. Launch services are dominated by a few heavy hitters, but there are plenty of smaller businesses further down the supply chain.
Some specialize in turning pictures into numbers. RS Metrics counts vehicles in retail parking lots to generate data about economic trends. Earth-i tracks activity at copper smelters to predict commodity prices.
Others use satellite images for their own purposes. A livestock company in New Zealand uses images of its pastures to decide where to graze its cattle. Lawn Love, a California-based platform, uses satellite mapping to provide remote quotations for lawn maintenance.
Satellite images are also used to:
monitor pipelines
predict forest fires
track endangered elephants
Your Brand in Space: Building and launching a satellite is the most inaccessible part of the industry, but this space is worth watching.
Open Cosmos provides a get-into-space service that covers design, launch, and operation of a satellite from $700k with a turnaround of less than a year. The firm has raised $7m in funding and partnered with the European Space Agency.
Their success exposes demand for services that support the launch industry. Entrepreneurs could explore:
satellite insurance brokerage
mission planning services
operation software
custom component design
Accessing data: Experts we spoke to say that the process of buying satellite images is not straightforward. Not every provider covers the required area at the required frequency and resolution.
Image brokers exist, but there is an opportunity to build a platform that connects providers to buyers and makes data acquisition painless.
If a satellite isn’t covering the desired locations, it can be maneuvered into a new position. One possible model is a satellite rental service that would allow companies to capture custom images without owning a satellite.
Direct to consumer: The post-pandemic consumer is concerned about the origins of products. Over the past year, 53% of Americans used their buying power to make a positive difference on an issue they care about, and 64% would pay more for sustainable products.
But 74% don’t know how to identify sustainable products, and 53% don’t trust companies who say their products are sustainable.
Satellites are already used to gather data about the origins of consumer products:
The EU monitors unsustainable farmland use
Global Fishing Watch monitors illegal fishing
NASA monitors water pollution
Startup Trade in Space uses satellites and AI to quantify the coffee in a farmer’s field. Blockchain technology is used to add crops to a digital ledger so that every bean can be traced back to the field. This data is used by traders, but it could be of use to consumers.
A platform combining satellite and blockchain technology could show consumers the field of cows where the milk in their coffee originates, what the farmer was paid, and whether child laborers harvested the beans.
Home or commercial property buyers might be interested in data like traffic volumes, availability of street parking, nearby construction projects, and flood risks.
Quick-Fire Opportunities
Sensory Art Has the Magic Touch
Parents on Pinterest are searching for sensory art projects they can do with their kids.
Source: Pinterest Trends
Sensory art is a fancy name for a slew of crafts (like finger painting) designed to engage multiple senses at the same time.
It has its roots in sensory integration theory and is believed to help children -- including those with autism -- develop keener emotional regulation, creativity, and problem-solving skills.
Capitalize on this trend by offering subscription boxes with everything parents need for new art projects delivered to their door each month. You can draw project inspiration from curated Pinterest boards, and niche down to cater to parents of autism, or other special needs groups.
Or start a free email drip campaign of curated sensory art activities, and use it to build an audience for other parenting-related products.
You could also target occupational therapists (OTs) who work with children to overcome both injuries and preexisting disabilities.
The Bureau of Labor Statistics reports that there are ~127k OTs in the US alone, with 15.5k+ specializing in pediatrics. They may benefit from online communities, newsletters, courses, or subscription boxes that help them bring this concept into their practice.
Finally, there’s a whole range of sensory play toys that generate hundreds of thousands of dollars each month on Amazon, according to Jungle Scout. For example:
If you were around for the ’90s you may remember the claw clip -- a popular accessory that made it easy to manage long hair without the hassle (or tension headaches) often caused by barrettes or ponytails.
Source: Google Trends
Search interest on both Google and Pinterest shows that claw clips are back, and they may follow the lead of other resurrected hair accessories (like spiral hair ties and scrunchies) that now mint millions.
The simplest way to capitalize is to sell claw clips.
Amazon searches are up 368% over the last 90 days, according to Jungle Scout, and this 4-pack generates $446k/mo.
Three-star reviews reveal that people love the colors, but wish:
The paint didn’t peel so easily
The teeth and spring were more durable
The clip was wider to handle truly luscious locks
A general Amazon search for “claw clip” returns results for women only. Source: Amazon
Most products currently target women, but there are active communities of long-haired men who might respond to something designed just for them.
For example, the r/FierceFlow subreddit for men with long hair has ~99k subscribers and has more than doubled in size since COVID lockdowns (hint).
Search interest is also up for claw clip-related style advice.
You could capitalize by creating content (e.g., downloadable style guides, TikTok and YouTube videos, etc.) to draw leads for other hair-related products.
The Latest COVID Shortage -- Clowns?
A circus in Northern Ireland made headlines recently when it claimed that COVID-related visa issues have led to a critical clown shortage.
If you’re surprised to hear clowns are still in demand at all, you’re not alone. Movies like "It" and "The Joker" (and let’s not forget the global clown scare of 2016) certainly hurt public perception.
But the data suggests this long-lived niche is underserved, and could support a thriving business.
UK searches for circus tickets are ticking along, approaching a 17-year high. Source: Google Trends
There’s a global community of people who are still deeply passionate about the art of physical comedy (“clowning”), and it could be the perfect niche because:
Practitioners are purpose-driven, working as either professional entertainers or volunteers in hospitals, schools, and conflict zones. They’ll pay for training and connections that further their mission.
Clowns have a high CLTV, developing their alter ego and participating in the clown community over decades (e.g., one Texas clown association keeps a long list of 25-year members).
But the industry is way behind on technology, pointing to a different kind of opportunity from the ones we normally highlight: Rather than exploding consumer interest, what we have is a passionate community that’s being kept artificially small and fragmented by outdated technology.
Clown industry websites are almost universally clunky and outdated. Source: ShrineClowns
There could be room for someone with technical expertise to swoop in and build a 7-figure business via 1 or more of the following:
Paid online communities: Clowning is inherently community-oriented. Clowns join local groups (known as “alleys”) and pay $40+/yr. to belong to clubs like the World Clown Association or Clowns of America International.
Use modern tools like Slack, Facebook, or Circle to connect practitioners on a broader scale, and offer an experience outdated groups can’t match.
Growth of the r/clown subreddit shows what happens when clowns get modern community tools. Source: Subreddit stats.
Digital media: Data from Clowning Around magazine’s advertising rate card reveals very high $50-$200 CPMs. It may be possible to succeed with a niche newsletter for clowns, monetizing via ads, paid subscriptions, or affiliate deals (e.g., Clown Antics offers 10% to affiliates).
Education and Training: The Clown School charges $300-$900 for online clown classes, and The Idiot Workshop charges $125-$250 for different character development sessions.
A few weeks ago Cj Dubois asked fellow members of the Trends community what they’ve done to become the sales experts that they are.
“I've achieved the success I have up to this point by being a beast of the follow-up game,” he wrote, “but my ability to close is now my biggest bottleneck.”
As always, Trends members came through with some stellar advice. We mined the 85+ comments to bring you the Trends playbook for closing a B2B sale.
1. It starts long before the close
This first step was best summed up by Jason Fromer, sales director at Intuitive Surgical, who wrote, “You can’t fix your closing ability independently of your sales process. It is a step that builds off of all the other work you’ve done (prospecting, qualifying, preparation and discovery).”
Allen Tucker put it this way:
Allen Tucker offered up some advice for optimizing the sales process
As Zach S. put it, “If you suck at closing, you probably suck at prospecting and qualifying a pipeline. That’s the most important, and most difficult, part of the sales process. That’s where you should start.”
When it comes to building a pipeline, 2 things stand out:
Find better quality leads by understanding the specific problem you’re solving: Start by asking yourself if the product you’re selling is the right solution for the people you’re selling to.
Per Eric Rardin, “If you’re solving a problem they know and have stated they have, and your solution is better than or less expensive than the competition, you usually don’t need to close, because they know they need what you’ve got.”
Allen Tucker again with how to find better leads
More is more: According to Jared Monaco, whose brother works at Zillow, “Data does not support ‘closing skills’ as an indicator of conversion. The leading indicator of conversion is leads taken.”
This was backed up by Michael Scott (not that Michael Scott): “The more ‘at bats’ you have the better. I used to get caught up in wishful thinking where I would be waiting on specific deals to come through. All of that anxiety can be removed by having a large pipe.”
You surely didn’t expect us not to put a Michael Scott meme in here?
2. Practice different closing lines
Royce Ard pointed out that closing is a natural part of the sales process, and your prospect is expecting you to ask them to buy.
Quit worrying about whether your ask will bother someone. Your time is better spent memorizing and practicing a few closing lines.
Some examples for inspiration:
“We’ve agreed on a price, we’ve met all the requirements you’ve requested, and the timelines are right on track; can we now place the order?” (Judson Abts)
“Is there anything we’re missing on specifications or on the price that is preventing us from moving forward?” (Judson Abts)
“Anything I’ve missed? When can you give me approval so we can get started on our end?” (Judson Abts)
“Are you planning to purchase with the monthly subscription or the annual plan?” (Royce Ard)
Jorge Alejandro said that with experience, you’ll notice the nuances and when to use different approaches. “I’ll hit a Type A guy like Sam Parr with a straight up ‘so can we do this?’… whereas an engineer type will get a ‘since you’ve had a chance to review all the data, have you decided to move forward today?’” he said.
3. Once you’ve made the ask, shut up and listen
According to Jason Fromer, the biggest mistake young sales people make when it’s time to ask for the business is they “feel the need to fill the silence after they do (they keep talking). Make the ask that you know is in the best interest of your potential customer, and then shut up.”
If after all this you’re still struggling to close, you can experiment with pricing and value-adds to create a better offer for your prospect.
Further Reading
If you’re still hungry for more, make your way through this list of Trendsters’ favorite sales resources:
