Published on December 3, 2021 in Audience Retention & Conversion.
Social media is not the place to build an audience long term for your online business. There are a truckload of reasons for this, but let's start with this one...
Here are links and resources mentioned in today's video. Enjoy!
Imagine if, like many, many other people, you'd worked for years and years to build a strong, loyal audience on MySpace. Well...where's your audience now? They've moved on. Sure your "follower" count or "subscriber" count might be a big, juicy number...
...but that number only tells us the total number of people have ever clicked "follow" in the entire history of your social media account. In other words, it doesn't mean much today.
The point here is that social media platforms come and go. They're trendy and eventually, once the hype's all over, they start falling out of favour.
And so this isn't a good environment to build a long term audience for your online business...no matter what the "online gurus" and experts say. And these days, social media giants like Facebook and Twitter are getting themselves in trouble with governments. That's not good for your business either!
Another big problem with relying solely on social media for your online business is that you don't own your list of followers. I've been in this game long enough to remember when these big platforms first came along...
...and one of the first things I realized was, there's no way to download or make a copy of your followers or subscribers. There isn't even a way to move subscribers from one account to another on the same social media platform.
In business terms, what this means is that you don't own your list...some tech giant does. You can't download or backup a copy of your list. And worse, the tech giant controls your access to the audience you've worked so hard to build.
In other words, they decide what gets seen and what doesn't. In fact, because of the algorithms that control social platforms, most of your followers won't see your posts and content.
As if things couldn't get worse...don't forget that the tech giants that own these platforms can change their rules and the terms of service that govern your use of the platform -- and of course, apply them retroactively.
All of this means that social media, while potentially useful in some ways, is simply too unstable an environment to rely on for your online business. The audience you're building around the work you do and the valuable products and services you offer is simply too important.
Your list of followers is absolutely critical to the survival of your business. So what's the alternative? If social is just too unstable, too trendy and short term, and relinquishes too much control to tech giants...what are us online business owners to do?
Well, there's another approach to online marketing that I'm a huge advocate for. it's cheap, it's incredibly reliable, everyone understands it, it's been around for almost 30 years, and it gives you total ownership and control over your list of followers...and that is, Email!
it isn't trendy, it isn't sexy, it isn't what all the fake gurus are hyping. But you know what? It freakin' works! A single subscriber to your email list is worth many, many times more than someone who follows you on social media.
Think about it: Someone who subscribes to your email list is saying, "I really like what you do and I think it can help me. Send me more!" That's insanely powerful! Further, unlike social, when you send out an email, your subscribers will ACTUALLY see your message! What a concept!