The Most Dangerous Number In Business!
It’s not a trick question! It’s rather quite simple… It’s the number one! This one number when combined with any other marketing outreach can leave your business open to huge losses. A lot of business owners & sales people don’t realize how open they are when this theory comes into play.
Imagine if you drove the same way to work every single day. You found the fastest route with the least amount of obstruction to get you to your final destination. Now you believe and assume everyday that this road will be open and accessible, but what happens when it’s not?
What if one day the city completely shut down the road or decided to add 50 stop signs within a 10 mile radius of your work. This would completely change your ability to drive this road efficiently.
Do you see why having 1 option could be trouble sum?
The one question every business owner and sales person should ask themselves is “Do I have a single point of failure?”
Having one option in any field of marketing opens your business up to being a victim of circumstance. We would never recommend diving only into Facebook or Instagram. We’ve already seen major changes in both social media platforms! This is why you don’t want to put all your eggs in one basket.
Recent example:
Not to long ago Facebook did exactly what I’m warning about. Back in the day if people “liked” your business page, then you could reach out to your “liked” audience for free. We saw companies and consultants recommending to clients to pour major amounts of cash to capture these “likes” from their targeted audience. In my opinion that isn’t bad advice with a hint of caution!
But then it happened…
Fast forward to today and Facebook requires you to pay each time you want to send a message to your niche audience. Otherwise, you can only reach a small percentage of your current community. Imagine if you had poured huge amounts of capital to capture and build up this list and then to have it all ripped from under you! I’m sure being “PISSED” wouldn’t exactly describe your mood or opinion on Facebook’s new change.
I will always recommend that any business or sales person tries to own the marketing medium they are using. This helps ensure that they can always have access to the audience that they spent their marketing dollars.
I’m not recommending to pull of Facebook or any other social media! If you got that impression then you completely missed my point. Having only 1 marketing outlet can be one of the most dangerous situations for any business.
This is why the number one is truly the most dangerous number in all of business marketing.
I wouldn’t recommend just focusing on social either! The goal of any marketer should be to effectively market to each individual shopper depending on where they are at in the sales funnel. Different marketing mediums have known to be more effective than others at doing this. This is why we recommend a solid mix of Social Media, Email, Video, Podcasting, Chatbots, and Display marketing. (keep scrolling down… not over)
Having a large mix of different marketing opportunities allows your business to never feel the danger of the #1 theory and also the ability to truly test.
Testing different platforms and mediums allows your business to effectively see which outlet can produce the best ROI. You never want to stop or halt any marketing efforts completely, but putting more capital toward one area that gives you better results is absolutely recommended.
Here are 4 questions that every business should ask to avoid getting screwed:
- What if your main marketing strategy stops working?
- What if the cost of your best marketing strategy rises considerably?
- What if you rely on email marketing and the government cracks down on this type of strategy?
- What if your largest customer leaves you or goes out of business?
All of these situations could happen to business and almost any sales person. Don’t leave yourself exposed to a possible bad situation.
By avoiding and preparing for these situations your business can build a stronger foundation for future success. The best case scenario is that you never experience any of this mentioned and you set yourself and your business up to make some real capital!
Sometimes it can save you a lot of money by going directly to a professional for help! Not everyone out there will rip you off and just take your money. We have a lot of great agencies and business consultants that we recommend. If you have any questions or would like help feel free to shoot me a message!
Have a great day from Hustle-Now!