How We Leverage an Owned Audience for Revenue
Luke Ford once said, “In business, if you don’t own the audience, you better own the patent.” And that, friends, is the bottom line.
We all know traditional media is a marketing expense that’s very hard to measure. You’re basically renting the print space, TV commercial or the radio spot and putting it in front of someone else’s audience. When you quit paying, the ads disappear, and so does your branding and lead flow.
Digital advertising is very similar. You’re renting the space on someone else’s website, hoping to get a click-thru to your website. Again, when you quit paying, you are “evicted” from those websites, and sent back to square one.
Organic marketing can come in many forms: search results, social media mentions, likes and followers, links from content, and so on. Many of you may be wondering how this fits into the “renting” category. Didn’t you earn that traffic? Isn’t it free? Well, yes and no.
You certainly did earn it, as it takes a lot of effort to get organic traffic to your website. But it certainly isn’t free. You spent real time and money to receive that traffic. And guess what? When that traffic does hit your amazing website, more than 95% will quickly bounce away, many never to return. That feels rented to us.