Take a look at any businesses financial books and you will likely find a section that lists out the company’s assets and their current value, and what you’ll find is that the list of assets are almost always depreciating (unless it’s real estate). But when you are an online business and you are using the digital world to reach new clients and customers anywhere in the world, assets take on new meaning.
How you acquire new business becomes the most important aspect of creating revenue. Your ability to have a steady stream of income is dependent on how many people you can build a trusted connection with. This doesn’t happen easily.
So how will you accomplish this online?
If building a connection with your audience is going to be your asset it can’t be through social media because you do not own the connections you have with your following. You are on one end creating content and the pipeline between you and you audience is owned by the whichever platform you are using. They can disperse your posts to whomever they chose; they can also restrict them too. They also have guidelines for sharing content and if yours doesn’t meet the guidelines then you’re out of luck, you will get almost no visibility at all. And as for ads, just remember those ads you’re paying for went through an auction process. When your ad gets seen or you get clicks, it’s because you were the highest bidder. This is not how an asset works.
Your best asset is an email list of people interested in what you have to offer. These aren’t people you need to keep finding, they have given you permission specifically for whatever it is you offered them in return for their email address. You don’t need to pay for an ad each time to communicate with them.
If you look at businesses in the past, they grew by establishing a connection to a potential client for the present and future. That’s why the Rolodex was used by almost every salesperson. They held onto every lead they made, and it was easier to reach and sell to people they already made a connection with. It was much easier than finding a new lead every time. Of course, it’s important to add new leads to your virtual Roladex. But you have to foster those new relationships to a place of trust. And you can’t do that unless you have a steady reliable way of communicating with them.
When you own an email list that supplies your online business a steady stream of income, it becomes your greatest asset (other than you, of course). When it comes to online sales, being able to reach your audience quickly, effectively and consistently is the best way. When you send content to your email list, you’re in control. You can be sure everyone was sent your email and you don’t have to worry about buying their attention every time.
Building an email list is a much easier task than people think. A lot of people believe it’s difficult and then by mistake, they default into thinking social media is the way to go. The truth is, social media will only get you part of the way, but it won’t get you across the finish line.
So, do you want a REAL ASSET for your online business, or are you going to keep building one for someone else?