In October 2007 my son-in-law was hit by a roadside bomb in Iraq. 2 of the 4 men inside the vehicle with him were killed. The others, including my son-in-law, Jon, were grievously injured. We spent almost 2 years helping him through rehab for many physical and other injuries.
In October 2007 I was at the height of my “popularity” online. I was one of the “big names”… and I was forced to give it all up for family. My wife and I chose to help raise my grandson Johnny while our daughter helped her husband at Walter Reed Army Hospital.
The change in my business was dramatic and it happened literally overnight. The only thing that saved my business were my customers. The loyal buyers with whom I had built relationships and who supported my business with their patronage.
Without them, we never would have come through that period in our lives the way we did. I thank God every day for my customers.
When it comes to building a successful business, the value of a customer far outweighs that of a subscriber or a social media follower. As a business owner, it’s essential to understand the clear distinction between the three and the impact they have on your bottom line.
Social Media Followers
Followers are individuals who have chosen to connect with you through platforms like Facebook, TikTok, Twitter, LinkedIn, or Instagram. While these followers contribute to your brand visibility, engagement and reach. It’s critical to understand that they do not represent direct financial commitment.
These “followers” live on an external platform that is completely out of your control. If you’re lucky 10% of these people will actually see the content you’ve posted online… let along engage with it. Social media followers provide an audience for “broadcast” style communication, but their value in terms of revenue generation is unpredictable (at best).
Subscribers who have not bought anything are essentially window shoppers. They may have shown some interest in your products or services by signing up for your email list or newsletter, but that’s where their commitment ends.
They haven’t made the leap to actually purchase anything from you, and there’s no guarantee they ever will. Convincing a subscriber to take the next step and become a customer is a constant uphill battle. Don’t get me wrong, there is value in having a large list of subscribers, it’s just a matter of dialing your offers in to get them over to your customer list.
A customer has already demonstrated their willingness to invest in you. They’ve made a purchase, and that action speaks volumes. They’ve put their money where their mouth is, showing that they trust in the value you provide. Even if it’s just $7, this level of commitment is invaluable when it comes to building a business that generates consistent revenue.
When it comes to engagement, conversion rates, and overall satisfaction, customers always come out on top. When you send out emails to customers, they’re more likely to open them, take action, and buy AGAIN!
Customers are also more likely to provide valuable feedback that can help you improve your products and services.
At the end of the day, the basis of everything we do as business owners comes down to three things:
Customers are the lifeblood of any business. Nurturing those customer relationships should always be a top priority. Invest in building a strong customer base, NOT accumulating email addresses.
Bottom line: given the choice between a subscriber, a social media follower and a customer, the answer is clear. Customers!
Customers should be the primary focus of your marketing and sales efforts. By prioritizing customer relationships and providing exceptional value, you can build a business that stands up to the biggest tests you might ever face in life.
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