More Clients Memorandum
Two options, which will you choose?
Posted on August 12th, 2018.If you want to get your message in front of your ideal clients there are really only two options.
You can either build an audience of your ideal clients yourself, or you can “borrow” an audience someone else has built.
Most advertising is about borrowing audiences. With TV adverts, the audience comes for the show, and you borrow them by putting your ads in the breaks. With Facebook ads, the audience comes for the interaction with their friends, you borrow them by putting your ads in their newsfeed. Same goes for Youtube ads, Linkedin ads etc.
It also goes for partnering. With guest blog posts, the audience comes for the blog as a whole, you get your message in front of them with your post and hopefully divert them back to your site. With a guest appearance on a podcast or a webinar, you're similarly tapping into someone else's audience.
Building your own audience takes a lot more time. And crucially, you have to earn it. You have to have something people will willingly come to see. Something that's either hugely entertaining (like a TV show) or hugely useful (like a regular podcast) or ideally both.
Most businesses choose one method rather than trying both. Although Red Bull famously switched from borrowing an audience through TV ads to building its own audience through online and live events and its motor racing team. It used to pay TV channels to advertise to promote its brand, now TV channels pay Red Bull to show its events while it gets to promote its brand for free (thanks to Richard Stacy for sharing that example).
There's nothing inherently better about either method. But generally speaking, the direction of travel today favours those who build their own audiences.
It used to be difficult and expensive to build an audience so only those with huge resources could afford it. Today, huge audiences are being built by individuals on shoestring budgets but who have something interesting and different to say. Meanwhile, advertising is getting ever more expensive as more people pile into online ads despite no more slots being available (and increasingly, customers are tuning out ads).
It's little wonder that “influencers” who have built their own audiences can now be paid small (or even large) fortunes by big brands to get access to those audiences.
Right at the start, I asked you which option you would choose. Build an audience or borrow one?
It's a trick question really.
I'm going to recommend that long-term, you focus on building your own audience. But that you kick-start your audience building by borrowing someone else's.
For example, run adverts not to sell things, but to get subscribers for your email list or podcast or youtube show. Use guest posts and appearances on webinars and podcasts or summits to build your own audience.
He (or she) who commands the attention of an audience has the all power.