BRX Pro Tip: 3 Reasons an Owned Audience is Better Than a Rented One
Stone Payton: And we are back with Business RadioX Pro Tips. Lee Kantor and Stone Payton here with you. Lee, we’ve spoken about an owned audience and the virtue of an owned audience, but dive into that a little bit more.
Lee Kantor: Yeah, I see more and more people kind of playing on these platforms and getting big numbers of followers – the TikToks, the LinkedIn’s, the, Facebook’s, Instagram’s, the YouTubes, all the different places people are going to build an audience and get subscribers. And all of that is important. And people should spend time and energy doing that. But it is even more important to take some of those people that are finding you on these third parties and move them into your own kind of world. You have to own the audience. You have to be in control of how often you communicate with them. It is just critical. As you grow your business and your brand, you have to be able to move these people out of those third-party apps and into your own world. So, do whatever you have to do in order to do that. And here’s a couple of the reasons why you should consider that.
Number one, direct communication with an owned audience. You have direct line of communication to your most loyal followers and fans. That is critical. These algorithms change constantly. One minute, you could have a lot; and tomorrow, you can have none. So, you have to take control of this, and be proactive, and move people off of these platforms into your own world.
Second, there’s just greater control and stability. Like I said, these platforms are constantly changing their algorithm because their business, you are the product in their business. The fact that you can build an audience is good for them because then, they can put ads around it, and they might compensate you pennies but they’re picking up dollars from this. So, you’re at the mercy of their changing algorithms. Whatever suits them, they will do. They do not care about you and your audience, no matter how big it is.
And then lastly, while building an owned audience takes time, it’s more sustainable in the long run. Sure, it’s more work. You’re going to have to… You know, you’re doing the work on these individual platforms to kind of attract an audience, but you have to spend some time in creativity in pulling that audience into your own world. Then, you will, then, be able to reduce your dependance on paid advertising to reach your own audience. You’re going to have lower costs, ultimately, associated with kind of constantly adapting to whatever platform change happens, and it’s going to increase the lifetime value of your audience members and your business. The more people you’re able to put into your own kind of database, the more valuable your brand and business will be, and you’re not going to be reliant on any third party.
And that includes Business RadioX. If you have a show with Business RadioX, you should be moving the people who listen to your show into your own world. You should be moving all of the guests and all of the people that are part of the process of being part of Business RadioX into your own database. That’s for your own good. That way, you have control.
