News, Insights and Stories from the Australian and New Zealand tech ecosystem.

Followers vs Customers

 

Seriously – Some people are treating Social Media in Business like some sort of dick measuring contest. The harsh reality is though, unless those 50 thousand followers you gloat about are converting to 50 thousand incoming dollars to your business each month – you are going to have a very short lived life of self employment.

For most businesses the definition of a customer is someone who put’s money into your business, they do this because you provide them with a service or product in return. As a new business owner, especially if you are bootstrapping it, you need to realise that from the get go, the chance of you making it to the 1 year mark in your business is less than 30% – and that if you are going to have any chance of eating, living, sleeping and paying bills comfortably you will need to be selling shit [lot’s of shit] to survive.

As start up owners we become obsessed with our business, hell if my business was a person it for sure would have an AVO out on me for being around it far too often. This obsession comes from being passionate about what you are doing, and this is a good thing – but we need to learn that it is way too easy to mix up priorities in a new business and obsess over the wrong components of the business at the wrong times.

I remember almost a year ago when I first started this site, that I actually lost a WHOLE day just by being on twitter and facebook too much, no seriously I spent something ridiculous like 10 hours flicking back and forth, seeing if those following the business’ social pages had grown. This kind of stupid insane behaviour is the same as going back and forth to the fridge when you are hungry and can’t see anything you want to eat. You need to invest in other activities like shopping to have a fridge with food you want,  and the same goes with investing in growing you incoming dollars for your start up.

Think of ways to engage your current followers, surely 200 followers spending money with you is better than 20,000 spending nothing? Remember at the end of the day the business who is growing their income streams and customer database are the ones that will end up selling for more in the future!

What do you do to convert YOUR social media following to active customers in your business?

 





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