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Using social media to grow your business can be overwhelming. There are so many algorithms to consider, so many metrics, so many targets. Luckily, I am here to help and explain how advertising works, in simple terms. Think about it in two ways—rented land and owned land. Think about Facebook, Instagram, Twitter, Tumblr, etc. in terms of running ads on them. This is the equivalent of rented land; that’s you basically being able to go to Facebook, go to Instagram—go to these platforms—create an ad, and then bring people over to your site or app or whatever, in order to transact.
Why are ads starting to work against us?
The algorithms used for social media advertising are making it increasingly hard for business owners or influencers to thrive; it’s almost as if they are against the very people using them. That happens primarily because they are trying to increase the prices on the land, so Facebook ads and the cost per installs or the cost per acquisition. Everything has been rising higher and higher, and that’s the case with every single platform. It can be boiled down to simple economics: supply and demand.
How does supply and demand affect entrepreneurs?
The more people that actually demand to use Facebook ads, Instagram ads, etc. the more the price is going to go up. It’s a very basic concept. And so, as a consequence of that, in 2019, these are going to rise; they’re going to become even more eclectic and strange and topsy-turvy, especially with all these social media platforms like Facebook being in turmoil the whole time. So the number one thing that you need to be able to do is to take people from your rented land and focus on bringing them to your owned land.
How can you bring people to your owned land?
There are three things that you can do, which are actually counted as your owned and operated land. Number one, your email list. Even though many think it’s outdated, it is still one of the best channels to directly engage with people. We at Fanbytes have this huge email list where we just send out a new product or send out new things, and suddenly, we get a bunch of inquiries about it. The really interesting thing is that the email list is something that we own and operate. It’s very hard for you to really mess with that in the same way that Zuckerberg could very easily mess with the Facebook ad system, in the sense that you are suddenly not able to achieve your goal.
The second thing is something that you may not actually have thought about, and that’s WhatsApp. This is the craziest thing, as billions of people have WhatsApp. The cool thing about it is if I send something to you, I have a direct channel to you. For example, if a friend sends me a WhatsApp message, I have to see it. If you are able to own a relationship with your audience just through WhatsApp as well, it’s another channel that you own and operate, and you can scale that.
The third thing is another one that not many have thought about, but it’s Facebook Messenger. This is something really, really interesting; what makes it so powerful is the fact that once again, you have this direct channel between your brand and your consumers.
The underlying thing is to stop playing on rented land and focus on your own land. If you were to do one single thing in 2019 to avoid being at the helm of Zuckerberg waking up the next day and thinking, “Oh, man! I’ve had a bad day. It’s time to mess up the algorithm,” is to take control of your own land and your own community, because by doing that, you no longer have to constantly keep paying for rented ads and all that other type of stuff. So that’s the number one thing that all marketers need to do, in any industry they’re in. Think about your owned communities, how to increase them, and how to serve them the best way possible, to stop playing on other people’s land.