Follow The Leader: What Do Subscriber Numbers Really Mean For Your Business Prospects?
Starting something new in business used to be all about investment capital, big ideas, and connections to make things happen. Hence why top spots on the business ladder were taken mainly by business people at the top of their games. Not just anyone could stroll in and make a success out of some hobby or idea off the bat.
Now, though, with social media opening the business floor, success is available on much broader terms. In fact, with the rise of YouTube and Instagram business people, getting started doesn’t even take a necessarily ‘bright’ idea anymore. Instead, anyone with the drive or determination to do so can build a pretty decent customer base, whether through striking snaps or streamed gameplay footage.
This is fantastic for bringing equality into business at last, but it’s possible that finding the success we seek is still more complicated than we might imagine. Even if you’ve got a decent online following, for instance, there’s no guarantee you’ll feel as though you can start a new business straight away. In fact, you may be at a complete loss as to how that hard-won audience helps you one jot towards your ultimate business dreams.
You wouldn’t be alone, with plenty of top social media account owners still sticking to their day job through either fear of a simple lack of understanding about how this business thing really works. Honestly, though, that audience alone could lead you into business better than you’d ever imagine, and we’re going to consider how.
Your audience will probably be willing to pay you
Content creators, online streamers, and more are in the best position to build sustainable business models because they’ve created relationships on something that isn’t money-based. As creators like Amanda Palmer and her impressive Patreon drive prove, that ironically makes for some of the best returns. After all, your followers will likely feel personal connections with you, meaning they may voluntarily donate money per creation, or even invest in a merch line. Brand deals, too, could see you earning from your audience in sustainable ways. If you stream games for free right now, seeking the best gaming affiliate programs could soon see you exceeding your day rates while still catering to the needs of your audience. Equally, beauty bloggers who collaborate with makeup brands can earn big bucks in no time. It might not be the traditional ‘business’ model, but, increasingly, this is the new way to start a business!
Your following can create connections
As we’ve seen from the recent influx of so-called ‘YouTuber books,’ large followings also create lucrative connections you might not be expecting. After all, marketing experts are always on the lookout for profitable investment options, and shouting loud and proud about your influence can help you to stand out in that sense. As simple as that, you may find that businesses approach you with all manner of propositions, including writing a book, creating a product line, or even embarking on paid tours, etc. depending on your specialty. Each of these things can turn a hobby into a business overnight, making your audience more lucrative than you may ever have thought possible. What’s more, your follower numbers night not need to be as large as you think to make this happen. Even a following of 30,000 or so drastically increases your business appeal, and your opportunities as a result.
Large viewer numbers mean extensive analytics
Analytics and the points they prove matter a great deal in the business world, especially as online operations continue to take to the fore. Companies now use analytics like those built into most social media platforms to tailor content, understand audience needs, and generally improve processes. And guess what? Your online following leaves you free to do the same. After all, you’ve got a ready-made audience on hand that could teach you everything from your target market to how best you could grow this opportunity. These are snippets of information that even big businesses pay big money for. And, free analytics software and inbuilt processes mean that you can enjoy those same insights to start building a business that’s a significant market contender.
Admittedly, a large social media following in itself still isn’t enough to see us overcoming the need for a regular wage, but it’s a definite starting point in the right direction. Even if you don’t have a specific business idea in mind right now, then, it’s worth putting these pointers into practice to start building something new regardless.
Categories: Outside Contributors
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