Renting Your Runway
You can rent pretty much anything these days. From houses to furniture, tools to shoes, the rental economy is here. There are many benefits to renting and not owning; this is not the same for some business assets.
Why are so many creators and maker renting their audience and customer’s attention over owning it?
They are building massive audiences on social channels such as Twitter, Facebook, YouTube, TikTok, and now Clubhouse. These are great channels to meet and engage with your audience, but they are all rented attention.
These platforms could shut you down at any time, and then you are left with nothing. That is unless you are leveraging these channels to build your owned asset:
Your Email List
Email is still the best way to stay connected and in front of your audience. Unlike these social channels, your email list is yours, and nobody can take it away.
Email is still the channel with the highest ROI. Your email list is the best way to stay top of mind and build trust and credibility with your audience.
It is also the best way to build sales. The real sales begin with nurturing your subscribers in email. Leveraging segmentation enables you to send the right messages to people more likely to buy and a different message to those quite not there yet.
Leverage your social influence to build your email list and start early. The sooner you begin building your email, the quicker you will see your revenue increase.
The rental economy is here. But there are some business assets that you just shouldn’t be renting.
What business assets are you renting vs owning?
- Nick Jensen (@ncklrs) January 8, 2021