Yesterday, I heard Scott Stratten talk about business awesomeness in a webinar run by the Australian Businesswomen’s Network (ABN) and the above statement stuck in my mind.
For many years, building a list was the key to online success according to many marketers and people worked hard to get more email addresses.
Now, the list isn’t mentioned as much but there is much talk of being on social media – and some will certainly imply or say that the more followers the better.
Is it just a sign of the times that social media is taking over from email lists and html newsletters?
Scott uses the term fractional reaction to show how limited social media exposure can be.
Let’s say you have 100 Twitter followers and you tweet something important at 1o am. How many of those followers will be watching their Twitter feed at 10am? If they are not looking, there’s a very good chance they won’t see your tweet. How often do you go back very far in your social media feeds to check you haven’t missed something?
On the other hand, if you send an email at 10am and I’m offline, it will still be in my inbox when I get online.
Email or social media, I may ignore your message because there are too many things to choose between or because it doesn’t interest me. But Scott is saying more will at least see your email. And your email has more chance of being opened if you have built a reputation of sending emails worth reading.
Of course, the other advantage of an email list is that it is yours.
And thus you have control over contacting those people to build your relationship and business.
If you have tried both email marketing and social media marketing, which has given you the best results?
It really isn’t easy to put a (return on investment) ROI on social media as some it is based on relationship building, gaining credibility as a thought leader, exposure and learning as well as direct marketing – social media doesn’t work just as a marketing tool.
Social media can take a lot of time to make regular posts, although often in short bursts, whereas writing emails tends to take bigger blocks of time.
With the use of automated emails, the same email can be used over and over in a way that just can’t apply to social media.
If you leave a social media platform or it stops, you lose those followers. Likewise if the platform changes rules, you may find it harder to stay in front of your followers – for example, if they start charging.
I hadn’t really thought about comparing the two options before hearing Scott yesterday. Yet I can see a lot of wisdom in his words.
Of course, there is no reason to not build both an email list and a social media following but which is worth more time and effort? Is a social media following worth pursuing at the expense of your email list?
I know I have put less effort into building an email list than I used to – and now I am rethinking that. Something to consider at my next working on my business session!
Is this a new perspective for you, too?
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