No matter how wonderful your product, how fantastic your service and how much you’ve spent in getting your business off the ground, unless you reach a “massive” audience, you will fail.

This is part I of a three-part series on ‘Is Your Business Idea worth Investing In?’


Today, every second person claims to be an entrepreneur. About 150k new startups are created each day. More than 65% of them fail.

A quick Google search on why businesses fail will throw up millions of relevant results, because there are a million reasons why a business may fail (and a million more that we don’t know of).

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Does Your Business Have a Massive Audience?
I’ve read a lot about startups, established businesses and what goes into creating a successful firm. And here’s what I think all those tips, theories and observations boil down to:

A successful business is characterized by two things: a good idea and a good strategy. Feel free to tweet this statement.

So, if you think you have an awesome business idea, what you need next is an awesome strategy to make it a success. 

In this three-part series we will discuss three questions you need to answer to draft a workable strategy for your business.

These questions come from Reid Hoffman, co-founder of LinkedIn, entrepreneur and venture capitalist. He has revealed the ‘The Three Rules of Investing’ that he applies to any startup he wants to invest in. 

These three rules are just as applicable to businesses that want to understand how they can make a strong case for their business model to investors.



Rule #1: How Will You Reach a Massive Audience?


Here’s the bitter truth: 


No matter how wonderful your product, how fantastic your service and how much you’ve spent in getting your business off the ground, unless you reach a “massive” audience, you will fail

This is especially true of online businesses.

By massive, I don’t mean 1,000, 10,000 or a 100,000 different individuals. I am talking in terms of millions. How will you do that?

There’s a lot of difference between the number of people you reach, and the number that actually buys from you. So, if you want to earn substantial profits, you need to reach a massive audience. 

And, today, when you have businesses vying for consumers’ attention left, right and center, how will you make your presence felt?

Here are some suggestions:


#1: Search Engines

I am assuming your business will have a website. If not, you really need to reconsider your marketing strategy.

Use your website to land you clients by search engine optimizing (SEO) it. Technicalities aside, SEO refers to optimal usage of keywords, quality back links and fresh, quality content. 

Update your website with quality content regularly to ensure that your website ranks better in search results.

Hire a professional writer to write content for your website, if you feel you won’t be able to do justice.


#2: Advertising

Initial advertising can help increase exposure and boost sales. However, it can cost quite a bit.

You could invest in on-ground or online advertising methods. On-ground advertising includes billboards, flyers, television advertisements…they’ll cost you a pretty penny.

Online advertising includes marketing via social networks (promoted tweets, Facebook ads, Youtube ads etc) and online advertisements (Google ads and ads on high-traffic blogs or websites).


#3: Email Marketing

Here’s a small anecdote I heard a while back. Three women were participating in a contest, which involved raising money for a nonprofit. They were given a week to raise money – the one with the highest donations would win. 

The winner collected $12,000! How?

Email marketing. That’s how.

To do effective email marketing, you’ll need to invest not in terms of money, but in terms of time. Building an email list takes time, nurturing it with quality information takes even more time. 

But, the more you share useful content with your email subscribers, the more loyal they’ll grow. Feel free to tweet this statement.

These loyal subscribers will be the ones most encouraging of your business idea, your products and services and will be willing to make a purchase when you request them to – for they feel they kind of owe it to you.


#4: Social Media

The best way to build a massive audience is to make smart use of social media. Again, this needs perseverance. 

Reaching millions with little to no investment is a very real possibility with social media networks, like Facebook, Twitter, LinkedIn, Pinterest and Youtube.

Encouraging people to follow your business brand, like your FB page, view your videos on Youtube and spread the word about your services is not easy. 

But, quality content, quick responses and building interactive relationships with your target audience will get you a response and reach that conventional advertising cannot.



What are your currently using to reach a massive audience? Which method have you had success with? Share it with the rest of us in the comments below.

Share, tweet and spread the word. Also, subscribe to this blog's feed (see the subscribe option in the sidebar) to receive an update when I add another useful and awesome post for your business.


Author: Urooj Kazi is a professional freelance business writer. To hire her to write content for your business, visit this website's Contact Urooj page.  

 


Comments

04/03/2013 3:32am

For successful business we need to have an original idea and developed a plan.

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04/22/2013 5:57am

All email lists can always be used for email marketing. Only need to contain the target users.

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05/15/2013 2:40am

A lot of it depends on what way we choose to advertise their services and products.

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05/15/2013 5:17am

E-mail lists we can use in their own marketing.

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07/04/2013 4:04am

SEO services are the best way to attract the desired audience

Reply
07/22/2013 3:30am

With proper investment can have a secure future

Reply
09/12/2013 10:45am

You will never find out is your business idea good if you don't try.

Reply
09/29/2013 2:08am

With good marketing can improve every business

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10/15/2013 11:45am

I like your creative ideas and there are different ways to target the audience like Advertising, SEO, Social media, SEM but i will prefer to SEO due to it's results. We all know SEO takes time to rank keyword or audience but results are durable and give you benefit for the long term.

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10/31/2013 12:14pm

thanks.

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11/01/2013 10:25pm

The best way to build a massive audience is to make smart use of social media. Again, this needs perseverance.

Reply
01/17/2014 8:51pm

Great tips and very easy to understand. This will definitely be very useful for me when I get a chance to start my blog.

Reply
01/18/2014 3:46am

Very good informative post that you have shared and thankful your work for sharing the information. Got some entertaining information and would like to give it a try

Reply
01/21/2014 12:38am

Your blog provided us with valuable information to work with. Each every tips of your post are awesome. Thanks dude

Reply
01/30/2014 10:26pm

I think this is going to be a lot of fun without having pants and join for a ride in the Istanbul train. I want to encourage you to continue your great work, have a happy weekend!

Reply
02/02/2014 10:48pm

Great site content about this topic,I have been previously lately in your weblog maybe once or twice at this point

Reply
02/20/2014 1:48am

Great Post.. I am get amazed after saw this post.. It is very informative to all.. Thank you very much for this info and keep going...

Reply
02/23/2014 10:22pm

Fantastic points and incredibly straightforward. This may surely possibly be very helpful to me while i obtain time to start my personal blog site.
Thanks :)

Reply

I’ve read a lot about startups, established businesses and what goes into creating a successful firm.

Reply



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