You don’t need more followers. Let’s say you have 1,000 followers and 100 customers. (Which would be an insanely good conversion rate in most situations.) If you want to double your business your instinct might be to figure out how to get to 2,000 followers. Assuming you’d retain a similar conversion rate. But you don’t need another 1,000 followers to get another 100 customers! You just need to figure out how to get 100 of the 900 followers you already have who haven’t become customers to buy from you. It’s easier to sell to people who already follow you than to find new people to sell to. And yet… Everyone always wants to know how to get more followers.
What I've learned is that growing followers is very different from acquiring clients. We don't need a million followers to gain many clients and hit our revenue target.
Great advice there Josh. See the opportunity that's right in front of you and take better advantage of it. Good point for today. Thanks for sharing. 🙏
Yes, that's a great reminder! Here's why I think there's a focus on more Followers... You can't "See" sales...but you can "See" Followers... more "followers" = boost in ego. 😝
I was planning on writing about this tomorrow, too. It's a trap created by social media platforms to want more or think you need more. One of my small business clients had this unlock the other day: they realized that over 60% of their annual revenue comes from 4 top-spending customers. So we decided to go after 4 more of those, not 40 more of the lower-paying ones.
Great examples and point
This is so obvious that it takes someone from the outside to recognise it, Josh Spector
Love this insight! Josh Spector Focus on converting existing followers into customers.
That's right, the followers metric is obsolete.
Learning to package, present, and sell your offer is so much more valuable than trying to learn how to grow a massive audience. I'm 100% on board with this message, Josh
VC Operating Partner, GTM Advisor & Due Diligence
1yThis is so true, Josh. I remember a great marketing video I watched 10 years ago discussing how to upsell and cross-sell. first, the prospect might want 10,000 FB followers, but next, don't sell them how to get 10,000 YT followers. Sell them on their next challenge: to "convert" 10,000 FB followers.