104: Audience Is Almost More Important Than Anything
The startup world is abuzz with the word TRACTION – you hear it and see it everywhere – blog posts promise “The 19 Channels You Can Use to Get Traction“, there are even whole books written about how to get traction for your startup. You type “startup traction” into everyone’s favorite search engine and you get “About 517,000 results”. Everyone talks traction, but do we really understand what it is?
Like on your car, startup traction is when your rubber tires bite into asphalt, and you go. If you’ve ever driven in ice or snowy conditions, you know the wonders of not having traction – your wheels spin and nothing happens – you press the accelerator, you hear the wheels whine, but you never get anywhere. In fact, that’s the exact feeling that most startup founders get when there is no traction for their startup. They just spent many thousands, to many tens of thousands, to hundreds of thousands to millions of dollars, months to years of time, coming up with the idea, pitching it to investors, getting it built, and launching this amazing, wonderful, ground breaking, game changing idea, only to press on the accelerator (pump tons of money into PR, advertising, marketing, social media marketing) just to hear the wheels spin on the ice and the company not budge at all, or just budge enough to barely move (not even cover expenses). There is nothing more frustrating than pressing the gas hard, pouring all of your heart and soul into a startup, and then, nothing. It’s probably the most disheartening feeling in the world.
Judging by what I’ve experienced in the startup world over the last 17 years, that the real problem is not traction at all. If you have to worry about building traction, then you have probably already lost, and you may never actually get anywhere. No, what you really need is audience, and you need it way before you need traction.
What do I mean by audience? Isn’t traction exactly the same as audience? No, its completely different. Traction is something you need after your have built your product, audience is something that you build before you even write a single line of code, or maybe even put together a deck. You can, and must, build audience BEFORE you build traction, otherwise, you’re building audience when you actually need traction, and then you’re wasting time building audience when you should have done that already.
Audience is, simply put, a adequately large number of people who will actually read, listen and watch what you do. These are people who follow what you say. read your blog posts, listen to your podcasts and watch your YouTube channel. This is your audience. Building your audience starts a long time before your build your business, way before you build your startup. It doesn’t really matter if they are email addresses, Facebook friends, Twitter followers, Quora followers or whatever (although not all audiences are of the same quality – email addresses are still the best, believe it or not). The audience also does not have to be unusually large either (as I said earlier, adequately large for your purpose, although a large audience is most definitely better, since quantity can sometimes paper over issues with quality). The key is that they actually read, listen and watch, actively, and in a very engaged way.
The beauty of audience is that once you have built it, you can start almost any business, and some of your audience will buy in. Especially if you include your audience in the whole entrepreneurial journey, no matter what you are building.
I’ve seen many examples of this, but I never really put my finger on it until I read Jeff Walker’s Launch, which is all about internet marketing which of course can be a little scammy, but deep in this book there was a great chunk of truth. He kept talking about how he can just “press a button and money flows in”, because he had grown a large email list of people who buy his stuff. And there are just some people who will buy everything he does. Once I realized he was talking about building an audience, then selling to them, I started looking for the secret to building an audience from nothing, which is where most people are when they start. He kept saying “you have to have a list, even a small one, and you have to grow the list” – using whatever techniques you can, such as paying for adwords and Facebook ads etc. The key is the email list, the audience.
With a big enough, engaged enough audience, you can literally, do anything. With no audience, you can’t do a damn thing. Now when I look around me, from that serial entrepreneur with a string of tech startups, to that teenager who runs a very successful ecommerce site, all I see are people who took the time to build audience, before, during and after they launched their businesses. Those audiences then became traction.
Think about all of the very successful people out there: all they needed was that one, first big, success. That success propels them into an audience. Once you have a audience, you can sell them stuff, over and over again. Once you have an audience that loves you, and engages with you and cares about you, then you have got it made. You can set up a store or a startup or a service selling most anything, and people will buy.
What is the trick to building an audience? Well, that’s a topic for another post. But here’s a tip: you have to give to get. You won’t build an audience by keeping things to yourself.
photo credit – drew ressler – moby @ electric daisy carnival
It’s a well known fact that these days, you spend an equal (or even smaller) amount of time writing a blog post as opposed to promoting that same blog post in order to get it heard. Since there are no more actual hours in the day, you can either write lesser quality posts, or shorter posts, or fewer posts, so I opted for the latter. Which is why you’ll be getting only 2 posts a week from me from now on, typically Tuesday and Thursday. Unless something really exceptionally newsworthy happens which I must talk about. I’m sure that you will thank me for this later 🙂
PS: Just a little teaser for my Thursday post: 3 Good Reasons To Stop Using LinkedIn, Unless…
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