Have you ever wondered how to effectively promote your business? What strategies can help you expand your customer base and increase revenue?
In his book Million Dollar Weekend, Noah Kagan details how to get customers for a new business. He discusses social media engagement, email marketing, and the importance of evaluating your results. You’ll find practical advice for entrepreneurs looking to boost their business presence.
Read on to discover actionable tips and real-world examples that can help you take your business to the next level.
Promote & Expand Your Business
Launching a new business successfully requires exploring various strategies to expand and promote it. To establish a strong foundation for your venture, it’s crucial to strategically integrate social media engagement and email outreach—and then measure your results. These elements work together to effectively introduce your business to the market and set it up for success. Let’s explore some of the details of Kagan’s advice on how to get customers for a new business.
#1: Diversify Your Social Media Customer Base
Building a loyal following depends on pinpointing and emphasizing the unique characteristics that distinguish you from others. Emphasizing the unique and advantageous characteristics of your business that have the potential to draw in aficionados is crucial. An aide who skillfully demonstrated her competencies across multiple online mediums quickly attracted an audience and captured lucrative engagements, underscoring the significance of acknowledging and advertising one’s unique talents.
Additionally, successful fundraising efforts by individuals like Seth Godin’s “smallest viable audience” concept and Kevin Kelly’s “1,000 true fans,” prove the benefit of focusing on people whose interests align with your skills. Creators like Kyle Lasota have utilized platforms like YouTube to develop close-knit communities centered around specialized topics like biohacking, accomplishing this with audiences that may be small in number but are exceptionally engaged.
Choose a platform that plays to your strengths and appeals to the target audience you wish to engage. Crafting content involves showcasing and delivering your unique value proposition—your competitive edge. Leveraging his experience working alongside elite sports professionals, Ben Kenyon built a supportive network for his initiative, known as the Great Day Squad.
Reflect on the prevailing perspectives within your industry that you challenge, the significant subjects that are frequently ignored, and the usual errors that occur. Matt’s Off-Road Recovery garnered a following through the documentation and sharing of his adventures in a way that educates and captivates the audience.
Individuals who produce material across various domains have underscored the significance of regular and impactful content on platforms such as TikTok and YouTube. Being authentic and providing value consistently is the cornerstone for growing engagement and fostering a loyal audience. The Circulation Framework for content fosters expansion by first customizing material for a distinct audience and then extending its reach to engage a wider and more diverse viewership.
Deepening engagement and broadening one’s impact is possible by positioning oneself as a guide rather than a specialist, and by pursuing a journey together that encourages cooperative efforts alongside those you lead. Devin Stone captivates his audience by making them a part of his content.
#3: Generate Revenue Through Email
Social media is crucial for audience building, yet the fundamental driver of revenue generation lies in the strategies associated with email communications. Chris Von Wilpert’s strategy, which involved offering compelling incentives to potential subscribers, resulted in a substantial increase in the number of individuals subscribing to his newsletter, showcasing the success of such tactics.
The principal strategy for interacting with clients involves the use of focused email campaigns, which have been demonstrated to substantially increase income for companies like AppSumo. Leading figures in their industries, such as Nick Bare from Bare Performance Nutrition, have adopted distinctive strategies like adding personalized handwritten notes to create a memorable impact on their customers.
#3: Evaluate the Results
The sixth and seventh chapters of the book delve into the development of exceptional content, employing a variety of enticing offers to draw in leads, and strategies for digital correspondence promotion. Kagan emphasizes the need for regular assessment of assumptions against real outcomes and, when pinpointing effective strategies, to focus energy and resources on these specific methods to enhance the company’s growth.
Entrepreneurs can determine the effectiveness of various strategies in their particular market by engaging in minor marketing trials. Kagan advises assessing the effectiveness of a marketing channel over a set timeframe, such as a month.
Starting with a clear goal, like growing the subscriber count, can establish a solid groundwork for the broader growth of the company. Business founders ought to prioritize efficient strategies that enhance productivity while avoiding investing too much effort in approaches that yield scant outcomes.
Determine the tactics that foster achievement by experimenting and learning from the outcomes, and then focus your efforts on those particular elements. Documenting results in a log dedicated to marketing experiments aids in tracking progress and identifying which tactics should be expanded upon to further the company’s growth.
