To sell your product or service, consumers have to know your product or service exists. The question is, do you pay for attention on other media platforms or do you create your own platform?
On today’s Black Entrepreneur Blueprint podcast episode # 520, Jay discusses the pros and cons of each approach and gives you 5 steps to create a profitable platform of your own.
LISTEN TO THE FULL PODCAST EPISODE
BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 520
The more media you own the more money you can print. On today’s show, I’m going to discuss the power of owning your own media platform and I’m going to give you five (5) steps to build your own platform.
***Leads are simply a function of movement into traffic sources you own
If you own the media, you can generate leads for free. This is a long game move, it’s the most critical component to building a successful sustainable business that people don’t use.
***Leverage social media to drive them to your flywheel or ecosystem where you get their information so you can continue to market to them.
What is a media buyer? A person or business that pays for media exposure on an established media platform.
Pros
- you can buy media anytime you need to
- you can scale by buying media
Cons
- It costs money
- Your ad may not be profitable
- Space has to be available
What is a media owner? A person or business that creates and owns the media platform.
Pros
- You own and control the media platform,
- You can advertise on your own Platform for free.
- You can make money on your platform by selling ad space and leads.
Cons
- It takes time to build a platform.
- You must create or curate content on a regular basis to get traction.
Steps to own your own media, not rented media, (podcast, newsletter, website, etc.)
The three forms of media (owned, earned, and paid)
Step 1. Use content and social media to drive traffic to your own media platform.
Step 2. Determine what type of media you want to own and create it.
Step 3. Create useful content for your audience on a consistent basis.
Step 4. Create a monetization plan and develop product ideas (physical, digital, services yours or someone else’s
.Step 5. Create a marketing flywheel and lead generation system.
