A bigger audience doesn’t mean more profit: What to focus on instead of audience size

Growing your following or getting more subscribers isn't going to make you more sales—especially if your offers aren't already converting. More followers does not equal more profit, unless your business is already profitable and your offers are already converting well. In today's episode, I'm sharing why audience size isn't the be all and end all of business growth—and what you can focus on instead.

– Why large followings can have hidden problems that negatively affect conversion and sales.
– How getting your foundations in place is really important *before* you scale.
– Why shifting your perspective regarding your content can help to nurture the audience you do have—moving them closer to buying.
– Why you can't keep creating free content and hope that someone likes it and buys your offer.
– The importance of a clear, intentional sales process to actually sell your offers.

Today, we're tackling a common misconception in the business world: the belief that a larger audience directly translates to higher sales. This myth persists, yet the truth is more nuanced and requires a deeper understanding of what truly drives business growth.

The Myth of Numbers

It's easy to get caught up in the numbers game. More followers, more email subscribers, and a broader reach can seem like surefire indicators of a thriving business. However, these metrics alone don't guarantee increased sales. Imagine a leaky bucket—no matter how much water you pour in, if there are holes at the bottom, it won't stay full. The same goes for your audience: without effective conversion strategies, the new influx won't contribute to business growth.

The Reality of Audience Engagement

Many entrepreneurs prioritize growing their audience over optimizing their existing operations for better sales. They invest considerable energy into expanding their reach, hoping it will magically result in sales spikes. Yet, a large following doesn't necessarily mean more engagement or conversions. For instance, an Instagram account with 200,000 followers may look successful, but the behind-the-scenes might reveal a lack of substantive engagement or sales conversion.

Who Are Your Followers?

Consider the composition of your audience. Are these followers relevant to your offerings? How did they find you—through organic methods or paid advertising? It's crucial to evaluate the quality and engagement level of your audience rather than just their quantity.

Focusing on What Truly Matters

Instead of obsessively growing your audience, focus on strengthening the foundation of your business. Here are some pivotal areas to concentrate on:

1. Solidify Your Business Foundations

• Systems and Support: Implement efficient systems and gather a support team to streamline operations. This setup frees up your time, allowing you to focus more on strategic aspects of your business.
• Structure: Define clear business goals and structure your days and weeks to enhance productivity and effectiveness.
• Brand Strategy and Messaging: Understand your ideal client deeply—beyond demographic details. Craft messaging that resonates with their specific needs and desires.

2. Nurture Your Existing Audience

• Focus on delivering value to the people already within your circle. Engage them with content that builds trust and familiarity. This approach ensures that when they are ready to buy, they think of you first.

3. Optimize Your Sales Process

• Distinguish between marketing (reaching people) and sales (converting them into clients). You need a robust sales process to convert interest into actual sales effectively.

Sales Over Size

When your business is set up correctly and your offers are converting well, that's the time to consider scaling your audience. But remember, scaling an unoptimized business only multiplies inefficiencies. It's like pouring water into that leaky bucket we talked about earlier. Before focusing on expansion, ensure that your current setup is leak-proof and solid.

In conclusion, growing your business isn't solely about increasing your audience size. It's about making strategic decisions that enhance your operational efficiency, sales conversion, and customer engagement. By focusing on these foundational elements, you can ensure sustainable growth and profitability, regardless of the size of your audience.

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