I believe we all know it is better to own than rent. The same should apply to your marketing & advertising. If there is any confusion as to what I mean by rent or own, I will explain below.
As an advertiser, when you pay for media advertising from TV, radio, newspaper and billboard you are renting their audience. If you control your properties such as blogs, social media outlets, video channels you own that audience.
In no way are we implying that you should not advertise your business with media vendors. If you are spending your resources renting their audience, use your investment to place your business in a position of ownership of your audience. Think about this, if you grow your social network to more than 10,000 people locally, you have the ability to speak to those 10,000 people at any time with the click of a mouse.
By owning your audience, promoting sales, events, and products are all at your fingertips vs. spending thousands on media. The 10,000 fans or followers that you have are people that are interested in your business. When you rent an audience, you don’t know if the listeners/viewers are fans of your business or if they would patronize your business.
The next time you are planning your marketing campaigns, think about renting and owning your audience and how you can use their strengths to create the best campaign for your business.
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