Tips to Measure the Value of Your Subscribers
Your subscribers and followers create hope for your business to make more sales. By staying connected with them, you can continue to expand your brand.
Content Marketing Institute contributor Robert Rose has shared some useful tips to help you measure the value of your subscribers.
He says, ”
As Drucker himself said, “It is the customer who determines what a business is. For it is the customer (alone) who, through being willing to pay for a good or for a service, converts economic resources into wealth, things into goods.”
Great marketing adds value that customers are willing to invest in and that can create wealth for the business. But not all customer investments involve a purchase. They can include things like time, attention, referral, personal data, and brand loyalty, all of which can be converted into wealth for the business.
Media companies understand this. As one television executive stated almost 20 years ago in the book Audience Economics, “I can’t think of another business that makes one product, but sells a different product. We make programs and put them on the air. We are not selling the programs; we are selling the people that watch the programs.”
If you watched the recent documentary The Social Dilemma, you have another understanding of how relevant this model is in today’s digital marketplace”.
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