No matter if you’re a big company with a huge following or just a new firm starting out of your garage/home, advertising is a necessary evil. Without it, you’ll soon phase out and lose out to your competitors, unless you advertise. Don’t get us wrong, product/idea is the most important thing, but without dissemination of that idea, it’s as good as a dream: good to have, but no change in reality.
Now, there are more than a thousand places and ways to advertise your business depending on your target audience, each offering a unique audience that can be your product into a suitable perspective (read influencers and first-users). But bottomline remains the same, If it adds value to your business, you must try it.
While trying a new advertising platform, three things are considered as paramount in its valuation:
- Cost of Advertising (CPI,CPM,CPC etc)
- Time ( How long do you need to advertise, to have a certain recall among that audience)
- Audience (Is the audience relevant to my business?)
In Social Networks, like FB, Twitter, Instagram and ofcourse, FirstFate, all these factors are necessary covered; some more than other. In general, because social networks are so broad and vast, chances are you’ll be able to find your target audience provided you give out the right message in your ads and business pages on these social networks.
First Fate is no different. When we launched Map My Journey, there was one thing that we were quite certain on: It will help new businesses with special products but limited marketing budgets, to reach out their target audience in a short period of time. The difference with the other networks, is the audience on First Fate is actually looking for businesses that offers products similar to yours. On MapMyJourney, you leverage your loyal customers ( Influencers ) to share your business on their FirstFate profile. Now, whether you pay them via discounts or they do it with the goodness in their hearts, will depend on type of business you’re in, and your relationship with them, in general. Now people who are following their recommendations, are more likely to try your business/service since they have a proof of sort, and that too from a friend or person they consider worth listening (or following, so to speak) to! Here’s where you are likely to experience the power of FirstFate!
You might need to also build your own network, just to engage with your followers with business updates and what not. Afterall, it’s still a social network.
But here comes the free part: Not everyone will want to be paid for their recommendations. People add check-ins to their social profiles, almost every day. But now, they are visible on a specific page of their FirstFate profile, and not scattered over the newsfeeds. You can imagine the power you can leverage out of it, with your customers and other stakeholders, without the need of having to specifically advertise your business.