When beginning any endeavor, it’s worth asking how much is enough?
How many blog readers is enough? How many customers? How many subscribers?
What many entrepreneurs miss is that there are a few ways of calculating it out.
The default setting for most is to reach for the masses. If you get 180,000 spending a minimum amount, you’ll succeed. If you get 50,000 unique visitors a month, your ego will be satisfied.
But what if all those customers who spend the smallest amount, never come back?
Chances are they won’t.
What about the unique visitors? How many come back the next month?
Likely not even a tenth no matter how great of a site you have.
It’s sort of crazy when you begin calculating the numbers and loyalty game.
For a business I’m starting, I could calculate that I need more than 1,200 people in per week spending a small amount to make a profit or (!) I could calculate that I need to delight 150 people enough that they come three times per week and spend above average.
While it’s true that regulars make or break most businesses; it’s also about the story your telling.
The Washington Post thrives on loyal readers. The pop-up artist on Main Street, not so much.
The brand impression would crumble if all WP cared about was getting a new reader and the pop-up artist tried getting 100 people to travel everywhere she goes to buy more of her art.
The math you decide to do is important. Are you playing the numbers game or the loyalty game?
Stay Positive & Neither Is Wrong, But Not Knowing Which You’re Doing Is