Updated: Dec 3, 2020
Do you know what a marketing assset is? Simply put it is anything that you can use to reach your customers. So your website, your email list, your social media are all marketing assets.
You may have heard disturbing stories of brands who have experienced their social media accounts being hacked. If the account is only one of their marketing assets that is bad enough, but what if it is their only way of communicating with their customers? For some small businesses this is the reality of life.
My advice on this is very simple. Don't put all your eggs in one basket with regards to social media or apps. You must develop multiple ways to market to your customers or risk losing them.
Image Katie Bernotsky - Unsplash
If you don't own it, you don't control it
Recently there have been many developments affecting small business owners. Twitter experienced a major hack Hoop an important children's activity App disappeared altogether, destroying thousands of hard won reviews for small business owners. The latter caused by lack of revenue linked with Covid 19. With all this in mind we must remember to develop our own 'owned properties' or risk losing the hard won options we have for talking to our customers.
What is an owned asset? Marketing assets that are important to develop include your own website and email list. I am a great fan of social media but be aware that any of tools you use, from Facebook to Instagram, do not really belong to us, we are not the target market, and these businesses could switch their revenue models tomorrow and charge us all a 'pitch' fee to use our accounts.
Look after your business marketing assets, diversify and keep watching the headlines for what may happen next that you need to react to.
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Shona Chambers Marketing is a Marketing Agency based in SE London.
Specialising in helping Small Business Owners and Freelancers with their Marketing.