Time is just as valuable as money;
getting your audiences to pay attention!
When we first started with the internet we only cared about people getting to a website or service. Now that time is a factor we care about how people are using our websites or services and less about how many people get there. What you really want as an entrepreneur is to get the right people what they need so they remain invested. Engagement value is the long-term relationship you can form with your target audience.
There are several sayings in life and in business, however the one that stands out and is becoming more prominent is the value of time. The saying "time is money," has never been more true. Everything people do in life involves time and money at most points; you go to college, purchase a home, raising kids, etc. Each of these examples involves money and time respectfully, however the one aspect that is not always understood is the engagement value of these experiences. We go to college and invest in an education in hopes of obtaining a good job. The same can go for a home purchase and raising kids, you are investing in a future reward that is not completely certain.
Businesses large or small utilizes the same concept. A business owner is investing in their dream, but in reality they are investing in the consumer. For example, if I run an online magazine subscription service, I am investing in the consumer pool of people who like online subscriptions. However, if I utilize more time and narrow my target I can maximize my return. One instance would be a business starting an online magazine subscription service for high school and college students interested in business or entrepreneurship. The investment of my added time and focus allows my return to be immediately realized. Once the subscriptions start rolling in and I have 80% of college and high school students, I see the success of my investment however; if a majority of my subscriptions are business professionals 35 and older, I may need to redefine my strategy to understand how to refocus the business goals to reach my target audience.
In today's fast-paced society, time is more valuable than money to people. Taking the time to understand your users or consumers will allow you to craft a commodity that is worthy of your audience's time. I view my services and products like a comedian, I have to keep you laughing or my time is up. If I prepare for my show and learn from the feedback my audience is giving, then I can sell out future shows.
James Terry IV
I am a Solutions Architect and Web Developer that loves to find the why in all aspects of life. Understanding what you are doing and why is the key to perfection in what you do!