Subsequently, we have laid the foundation of Online Commerce, if you missed it click here. In the previous lesson, we affirmed that no matter your profession, you are actually meant to meet someone’s needs and that this is true in the physical world as well as in the virtual world. We have also stated that many business people miss it at this point because they have the mindset of meeting their own needs and that most of the time this attitude is visible to prospective clients. We have learnt that this attitude is counterproductive because the truth is that everyone is always looking for who will help solve one problem or the other for them and not the other way round. Having established this point in the Facebook example let us see this at work on Google and Youtube.
The Google example
Like Facebook, another perfect example of a multi-million online business set up on the premise of meeting needs instead of the other way round is Google and YouTube. When Google started out 22 years ago many also wondered back then how the Sponsors of Google would make a profit because there were no visible means of making money from the enquirers who come on the platform to search for information. The ability of any enquirer to search for just about anything on the platform came free of any charge. The owners of Google could have put a price tag on this powerful and seemingly magical ability but they didn’t for the same reasons Facebook did not put a price tag for users. They understand that the high traffic that comes from usage is a much more powerful asset than what they could have billed the users.
The YouTube example
The same owners of Google own YouTube so they needed no one to preach to them about rendering the service of giving subscribers unlimited space to upload their videos free of any charge at present or in the future. Imagine how much YouTube spends on acquiring virtual storage space that can accommodate so much. Now YouTube is reaping the reward as the billions that come from advertisers daily is covering the cost of operation with mind-blowing profits.
In building your online wealth follow the Facebook, Google and Youtube examples and you will not fail.
How You Can Adopt This Model for Your Business
To adopt this online business model of meeting needs for yourself is very easy today because Social Media and Search Engine platforms like Facebook, Google and YouTube have created the framework for this for any business that wishes to adopt the model. This is because all these platforms are based on user-generated content. For example, Google cannot work without website publishers providing solutions or information that anyone can access for free. Same with YouTube and indeed, Twitter, Instagram etc. All you have to do is to be committed to providing useful content and solutions free for many to access. When you do this regularly in line with their rules (this is called, Search Engine Optimisation). these Search Engines (Google, Bing and Yahoo Search and YouTube) will begin direct traffic-free to your website or YouTube channel. When this traffic is heavy enough, then they could be easily converted to money in a couple of ways. If your website is an eCommerce store many will buy your products and if it is a serviced-based website they will pay for your services easily.
In this series, I am teaching you how to properly use the internet and maximize it in building an enduring wealth for yourself no matter your profession and industry. Just keep following these teachings.
Jerry is the Chief Consultant/ CEO, Alive Destiny Media and its subsidiaries. He is a Brand/ Digital Strategist helping Organisations and brands navigate the murky waters of Brand Communication and Digital Marketing, creating a dominant market and online presence that gets the result.