When I was growing up as an only child my parents worried about me a lot. I lived in a bubble, protected from the evil and insidious world. The fear was unhealthy. But everything changed when I was four and my brother was born. All of a sudden the fear almost disappeared… Because if anything were to happen to me, they would still have my brother. This is risk diversity.
Are you relying primarily on one channel? Then you probably don’t sleep very well at night. Especially if it is Facebook. Many companies learned in this quarter what it feels like to lose one of their main sources of customers. Facebook was blocking ad accounts and business managers like crazy. If you appeal, you wait about two or three weeks to receive an apology for an unjustified blockage. If your page does not have a dedicated account manager, it is almost impossible to urge and escalate the issue.
But it’s not only Facebook. Google can change its rules practically overnight, which may affect your segment. This happened to cryptocurrencies. Or are you experiencing drops in organic reach after an update? Nothing unusual.
How to remove the risks?
You need to learn to live with these risks – you will never eliminate all of them. But you can minimize them. One of the medium-term goals should certainly be diversification of acquisition channels.
And do you know how to best steer clear of these challenges? Build a brand. No one will ever take direct visitors away from you. Do not rely on third-party platforms. Be a platform! The price of advertising will always only go up. If you need to pay others to drive visitors to your site, you are dangerously dependent.
Do not underestimate situation analysis – it can reveal a lot. When your analysis is finished, do not leave it in a drawer. Create a development plan based on it, stick to it and you win!