Is social media needed to build a successful business?
Mar 7, 2023
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Tim Stoddart and Ethan Brooks discuss the role of social media in business success, emphasizing effective storytelling and leveraging platforms like TikTok for viral reach. They contrast product quality with flashy business models and explore the impact of social media on companies like Sriracha and Chipotle. The conversation also delves into the success of Uproot Clean in marketing a pet hair remover product through viral social media content and brand loyalty.
90% of time on sales, 30% growth resources on social media for long-term success.
Approach social media strategically as a storytelling tool with significant return potential in the future.
Deep dives
Building a Successful Business through Social Media vs Traditional Sales Channels
Spending 90% of your time on sales and 30% of growth resources on social media is key. While traditional sales channels like farmer's markets can offer immediate revenue, investing in social media for storytelling and brand building can lead to long-term success.
Utilizing Social Media as an Investment for Future Growth
Approaching social media like investing, allocating resources to build a presence and engage with audiences strategically. Viewing social media as a tool for storytelling and audience interaction, with the potential for significant returns in the future.
Balancing Social Media Engagement with Direct Sales Efforts
Acknowledging the importance of direct sales efforts in building a business, with social media serving as a supplementary tool for amplifying brand reach and storytelling. Finding a balance where direct sales remain a priority.
On this episode, Tim Stoddart (@timstodz) and Ethan Brooks (@damn _ethan) go head-to-head on what they think it takes to build a successful business. How necessary is social media when it comes to building a successful business?