I don't know what kind of business you're in, but in the middle of a pandemic, businesses have been deemed either essential or non-essential. Essential generally means something to do with keeping people's lives sustained. Essential businesses include transportation, medical, food, and banking.
My wife works for a bank, but one of the things that they had to do is close the lobby. They don't want people walking in. To get into the lobby, you have to make an appointment, but they're even skittish about that. The drive-up is open and so is the ATM.
Whether you're in an essential business or not an essential business, you have something essential in your business – your bank. What do I mean by your bank? Well, your website is like taking your brain to the bank.
What do banks do? Banks are businesses that use money deposited to make money by loaning it to others and charging interest. It's not the best investment for the depositors who try putting money in to grow it. Especially not at today's rates.
Right now the Fed has a 0% interest rate and banks are paying out about 0.5% on CDs. That's less than 1% and it's the same on savings accounts. You're not going to make a lot of money by putting it in a bank. The one thing a bank does do well is protecting your money. The way it protects your money is through the FDIC. The federal government insures your assets inside of a bank up to $250,000. It would be really nice to have that much in there. But if the bank ever went insolvent, your money is guaranteed. That's what a bank does, it protects you, your business, and the assets that you put in there.
Your website is like a bank. It's a place for you to deposit your content marketing assets. It's not guaranteed by the federal government, it's guaranteed by you. I want to share with you five things that you can do by taking your brainpower and putting it in the bank.
Bank Your Content
How is your website like a bank? When you put content on your website, it's yours. That's not necessarily the case when you simply post your ideas or content to social media.
Let's say you write a bunch of content and you share it on social media. Let's say you put it up on LinkedIn or Facebook without putting it on your website first. It sounds logical and easy. People may even convince you that you don't need a website, but I've actually seen businesses go bankrupt doing that. One particular business ran its entire business based on a Facebook page and it was taking most of its orders on there. Somehow, they broke one of the terms and conditions that Facebook had, and Facebook took the page down. Their business immediately dried up.
They had to fire over a hundred people and the company went bankrupt. You have to understand, although it seems like a good idea because it's free, it's not something that you own or control. It's not a safe place for your content. How do you make it safe? You put it on your website.
Your website is something that you own. This is one of the reasons why you don't want to use one of those free website tools out there. The same thing can happen. If you're not paying for it, you don't own it. You want to make sure that you're using a web hosting company that you pay. Make sure that somebody in your business is paying the bills and not a third party (company or consultant). You want to make sure it's on your credit card so you control it. Your domain is important, too. My blog and podcast websites are b2b-im.com and baconpodcast.com. This is where I bank most of my content. I own those and if I don't pay my bill, they may give me a little bit of a grace period, but ultimately they can turn around and sell it to somebody else.
If you lose control of your domain, you might have to pay somebody hundreds, even thousands of dollars to get it back (I have seen that happen). It behooves you to make sure that your domains are being paid for on your credit card and not a third party's credit card. Make sure that you own it.
The FDIC insures your money in the bank, but you need to insure your own money invested in your website bank. How do you do that? Well, by making sure that your website is maintained. It's your job to ensure that the software is up to date, the plugins are current (especially if you have any subscription or paid for plugins), and that your theme is up to date. Make sure that everything is being maintained. You can either have staff do it or do it yourself, or you can pay somebody to monitor and maintain it, but make sure that you're insuring the ability for your website to continue to promote your content.
Invest In It
The next thing that you have to do is invest in it. How do you invest in it? With assets. The assets that you invest into your website bank are in the form of content. As you create blogs, podcasts, no matter what kind of content you create, you want to make sure that it's deposited on your website. The same thing goes with your videos. Make sure that you're not just using a free service like YouTube. Make sure you're using a paid service like Vimeo because you control it. Free content can be taken down without you knowing and it can't be taken away from you.
Start to formulate stuff out of your brain and invest it by depositing it onto your website in the form of content. That content sitting on your website is all well and fine, but only if people find your website and consume it. You want to also find ways to give it away. So there is one final thing you will want to do.
I want you to become a philanthropist. I want you to share your content with the world. Take the wealth of knowledge that you have accumulated and share it. How do you share it? In the form of links. Those links can be posted on social media. You can post a link to your blog on Facebook. Or, you can post a link to your video on LinkedIn. You can use those links to drive traffic back to your website. That's how you become a philanthropist.
You take your knowledge and share it all across the web. Keep in mind that original content on social media gets shared a little better than links back to your site, but original content on your own website is still the best investment that you can make. If you have the desire and the budget, you can always go on social media and sponsor that post.
You can pay to have them share it more often with an audience on LinkedIn or Facebook and Google, but the bottom line is you have to pay for that. One of the biggest advantages to having your content on your website is that you can drive people to the pages with specific answers to the questions that they have. Either way, you're going to drive traffic back to your homepage or specific pages and posts.
You can control how the world gets to your website by sharing that content into the social media world.
I want to leave you with a final thought. Yes, your website is a bank. In the case of where my wife works, the lobby is currently closed. You may not have people just walking into your business lobby (if you have a physical location), but you can treat your website like a drive-up window and an ATM,
You'll want to look at it more like a drive-up window because that's where you build or maintain relationships. My wife gets to say, “Hi.” to all the customers who can currently only do business with the bank from their cars. That gives her and the other employees the chance to maintain those coveted business relationships. They don't get that chance when customers deposit or withdraw from the ATM. Make sure you're finding a way to communicate with clients or prospects by using your content to build relationships.
I would love to hear your thoughts on this. Comment below and share your thoughts, ideas or questions about using your website like a bank for content. Have you had to overcome any of the presented concepts? What worked and what did not live up to your expectations? Do you have any ideas or advice you could share?
To learn more about this and other topics on Internet Marketing, visit our podcast website at http://www.baconpodcast.com/podcasts/