How to Reduce Dependency on Third-Party Platforms

Third party platforms have become the ‘go to arena’ for companies, small or large, to connect with various customers. As these platforms continue to drive innovative way of connecting to customers, businesses are becoming entangled with them.

While this innovation offers opportunities to grow and manage your community of audiences, entirely depending on any of the online platforms comes with high risks. But the adoption of a multichannel strategy mitigates the risks associated with third-party channels dependency.

Without any doubt, building a community of customers on the social platforms is a good idea. However, it comes with its risks as alluded to earlier. So, in this article, I will take you through the list of possible risks you may face depending on third-party platforms for building leads.

What are the associated risks?

One of the best strategies for attracting target customers is seeking them on different community platforms on the web where they mingle. As a business owner, it makes your work less difficult if you find where your customers are based online.

And if indeed you find the right platforms, all you need to do is build your business presence there and watch your potential customers in action. While this represents a great way of connecting with the customers online, it also comes with a big risk. Being prudent is one way of avoiding serious damage from unexpected shock.

To make you understand how dangerous it is to lean on other platforms here are some possible risks you could face when depending on them:

  • Unexpected termination of your account: Building a large community of audience on any social platform takes time and enormous investment. Your account can be terminated instantaneously should you violate the terms and condition stipulated.

The risks associated with third-party platforms are not limited to the ones listed above. In case your revenue stream is connected to one channel which is not controlled by you, then it is appropriate to diversify or build your business platform.

How to solve the third-party dependency problem

What could be more fulfilling than having total control of your activities on the web? Imagine investing a large sum of money in building an audience on the third-party website. Then comes a change to their policy, and this change significantly drags up your expenses. What would you do? Comply or leave?

Logically, you will comply in order to avoid losing everything you have built. And this puts your business in an awkward position, except you find a way to make up for the additional cost.

Without absolute reliance on other platforms, use these recommended solutions to strengthen your presence online. It will help you avoid the risks of a negative effect on your business.

  • Use e-mail lists: As more clients or customers get to trust your business, put them on a list. Then use the list to share updates about your business, just as you will do on social media, directly into their inboxes. You can set up a list using an e-mail tool available.

This strategy works, and it works perfectly well if you understand how to craft that compelling story. Business owners have been doing so over the years. You can do the same. What it will cost, in addition to money, is time and effort.

Conclusion

As digitalisation of companies increases so will competition. For this, the competition will push third-party platforms to make some policy changes that may impact your business negatively. There are no easy solutions to independence on the web apart from creating your own space.

All in all, never depend on third-party platforms for your business leads generation. If it is unavoidable due to your business sector, have a backup platform where you have absolute control. In short, it is highly recommended not to put all your eggs in one basket.

If you want to take control of your contents and have less dependency on the third-party platforms, contact me today to learn more.

Online Marketing Specialist