How to Grow Your Business This Year Using Video
So you have a business and you want to grow fast. That’s understandable. Video might just be the fastest way to grow your business, but you’ve got to think this through. Not everyone can be PewDiePie or Gary V or Amy Schmittauer or Casey Neistat. The good news is you don’t have to be. In fact, it’s better if you aren’t.
Why? They’ve already been there and done that. They have their audience. You need your own honey kindgom to grow. There’s more good news. You don’t have to reach even a fraction of those YouTuber’s numbers to monetize your growth. Let’s
Let’s do a little math. Ugh! I know. I hate crunching numbers, but this will be short and painless, I promise.
Suppose you grow a small list of subscribers using videos that you create and distribute through YouTube, Vimeo, Facebook and Wistia. Let’s keep it small. Does 1000 seem reasonable?
This list is loyal though because you’ve been intentional about targeting your niché. Out of your 1k subscribers, you have a good chance of monetizing 10%. If you can create something valuable to offer your group, maybe a swipe file, workshop, or course, you can convert that traffic into real income. Look at the numbers.
MONETIZE YOUR LIST
- Swipe File — sold for $9 with a 10% conversion = $900
- Workshop — sold for $39 with 10% conversion = $3900
- Course — sold for $149 with 10% conversion = $14,900
A 10% conversion isn’t hard at all with a stellar niché and a solid offer. What if you did all three? That comes out to $19,700. Does that sound pretty good?
Keep reading for more on how this works. But first, grab this worksheet on finding and developing your target audience.
How Video Attracts
They say a picture is worth a thousand words (whoever they are). If that’s true, video is worth so much more. But why video is so important is the real question.
The average attention span in America is 8 seconds. That’s down from 12 seconds in the year 2000. We are just too busy, or too saturated with attention-grabbing information these days.
What we’ve learned through neurology about videos is that it’s just hugely more effective at teaching. The statistics vary, but a person reading retains about 9–14% of what they read. With a visual, that number jumps to about 68–83%.
Just think about your life in the past week. Did you look at Facebook? What caught your attention? Was it a big block of words? Or was it a catchy headline with a graphic? Maybe you watched that video of cat’s jumping out of their skin when they see a cucumber. Yeah, that’s me for the last one.
Video grabs our attention for two reasons: It’s easier to get the story than reading and the amount of information video can communicate quickly is much higher than words alone.
When it comes to using video to attract an audience, it’s a very simple process.
ATTRACTIONAL VIDEO CONTENT:
(doesn’t have to be all of these, but needs to be some of them)
- Tells a Story
- Highlights a Problem
- Uses Drama
- Is Rare or Unbelievable
- Evokes an Emotion
- Proves a Point
- Provides an Immediate Benefit
- Summarizes a Fear
- Shares Something Embarrassing
I could keep going, but you get the idea. Videos draw us in when they are intentional about finding what they target audience needs. You get a bonus multiplier in video if you can use more than one of the above on the list and do it in a very short amount of time.
How Video Retains
So it’s not hard to attract an audience with video if you’re just intentional about it. To build an audience, you need to do more than just attract people, though. You need some consistency, and it helps if you can promise more next time.
Every good television show follows this formula. They start with a unique situation. This compels you to watch while they introduce and develop characters. Then they shift your attention to a problem that doesn’t get completely solved. If they solved the problem, you wouldn’t come back for the next episode.
Video that retains does this too. You don’t have to end your videos with a cliffhanger. But you want to make sure your audience know that more of what they saw, more of what drew them in in the first place, will be coming soon.
Great video content provides a compelling reason to come back for more.
You don’t even have to promise more videos like the one someone watches. All you have to do is provide something recognizable and show that there’s more out there to see. Don’t tell me you’ve never wasted more than a couple of minutes browsing from video to video of that started with some random video that just caught your attention. That’s just not even believable.
How Video Converts
This is where the money meets the road (ahem, sorry (kind’a)). All of this work to build an audience is great, but this article is about growing your business with video. Two things will help you convert attention into money with videos.
Attracting attention isn’t enough. To make money with your videos, you have to build authority. That means answering some kind of question, solving some kind of problem or providing something valuable to your audience.
Authority for video is tricky. Because there are so many people out there making videos, your’s really needs to stand out. And IT HAS TO BE GOOD!
I can’t tell you how many people I see making videos that teach you how to make video (did you follow that?) and their videos suck. I’m sorry to say it, but if you’re teaching something and demonstrating your lack of skill in what your teaching, you have very little authority.
Confession: I really want to show you my list of people doing this. It’s almost comical. But I’m just not mean like that.
Your videos need to look and sound professional. They need to provide helpful content. That’s authority.
Conversion happens when you make a promise. You don’t have to use those words, btw. But some kind of suggestion that you’re life can be different is essential for conversion.
Don’t be cheezy and do what is so popular in marketing these days. Don’t promise to make someone a million dollars in a day or make them attractive to everyone. All you have to do is answer one question.
What does my target audience want?
This is an art and a science. Ask most people in business what they want. You’ll consistently get the same answer: To make more money. But ask then ask why. What will making more money do for them?
THE TRAIL OF MAKING MORE MONEY
- More Money
- More Resources
- More Growth
- More Money Again
- More Recognition
- More Self-Value
- More Freedom
- More Time to Do What You Want
- What Do You Want To Do?
When people chase “more” what they really want, almost always, is more freedom to do the things they really want to do (even if they have no idea what they really want to do). If you can find out what they really want to do, you’ll have done them and yourself a huge favor.
Providing the freedom from a more mentality is the real promise given in any conversion.
Even if it’s only one step closer to giving people that freedom, that promise is valuable. What if I can make your day just a little more productive so that you spend less time doing the work you dislike the most? Or what if I could just make that a little easier? How much would that be worth? Those are your minor conversions. Probably worth $9-$49.
If I could give you something that would dramatically increase your productivity, cut your workload in half or give you the means to get ahead of your competition, that’s worth even more. That’s a mid-level conversion. Moving more towards $99-$349.
The biggest conversion is the promise of a different kind of life. These are perspective changing offers that require heavy commitment. This is the difference between a middle-income 9 to 5 job and a higher income executive role. Or, even better, a job that’s more rewarding that also builds wealth. These offers are $1000 and up. For example, Tony Robbins’ Date With Destiny conference charges $4495. Thousands of people have paid the price. Is it worth it? The feedback from attendees is almost overwhelmingly yes.
Making It Happen
So how do you feel about growing your business with video? Are you ready to jump in? I recommend making a date now with your favorite beverage to sit down and plan your video campaign. Don’t forget that free worksheet for Finding and Developing Your Target Audience.
If you’re convinced that video is something you want to try (you should, it’s going to be the fastest growing platform in 2017), you might be ready, but not able right now. Maybe you need some help.
If money is your obstacle, take a look at Video Packages For Beginners That Won’t Break The Bank.
Maybe you’ve got the equipment but need a little know-how. Sign up for my upcoming course on how to make professional videos the easy way (at the bottom of the page).
You might be struggling with the biggest hurdle for videos — planning awesome content. Sign up for updates. It’s coming.
Let me end this post by reminding you of this.
Nothing happens without a catalyst.
If you’re struggling with motivation, focus on what you want to change in your life.