5 Advanced Strategies To Start Monetizing Periscope — Social Media Marketing Blog
Hi its Gary O’Toole here with Sociocaster! I have talked about Twitter’s awesome live streaming APP, Periscope in several past blog posts. In the previous posts I introduced Periscope and explained why you need to be using it, how you can integrate it into your existing digital marketing plan and gave you some basic strategies to get you off to a great start.
If you have read the previous post on Periscope feel free to skip to the 5 strategies — however for the benefits of those who have not had a chance to read that post, all will be revealed below!
So What Is Live Streaming?
Live video streaming (or live streaming) is exactly what it says it is — simply video that is being streamed live in real time! Private video streaming via webcam has been around for quite a while — Skype, Ovoo and other services like that are all live video streaming. Broadcast streaming via webcam has been around for a few years as well in the form of Ustream and other similar services.
What Is Periscope All About?
Ok so this is nothing new or is it? Well Periscope is different — its a live video streaming APP that allows you stream from your phone or tablet. There is another APP that came first called Meerkat — which did have a respectable level of success and popularity but it was not until Twitter’s Periscope emerged just under 1 year ago, back in 2015 that mobile live streaming really caught on!
These days every business is its own media company and live video streaming is comparable to having your own television studio — with the incredible benefit of being able to reach millions without investing millions! All you need to get started is an Android or iOS phone with Periscope installed.
The best way to understand this amazing tool is just to download the app , load it up and start shooting some video — you can broadcast your message to millions and interact with your viewers in real time!
Load up the Periscope APP and you will find that you’re presented with a map of the world . On this map are various pins where you can see people who are currently broadcasting video. Simply click on the oin on the map and the name of the broadcaster and then you can tune in to start watching what they are streaming.
Once your inside someones broadcast you can:
- Comment On The Video
- Ask Questions
- Interact With Other Viewers
- Follow The Broadcaster
- Leave To Watch Something Else
If you have not yet downloaded the APP — I strongly urge you to do so and learn what is so exciting about live video streaming! I remember when I first started experimenting with Periscope last year — I was immediately hooked and would often watch it last thing at night and every morning for a couple of weeks.
It is a totally different experience to any other form of social media. When you are inside a broadcast — it feels quite voyeuristic as you are getting a direct and uncut window into peoples lives. It truly is incredible that I can be in London watching a live broadcast from someone driving around in a small town in California and be greeted by name by the broadcaster.
Over time when you start following individual broadcasters you will notice that you start to see a lot of the same the people in the broadcast and start to feel like you are really getting to know the broadcasters! Being able to build up these relationships gives us an incredible tool for tapping into a passionate highly targeted audience who we can bring into our sales funnel and ultimately sell to!
What Are Some Examples Of Things People Broadcast?
So now I am going to give some insight to what people are currently broadcasting via periscope:
- Two People Chatting
- Lying On The Bed, Talking To The Camera
- Recipe Cook ‘A’ Long
- Individuals Speaking Randomly
- Reading Excerpts From Books
- Day To Day Lives
- Television presenters using Periscope to add more value
- Experts Providing Tutorials/Talks
- Live Lectures/Talks
- Behind The Scenes
- How Its Made
Do I Need Any Special Equipment?
You can start broadcasting straight away using any Android or iOS phone/tablet that supports Periscope! However previously I did compile a list of equipment which will let you broadcast in slightly higher quality! You can check that out here.
Where Is This All Heading And Why Should I Care?
Live streaming is what I refer to as a “Future Technology” meaning that it is something that we need to invest our time in now, to understand it and to build an audience and learn how to use it to its maximum potentional. At present Periscope is the most popular streaming APP but even so it does not have that much content compared to other social media platforms.
If you logged in right now, you would see there are a few hundred broadcasting content in the US. That might sound like a lot but that is not a lot compared YouTube where there are thousands of hours of content being uploaded daily.
The most exciting thing about Periscope is that you can play an active role in the growth and progression of this incredibly exciting platform! You have the ability for your message to potentially reach millions of interested people all over the world — at any time of day and night!
If your struggling to comprehend that live video marketing can ever be a powerful marketing tool, then think about what happen if there major world event that was being reported by both the conventional news channels and also by live streaming, can you imagine how much difference it would make to see what was actually happening from the prospective of someone who was actually there as it happened?
If you live in any kind of democratic country you will be aware that news outlets cut and edit, footage to suit their political stance and that what see on TV is not really representative of what is actually happening in the world. OK this is an extreme example but I am just trying to illustrate how influential live streaming can be.
Video sales letters are great as they can sell your product on auto pilot 24/7 — that is pretty much what everyone who ever sold anything online aspires to right? Live streaming does require more effort as you will actually having to be doing your presentation live on air, but you can actually engage with your audience in real time,answer any questions and remove any obstacles that are standing in the way of them making a purchase! Tell me now you can not see the power of live video streaming- its quick, its easy and its effective!
Lets now take a look at 5 advanced strategies to monetize Periscope!
1.) Start With A Elevator Pitch
An elevator pitch is a very short summary of your business idea, product or project plan that you would convey to a potential client or investor in an attempt to gain their support. Its called an elevator pitch because it is supposed to be short enough to gone through in a short space of time (from top floor to ground floor in an elevator).
A READY TO GO INTRODUCTION
Having this elevator pitch prepared can take a great deal of stress out of networking and is something that you can spend time rehearsing so it rolls of the tongue with the greatest of ease! Having a stock introduction like this, that you have rehearsed countless times — will make it easy for people to understand:
- Who You Are
- Who You Represent
- What You Do
- How Connecting With You Will Help Benefit Them
2.) End Every Broadcast With A Solid Call To Action
Just as its important to begin each broadcast with a focused elevator pitch — its crucial that we end each broadcast with a solid CTA (call to action). To be clear a call to action is an instruction to your audience to perform an action that requires an immediate response. Here are some examples:
- Click This Button
- Go To This Website
- Sign Up Now
- Download This Guide
You see CTA’s all day every day and with good reason, there is no point doing these broadcasts and building an audience if you are not going to be able to drive them into your sales funnel! Periscope is a great tool for driving traffic to our Twitter/Website presence and below I provide you with a few templates to give you some ideas on how you can add a CTA to achieve this aim to your broadcast:
Drive Traffic To Twitter: “If you have enjoyed this broadcast, please join me on twitter and tweet me your comments and ask any other questions via DM, I’d love to respond and engage with you guuys — follow me @[Your Handle”
Drive Traffic To Website: “If you found the tips I have shared today useful and your interested in working with us 1 on 1 then head over to our website [Insert Your website] and sign up now! We currently have space for 3 more clients this quarter”
Drive Traffic To Sales/Landing/Squeeze page: “If you enjoyed the content of this broadcast check out my new book [Insert Title] on Amazon where I cover the topics I discussed here in a lot more detail and provide you with a step by step plan to enable you to reach your goals rapidly”
Generate Blog Traffic: “If you found todays tips useful please head over to [Insert Your Blog Here] for more Facebook advertising and social media tips…”
Its pretty simple stuff — but its powerful stuff too! If you do not resolve your broadcasts with a definitive ending and call to action your letting so much traffic and opportunity to connect with your audience further, simply slip through your hands.
3.)Grow Your Social Media Accounts
One of your main objectives when running a Periscope campaign should be to organically grow your social media following across other platforms. In a sense this follows from the last point on having an effective CTA at the end of each broadcast.
One thing that really resonates with people is the personal touch — I would recommend asking people to “Join” you on Twitter and then to tweet you! Once people have tweeted you,you can personally send them a download via DM to a cheat sheet/template/cheat sheet/coupon.
There are ways to automate this whole process (such as using crowd fire to send a DM when someone follows) but I think taking the time to do it manually and sending each follower a personalized message, enables you to cultivate a much more personal and exclusive community based vibe.
In most cases you will find that people are much more engaged and loyal when you engage with them as individuals and not just another follower.
You Can apply this to any platform
There is no shortcut to succeeding with this but if you remain consistent you will definitely start to build the community you need to truly succeed in the long term.
The added bonus is here the more people that follow your other accounts on social media the more people you can notify each time you do a broadcast!
4.) Run Regular Q&A Sessions Via Periscope
Its commonly accepted in the industry that the number one kind of broadcast you can do on Periscope to build authority is run regular Q&A (Question And Answer Sessions). Q&A Sessions allow you to literally build authority on the spot and authority equals sales — people want to buy products and services from people they perceive as experts! Here are some of the reasons that make a Q&A such a great broadcast to run:
- Builds Authority Instantly
- Viewers Have The Chance To Answer All Questions
- Creates Strong Rapport With Individual Viewers
- Being Able To Answer Questions Instantly Demonstrates Expert Status
It does not have to be formal — but you should make every effort to take it seriously and reward the people who give you their attention with a high quality answer to their questions! Ignore the trolls,they are just the modern days equivalent of someone who thinks it is funny to gate crash a live news broadcast, if you ignore them they will go away, if you want you can always block them!
#ASKGARYVEE — Gary Vaynerchuk Is The Master Of The Q&A Session
Personally I recommend running one of these events for about 20 minutes once a week — keep doing it consistently and you will see that you start to build up authority and a loyal audience who turn to you to answer their questions. Its a really useful tool to have in your box and on top of all that — it is great for your confidence, the more you do it the more confident you become at answering questions on the spot, which translates into real world confidence and will make you a much better in person networker!!!
5.) How To Monetize Your Periscope
Lets be clear here, your goal on Periscope is not to jump on camera and talk about you and your product non stop — this is not QVC or any other teleshopping channel. That is not going to make you any money — all that is will achieve is the few people who were watching you, will leave the broadcast and you will be broadcasting to no one with zero chance of making any money.
Your goal on Periscope is simple — to educate people on your niche for free and build authority — you will then use this authority and influence to send them to another place on the web where they will have the opportunity to purchase one of your products or services.
Here are a list of example destinations you could send your viewers:
- Your Blog
- A Landing Page
- An Optin Page
- Your Shopify Store
You should be aiming to get people to opt in to your email list as this brings them into your sales funnel and presents you with multiple chances to pitch and sell before they either buy or unsubscribe. Email is still the most effective form of marketing so do not underestimate this.
If your not sure what a sales funnel is — now is the time to learn, once you understand what a sales funnel is and how it works — you will understand how powerful Periscope truly is and how social media really is an awesome source of highly targeted traffic, that if captured in the right way can drive a huge amount of sales and create the long term repeat customers you need to build a sustainable business.
Check out the diagram below to see how fast this platform is growing! If you need to find out how a Q&A should be run check out Gary Vaynerchuk — he is the master of not only social media in general but specifically live Q&A — he is not slick or clean in his presentation but he always presents massive value (most of the time) and I have only seen him falter on a handful of questions out of hundreds — He is not everyones cup of tea but I highly recommend following him!
I hope you found this post useful — I will back on Wednesday with another in depth post!
Until then have a great week!
Originally published at blog.sociocaster.com on March 21, 2016.