Wednesday, February 21, 2018

Will The “Oprah Effect” Make You Rich?

I recently received an email from a client who hired me to produce a series of videos she’s now selling. She excitedly reported that she had submitted a query to do an article for a national magazine. She quipped, “I figure that if I get an article in there, we sell about 400,000 [videos] and we’ll all live happily ever after!” Well, I wish it was as easy as that! If it were, I would be retired right now, sipping Pina Coladas on a beach somewhere.

She wrote that tongue in check of course, but too many people sincerely believe that such an event is the key to successfully selling their videos. Like many feel that the only way a regular Joe can become a millionaire is to win the lottery. True, getting national exposure is a powerful thing, and publicity is really important to your business, but that’s no guarantee of overnight success. And even if it does give you a sudden bump of sales, you need to take that exposure and build on it to even make a good income.

You’ve probably heard about the Oprah effect and how a simple endorsement from her will have you making millions in no time. The reality is that even with a public endorsement by Oprah, it’s up to you carry the ball and make your success happen.

Granted, getting an article in a big magazine does increase your exposure to tens of thousands, maybe hundreds of thousands of people, there’s no denying that. But there is no guarantee that you’ll magically trigger your own Oprah effect and “sell 400,000 and live happily ever after.” Ask the  local cafe owner in our town who was on the brink of closing a few years ago when Oprah discovered her sandwich and proclaimed it her favorite. The restaurant was saved but within a year the owner was still running it herself, feeling even more overwhelmed by the increased business and ended up selling the cafe anyway. She did make some money but by no means became rich by selling her sandwiches.

Now the new cafe owners take advantage of the Oprah effect, use it in their marketing and have a steady business. A few years ago, they opened another cafe. They are on track to success because they have kept up the momentum of the exposure.

So, is it possible to produce a video, get the right exposure and make millions? Yes, just look at Julie Clark with her Baby Einstein videos. Is it likely to happen to you? Honestly, probably not. However, success WILL happen if you discover your target market, figure out what they need, produce it in the right format, and then consistently market to them so they are aware of your product and how it will benefit them.

Back to my friend. Well, she hasn’t heard word from the magazine. So should she give up? Of course not; she just needs to be realistic in how she goes about it. We reminded her that she had at her disposal the ability to reach a much larger audience, in fact a worldwide audience, through consistently writing articles, capturing her readers contact information in her marketing funnel (autoresponder) and steadily marketing to them through her blog. The same is true for you.

No, it isn’t as exciting as landing an article in ‘O’ magazine, it requires more time and work but your chance of success is much higher. Slow and steady wins the race and is the best way we’ve found to make money selling your videos.

In next week’s post, I’ll talk about the type of exposure you want. Not all exposure is equally beneficial to your video sales.

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