Sunday, October 22, 2017

Make More Money With Your Videos By Adding Other People’s Products

November 21, 2013 by  
Filed under All Posts, Special Interest Video Biz

Make Money FistThe bottom line with any business is to make a profit, and we shared how you can make more money with your existing video products. Today I’m talking about another strategy…

Adding Other People’s Products To Increase Profits

As a bit of a recap…our business model consists of building lots of little streams of income, all feeding into a mighty river. This not only consists of producing more products to sell to new niche markets, it also includes giving your current customers new products they want. Your goal is to keep the relationship alive with your customers.

While producing additional videos along the same subject line is a great way to do this, pursuing other methods will give you additional products quickly and at little or no cost to you. So if you don’t yet have another video produced to sell, it’s a good idea to begin thinking about offering other related products they would find beneficial, and the sooner the better.

While it’s more profitable when you own your own products, there are many ways to add products to your inventory immediately without creating them yourself. Adding books from some place like Amazon.com and promoting related affiliate products will also increase your profit potential.

Years ago when I was selling horticulture videos I tried adding a line of horticulture books from Ortho and we sold thousands of them. It made us a better resource to our customers and provided a healthy boost to our profits.

Other great affiliate programs you can sign up with are Clickbank, Commission Junction, Linkshare and ShareASale.

Do some digging into the products you buy and use that are related to your video topic and see if you can become an affiliate with them. That’s how we became affiliates with our favorite camera store, B&H.

Next week it’s all about the internet and how it’s changed business as we know it.

Want to Make More Money? Expand Your Existing Product Line

BooksAfter checking out the two profit making scenarios – the “Low Price, High Volume” and the “High Price, Low Volume” models – I shared in the previous two posts, do you see the financial potential in producing and selling your videos?

Today I’m tell you how to further increase your profit potential in this business.

Expand Your Existing Products

Now bear in mind the two scenarios I shared were based on selling just DVDs. But you don’t want to stop there to make this a stronger business. Why?

Let’s assume that you have finished your special interest video, it’s available for sale and someone buys it. Yay! Good for you. So you just have to find more customers, rinse and repeat and your fortune’s made, right?

Wrong! Obviously, one of the key goals in marketing and being successful in this business is to get a lot of those “someones” buying your video! But even if you get thousands of happy customers, to truly be successful you have to do more.

Unless you have other products to sell your new customer, your relationship is over with that single transaction. You’ll be spending a lot of effort converting them to a customer and getting them to trust you enough to fork over their money. Once they make a purchase decision it’s the best time to hit them with an offer for something else related to what they just bought. That is often called an upsale. If you don’t have anything else to offer, now or in the near future, you’ll probably never hear from that customer again. So what should you do if you just have a single video title?

There are ways to turn a single video into additional products. For example:

  • You can strip the audio out and sell it as an MP3 or an audio CD.
  • You can transcribe the audio into text and create an eBook. This works especially well with instructional videos. With the booming popularity of ebook readers, this can be a nice source of additional income at almost no cost to you. You can also offer this as an added bonus, an incentive to make a purchase within a limited time frame.
  • Break your video into individual modules and sell them separately.

Ideally you want to develop multiple titles on a topic and plan for this before you start video production. Not only can you bundle them together to get a higher price, it’s also better to have six 20 minute videos for sale on a topic than one 120 minute video. Maybe a customer will buy them one at a time over a period of weeks or months. This could be the beginning of a membership program.

But you don’t have to just sell your own products. Next week we’ll cover adding other people’s products to the equation.

Marketing Your Video Business With a Preview DVD

November 8, 2013 by  
Filed under All Posts, Marketing, Video Marketing

Over the last few weeks, I’ve shared a few ideas for marketing your videos and/or your video business through producing promotional videos. We’ve covered producing commercials that you can run on tv (and the web), creating infomercials (a couple of minutes to a half hour long) that you can air, and making promotional DVDs that you can give out like candy! The 4th idea I want to share is what I call the preview DVD. I’m not talking about doing a snippet of your video product or even a trailer and putting that on a DVD.

Watch this short video to see what I mean.

In addition to that you’ll discover:

How this works

  • What markets this works well in…it’s what we have done ourselves
  • What to expect when sending a preview DVD out
  • Why doing this can be very effective and a great investment.

(If you can’t view this video on this page, you can watch it here on YouTube.)

There you have it…4 types of promotional videos you can do besides putting marketing videos on the web.

What exactly makes a promotional video a marketing tool? Next week we’ll answer that question.

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