Using Online Video to Drive Profit
So you keep hearing about all this money that is being made by online video, but you are pretty sure that you don't have the skills to pull off making a full length motion picture that will be carried by the likes of Netflix and Amazon?
Fear not….you can still make a buck for your business using online video.
Elastic Path, a digital marketing strategy firm found that 84% of respondents will never pay for user-generated content. So what is a business owner with a dream a digital profits supposed to do?
Simple, use video as a tool to drive profits via sales of goods, just like, well, good old fashion television commercials, but at a fraction of the cost. Here are some things your can do with online video and your business.
Build your mailing list
Building a sales funnel cost money, and properly used, video helps you spend as little as possible in the process. Throw your video up on a properly constructed landing page and encourage people to sign up in order to learn more about your product offerings. This is especially useful if your company is new and doesn’t have a lot of brand awareness.
Put a coupon in the video
Or use the video to explain to people who they can get a value added bonus from your company. Maybe some advanced training, an add-on software module or spare cables.
Get customers to mail it in
Ask customers to submit pictures and videos of them using your product in action or suggestions for improvement. In technical fields, people love showing off their product hacks, engineering knowledge and creativity, so give them an outlet for doing so. Find out who has jury-rigged an oscilloscope to control their home stereo equipment and kitchen appliances. I know, it’s silly, but you want to really go out and engage people.
For added encouragement, throw in a value added bonus on their next purchase in return for the submission. This is a great way to build a niche community for your products.
Get all Socratic with your prospects and teach them something
OK, so you may not be using the Socratic method in order to educate your prospects and customers about your offerings, but every business has an educational side to it.
In the electronics business, you could explain your product development cycle to your customers or suggest innovate ways your products can be employed (maybe something like "Did you know that old printed circuit boards make great drink coasters?").
As a cautionary note, don’t just turn on your web cam and start talking into it. The proper use of online video requires a bit of planning and experience. Failure to focus on the planning stage will have you looking more like an awkward Grade 5 science geek than the electronics professional you are.
Josh Kerbel is Managing Director of Sales Funnel, a digital marketing agency that specializes in lead generation and prospect management systems. To get a copy of the free white paper, 8 Steps to Internet Marketing Success, please send an email to firstname.lastname@example.org