If you aren’t getting enough customers in the door for your business, it might be time to try a new marketing strategy. Tapping into the growing trend of video is a great place to start. YouTube is the second largest website on the internet by monthly web traffic, according to data from Ahrefs. This makes it an awesome place to get into video and potentially drive a ton of business your way.
How to Use YouTube to Market Your Business
Start a YouTube Channel
In case you don’t have money to invest in paying for advertisements, you can still do something with the potential to be just as effective. The great thing about starting a YouTube channel is that there are no barriers to entry.
Contributing content to any website typically involves an application process. You can’t always get feedback if they don’t think your content is a fit, either.
To start a channel, all you really need is an email address. We will get to the other things required to grow it, but, the most important step besides signing up is deciding what your channel will be about.
Pick a Topic
You will need to pick a topic for your channel to focus on. It usually makes sense to go with one related to your business, so you can promote it in each video and include links to a website in the description.
Staying focused on your topic is important – it wouldn’t work very well for building an audience if you had a finance YouTube channel where every third video upload was cooking-related. Maintaining consistency will also make creating each video a little easier and faster.
Set Up a Filming Space
Depending on the types of videos you plan on making, you might want to set up a consistent filming space. This can be as simple as using your office and filming at your desk. It should be somewhere that’s blocked off from a lot of noise and interruptions.
That may just mean coordinating with your assistant (if you have one) to hold calls and avoid coming into your office while you are filming. The same goes for the family if you work from home.
Get Filming Equipment
The nice thing about today is that you probably already have a nice camera. A lot of phones have been able to film in HD and even 4K for a couple of years already. In addition to a camera, you will want a tripod, lights, and probably a decent microphone.
The tripod is crucial and you can pick one of those up for around $20 or $30 on Amazon. If your filming space has reliable natural light through a window, you could stick with that in the beginning.
The phone’s microphone should also work, at least at first. If you decide to stick with this marketing strategy, you can get all of the other equipment for under $200 later on.
Get Video Editing Software
Depending on your computer, you may already have some video editing software installed. If you use an Apple, iMovie is free and a powerful program for editing. PC users also have a variety of free options that can make high-quality videos.
I use Lightworks for our YouTube channel and it works pretty well on my older laptop. OpenShot is another free, open-source program that works well and can create videos up to 4K in resolution.
Get Comfortable on Camera
It’s pretty normal if you feel a little uncomfortable getting on camera. Pretending to talk to someone when you’re really talking at a tripod will always feel a little weird. One strategy that I’ve found works pretty well for dealing with that is to have an audience.
As long as they don’t make a ton of background noise, having someone sit behind the camera can help you focus more on making the video sound conversational. If you really can’t see yourself on-screen, consider working with someone who already has an established channel.
Work with YouTube Influencers
Working with an influential YouTube personality could be big for your business. When some of them command audiences in the hundreds of thousands, one shoutout on a popular video could (maybe) pay for itself many times over.
Every social platform has influencers, but ones on YouTube are especially powerful. Instead of written posts or pictures, they routinely speak directly to the people you want as customers.
Make A List of Relevant Influencers
There are going to be at least a few influencers you could approach that cater to your market. They will have a pretty wide range of subscribers and a number of views on their videos.
You can make a list in an Excel spreadsheet or Google sheet and organize them in order of highest to lowest subscriber count (or vice versa). It also can’t hurt for you to watch a few of their videos. That will help you make sure there isn’t any content you would want to avoid associating your brand name with.
Costs of Paying for Mentions
The cost for influencer marketing will vary depending on the number of followers someone has. Everything will still be negotiable, but data from eMarketer shows a few standard rates.
If you approach someone with 500 to 5,000 subscribers, expect to pay around $315 per video. The costs can go all the way up to $3,857 for channels with 500K + subscribers.
Measure ROI Before Spending a Ton
If you’re not careful, you could end up putting a lot of money into influencer marketing without seeing much in the way of results. Just look at the story of the Instagram star with 2 million followers who couldn’t sell 36 t-shirts.
Depending on your budget, you should take caution in paying for videos ahead of time or anything like that. Additionally, consider starting with a smaller YouTube personality.
Data from this study shows that micro-influencers are actually more effective along with being less expensive. In case influencers seem too risky, you can always look at the old-fashioned (but still effective) way of getting your business’s name out there: advertising.
Getting into Advertising on YouTube
There are a handful of different types of advertisements you can run on YouTube. If you get everything ready for starting a channel and decide you don’t want to do that, you will still be in a great position for making video ads. In addition to video ads, you have the option of display ads, overlay ads (ads that show at the bottom of a video), and sponsored cards.
The Video Ads
Most of the other social platforms offer video ads now. However, on YouTube, people are expecting to be watching a video so it’s a lot more likely that someone will already be engaged when your ad pops up.
There are a lot of marketers out there that you can look at for low-budget video ad ideas. Take the Dollar Shave Club’s video from a few years ago, for example. They just filmed their founder walking around the warehouse saying funny things and it was wildly successful.
This and other low-budget videos helped propel the 2011 startup to unprecedented (couldn’t help using the word!) growth and being acquired for $1 billion in 2016.
Different Types of Video Ads
There are a few different types of video ads to consider using. You will need to decide which one makes the most sense and structure your video around the way it functions for optimal results.
The ones you might be most familiar with are skippable video ads, which allow users to skip to their video after the first five seconds. These can be inserted at the beginning, middle, and end of videos. Then there are non-skippable ads, which can go up to 15 or 20 seconds in length, according to Google.
The third ones to consider are called “Bumper ads” and are non-skippable, running for up to 6 seconds. All of these are compatible with desktop and mobile devices, maximizing your reach.
Tying it all Together
YouTube is not showing any signs of slowing down, especially with the current stay-at-home state of the world. You can leverage a few different strategies to get your business known on the platform.
It’s worth dabbling in all of them a bit to see if one really stands out as effective. Consider starting your own channel, working with influencers, and making video ads to reach the masses.
RUSSIA’S DEFAULT IS A REALITY AS GRACE MONTH IS OVER
Russia’s default has finally arrived on its sovereign debt in foreign currency for the first time in more than a century. Moscow has been unable to pay the interest on two bonds in dollars despite having enough foreign exchange reserves to do so. Investors assure that they have not received payment after the grace month.
Russia is showing the consequences of the sanctions the West has massively imposed on it after the war against Ukraine.
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For months, the country has managed to find ways and shortcuts to wade through the measures that tried to isolate the government of Vladimir Putin and make the country fall into technical default. In the end, the West has achieved its goal, albeit somewhat later than expected.
Although Russia had the capacity to meet this payment, leading economic indicators —the composite PMI sank in March and remain below 50, indicating that the economy is contracting— reveal that the country is facing one of the major economic crises of recent decades.
With double-digit inflation and several leading companies on the way out, Russia will face a deep recession and perhaps years of economic stagnation.
The one-month grace period expired on Sunday on around $100 million of trapped interest payments due May 27, a deadline that is considered an event of default if not paid in the correct currency, according to Bloomberg.
Russia’s default is also backed by other data. The International Monetary Fund (IMF) reveals that the Russian Government had a debt of around $40 billion in hard currency at the end of 2021 —a relatively small amount.
Although the total foreign debt exceeds $470 billion, only part of that amount is in foreign currency and a smaller part is still a liability to the Russian Government.
This is a clear symptom of the rapid transformation that the country is facing, both financially and economically. Russia will have to go on without the foreign capital flows that have historically helped finance investments in emerging countries.
The nation’s Eurobonds have been trading on the secondary market at very low levels since early March, while the central bank’s foreign exchange reserves remain frozen. Russia’s largest banks are cut off from the global financial system, leaving the country in isolation.
Published First on ValueWalk. Read Here.
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Take Inspiration From Trending and Successful eCommerce Businesses
Believe it or not, online shopping has become a massive trend nowadays, and its popularity is increasing daily. Of course, we were already in the era of digitalization, but this entire pandemic situation has made eCommerce industries flourish more than expected in the last few years.
Nowadays, everything is digitized as people buy food, groceries, cosmetics, clothes, and even electronic gadgets online. This digital revolution has made it easier for creative founders to convert their dreams and ideas into a waking reality.
Old ways and patterns of handling businesses are changing every day, and business owners need to adapt to the fluctuating market trends. And in this, some trending eCommerce businesses have taken this eCommerce industry to a whole new level. They are ruling and conquering like a boss.
Here in this blog, we will be discussing such inspiring eCommerce businesses. So, keep reading to find out more and cope for the better.
What are The Types of eCommerce Businesses?
E-commerce businesses are not limited to one particular business model. Instead, there are various sorts of eCommerce business models as per their business offerings. So have a look at some of the highly prevalent eCommerce models.
- Business to Consumer (B2C): The process of selling from business to customer comes under B2C type E-commerce.
- Business to Business (B2B): The buying and selling process between businesses comes under the B2B type of E-commerce.
- Direct to Consumer(D2C): This new idea of selling directly to end customers without the involvement of any retailer comes under D2C type E-commerce.
- Consumer to Consumer (C2C): Consumer-to-consumer sales on platforms like eBay, Etsy, Fiver, and many more come under C2C type E-commerce.
- Consumer to Business (C2B): An individual selling their services to different businesses comes C2B type E-commerce.
Examples of Successful E-commerce Businesses
1. Warby Parker
Warby Parker is popularly known for producing designer, reliable and inexpensive frames for eyeglasses. An MBA student, Neil Blumenthal, and 3 of his friends launched this eCommerce company in 2010. They proposed the idea in 2008, and took nearly two years to implement.
Their idea of business was something very essential at that period because Luxottica (Another eyewear brand) was one of the few companies that used to sell designer and reliable frames, but they were costly as compared to Warby Parker.
Warby has a free try-on policy with free shipping and numerous return offers, and this is what the brand has adopted to stand out from the crowd and appeal to its customers.
An online Mattress retailer is helping people sleep better and comforting their sleep cycle. The whole idea behind this business model was to help people realize the importance of sleep and how an adequate amount of sleep can increase their productivity and quality of life.
Their first-ever mattress was “Universal Adaptive feel.” It was so flexible that it could easily adjust to all body types.
The 100-night free trial policy worked well for their customers and made the business model a huge success. Leesa had traditional showrooms at first, but with time they also opened online stores.
ModCloth is an eCommerce company launched in 2002, selling women’s clothing worldwide. They sell fun and quirky clothes that are not so exclusive but are comfortable and budget-friendly.
Everything about their store is creative and exciting – which customers nowadays love. The copies describing their clothes are also fun to read because every product has a name and story behind it – now, this is something very catchy.
ModCloth became a brand within a few years of its launch because of its targeted marketing strategy. They know who their target audience is and what requirements they have. Knowing this has made their business reach exceptional heights within a short period of time.
Mostly we know Amazon was launched in 1995 as an online bookstore and has been flourishing since then. Now amazon is not limited to books anymore because now it sells almost everything you can think of. From groceries to clothes and even jewelry, Amazon has it all.
Right now, Amazon is one of the largest eCommerce stores by revenue worldwide. Though amazon started with no competitors, now it has Walmart as one of its biggest competitors. Last year Amazon made a revenue of $470 billion.
Amazon has adopted a stellar marketing strategy, which is targeting the right customer and offering products at comparatively lower rates.
Shopify is a SaaS (Software-as-a-service) company that provides all the tools needed by a business to run its eCommerce business smoothly. It helps them with website building, marketing, payment processing, financial tracking, and everything in between.
It is a tech infrastructure that supports more than 2 million merchants and various operations ranging from mom-and-pop businesses to global brands. Shopify made $389 million in revenue in 2016 to $4.6 billion in revenue in 2021.
The profitability of Spotify has been improving with time because, just like every SaaS business, it has also scaled up.
LARQ is a business model that makes self-cleaning water bottles that are reusable, rechargeable, and also have some advanced features. For example, it has UVC technology used to eliminate viruses & bacteria from water bottles.
LARQ has the initiative to provide clean water to everyone. They also raised $1.7 million for the same. In addition, LARQ donates 1% of its earnings to help maintain clean water worldwide.
The product was so unique and exciting that it attracted numerous customers. As a result, many environmentalists and aware citizens switched to these LARQ bottles and saved their money from buying single-use water bottles.
7. Beer Cartel
Beer Cartel, as the name suggests, is Australia’s number one beer subscription service. It is said that some ideas sell themselves; the same was the case with this one.
Beer Cartel sells beers from all around the world to their subscribers at their doorstep. This online store gives people the freedom to select their unique beer bottles at a price better than traditional stores.
One of the significant reasons for Beer Cartel’s success is that they offer exclusive taste under budget. In addition, they have a wide range of varieties that keeps their customers interested and coming back.
8. Berlin Packaging
Berlin Packaging is well known for sourcing, designing, and even distributing containers and closures for companies like fortune and various family-owned startups.
They have always provided products at a lower cost to their customers to increase the overall efficiency of their enterprise. One interesting fact about it is that it is not a new startup; it is 80 years old, in fact. But Berlin Packaging has somehow still managed to bring their customers the latest and top-quality beer.
They started this eCommerce business model to keep up with the times, which worked out well for them.
With the introduction of eBay, Bonobos knew that the eCommerce business was getting more competitive with each passing day. So, they introduced a unique business model targeting only a super-specific audience.
This strategy of narrowing down to a particular audience helped them make loyal customers who also flourished their business in the long run. Bonobo’s success made everyone realize that focusing on the competition is not good for your business’s health.
They should focus on the value they provide to their customers, and they will reach greater heights of success.
The name of the company seems fascinating, right? Well, so is their initiative. TOMS is an eCommerce company that sells its customers quality shoes that are reliable, comfortable, designer, and inexpensive.
What separates TOMS from other similar eCommerce is that with every transaction, they will help one in need. Yes! Not only this, but they also run various social media campaigns with hashtags like #withoutshoes and many more to stand out from the crowd.
Everything about their business model is catchy and interesting, making it easier for them to drive more traffic to their online shop.
What are the Biggest Benefits of eCommerce?
Shopping in the comfort of home: eCommerce has made shopping easier and more convenient for our customers. Buying and selling things is a child’s play nowadays. As a result, our purchases are simpler, faster, less time-consuming, and not so hectic.
Markets are globalized: Now, you can shop from anywhere around the world at the convenience of your home. The impact of eCommerce on the planet can easily be visible. There are no limitations or barriers to buying from a different state or country.
Building startups is not so expensive anymore! Yes, in this era of digitalization, anyone can set up their online store at a meager cost. In addition, the operating cost is minimal because both buyers and sellers are now digital.
Technologies are evolving rapidly because of this, eCommerce businesses have to see a lot of changes frequently.
If you have an eCommerce business that is not growing as expected, you must adapt to new business models that add value to your customer’s life and your e-commerce services (my business: krishaweb dot com).
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What Does the G7 Russian Gold Ban Mean for Gold Stocks?
The G7 plans to announce a ban on Russian gold imports. But does that really matter for investors? While there hadn’t been an official Russian gold ban until now, this news isn’t exactly a surprise to the industry. Today, we’re seeing that lack of reaction in gold prices.
Typically, a ban on imports for a particular commodity sends prices soaring higher. Just look at what happened to oil after Russia invaded Ukraine. As it pertains to gold, prices also initially ticked higher this morning, with the futures opening up by under 1%.
However, it has now turned lower on the day, as have the VanEck Gold Miners ETF (NYSEARCA:GDX) and the VanEck Gold Miners ETF (NYSEARCA:GDXJ).
Does the Russian Gold Ban Matter?
This latest decision does matter. However, it will have a limited impact on the global gold market and gold-mining stocks. Warren Patterson, Head of Commodities Strategy at ING Groep NV (NYSE:ING), had the following to say:
“The impact from a ban on Russian gold imports by G-7 nations is likely to be fairly limited, given that the industry already took steps to restrict Russian gold […]It looks as though its largely symbolic.”
Russia has the world’s fifth-largest gold stash according to the World Gold Council. However, it only exported roughly 5% of the world’s gold supply in 2020. A bulk of those exports — over 90% — went to the United Kingdom, a G7 member. Still, Russia will likely find buyers in China and India.
In actuality, the buying pool may shift, but it will not completely evaporate.
How Does This Affect Gold Stocks?
At this point, the ban does not seem to have much of an impact on gold stocks. There’s multiple reasons why this is the case.
- The industry seems to have largely prepped for such a ban.
- Russia is not that large of an exporter of gold.
- The efforts from central banks to raise interest rates and strengthen currencies is likely playing a more important role in regards to precious metal prices.
Ultimately, a Russian gold ban certainly doesn’t hurt gold prices — if anything, less supply is a bullish catalyst — but right now that catalyst is not reverberating through the market. However, removing Russian supply from the market will be a modest positive for gold miners.
Published First: InvestorPlace. Read Here.
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