The Larger the Reach, The Greater The Value
There are a large number of companies that rely on marketing to reach a larger number of people with their brand. Marketing is not an easy task for most people. It takes a lot of trial and error, money and time. Once you have built an established brand, this can become quite a bit easier. You have a following of people. This means anything you publish or post gets more likes, shares, and other interactions. These interactions allow more people to see your posts and you increase your reach, leading to an increase in followers. Creating engaging and valuable content is the premise of many business models to generate this free marketing.
The great thing about viral posts is that they reach millions, if not billions, of people. You can create a viral post whether you have a small or large following. It just has to be something that people find value in. This could be information, entertainment, disgust, or really anything to create a “WOW” factor. Some companies are great at creating these, and literally make millions from doing so.
How Do They Make Money From Views?
There are three primary ways to make money from views. One is to sell ads in your content. The other is to get on a larger platform that pays your for a certain amount of views such as YouTube. The third comes not from views, but the click-throughs and conversions. The third way is what you ultimately aim for. Selling ads in your content is tough. For starters, you have to show that you have a large enough reach for people to want to advertise with you. Second, you have to know that ads will deter some of your viewers. This is why many people prefer to use a platform like YouTube.
Companies pay YouTube a lot of money to advertise on their platform. This is because YouTube gets billions of views each day on their videos, so they know they will reach a large number of people. YouTube relies on these views, so they pay content creators for reaching milestones on videos, by getting a large number of views. This is typically paid per thousand views, or per 10 thousand views. If you can create viral content, there is money to be made by using YouTube, in combination with other platforms that pay you for content.
Turning Views into Conversions
Ultimately, you want people who see your posts and videos to go to your website. That is where you can convert them in subscribers, or even sales. People who simply sign up for a newsletter or email club can be later converted into sales through a proper email campaign. Maybe people just really love what you do and want to support it. Or they really like your merchandise. T-shirts, hats, and small items that can be branded are huge sellers that you can purchase and ship relatively cheap and have high margins. These are sales that you want for your brand. Views can generate these sales.
The Breakdown on Numbers
Say for example you have a video that gains insane popularity. Let’s say a million views on YouTube. Currently the average rate for views on YouTube is about $3 per 1,000 views. This is $3,000 just from YouTube. Now lets say that you have a link in the description to your website that you promote. If you can get 3% of people to follow this link to your site, that is 30,000 visitors to your site. Now if only 1% of these people make a purchase, that is 300 orders you get. Let’s say every person bought a T-shirt for $15. That is $4,500 dollars in sales. If each shirt costs you $7 to make and ship, you profit $2,400.
Now consider that you may have your video on multiple platforms. They may not pay as well as YouTube, but they will still pay you. Also, with any sales your site generates, you gain the customers email address which you can use to re-target them later for sales. Even if someone went to your site and did not purchase anything, they may have signed up for your newsletter or email list. This is another opportunity to target them for sales. There are a lot of ways to make money from content that reaches a large number of people.
One company that is great at this is Barstool Sports, particulary Dave “El Presidente” Portnoy, the company’s President. Their content is not always the most appealing to eveyone, but they sure know how to create the “WOW” factor. Just yesterday, Portnoy took an image of someone asking barstool employees to “DM him” for information about creating a union and threatened to fire them if they contacted the man. Now I think this was all staged in a genious way. The outrage this post generated gained a response from Alexandria Ocasio-Cortez saying that he can be sued for this. Regardless, this was all over twitter and major news outlets. A guy from Barstool Sports broke down the numbers so everyone can understand why Dave just kept throwing fuel on the fire.
Barstool Sports got over 1.1 billion impressions across media platforms from yesterdays twitter blowup. Yes “billion” with a “b”. If you consider a cost per thousand (CPM) of $20, then that is over $22 million dollars in free marketing. A $20 CPM is probably inflated by this guy to seem like more than what it actually is. Even if the CPM was around $5, that is stil $5.5 million dollars in free marketing. Ever here that no publicity is bad publicity? Here is your proof. They are geniuses at this company. Even better, they are sitting at the office right now laughing about all the people that are mad online about the comment, even though he trolled them and made so much money from it.
Many people are successful without using the same tactics that Barstool Sports uses. For example, NELK Boys have recently grown immensely on media channels. On top of the revenue from their views, they heavily promote “Merch Drops”. These are limited releases of branded apparel that are unique every couple of months. They build hype for them in their videos, and onlly release a certain amount of each item. The result is that they sell out within a day, and generate a ton of profit in the 24 hours. They create their content by doing crazy stunts, funny pranks, and living a rockstar life style.
Whatever path you choose to follow for your business, it is possible to get free marketing and exposure. The most crucial aspect of this is to gain a following and create quality, content that people love. This will help content go viral. It is not an easy task, but just one good post can boost your brand immensely. Good luck with your marketing, and hopefully your content is the next crazy, viral piece that I click on in between blogs.