The Creator Game
Business is full of different types of games, such as the startup and valuation game and the platform game. One area I am particularly knowledgeable in is the creator game. However, the creator market is highly saturated, with new channels and creators popping up on platforms like YouTube every minute.
It is evident that simply producing more videos will not guarantee success in the creator game. To gain maximum views on the web, one must create shocking and awe-inspiring content like Mr.Beast. However, these types of videos do not generate significant revenue unless they receive millions of views. Additionally, viewers of such videos are unlikely to convert into paying customers. The main source of income for these videos is through YouTube ads.
YouTube creators may attempt to monetize their content through sponsorships, speaking engagements, and affiliate marketing, but to truly convert their audience into revenue, they must also offer their own products and services. These products should not just be fan merchandise, but rather high-value items such as consulting services or membership to a mastermind group.
When targeting a niche that has the potential to convert into high-paying clients, the videos may not receive as many views. For example, I recently posted a video on email marketing on my YouTube channel, it could have received 100k views, but it has only gotten 3k views so far.
Content That People Need (Not Want)
Entertaining and funny content is what typically receives millions of views on YouTube, but I am not interested in pursuing that direction as it would attract an audience that is unlikely to convert into high-paying clients. I do not want to rely on ad revenue.
On the other hand, creating high-quality videos that can assist people with their careers, health, relationships, and business do not usually go viral on social media. Thus, I cannot rely on the YouTube algorithm to distribute such content effectively.
I need to create content that people need, not just what they want, and find a way to reach my target audience without relying on YouTube or any other social media platforms to distribute my content.
Forcing People to Consume Content
The only way I have found to effectively get people to watch the content they need is to charge a premium for it. When high-value content is given away for free, it is often perceived as low-value and thus does not have the desired impact.
Charging money for a course will ensure that people pay attention to the content that will improve their lives. This approach also earns more respect as a creator because now you are helping to transform people's lives, not just entertaining them on social media.
You can charge money for self-paced courses, mastermind groups or cohort based courses.
Mastermind groups are effective for learning new things because they provide a supportive and collaborative environment where individuals can share their knowledge and experience with each other.
The group format allows for diverse perspectives and ideas to be shared, leading to a deeper understanding of the subject matter. Additionally, being accountable to the group can provide motivation and accountability for members to stay engaged and continue learning.
The ability to receive feedback and guidance from others who have faced similar challenges can also be highly valuable.
Cohort Based Courses
Cohort-based courses, in which students learn together in a group, can be better for learning a skill than self-paced courses for several reasons:
- Accountability: When you are part of a cohort, you are held accountable by your peers and instructors. This can provide motivation to stay on track and complete the coursework.
- Peer-to-peer learning: Cohort-based courses provide an opportunity for peer-to-peer learning, which can be a highly effective way to learn new skills. Discussions, group projects, and other collaborative activities can help you learn from your classmates' experiences and perspectives.
- Real-world application: Cohort-based courses often involve real-world projects, case studies, and other opportunities to apply what you've learned. This can provide a deeper understanding of how the skill can be used in the real world, rather than just theory.
- Personalized feedback: Cohort-based courses often involve more personalized feedback from instructors, who can help you identify areas where you need to improve and give you guidance on how to do so.
- Community and support: Cohort-based courses can create a sense of community and support among students, which can be especially beneficial when learning a new skill, as it can be challenging and overwhelming at times.
Self-paced courses can be a good option for those who have other obligations and can't commit to a set schedule, but cohort-based courses can offer a more immersive and effective way to learn a new skill.
Why Charge Money for a Course?
Charging money for a course can lead to better student success than free courses for several reasons:
- Investment: When students pay for a course, they are making an investment in their learning. This can create a sense of commitment and motivation to complete the course and apply what they've learned.
- Quality: Paid courses often have a higher level of quality and are more comprehensive than free courses. They may have more in-depth content, more interactive activities, and more personalized feedback.
- Support: Paid courses may offer more support services, such as office hours, tutoring, or mentoring. This can help students stay on track and get the help they need to succeed.
- Credibility: A paid course can be seen as more credible than a free course, which can make it more valuable to employers and clients.
- Fewer distractions: When a student is paying for a course, they are more likely to focus on the material and less likely to be distracted by other things. This can lead to better retention and understanding of the material.
It is important to note that free courses can still provide valuable information and can be a good option for those who can't afford to pay for a course. However, a paid course can provide a more immersive and effective way to learn a new skill, as it may have more comprehensive content, more personalized feedback, and more support services.
Scale with Paid Ads
When you are making revenue and profits with paid courses, mastermind programs, and events, you have the power to invest in paid advertising and scale your reach.
Paid ads can reach a much larger audience than organic traffic, as you can target specific demographics, interests, and behaviors. With paid ads, you can also reach people who are not currently searching for your product or service, but are likely to be interested in it.
Paid ads can produce results much faster than organic traffic. With paid ads, you can see results in a matter of hours or days, whereas it can take months or even years to see results from organic traffic. Paid ads are more measurable than organic traffic. You can track the number of clicks, conversions, and the ROI of your campaign. This allows you to optimize your campaigns and measure their effectiveness.
Paid ads are more predictable than organic traffic. With paid ads, you can set a budget and know exactly how many clicks, conversions, and ROI you will get in return. This allows you to make more informed decisions about your campaigns.
It is important to note that organic traffic can also play an important role in your marketing strategy, but paid ads can be a more efficient and effective way to reach a large audience quickly and measure the effectiveness of your campaigns.
Reach Your Audience via Email
An email list gives you direct access to your audience's inbox, whereas social media platforms control the reach and visibility of your content. With an email list, you can send messages directly to your audience and be more certain that they will see your content.
Email open rates and click-through rates tend to be higher than social media engagement rates. People are generally more likely to open and read an email than to scroll through their social media feed.
Emails are more personal than social media posts, and they can be more effective at building relationships with your audience. Emails can be more targeted and personalized to the specific interests of the audience, and they can be used for one-on-one communication.
An email list is an owned audience, meaning that you have control over the list and the data it contains. This can be valuable in the long-term as social media platforms can change their algorithms and policies which can affect the reach of your content.
Email lists have been known to have a better conversion rate when it comes to sales and lead generation, as email is a more direct and personal way of communicating with potential customers.
It is important to note that social media can still play an important role in your marketing strategy, but an email list can provide a more direct and effective way to reach and engage with your audience.