Introduction
There's a hidden business opportunity that 99% of creators and entrepreneurs are overlooking. Many view the time, money, and energy invested in YouTube as just another expense or an overwhelming task on their to-do list. However, while they wait, companies with similar products and services are capturing a disproportionate market share, lowering customer acquisition costs, and building direct relationships with their customers. The window of opportunity is closing.
The Power of YouTube
Over the past decade, I've built multiple YouTube channels with over 4 million subscribers and almost half a billion views. I've witnessed businesses transform from small operations into media companies, generating seven and even eight figures. In this article, I'll share exclusive insights from a keynote I presented at a YPO business event in Miami.
YouTube as a Strategic Business Asset
YouTube isn't just a marketing expense; it's your most strategic business asset. In this section, we'll explore why YouTube is crucial for your business and how it can help you dominate your market.
The Two Paths to Success
Every CEO and business owner has two paths to choose from when it comes to leveraging YouTube: building a business-led media machine or establishing a personal brand authority. We'll discuss the pros and cons of each approach and provide examples of companies that have successfully implemented them.
Turning Content into a Business Flywheel
We'll also reveal the exact system that turns content into a business flywheel, compounding year after year. This system will help you create valuable content that attracts and engages your target audience, driving traffic, leads, and sales to your business.
The HubSpot Example
Companies like HubSpot have invested millions to become media companies, and for good reason. We'll analyze HubSpot's strategy and why you should consider following their lead.
My Journey to YouTube Success
Before we dive into the strategies, let me share a little bit about how I came to this discovery in my personal journey. Back in 2010, I was waiting tables at Red Robin when I started filming videos and posting them on the internet. Despite the poor quality of my early videos, I saw an opportunity on YouTube.
The Epiphany
My first epiphany was that YouTube is a search engine, and it's still the second largest search engine in the world, even in the age of AI and other channels. This realization led me to become obsessed with the idea of creating videos that could be found by total strangers.
Early Success and the Need for Scale
By 2015, I was able to make a six-figure income as an independent content creator. However, I soon realized that I was playing a solo game and that there was limited scale to my business. This led me to study business and explore ways to build a more durable and scalable media company.
Inspiration from Other Brands
I drew inspiration from brands like Saturday Night Live, CNET, and the Wu-Tang Clan, which had built successful media companies with multiple creators. I wanted to create a brand that wasn't tied to any one individual but could scale and grow over time.
The Growth of Think Media
Fast forward to today, and Think Media has grown into a full-fledged media company with multiple YouTube channels, a team of creators, and a diverse range of products and services. We've achieved significant success, with over 4.3 million subscribers, nearly half a billion views, and a presence in various media outlets.
Why YouTube Should Be Part of Your Strategy
The data confirms that YouTube should be or could be part of your business strategy. Let's take a look at some current stats:
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YouTube has over 2.7 billion monthly active users.
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It's the world's second largest search engine.
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68% of YouTube users watch video to make a purchase decision.
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Over 75% of Fortune 500 executives watch online videos regularly.
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YouTube content has a long shelf life compared to TikTok and Instagram.
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It drives higher buyer intent than TikTok or Instagram.
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The CMO of HubSpot said that YouTube subscribers are the most valuable subscribers on the internet.
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Marketers using video grow revenue 49% faster than non-video marketers.
Three Strategic Insights for YouTube Success
Based on my experience and the data, here are three strategic insights for achieving YouTube success:
YouTube as Your Most Valuable Untapped Business Asset
YouTube isn't just a marketing expense; it's your most valuable untapped business asset. Modern media companies have a software company embedded inside, and next-gen software companies will have a media company embedded inside. This means that any business can and perhaps should start a media company within their business.
The HubSpot Example
HubSpot is a prime example of a company that has successfully transformed into a media company. They made a major play to not just be a SaaS company but to become a media company, investing in content marketing, software lead generation, and media company acquisition and development. Their strategy has paid off, with lower customer acquisition costs, direct audience relationships, and a content flywheel that has compounded ROI.
The Beard Brand Example
Beard Brand is another company that has leveraged YouTube to grow their business. They started as a niche beard oil business and transformed into a lifestyle brand through YouTube. Their YouTube channel has over 2 million subscribers and has helped them build a loyal customer base and increase sales.
Choosing Between a Business-Led Media Machine and a Personal Brand Authority
Smart CEOs can choose between a business-led media machine or a personal brand authority. There are two paths to choose from:
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Business-Led Media Machine: If you don't want to be on camera, you can build a business-led media machine. This can be done through internal team development, external talent acquisition, or creator partnerships.
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Personal Brand Authority: If you're willing to be the face of your brand, you can establish a personal brand authority. This can be done by creating valuable content, building a following, and engaging with your audience.
Examples of Business-Led Media Machines
Ahrefs is a SaaS brand that has built a powerful YouTube channel with internal team members as the faces of their videos. HubSpot has also built a business-led media machine through a combination of internal team development, external talent acquisition, and creator partnerships.
Examples of Personal Brand Authorities
Eric Hsu is a CEO and founder who has built a successful personal brand through his YouTube channel. Nick Bear is the founder of Bear Performance Nutrition, a supplement company, and has built a YouTube channel that has helped him grow his business and build a following.
YouTube Success is Built on Systems, Talent, and Consistency
YouTube success is built on systems, talent, and consistency, not viral videos. To achieve success on YouTube, you need to have a clear strategy, a talented team, and a consistent content schedule.
The Importance of Systems
Systems are the invisible engine behind visible success. They help you streamline your processes, improve your efficiency, and ensure that your content is high-quality and consistent.
The Role of Talent
Talent is also crucial for YouTube success. You need to have a team of talented creators, editors, producers, and marketers who can help you create and distribute your content.
The Power of Consistency
Consistency is key when it comes to YouTube. You need to have a consistent content schedule and post videos regularly to keep your audience engaged and coming back for more.
The Future of YouTube
The future belongs to those who act before the opportunity becomes obvious. YouTube is still the dominant video force, and there is a lot of opportunity on the platform. However, the competition is getting tougher, and you need to be strategic and innovative to succeed.
The Importance of Acting Now
If you're not already on YouTube, now is the time to start. The longer you wait, the more difficult it will be to catch up with your competitors.
The Need for Innovation
To succeed on YouTube, you need to be innovative and create content that stands out from the crowd. This means thinking outside the box, experimenting with new formats and styles, and engaging with your audience in new and creative ways.
The Role of YouTube in Your Business Strategy
YouTube should be an integral part of your business strategy. It can help you increase brand awareness, drive traffic to your website, generate leads and sales, and build a loyal customer base.
Conclusion
In conclusion, YouTube is a powerful business asset that can help you achieve your business goals. By following the strategies outlined in this article, you can build a successful YouTube channel and transform your business into a media company. Remember, the future belongs to those who act before the opportunity becomes obvious. So, what are you waiting for? Start building your media empire today!
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