| There's no doubt that people are making big dollars producing their own special interest tapes...but for every one that hits big, there's another four or five hundred tapes made and released to the marketplace that never even sell adequately enough for their producers to cover their production and development and marketing costs. |
There's no doubt that people are making big dollars producing their own
special interest tapes...but for every one that hits big, there's another four
or five hundred tapes made and released to the marketplace that never even sell
adequately enough for their producers to cover their production and development
and marketing costs. Why do so many people fail at this --even with good
products and good production? CONCLUSION...
There are a host of good reasons for bad results:
1/ YOU ONLY HAVE ONE PRODUCT.
It's hard to
produce and market and sell and be a big success on just one title. When your
product line is just one item deep, you can't spread your advertising and
marketing costs along several items. Unless you've hooked up with a big national
bookstore chain like Walden's or B. Dalton, if you're selling a single tape
retailing for, say, $19.95, your advertising costs are
simply going to eat
you up
2/ YOUR EXPECTATIONS ARE TOO HIGH.
Whoops!
Have you been reading too many stories about Jane Fonda's workout tape making
hundreds of millions of dollars? It's highly unlikely that you're going to
retire on the proceeds from just one special interest or instructional
videotape. My advice here is to get real. Set reasonable goals for your
product(s).
3/ YOU HAVE LITTLE OR NO MARKETING SUPPORT.
You can build the best mousetrap in the world, but if you don't attract the
people who WANT that mousetrap --and attract them with an urgency to your
message so they start beating down your door, checkbooks in hand --you're going
to be sorely disappointed. If you want to motivate a prospect to buy a product,
you have to reach them often, promise real benefits, get them to react switfly
to your offer, then follow up with the goods!
4/ YOUR MATERIAL
HAS NO BROAD INTEREST.
How many people want to know "How To Make A
Swamp?" It's sad but also very true; a lot of informational videotapes are
merely ego-driven productions. You want your name and your face on that tape;
your client wants to be captured on camera, telling us everything he or she
knows about collecting lint. If you REALLY want to make money with a videotape
or a series of the same, you have to direct your products at a marketplace that
either has a pain you can relieve, or an aspiration that you can help them
accomplish.
6/ YOU'RE SPENDING TOO MUCH ON PRODUCTION.
It doesn't make sense to sink US$10,000 or more into a tape that will net you
half that much in a year. Get reasonable.
7/YOU OVERSPEND ON
PACKAGING.
Unless you're selling directly in stores where
eye-catching point-of-purchase packaging is an absolute must, you don't need
expensive packaging. If you're selling by mail, you can get by with a plain
cardboard sleeve, a one-color videocassette top and spine label. Shrink-wrap it
if you'd like. Or make up a wraparound label that fits inside a full-sleeve
plastic library case, print or copy them in one color, and slide 'em in the
case. In many cases, the cost of expensive packaging will exceed your production
costs, and it's just not necessary.
8/ YOU HAVE NO PUBLICITY OR
EDITORIAL SUPPORT.
It's unfortunate that many special interest
producers start their publicity efforts only after they've got
a product or two in their hands. This is detrimental to your sales efforts! You
should be doing your publicity well before you've got your product ready for
release! This publicity should include a press release to those magazines,
newsletters and newspapers, radio and televisions stations who would be
interested in your new product. And this release should be sent between 75 to 90
days before your product will be ready for sale.
Make no mistake about it; there's good
money to be made in special interest videos. Just remember that the road to
success is always a little bit rockier than you might first guess. Luckily,
there's been a lot of travelers on those roads already; observe them, model
after them --at least the ones that have navigated successfully, that is! And
remember to keep your eyes on the benefits that the customers will attain with
your program, and NOT on the program itself. Finally --start small. That way you
can accommodate the inevitable growth that will occur when you do things right,
time after time.
Keywords:
siv, special interest, educational, special interest
video
Posted
by Steve Yankee on May 6, 2003
Printed from: www.videobusinessadvisor.com
See links section.