Traditional marketing professionals suffer from myopia?

What do you think about Youtube?

If you try asking 100 people working in the marketing industry the question:

“What are the main Social Networks?”

 

only a few will mention Youtube.

In a world dominated by the frenzy to

  • discover,
  • know,
  • report and documentate,

few people think about Youtube as a marketing channel and therefore struggle to include it in the social networking category.

 

An empirical experiment is googling the keywords:

“MAIN SOCIAL NETWORKS”

 

The most likely answer that comes to your mind is certainly Facebook.

 

To support your hypothesis, let’s see the results of the first Google search page.

 

It’s amazing to find out that:

  • The first result shows a list that doesn’t include Youtube;
  • In the second one there’s a list, in which there is also Youtube;
  • In the third and fourth result Youtube doesn’t appear in the list shown;
  • Youtube doesn’t appear again in the fifth result;
  • The sixth result mentioned Youtube in a marginal way;
  • The seventh point talks about Youtube, but it point out that it isn’t a social network;
  • The eight result shows an infographic where Youtube is the second most popular social network after Facebook;
  • The ninth result cites it just as part of Google+;

 

A strategic reflection arises spontaneously at this point.

 

If all companies suffer from this myopia towards Youtube, can I exploit this omission of my competitors to gain an advantage?

 

If the other financial promoters don’t know or don’t use Youtube as a client acquisition channel, can I use this error to gain an advantage over them?

 

According to the Alexa 500 Top Sites report, Youtube is the third most visited website in the world.

 

Consider that  we are talking about one of the most famous website all over the web, and one o the most “crowded country all over the World”.

 

Some billions of people spend an important part of their day on Youtube and companies overlook such a significant channel.

 

The feeling of being small, shy, unable to make Oscar worthy videos must be set aside. 

Consider that your competitors are definitely not Oliver Stone either.

 

As a financial advisor, you are an individual with all the advantages and disadvantages of this situation.

 

You have a huge advantage over large banks and other organizations that could compete with you.

 

You can just take the iPhone out of your pocket and shoot a video now, without the constraints of the big players.

 

Speed, simplicity and an informal approach are a powerful key to approach this channel.

 

The financial promoter has an advantage over big banks also regarding the public involvement, for example comments and reactions.

 

When receiving a comment, the financial promotor has the ability to manage the interaction in a direct, personal way, turning it into a spontaneous testimony of his work.

 

In the case of a negative comment instead, he has the possibility to intervene in a faster, more direct and incisive manner than the big corporations.

 

The corporation might use comment moderation, giving the impression of censoring negative comments and only letting the positive ones appear.

 

We can say that Youtube is a social network for the small businesses

 

The activities that a small business can use Youtube for, fighting the big ones like “David against Golia” are:

  • Posting videos: this is the most obvious action, but also the wisest and most effective one. Posting with regularity, your videos are included in your feed and your subscribers are involved in your work.
    • When they interact with your videos, their subscribers see this interaction and are affected by this wave that is propagated concentrically across the web.
    • A second beneficial effect is linked to the indexing produced by searches on Google, for example, for keywords associated with your industry and your videos;

 

  • Commenting on videos: you can comment on competitors’ videos, clients’ videos and even videos in related areas. By sharing intuitions, suggestions and (intelligent) opinions, you will gain authority in the counseling field according to your specialization;

 

  • “Liking” videos: unlike Facebook, Youtube offers both “like” and “do not like”. They are a strong form of encouragement or disapproval;

 

  • Adding videos to a playlist: if you want to share information with your potential contacts or offer a training on a specific subject, you can create a playlist using videos not made by you. 

 

  • Writing a comment on a channel: commenting a (potential or current) client’s Youtube channel or a financial expert’s channel let the owner knowing you in a friendly and engaging manner;

 

  • Subscribing to other channels: it’s the highest form of support you can give to the channel’s owner;

 

  • Send a newsletter: you can send messages to your subscribers’ feed to communicate directly and in an involving way an information, updates or important communications. 

 

So to close this post, the steps to start thinking about Youtube as a costumer acquisition channel are simple:

  • Deciding to use Youtube as a social network;
  • Starting a short market research to understand the positioning of the competitors and to know how to take advantage of what they left uncovered;
  • Systematically repeating all the possible action on Youtube to create a public of contacts;
  • Leaving the comments open on the channel, preparing yourself to answer complicated questions.

See you soon for further insights on the potential of Youtube.

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