It is a tenet of business that the purpose of a company is to create a customer. As important as it is to grow your YouTube channel and gain more and more subscribers, ultimately, the goal is to convert a proportion of those subscribers into customers. The difference between subscribers and customers is simple: customers pay for services you provide. It’s hard to say what fraction of subscribers you will be able to convert into customers.
What we do know is that you can create a successful content business with as few as 100 or even 1000 customers. In this article, we will discuss how to convert YouTube subscribers into customers.
Create Valuable Content
The premise of this article is that you do not need to have millions or even hundreds of thousands of customers. What you need is hundreds or thousands of customers, or what Wired editor Kevin Kelly called, “true fans”. As a content creator, your road to building a base of customers begins with the quality of your content. Success lies in creating content whose value is so compelling that a fraction of your subscribers are willing to pay for your content.
These customers will pay membership fees for communities you create; they will drive hundreds of miles to hear you perform; they will pay for a new program that you are launching; they will do what it takes to get hold of your content.
For your customers, your content will have a powerful resonance, it will meet a need they may not have even been aware they had. They will be hungry for more. For them, they won’t be able to get enough of what you produce. Your content will have a product-market fit. If you have hundreds or even thousands of such subscribers, you can make a decent living.
The math is pretty straightforward. If each customer can be persuaded to part with $100 a year, then 1000 customers gets you to $100,000 a year in revenues. If your content is particularly powerful, then you can charge more and survive with just hundreds of customers. With the growth of the Passion Economy, this has become possible. 100 customers paying you $1000 per year.
The Passion Economy has already witnessed many such success stories on other platforms. On Patreon, the number of patrons paying $100 a month or $1200 a year has grown by 20% a year since 2017. On Teachable, in 2019, there were 500-course creators who earned more than $100,000 a year. 25 of them earned $1,000 per student.
Maintain A Direct Relationship With Your Customers
The second thing you need to do is maintain a direct relationship with your customers. By this, I mean that your customers must pay you directly. Kill the middleman. This way, you keep as much of their monthly fee as is possible. That gives you a shot at making $100,000 a year from your business.
A hundred customers is something you can aim for. So is 1000. If you convert one subscriber a day, it would take you just over 3 months to get 100 customers, or a few years to get 1000 customers.
Now, you don’t necessarily need to get 1000 customers. You don’t even have to charge $100 or $1000. You could get $50 per customer every month and aim for 2000 customers. Or, you could aim for $200 every month per customer from a group of 500 customers. The point is to discipline your efforts around creating valuable content to satisfy a niche group of fervent customers. You can buy YouTube subs to get eyeballs on your content and work to create content of such quality that hundreds of thousands of customers are enough to earn you a good living for the year.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.