I Have 50 Ways To Improve Your Video Business

1. Study the sales and marketing of successful companies. Production Companies are an obvious place to start. Less obvious are some of the large duplication companies. Many of them are experts at selling businesses on the benefits of video. Don’t steal anyone’s copy. Instead, develop your own sense of what makes compelling copy. Start by keeping a “swipe file” of outstanding sales letters and marketing materials you find. The one thing they will have in common is that they are aimed at solving a client’s problem.
2. It costs five times as much to land a new client as it does to resell an existing client. Keep in regular touch with every past client you’ve ever had. Send them birthday and holiday cards. Even the bad ones will often surprise you and reward you with referrals and more work. The list of your existing clients is the most valuable asset of your business.
3. When you sell production services, always sell duplication services, standards conversions and other add-ons. Dupe jobs, for instance, will continue earning profits for years after the production. You can farm out the duplication to one of the larger duplication companies and still make a good profit just for making a couple of phone calls.
4. When selling video services, you’ll find a lot of “tire kickers” who may honestly want a video for their business or agency, but who will never pay a fair price for it. These people are stealing your time and that’s just like reaching into your wallet and taking your money and credit cards. Move on to prospects who are ready and able to buy from you.
5. One of the most common mistakes made by businesses and sales people is that they talk too much about themselves and their business. The focus of all marketing and sales efforts must be on what the client wants. In a sales meeting, ask leading questions about the challenges of their business or non-profit and then listen carefully to their answers. Asking the right questions will give you all the ammunition you need to write the winning proposal.
6. An investment in marketing and selling your video services can be more profitable than investing heavily in equipment. Many producers have built successful businesses with only a phone, computer and some business stationery. They rent or subcontract everything else.
7. Use government-produced public domain footage like NASA shots, lightning, health care and thousands of other subject to give your productions extra value. For the cost of a copy, you can purchase some stunning footage to stretch a small budget into an impressive production.
8. If your home office meets certain requirements, you may qualify to deduct a percentage of your home expenses including: interest paid on a mortgage, electricity, telephone, garbage pickup, possibly even cable TV. Work with a good accountant to set your home business up the right way. You’ll be entitled to thousands of dollars of legal tax deductions.
9. Free publicity is more effective than paid advertising so start a regular campaign of writing news releases to area newspapers and business publications. Call first and determine who should receive your news release. Always send a cover letter addressed to the right individual, and proofread your materials again and again until they’re letter perfect. Use the proper press release format with a powerful headline.