Turning Fame Into Money

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Brian Robbins, the founder of Awesomeness TV, a developer of YouTube channels, conducted a survey asking the question, “Do you want to be the next YouTube star?” Two hundred thousand people responded “Yes” and over 200 new channels were created shortly thereafter, attracting 60 million unique visitors.

“When you speak to people” Robbins says, “the number one thing they want is to be famous. They don’t even know for what.”

The desire for fame isn’t particularly new, but what’s interesting is that it’s spread beyond it’s historical anchors in acting, music and the arts. Today, a huge percentage of entrepreneurs state that “Becoming famous for what I do” is a primary business objective.

And, as an interim goal, there’s nothing wrong with that (although it does magnify one problem, as I’ll discuss in a moment.)

Being famous certainly does enable you to break out from the pack. It offers you an opportunity to un-commoditize your business, and provides the warm fuzzy feeling of being known for your expertise. All of that is good.

But…as Shark Tank’s Mr Wonderful, Kevin O’Leary would say, “How are you going to make any money from it?”

And this is where the pursuit of fame for business purposes, so often goes off the rails. People focus on becoming famous first, figuring that once they’re famous riches will follow.

Which seldom occurs.

So what’s the better strategy?

Build out your income generating funnel first, and then pursue getting famous in your particular niche. (A strategy of trying to become famous to everyone, just really isn’t possible in the business arena unless the Donald Trump-Martha Stewart stars aline for you.)

So what do I mean by generating an income funnel first? The idea is to get prospective clients entering the funnel, and then, depending upon their interests, proceeding through various steps. Typically there are a number of “offers” made along the way.

So, let’s compare two consultants, both of whom have worked hard to become famous.

One is famous, and that’s pretty much it. Perhaps a prospective client will google her, find her website and call her up. That all can conceivably happen, but what happens when the prospect comes to the website, plays around on it for a few minutes, and then leaves?

Not much of anything. Especially in terms of making money.

Now, let’s compare that to the instance in which the consultant has built out a sales funnel prior to doing all the work for becoming famous.

Prospective client comes to this website and what are they immediately hit with? Interesting white papers, reports or videos that address some of the crucial questions prospects have. Or, interesting nuggets of information that prospects who are interested in this topic want to learn about.

One seller of perfumes online knows that the biggest questions prospective buyers have is, “How do I know what I’m buying is real?” (And this is an issue for anyone selling luxury goods.) Thus, when you visit his page there’s an interesting video that teaches you how tell if you’re getting the real stuff.

Which you have to opt-in for.

That’s the beauty of lead magnets (the free reports, white papers, ect) since they shift the relationship from “casual visitor” to “engaged prospect”. Now the challenge is to move “engage prospect” to become “enthusiastic buyer” and we do that with various offers (depending upon your business) along the various stages in the sales funnel.

Now, we can actually make some money.

But, the key is to set up this funnel before you invest the money, time and effort into becoming extremely well known for what you do.

As YouTube and other social media channels proliferate and we each carry in our pockets a means to watch video at any time, the opportunity to become  famous increases enormously (as of course so does the competition). We hear about the importance of content in differentiating ourselves and having an identifiable “voice” for what we offer. That’s all true, and it’s very important that we do everything we can to break out of the pack and become well known to those who can hire us or refer us business.

And in all candor, while literally anyone can do that, it does require hard work, commitment and effort. All of which underscores the importance of, before you embark on the journey for becoming very well known, make sure you have in place the backend process…the sales & marketing funnel…that will ensure you make money off of your fame.

Food for thought

Mark

Want me to personally grow your business for you?

Mark Satterfield, Gentle Rain Marketing — Author , Marketing Consulting Expert, Lead Generation, Business Development, Marketing Strategy, Get More Clients, Increase Revenue — Click here for his Facebook Twitter LinkedIn YouTube

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Mark Satterfield, Gentle Rain Marketing -- Author , Marketing Consulting Expert, Lead Generation, Business Development, Marketing Strategy, Get More Clients, Increase Revenue -- Click here for his Facebook Twitter LinkedIn YouTube

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