We recently got a chance to talk to Parker Severson and Stacy Perry of Very Pink. They make knitting instructional videos for YouTube, which leads viewers to their website, VeryPink.com, where interested viewers can go buy the patterns Stacy uses in the videos. The monetization of such a site is one that more and more businesses are learning about every day: provide knowledge in a subject you are an expert in, and sell your business based on your expertise. It's a model that many aren't too sure about, but it's all about providing and proving value before selling your products.
ReelSEO Interview with Very Pink
Recently Very Pink was named as YouTube Marketing Ambassadors, those who have used YouTube to promote entrepreneurship.
Here's the interview:
Very Pink started doing videos as supplements to knitting classes, but found a potential business model in online video. It goes to show that with your unique knowledge on a particular topic, there are a great many out there who would be interested to see what you can teach them. As we've mentioned many times, "How-To" videos are in tremendous demand.
Early on, Stacy sold patterns that were not being demonstrated in the free videos, and the idea was that people would pay to watch the video. She learned that by demonstrating knowledge on a specific pattern, people were more likely to buy the pattern from her, rather than pay to see the video instruction. Thus, the entire business is based on showing the pattern and sending people to the website to buy the pattern.
Very Pink does get some revenue from advertising, but most of it comes from driving traffic to the website, selling patterns and e-books.
They also use AdWords for Video, and the ads cost them up to 3 cents each. This is because they don't have much competition and are working in a niche business, something that Parker says, "I don't have to do any ROI to figure out that if we send 100 visitors to our website, that's going to cost us 3 bucks. Is it worth it? Yes."
As for the videos themselves, Parker says they don't have to be TV-quality, just adequate and gets the message across. It helps that Stacy is an expert in what she does, so shooting the videos aren't difficult at all. With over 200 videos produced, they have it down to a science. They are lucky in that way. But those just getting into video should realize that practice makes perfect and after producing regular videos, the process becomes amazingly easy.