Last updated on March 13, 2020
We all want that recurring income.
It means we do something once – and earn forever.
Video services are one of these offerings that can generate recurring income.
But we need to know what to do.
Offering video services as a recurring income looks easy from the outside.
You just tell people they can earn a stack of cash.
Then deliver it.
But there is a lot of competition.
People are doing the same as you.
Trying to offer a multitude of services to people.
So, let’s look at how you can be different.
But, before we go any further, a quick note about price.
The amount you charge should never be the way you differentiate.
Cutting prices is a short-term strategy.
And it leads to long term pain.
Don’t go there.
You start a race to the bottom.
The next guy cuts their price.
Then you drop again.
Before you know it, there isn’t a profit in it any longer.
Your prices should reflect your time and expertise.
And unfortunately, your level of confidence which may not be too high if you are getting started.
That said, don’t undersell your talent.
Enough of that.
Let’s move on.
What makes you different?
Let’s look at how to offer video services as a recurring income.
Who Are You Speaking To?
- 1 Who Are You Speaking To?
- 2 Where Are These People?
- 3 A Real Success Story
- 4 Selling Video Services
- 5 What To Sell?
- 6 What Is In It For Them?
- 7 Selling To Businesses
- 8 Good Niches For This?
- 9 Who to Avoid?
- 10 Selling The Google video carousel
- 11 What are Other Recurring Income Elements?
- 12 Pulling It All Together
- 13 In Summary
This should be the first step in anything you do.
Know who you want to speak to.
We suggest you work it out in detail. Look at –
- Where in the world are they?
- What age or age range are they?
- What are their interests?
- Where do they hang out?
Be as specific about this as possible.
Looking to offer video services to anybody will end up in you finding nobody.
Your skills will help here.
As will your experience and passions.
If you have a passion for/expertise in sports, then looking for people or businesses linked to sports is a great target for you.
Think about what makes them tick.
Now, let’s find them.
Where Are These People?
We’ve already touched on this.
Where do they hang out?
That’s the killer question.
You are looking for someone specific.
Now you can target them.
There are many ways of finding people.
It’s called marketing.
Think about the different ways of doing this –
- Social media
- Email marketing
- Cold calling
- Asking for referrals
- Face to face meetings
Don’t look for a magic bullet.
Each of these has pros and cons.
Some of these will work for you.
Try one or two and perfect them.
A Real Success Story
A friend of mine has an Uncle who currently runs a multi million dollar human resources company in Asia.
To get his start, he would cold call.
He got nowhere as he did not have any testimonials.
You need testimonials to get started but you need to have success.
What did he do?
He went onto a freelancing site and paid a few hundred bucks for someone to ghost write a book.
Cut a long story short, he was now an ‘author’.
And that one act meant the next time he walked into a meeting, he presented himself with more authority and got a contract.
I mean, this guy had now ‘written a book.
The rest, as they say is history.
I actually interviewed his nephew.
It’s an hour long and x-rated but you can check it out here.
Now you have zero excuse on the lack of experience front.
Selling Video Services
As you are looking at selling video services, this would be the best place to start.
If your videos look great, people will buy.
If your videos are snappy, people will buy.Use your video to attract people to your video services. If they buy from you, then they know the power of your work. Click To Tweet
This is by far the most important part of this whole article.
Make sure you know where to go to find your prospective clients.
Just slapping it on YouTube might feel right.
But it won’t necessarily attract the desired interest.
It has to be relevant, useful, entertaining, etc, etc.
Put your best sales hat on.
It is time to attract new clients.
What To Sell?
There are some basic sales ideas.
They transform what you do here.
We’ll break them down into steps that can be applied to whatever you might sell.
Don’t sell features.
If you let people know what the video is, they will be interested.
To a point.
If you let them know what the video does, they’ll eat out of your hand.
Selling benefits rules.
If people know what the video does, they buy.
Tell them that your video makes recurring income.
Tell them why.
It will help them picture the benefits.
People want a shiny new car.
They want a holiday.
They want cash in their bank account.
And companies want more customers (through phone calls and leads)
The people you speak to, most of them won’t want video at all.
Here, they say questions are the answers.
Find out what people want.
And explain how your video services can help get them there.
One video that I have that ranks in Google and YouTube reviews Content Samurai (a Video creation software) and talks about the benefits (and some features admittedly).
This is a 4 figure recurring video that once done and ranked, is set and forget for the most part.
Speak their language.
If your target market is 50+ then don’t speak street slang.
It sounds simple.
But so many people fall down here.
Think about who you are targeting.
The simplest way of doing this is to target people like you.
You know their pain points.
You understand their needs.
They act like you.
Talk like you.
Think like you.
It is far easier to look in the mirror than try to walk in someone else’s’ shoes.
Keep it simple.
There are some complex sales messages out there.
Sales videos that tie people in knots.
Guess what happens?
People don’t buy.
They click away.
You lose them.
A simple message put across well is gold dust.
Explain their pain point.
Then tell them how you can relieve it.
The response will be overwhelming.
If you get it right.
And that leads to our next step.
Adjust, adjust, adjust.
There isn’t a magic formula.
You might get it right first time.
But you might need to adapt to thrive.
Think about the kind of performance you want.
If it doesn’t match that, then make a change.
Measure the impact.
If it’s positive, keep it.
If the change brings negative results, then change it back.
Try something else.
You can try split testing.
This is also known as A/B testing.
Set up two videos.
See which one works best.
This will help you decide.
And will improve your skills.
Remember all the work you do here helps.
You understand what works better than ever before.
What Is In It For Them?
Your prospects want to know the answer to this.
Most of us do.
With anything in life.
Provide the answer to this and open doors.
People want to understand what you offer.
If this is recurring income, then explain it.
Recurring income can mean something different to different people.
To some it is a nice little extra.
To others it might be the cash to fuel their dreams.
Let people know what it is all about, by –
- Showing them what you have done before
- Giving exact facts and figures to back this up
- Telling them about timeframes
- Getting an idea of their budget
- Tailoring what you do to all of this
It can take time.
But once you’ve done this a few times, you will get it.
See it like a sales pitch.
When you want people to buy from you, let them know why.
The killer word here is ‘because.’
Videos produce recurring income because…
Video works because…
You can make money here because…
People will read this and know what it means to them.
The word ‘because’ is one of the most powerful words in the English language. Use it.
When people know what’s in it for them, they buy.
The bottom line is the bottom line.
But go a step further.
Selling To Businesses
You will find more than one buyer.
In fact, they fit quite nicely into two categories –
Let’s take a look.
The first category has benefits and downsides to target.
Firstly, there is a fair chance they already have a business, then they already have an audience.
Tapping into this is the key to recurring income.
This is what most people don’t get.
The audience is the key to success.
A business can already have one.
Before you get the chance to sell to a business, understand their audience.
See where they are already active.
Is it social media?
Is it their website?
Wherever it is, take a good, long look at the audience.
You can see what is working – and what isn’t.
From there you can see what will generate recurring income.
Good Niches For This?
If you decide to try your hand at selling to local businesses, do not try and recruit half your town.
Stick to one or two primary niches and get to know the ins and outs of the industry.
As your confidence grows, you can expand.
Some good niches are (but not limited to):
- Wedding Related
- Cosmetic Surgery
- Real estate
- Make up artists
- Travel Related
Now if these people already advertise and their customers have a high lifetime value you are onto a potential winner.
Who to Avoid?
Stay clear of people who:
- Ask for a discount off the bat
- Offer deals rather than cash
- Require daily reports
- Want performance based results
More often than not, these client are more hassle than they’re worth.
There’s more on this later.
And take these lessons with you.
Build your own audience.
Speak to business owners wherever you can.
Understand their needs and wants.
Selling To Individuals
The other main market you might be selling to is the individual.
There are people out there looking for recurring services related to video.
Again, video should be the first place you start.
Having video shows off your skills.
You want people to crave what you make.
But, where do these videos sit?
Your website, YouTube, Vimeo and others are perfect places to showcase what you do.
Get your site looking great.
Make it mobile responsive
Ensure it has a security certificate
Spend time (and maybe money) perfecting it.
It’s your shop window.
Then look for people.
Social media can drive traffic your way.
Show off what you can do.
Connect with people who might want to buy from you.
Use the profiling you did earlier to know who to connect with.
There is always the paid ads option.
Social media sites allow you to segment your audience.
You can then target the right people.
In the right place.
At the right time.
And there are also paid ads by the search engines too.
Google, Bing, Yahoo and the others let you target searches.
You can be at the top of the first page – if you pay.
Now, the biggest search terms are competitive and expensive.
But there are niches that have low competition and cost very little per click. They say that there are riches in niches.
It’s absolutely true.
Look at the target audience, your passions, etc (basically back to the profiling we looked at earlier) and use the Google Ads Keyword Planner to work out the small niches that work for you.
Selling The Google video carousel
You may have noticed that for some searches, Google will display videos at or near the top in what is called the Google carousel.
Just like this example:
The term ‘Diving in Palau’ gets 400 searches per month.
If you are a dive company in Palau, then getting one (or all) of these 3 video spots is prime real estate.
It’s akin to old school billboard advertisements.
While it goes beyond the scope of this post, if you can deliver on getting into these spots, then you have the ability to charge companies that would want these spots a premium recurring amount.
Like all these things, the amount is relevant to the life time value of a customer.
A customer to a cosmetic surgeon is worth more than a customer to a hairdresser.
The former will also have deeper pockets.
What are Other Recurring Income Elements?
If you are new to this then you might be asking the above question.
How do I create recurring income with video services?
There are a few different ways that you can do this.
The aforementioned Google Carousel example is one.
Think about what you can offer…
What Video related services can you offer?
+ Video SEO
+ Video Related software: This is one Paid to get made and ‘could’ charge monthly for.
+ Funnel Creation
+ Video Sales Letters (VSLs)
To get started you can offer to make a review video of a business for $47-$197
Blue Ridge Cafe review
Simply Weddings Review
Next Level Offers You Can Provide:
More professional video(s) along with traffic.
You can run Paid YouTube and/or Facebook ads to this video.
- 30-90 second video with script
- Revisions until satisfied (stick to a small number)
- Text on screen/captions
- Background music (royalty free of course)
- YouTube channel upload and management (your channel, not theirs).
This next level video will not be a review, but a showcase of their business so the title is simply the business name.
Nene Digital Weddings
Smith’s Pest Control
Best Western Hotel Nagoya
Once you have your video made for your client you can charge for SEO but you can also charge for paid ads and run traffic to it.
Depending on the niche you may find YouTube to be preferable to Facebook when it comes to paid ads or vice versa.
Nothing stopping you from exploring other social media either.
This will depend on your own skillset/confidence plus the niche in question.
Some niches will have more traffic on Facebook than YouTube.
Facebook also has some fantastic targeting.
As for the actual traffic. $5 to $10 per day max as that is all you’ll need to get views.
Offer to run ads and charge for:
- Ad setup
This may include include:
- Fan Page Set up
- Landing page set up
- Pixel Installation
- Setting up the ads
- Monitoring and optimization
- Views that the ad delivers
- Retargeting set up
Still not sure what you charge per video?
Again, this comes down to the confidence/skills you have, the type of video and how many they want.
You can give a 10% discount if they want to order multiple videos for example.
A pro video from a videographer will cost MUCH more than one made on Content samurai.
Charge what you feel comfortable with.
If you have a good sales pitch then you’ll be able to charge more.
I wouldn’t want to do a proper decent showcase video for under $500 BUT if I used Content Samurai or something similar I would probably have to accept less.
A decent showcase video means you or a pro films on site and edits the whole thing too.
Pulling It All Together
There has been a lot of information in this article.
And you might need to re-read to ensure you have it all.
Here are the most important points, bulleted for your convenience –
- Know who you want to speak to
- Profile them so you understand their needs
- Understand where they hang out
- Know what you are selling
- Explain the benefits – to them
- Segment selling to business form selling to individuals
- Get a grip of what makes recurring income
Have all of these elements in place.
Don’t be paralysed by inaction.
There is money to be made here.
For you and your clients. Recurring income is a dream for many.
If you have the skills, you can make this dream come true.
We wish you the best of luck with this.
The doors will only open if you knock on them.
Now is the time to start building.
Get this together and success is just around the corner.
Making video is loads of fun.
It is a great way to make a living.
As you can now see, there are many ways to offer video services as recurring income from video creation, to SEO, to running paid ads.
You can sell to local companies or individuals.
And you can outsource much of the process.
I have 7 softwares that i offer to members of Video Marketing Insider.
Yet I cannot write a line of code.
I simple pay people who can.
It’s out of my comfort zone, but just like the guy I mentioned who got a book ghostwritten, that is where the magic happens.
And with it will come more confidence.
Get to work.
PS…If you liked this post on video services as recurring income, please share it with anyone who may get value from it.