What Is Your YouTube Strategy?
Written by Dave Lorenzo on May 8, 2019 / Video
Each December I do an analysis of my client relationships. Among the criteria I use to measure relationship strength are: Dollars Invested, Referrals, and Compliance (if the client does what I recommend). I cross reference these key performance indicators with client acquisition.
In December of 2018 I had ten full years of data to use for this analysis (although I started my business in 2006, it wasn’t until 2008 that I focused on it full time and kept comprehensive records). There were three startling conclusions that leapt off the spreadsheet and punched me in the face.
First: My clients with the highest lifetime value came as a result of watching YouTube videos.
My assumption was always that the best clients came via referral and, admittedly, referrals were a close second in client lifetime value (more on that in a minute).
I make videos that cover specific topics. People search for these topics (and solutions to problems) and they watch the videos. Then they watch more of my videos. Then they watch all of my videos. Then they invest in me. How do I know this is the process? Because when I saw this data, I called folks and asked them.
Here’s what I found:
At first the clients wanted a solution to a specific problem. Then they realized the problem was more complicated than they initially thought. They wanted to reach out for help but they didn’t know if they could trust me. So they watched more videos – sometimes over the course of hours, or days, or weeks. Once they watched a few HOURS of video, they became more comfortable with me and my candor, and they reached out to me.
It wasn’t uncommon to hear that people watched over 100 of my videos before calling me.
Second: People who became clients as a result of a YouTube search or as a result of watching my videos were 14 times more likely to refer me to someone else.
This blew me away.
My average clients refers me to one person per year. And that’s great because I have a high conversion rate among referrals. But the client who originated from YouTube refers me, on average, 15 times per year. These referrals include speaking engagements and publishing opportunities.
The way these referrals develop is also interesting. My client will often send the referral prospect to YouTube to review my videos and then introduce them to me. My credibility is through the roof with these prospective clients from the minute they call.
Third: Compliance is better among the people who come to me through YouTube.
I have no hard data to support the conclusion I draw about this but I do have a hypothesis.
People who watch YouTube are often action oriented. Think about it: If you search YouTube for a cake recipe, you’re going to bake a cake. If you search YouTube for “How to change a battery on a Honda Pilot” you’re not doing so for pure entertainment.
People who search YouTube for “How to get clients as a lawyer” or “How to make sure sales training works” are looking for someone who will show them what to do and how to do it. That’s my business. So when they work with me, they welcome action-oriented suggestions and they act upon them.
Why This Matters for You
You and I are in similar businesses. You’re an expert delivering services in return for financial compensation. You need a YouTube strategy. People are out there, right now, searching for you. Help them find you.
If you don’t know where to start, call me and we can work together to make this happen. Invest $15,000 in working with me and it will return at least $150,000 – that’s the smallest return on investment I’ve provided to my compliant clients – people who listen and act on my advice – in the past 10 years. One of my clients (a professional services company with offices in 12 cities) has invested over $300,000 per year in my services for several years. Their return on investment to date has exceeded $18 million.
Here’s my phone number: 888.444.5150
Still not convinced? Watch a few videos: https://YouTube.com/DaveLorenzo