How to become rich with social media (my exact playbook) — Transcript

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1. 0:00What type of content should you make
2. 0:01that makes the most money? Not
3. 0:02necessarily gets the most reach. And so,
4. 0:04I've hit grand total 3 billion
5. 0:06impressions last year. We gained over 4
6. 0:08and 1/2 million subscribers. And we did
7. 0:11that making 35,000 pieces of content.
8. 0:13And just to give some validity to the
9. 0:15Mikey money part, we did over $106
10. 0:17million in sales in a single weekend at
11. 0:19my book launch. And a big reason for
12. 0:22that was because of the content
13. 0:24strategy. And so, I want to outline high
14. 0:26value, high ROI content strategy, which
15. 0:28I think is different than what the vast
16. 0:30majority of people are telling you to
17. 0:31do. FYI, I'm also going to show you our
18. 0:32behind-the-scenes data of the videos
19. 0:34that made the most views. That one's
20. 0:35public. And more importantly, the videos
21. 0:36that made the most money. And guess
22. 0:37what? They're not the same. Number one
23. 0:39is we have to answer the question like
24. 0:41why do you make content to begin with?
25. 0:43If you are somebody who makes content to
26. 0:45sell as a media company, meaning you
27. 0:46want to sell sponsorships and things
28. 0:47like that, then you indirectly want to
29. 0:51get buyers because you're getting buyers
30. 0:52for your advertisers who are paying you
31. 0:54dollars for ad spots, right? But the
32. 0:56vast majority of time, advertisers don't
33. 0:58know how to properly price media. And
34. 1:01so, they basically just go off of
35. 1:02audience and views. And so, when that's
36. 1:05the case, you are incentivized to just
37. 1:06get as many views as possible cuz that's
38. 1:07the business model. But the vast
39. 1:09majority of people who are making
40. 1:10content are not trying to build media
41. 1:12businesses. They're usually trying to
42. 1:13build businesses and use media as a way
43. 1:15to get customers. And so, if that's you,
44. 1:17then pay attention. So, number one, I
45. 1:20remember when I had my biggest belief
46. 1:21broken around this is there was a girl,
47. 1:24lady,
48. 1:25uh who had less than uh 5,000 or less
49. 1:27than 6,000 followers on Instagram. And
50. 1:29she was doing over a million dollars a
51. 1:31year just from that. And I was like,
52. 1:34this is crazy. When I looked at her
53. 1:35account, she was getting like nine
54. 1:36likes, 18 likes, 20 likes on a big post.
55. 1:39And all she talked about was being a
56. 1:40registered dietitian. And how to bill
57. 1:42insurance as a registered dietitian. So,
58. 1:43there was nothing about weight loss,
59. 1:44nothing about about the the how to how
60. 1:46to be literally just billing. And it was
61. 1:48so niche. I was like, how's this making
62. 1:50money? But the thing is is that I can
63. 1:51guarantee you that of the 5 or 6,000
64. 1:53people who were following her, almost
65. 1:54all of them were registered dietitians
66. 1:56who were trying to bill a church better,
67. 1:57right? And so, I decided to put this to
68. 2:00the test. And so, I've done two tests on
69. 2:01this in my career. One I did, uh I think
70. 2:0418 months ago, where for one quarter we
71. 2:06made more top of funnel stuff. Cuz the
72. 2:08idea was if we make bigger, broader
73. 2:10content, we're going to get more overall
74. 2:12people, and then even though it'll be a
75. 2:13smaller percentage, it'll be a bigger
76. 2:15absolute number of the people in that
77. 2:17bigger net that are going to be kind of
78. 2:19whales or our customers, right? And so,
79. 2:21after doing that quarter, what was
80. 2:23really interesting is that we we broke
81. 2:24all of our views records. Uh and so, all
82. 2:27the numbers, like all the vanity metrics
83. 2:28were going up. The problem was book
84. 2:30sales were down, leads were down,
85. 2:32portfolio company applications were
86. 2:33down. And so, all of the the metrics
87. 2:34that I care about for the business were
88. 2:36down, but all of the metrics that other
89. 2:37people talk about for media were up. And
90. 2:39so, I had to make a decision of like
91. 2:41what kind of, you know, creator am I?
92. 2:43And for me, I'm about the business. Like
93. 2:45that is why I made it, right? That's why
94. 2:47I started doing this to begin with was
95. 2:49because it's a great way to build trust
96. 2:51with an audience, deliver value, and
97. 2:52just overall just grow. Now,
98. 2:56I then, because I apparently like to
99. 2:57learn the same lesson multiple times,
100. 2:59decided to do another version of this
101. 3:01more recently. So, I wanted to show you
102. 3:02something really, really cool. And so,
103. 3:04check this out.
104. 3:05Now, I almost never make content that's
105. 3:07not about business in general. And
106. 3:09that's just because like I like
107. 3:10business, and so that's what I make
108. 3:11content about, okay? And it's also where
109. 3:14I think I have authority. I don't have
110. 3:15authority in other spaces, I don't
111. 3:15really talk about it so much. Now, these
112. 3:17six videos that you see here are the top
113. 3:20most viewed videos over the last
114. 3:22quarter. All right? And you can see 1.2,
115. 3:241 million, uh you know, 800k, 500k,
116. 3:26500k, 3 350, okay? So, these are most
117. 3:28viewed videos. So, what's interesting
118. 3:30about these videos is they made
119. 3:33no sales.
120. 3:34Think about how wild that is.
121. 3:36Zero. None. Now, what are these videos
122. 3:40all about? All of these are, I would
123. 3:43say, beginner oriented. And that's
124. 3:45because I have a little bit of a um
125. 3:47a personal mission on that side, which
126. 3:49is
127. 3:50like the reason I write these books
128. 3:52is because I always wanted someone to
129. 3:56show me how to do things better than I
130. 3:58feel like I got help on. And so I try
131. 4:01to make this content to help somebody
132. 4:02else out. Um and for whatever reason, it
133. 4:05makes me feel like I'm making some sort
134. 4:06of impact, which when I'm alone at night
135. 4:08looking at the ceiling, it makes me feel
136. 4:10a little better. All right. That being
137. 4:11said, from a business perspective, let's
138. 4:13look at which videos actually generate
139. 4:14the most revenue.
140. 4:16So, number one most revenue video. This
141. 4:18was a 270,000 1,000 video. And I'll tell
142. 4:21you this, when I made this video, I was
143. 4:23like, this video is so good. I was like,
144. 4:25I love it. It was my favorite
145. 4:27video of the whole quarter. Uh which by
146. 4:28the way, you should check it out. I
147. 4:29think it's awesome. But, it's
148. 4:31purely about like how where the money
149. 4:33is, how to make it, how to segment
150. 4:35customers, and like the real stuff that
151. 4:37makes money in a business. But, by its
152. 4:39very nature, it tends to talk to people
153. 4:41who already have businesses, right? And
154. 4:43not just like smaller businesses, enough
155. 4:45that you can like segment customers,
156. 4:46right? And so, it's by definition going
157. 4:49to have a smaller viewership because
158. 4:51only 9% of people in the United States,
159. 4:52for example, have businesses. And of
160. 4:54those 9%, that's people who like have
161. 4:55LLCs, including like your hair stylist
162. 4:58and your nail salon girl. To be clear,
163. 4:59nothing wrong with that. It's absolutely
164. 5:00a sole proprietor business, and there's
165. 5:01going to be more of them. But, in terms
166. 5:03of what this is going to impact more,
167. 5:05and it does work for that business as
168. 5:06well, but they might not have the data
169. 5:08to to really utilize it. And so, even of
170. 5:10businesses that are doing over, let's
171. 5:11say, $100,000 a year, all of a sudden
172. 5:12you take that 9%, cut it by probably
173. 5:142/3, right? So, it's a very, very small
174. 5:16percentage people who the content that I
175. 5:18make at the most viable level applies
176. 5:20to. Real quick, I'm going to show you
177. 5:22the exact 10-stage roadmap from zero to
178. 5:24100 million plus
179. 5:26that less than 1% of companies finish
180. 5:28I've now done multiple times, and so I
181. 5:30can say with a lot of confidence that
182. 5:31these are the stages, as head count
183. 5:33increases, that you need to get through.
184. 5:35And I broke each of these down by eight
185. 5:37different functions of the business,
186. 5:38what the constraint feels like, like
187. 5:40what are the symptoms of it when you're
188. 5:41going through it, and then what steps we
189. 5:43actually took to graduate. And we've
190. 5:44done this across software, physical
191. 5:46products, uh service businesses, brick
192. 5:49and mortar, all of this and it works.
193. 5:51And it's my gift to you. It's absolutely
194. 5:52free. And so, the link's in the
195. 5:54description, but you just go
196. 5:55acquisition.com/roadmap.
197. 5:57Just enter your info and it'll spit it
198. 5:58right back to you all free. And so,
199. 5:59these other two videos
200. 6:01were episodes of what we're calling Cash
201. 6:03Cows, which we're going to have a new
202. 6:04version coming out soon,
203. 6:06uh that we're calling something
204. 6:07secretive, which I'll tell you later.
205. 6:08But, this is me going deep with
206. 6:09businesses that are all multi-million
207. 6:10dollar businesses, right? And so, these
208. 6:12have, you know, 100,000 views, 250,000
209. 6:14views. So, like, not super high view
210. 6:16counts, but these are the ones that
211. 6:18generated the most revenue. And so, the
212. 6:20reason this is so important is that the
213. 6:22algorithm will give you the wrong signal
214. 6:24for your business. And so, the algorithm
215. 6:26will tell you what the most people like,
216. 6:27not the most valuable people like. And
217. 6:30so, if you think about it, I would
218. 6:31honestly encourage you to just watch the
219. 6:3351 to 1 rule video because it actually
220. 6:34takes this idea of where, like, if you
221. 6:38transpose money against population, you
222. 6:41realize visually how disproportionate it
223. 6:44is. And so, you're trying to fight for
224. 6:46this 50% of the audience that has $2,
225. 6:48whereas the other 50% of the audience
226. 6:51has $98, right? A lot more. And so, this
227. 6:54is where the mistake is happening and
228. 6:55people are taking the views as their
229. 6:58signal for what their media strategy is
230. 7:00going to be. And as somebody who's made
231. 7:02this mistake multiple times because it's
232. 7:04hard to it's hard to pull yourself back
233. 7:06because it's like, wait, but what if I
234. 7:07have a video that is generate revenue
235. 7:09and it's the right type of video and it
236. 7:10gets a lot of views? It's like, well,
237. 7:11that's Nirvana, right? That's what we
238. 7:12call qualume, right? That's quality and
239. 7:14volume put together. But, if I had to
240. 7:16pick between both videos, I would
241. 7:18obviously want to pick the one that
242. 7:19generates revenue. So, then the next
243. 7:21question is, okay, well, are there
244. 7:23videos that are called, you know, top of
245. 7:24funnel, that are videos that kind of
246. 7:26bring people into your world, and then,
247. 7:28uh videos that kind of like middle
248. 7:29funnel, bottom of funnel, that kind of
249. 7:30convert those people. And so, I think
250. 7:32the answer is yes and no. We want to
251. 7:34make videos that apply in terms of value
252. 7:37equally to people at all stages in
253. 7:40business, which is different than only
254. 7:43having something that's valuable for
255. 7:44somebody who makes over a certain
256. 7:45amount. And so, if I'm going broad, I
257. 7:48still want what I'll call vertical
258. 7:50value. I want the starter and the $100
259. 7:52million guy to both be able to get value
260. 7:55from this video. Whereas, if I'm talking
261. 7:57about how to go from 1 to 10, I know
262. 7:59that video is going to absolutely tank,
263. 8:01but it's going to bring people who are
264. 8:02between 1 and 10 million or looking to
265. 8:04get to 10 or 20 and beyond, and that is
266. 8:07going to generate significantly more
267. 8:07revenue because they have more buying
268. 8:08power. Even if the numbers are smaller.
269. 8:11And so, I would encourage you to do a
270. 8:13little bit of a challenge. And so, on
271. 8:15that point of this verticalization of
272. 8:17value,
273. 8:18this four best revenue generating video
274. 8:20is kind of a good example of that, which
275. 8:22is
276. 8:23if I'm talking about how the 1% actually
277. 8:25think about money, people who are the 1%
278. 8:27can still get a lot of value in terms of
279. 8:29like what I'm talking about in the
280. 8:30video. And also, somebody who's brand
281. 8:32new could get value from the video as
282. 8:33well. And so, that's kind of a video
283. 8:34that's like it generates dollars, but it
284. 8:37also gets views. And see, it has it has
285. 8:38more views than the top 1 2 3 do, right?
286. 8:41And all the way at the end there, that
287. 8:43video is literally just a straight Q&A
288. 8:46for service businesses,
289. 8:48but it's still generating the sixth most
290. 8:49revenue out of all videos that we made
291. 8:51over the quarter. So,
292. 8:54this is my challenge to you. If you are
293. 8:55afraid of making kind of deeper, more
294. 8:58advanced content, do not be. And do not
295. 9:00think that when you get low views, you
296. 9:03are somehow, you know, disserving your
297. 9:06audience. You're serving a different
298. 9:08audience. And the algorithm has gotten
299. 9:10so good at transcribing and knowing
300. 9:12exactly what you're talking about that
301. 9:13they will serve it to only those people.
302. 9:15But you have to remember that there's
303. 9:16far fewer of the most valuable people
304. 9:19than there are of the least valuable
305. 9:20people. And so, if you have any concepts
306. 9:22of business strategy, the idea is you
307. 9:24want to serve you either have a business
308. 9:25that you want to serve everyone for as
309. 9:27low cost as possible, then that's a
310. 9:29Walmart strategy. Nothing wrong with
311. 9:30that. It's a very hard business to run,
312. 9:31but you can absolutely do it if you
313. 9:32start with that day one. Or what a lot
314. 9:35of people who get into services do
315. 9:36because it's significantly less scalable
316. 9:38is they go for the higher end of the
317. 9:39market because that's where the money
318. 9:40is. If you want to get more buyers in
319. 9:41your content, you have to make videos
320. 9:43for your buyers. And if you don't know
321. 9:44who your buyers are, you look at your
322. 9:46customer base, you look at the people
323. 9:47who spent the most money, you look at
324. 9:48the top 20%, look at the common factors
325. 9:49they have, look at what messages and
326. 9:51problems they had, and then create
327. 9:52messaging and video topics that solve
328. 9:54the problems that the people with the
329. 9:55most money in your audience had, and
330. 9:58then make content about that. Be
331. 9:59prepared to see your view counts go
332. 10:01down, your subscriber counts go down,
333. 10:04but your sales go up. Yeah, and from a
334. 10:06tracking perspective, we just put UTMs
335. 10:08um on the links that were below the
336. 10:10descriptions in the videos, and I'd make
337. 10:12CTAs inside the videos to take the next
338. 10:13step of whatever kind of lead magnet,
339. 10:15whatever.
340. 10:16Um
341. 10:17and that is how we could see on the back
342. 10:18end how that translated into revenue for
343. 10:20the business.