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Business lessons from YouTubers: the modern entrepreneurs

  • By Jennifer Dawson

    Northern Ireland’s tech start-up industry has experienced huge growth and success over the last few years. Start-ups rose by 16% in 2018 as a total of 6,855 new businesses emerged, the Belfast Telegraph reports.

    YouTube, in particular, is an increasingly promising pathway to business success — Seán McLoughlin, an Irish YouTuber, earned a whopping €14 million between June 2017 and May 2018. It turns out YouTube stars can teach the business world important lessons on how to achieve long-term success.

    Maintain a long-term perspective

    Success doesn’t just happen overnight. Vloggers typically build up their audiences over time — and this requires persistence, dedication, and hard work. For example, beauty YouTuber, Fleur De Force, had to put in years of work to build a significant audience (1.4 million subscribers). “It’s been a slow progression for me” De Force explains. “I started six years ago and the growth of my audience has been steady throughout, which is what I hope to continue in the future”.

    Steady growth is key to building and maintaining an online presence, as well as growing a loyal following. “So basically — you’re not the Pied Piper, followers won’t come flooding immediately”, De Force says. In business, linear growth seldom happens. Ups and downs are natural. Focus on gradually building a strong foundation for your business over the course of three to five years. Bear in mind it can take ten years for success to come. 

    Engage your audience

    Successful vloggers maintain a high engagement rate — they’re constantly communicating with their subscribers. On YouTube, engagement is measured by subscribers, likes, dislikes, commentsand shares. A high engagement rate is picked up by YouTube’s algorithm and pushes your videos higher up in the search results. Getting instant feedback also allows you to tailor your content around what your fans want. Businesses can use YouTube as another marketing channel to showcase their brand and grow their customer base. Since viewers can naturally be lacking at first, it can be helpful to purchase comments to improve engagement rate and boost visibility. Commenting back and forth with your subscribers is crucial for building a solid fan base and ultimately growing your business. 

    Be authentic

    Successful YouTubers highlight the importance of being authentic. Most vloggers started out creating content about things they’re passionate about without being focused on carving out a career on the platform. “When the vloggers started out, it wasn't because they saw a gap in the market or had a business plan,” explains Dominic Smales, founder of Gleam Futures. “It was created purely as a creative outlet rather than any specific game plan and that gives rise to the enormous credibility to their output,” he adds. In an increasingly virtual world, people are looking for authenticity, transparency, and honesty more than ever before. Make sure your business has a purpose beyond simply making money. Get clear on your core values and weave them into every aspect of your business to win customers.

    Persistence, audience engagement, and authenticity; these smart tips from vloggers have the potential to greatly benefit business people and leaders. Incorporate these tips into your business plan and you’ll be on your way to success. 

     

    Jennifer Marks is an experienced freelancer writer and editor, whose former career lay in supporting small to medium size businesses with their marketing. She is passionate about the effective use of social media for business and sharing her experiences in the marketing sector. Follow her on Twitter here. 

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