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Trickle-Down Product Economics

The other day, I was preparing for a webinar on using video to build your online or offline business, and the phrase, “Trickle-Down Economics” popped into my head. Now you may remember that phrase from the political arena as a policy where you give tax breaks (or other incentives) to big business in the hope that the benefits will trickle-down to everyone else. Well, as I thought about that concept and considered the growing use of video, I realized that I could easily spin the “trickle-down” concept into product creation. Here’s what I mean…

Let’s say that you create a 60-minute video…it could be a live action video (like a teaching or training video) or a screencast video (like a Powerpoint presentation) created with Camtasia or GoToWebinar. Your video represents the core product…the starting point for your “trickle.” Of course, with the recorded video, you can create DVDs, streaming video, downloadable files or all three…and that’s where you begin.

Next (and here is the cool part), from that video, you can strip out the audio (Vegas Movie Studio is perfect for this) and create audio CD’s, streaming audio and downloadable MP3s. More “trickle!” The audios can then be transcribed to create print books, e-books, Kindle editions, workbooks, etc. More “trickle!”

It gets better…you can (and should) then take clips from all three media types for the NEXT level of “trickle”…Video clips for YouTube and the other video-sharing sites…Audio clips to be shared as podcasts on iTunes and podcast directories…Text excerpts to be used as blog posts, articles, reports and uploads to document-sharing sites like Scribd.com and HubPages.com. Each pointing back to your main website or blog. Then, you can take THOSE chunks and excerpt them even further as Twitter and Facebook posts, e-zine and autoresponders for your list…I think you get the picture.

All this trickled down from your ONE 60-minute video!

I hope you see the power (and benefit) of this approach, not only from a product creation perspective, but also from an exposure and traffic perspective as well. Take a look at the videos you’ve already created (you ARE creating videos I hope!) and see how you too can expand the reach of your hard work…and without a huge amount of effort. Not only will you increase the perceived value of the products you create, but you will also tap into brand-new streams of traffic (and customers) that will help grow your business! So…get to it!

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