[av_heading heading=’#106. Pioneering and Monetising in New Niches with Conor Clyne from Tsar Experience’ tag=’h1′ link_apply=” link=’manually,http://’ link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” margin_sync=’true’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-kozihgs5′ admin_preview_bg=”][/av_heading]
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Conor Clyne helps high-level western men move between three to twelve months a year to Eastern Europe to 5x their lifestyle. His business, Tsar Experience, includes in-person experiences, consulting calls and courses through Tsar Academy.
What you’ll learn in this interview:
- The challenges involved in pioneering a new niche
- Should you worry when others try to copy your ideas?
- The importance of diversifying your income
- How to figure out the best way to monetise your brand
Conor’s business has grown incrementally rather than kickstarting from a viral video or series. And while YouTube is his main marketing channel, he hasn’t found it easy to work there. But, of course, nothing in Conor’s journey has been easy, which is why success seems so sweet now.
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Why start a new niche?
There are several reasons why you might find yourself creating a new niche in the market.
Overcrowding is one. There could simply be so many brands in the market that you need to find a way to stand out.
Or the established niche may not resonate with your values and passions. Others in the field may be working in a way that doesn’t align with your ethics or personality.
There is no point in doing something that doesn’t feel real or which goes against your ethics. That’s when it’s time to laser focus on your customer and find out EXACTLY what they want.
Conor Clyne created his niche when he found that a large segment of his audience didn’t want real solutions to their problems, and a few didn’t need the “usual” dating that most businesses in the field are selling.
When Conor concentrated on that small group who wanted what he had the authority to provide, Tsar Experience began to grow.
The challenges of pioneering in a niche
There’s no one to copy.
There are no methods that other successful businesses have validated in your new niche, so there are no formulas to follow. It takes a lot of work to get the ball rolling, but once you’re established, your brand can dominate that niche for a long time because you gained authority first.
It takes dedication.
“To be a pioneer, if you’re not passionate about the niche how can you come up with the solution? You’ve got to wake up every day thinking about this stuff.”
You need to have a passion for being the best and for really caring about your clients. If you’re not passionate about it, says Conor, then you’re better off going the “plug and play route” in a crowded niche, where you have validated methods to copy.
Work hard to establish your authority.
It’s vital to show that you know what you’re talking about. It can take a lot of time and content to establish yourself as the go-to person in a new niche.
Conor’s clients will spend a lot of money setting themselves up in Eastern Europe. So, they look to him for advice and help because Conor has proved that he knows what he’s talking about and understands their needs.
How to deal with competition and other people stealing your work
You may find that people in similar niches look at your business and try to copy it once they see your success. However, when people imitate your content and products, they won’t make the same money because they won’t attract your audience. Their niche may seem similar, but the avatars probably differ.
Keep an eye on the competition’s videos and content and call them out when you think they’re wrong or have copied your work. Imitating and improving a formula is acceptable; outright plagiarism is not.
You’re vulnerable with only one income stream
Relying on AdSense for your total income leaves your business very vulnerable to change. What’s more, “many YouTubers leave 95% of the money on the table when they rely on AdSense for revenue, especially as YouTube takes a 45% cut,” says Conor.
When you rely on YouTube to provide all your income, you’re at the mercy of the algorithm and YouTube’s rules. Conor found that out the hard way when Google removed him from AdSense a few years ago. Even though he used his skills as a lawyer to win his case against the ban, he still finds his channel “shadow-bound,” i.e. YouTube doesn’t show his videos to new potential viewers.
What would you do to reach your audience if that happened to you?
Diversify your income
Instead of considering your YouTube channel as your business, use it as your marketing arm instead. The free content you post there establishes your authority and credibility in your niche.
Establish a mailing list so you can communicate with your tribe away from YouTube. Emails allow you to offer more products and services, which give you many revenue streams.
There’s no right answer to the question, “how many subscribers do I need to be successful?” It all depends on the business model. For example, if you rely on AdSense, then you need millions of views on many videos.
But when you have multiple streams of income, you can work with many fewer subscribers.
“To make income you need Traffic, Conversion and a Product that solves a problem.”
With a little bit of traffic but excellent conversion and delivery, you can create a solid and profitable business that’s not reliant on a social media platform for income.
How do you decide on the best way to monetise?
Talk to your customers.
Surveys are a good first step but follow those up with phone calls to selected customers. Dig deep into what people want. Listen attentively to their issues. Ask, ‘what would you want in this type of programme? And listen to how many are saying the same thing.
Screen out the “noise” from those who are not your ideal avatar.
Conor realised that a large segment of his audience wanted unrealistic dating and marriage options.
However, his ideal customers were more interested in living the lifestyle shown in his videos, so he built his products to serve those people.
The deeper you go, the higher-level problems you’ll uncover.
Your products should then offer real solutions to those problems and should be priced to reflect their value. Then, when you charge more, your customers will trust you with their challenges and will be willing to pay for your solutions.
Price your products to attract the right customers
Sometimes people feel guilty for putting their prices up from their initial offerings. “Don’t,” says Conor, because “you’re always going to have people who complain that you’re expensive, no matter what you charge. That’s because they don’t see the value; they don’t have a problem that’s worth spending (that amount) on.”
There’s likely to be plenty of trial and error and outright failures before you find the successful combination of offers that become your business. However, you do need to get started thinking about your options.
“If you’re a YouTuber but you don’t have a plan for if they turn off your channel tomorrow you need to start a business.”
Contact Conor
Conor Clyne – Tsar Experience
Conor’s first interview on the Creator Smart podcast
Langpreneur episode #54
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