Starting a new business can be challenging.
Starting a business in a field (like CTV) still in its diapers, more so.
So, what makes the TV Channel Business work for some and not work for others?
Read along to see our top 7 tips to build a profitable and successful business model.
1 - Learn everything you can about TV Channel building and publishing.
It might sound obvious, but it is the most important part of your business and the part most put in the last place.
I am not referring only to the channel-building process - you can outsource that - but you should know everything about channel publishing requirements and best practices.
You should be able to advise your clients about the best channel branding, monetization, and so on.
2 Build a "problem solver" webpage for your business.
A webpage is a must-have for any business.
A webpage focused on solving potential clients' problems will make your client acquisition process faster and easier.
Think about it, what would you like? A service provider who helps you and solves your problems, or ... a service provider showing you only how good he is and how much it will cost you to work with them?
3 Build a portfolio.
Having a channel portfolio can benefit you in more than one way.
The most obvious is that you can showcase your services and show your potential clients that you know what you are talking about.
It is easier to sell something you can show.
Secondly, building your channels will familiarize you with the whole process - you will learn by doing it
4 Quality comes first
This one should be your most important goal.
Don't take shortcuts - quality branding images, video hosting, quality video content, etc.
It might have a higher initial cost for you, but it will pay up later when your clients recommend your services and order more.
5 Offer additional services
Yes, building a tv channel can be profitable, but also as profitable is to offer services you can bill monthly.
Some of the "best sellers" are:
Channel Maintenance - not only logical, but I'd say mandatory. It is crucial to have your channel updated and in good standing.
Live streaming - this one is a hot seller. Everyone wants to stream live.
Monetization - lead collecting or ads - monetization can take multiple forms. Offer as many options as possible - this is why most clients want a channel.
Roku Search Optimization - yes, there is such a thing as RSO, and because everyone wants to be at the top of channel store listings, or as high as they can be, have new viewers, and so on. Most of them are ready to pay a premium fee for that.
6 Learn and evolve
CTV is still in its diapers. Technology changes; networks constantly upgrade, introducing new options, tools, etc.
It takes time and resources, but ... would you like to be on the top and offer top and up-to-date services?
Or ...
7 Don't be afraid of outsourcing
Doing everything by yourself takes time. You need to learn new things and invest in new tools.
Of course, the idea is to do everything yourself or build your team.
But outsourcing is a good idea if you don't want to invest time and money.
Image and video editing, optimization - almost every part of the channel building and publishing process can be outsourced.
It might cut into your per-channel profit, but it might be worth it if you spend more time selling channels and services or optimizing your own business.
In conclusion, one more.
Don't make your business about you and only about money.
If you focus on solving your client's problems - if you help them achieve their goals - they will repay you by using your services for a longer time, ordering more, and recommending your services.
Do the best you can, and money will come.