Bedros Keuilian Podcast Show - How to Use Social Currency to Grow Your Business - 011

Episode Date: September 6, 2017

Today, clients and customers aren’t satisfied just buying from a huge, faceless brand. When they get interested in a new product or service, they become intensely curious about the people behind it. This is a huge opportunity for you. Once you get in the habit of regularly sharing your personal life online, using Craig Ballantyne and Bedros Keuilian’s system, you’ll be able to dominate your market.   Here’s what you’ll discover: 0:35 - The number one thing that separates struggling businesses from businesses that are overflowing with clients and customers. 2:03 - Why the path to riches is, weirdly enough, giving away your best information for free. 2:37 - Why being open and personal on social media is the best way to grow your business. 4:06 - Why you cannot out-give the universe, and why this is important to your business. 5:52 - How often per week you should get online and share your lifestyle and behind-the-scenes content with your audience.

Social media has made the entire world transparent. And so the best thing you can do is be transparent and teach. Give people a peek into your life so that they feel more connected to you. They feel that they are part of your world. And in this way, you're really building the social currency you need first before you can ask for the real monies. Hey, friends, Bedros Kulian here with my friend Craig Ballantyne for another Empire podcast show. I've got a question for you.

Have you ever wondered why it is that you're... doing all this work, putting out all this effort, yet your business is just struggling to grow. We might have the answer for you on this show. Craigie, tell us about social currency. Social currency is where you are, what my friend Bob Berg calls a go-giver, where you are going out and you are giving with the giving hand, because that's how you start relationships, and that's really how you build a relationship to the point where that you can benefit as much as the other person. So that's getting started with it. Yeah, exactly. And so you really want to think of it this way. Before you can ever go and fill up your bank account with money, you first have to fill up the goodwill bank account. And these days that happens only at one place on social media. Think about that as YouTube, as Instagram, Snapchat, you know, the Twitter's, Facebook, of course, right? And really, you look at Gary Vaynerchuk does this best. He gives so much value ever before he asks for money that when he has an event or he puts out a new book, we all feel so obligated to go and

and buy his books and to visit his events and learn from the man. Yeah, he's pushing the free line. And what that means is he is give, give, give, give, give, give, and then he makes an ask. And so he just push the free line with each give further and further away so that you're on the other side of the free line. You're thinking, oh my goodness, now it's time to pay it back. Like you said, goodwill is so important. It's building up that goodwill bank account through all of the giving you can do in the social

media. So where does somebody start? Yeah, so people always ask, well, where do I start with giving? Because I don't want to give away my best information free. And our challenge to you is actually give your best information away for free because people are not so much buying information anymore. It's free anyway. You can find information on Tumblr and on YouTube and on Vimeo. You can find information on blog posts all over the place. And in the library. And in the library, by the way. The libraries still exist in your local city. But what people are really paying money for is the implementation, right? Taking the information and the knowledge you have and putting it into action. And so when you're looking at starting this, who is behind the business? Everybody's asking

right now, who's behind the business? People want to meet you. They want to see you as the person that you are. They want to know what you stand for. They want to know exactly what your day is like. And you're probably thinking, what does that have to do with selling my product or service? It has everything to do with it because social media has made the entire world transparent. And so the best thing you can do is be transparent and get on Instagram, Facebook, and YouTube, and teach. Give people a peek into your life, whether that's with your family or in the backyard or on a marker board or in your teaching or just on your day-to-day travels like Gary V does so that they feel more connected to you. They feel that they are part of your world. And in this way, you're really building the social currency you need first before you can ask for the real monies.

Yeah. And the thing is, even if you tell people hours and hours of free content and you give, give, give, give, give, you know what? They still think that you're holding back secrets. It's just the natural belief that everybody has. It doesn't matter how many hours that Bezos has spent teaching personal trainers how to grow and, you know, get more clients. They still think, ah, but he's holding something back for me that he's only teaching, you know, his mastermind clients, even though he's not. because Bedros is giving all the secrets, but that is just human nature for us to think that. And so Yonik Silver, who first introduced me and you to Gary Vaynerchuk, he taught me something

years ago that made a huge impact in my life, which was that you cannot outgive the universe. So go and give, give all your secrets, people are always going to think you still have more, and so that's why they're going to come to you looking for more opportunity to get involved, whether it's joining a mastermind group or coaching group or whatever it is. So going back to the social currency on social media, that is where you're building the celebrity, authority, and credibility. And that's really important in this day and age. Gary Vee has it. You know, The Rock has it with Instagram.

Tell us more about how important that is to build the social currency to help somebody build their empire. Yeah. Yeah. So not only is important, but I'm also teaching the structure of it because everybody wants to know, well, how do we do it? And, of course, as you when I teach in the empire coaching group, you know, you've got to have scale and structure and a strategy. And so I'll teach that. But think about the importance of this. People buy from people they know like and trust.

And if they know like and trust you, you are already creating a category of one. So if there's other people doing what you're doing in the same industry, if you can get people to know like and trust you more than the competitors, they are going to buy from you even if you're at a higher price point, and they're going to refer others to you as well. So that factor is huge, and there's nothing more valuable than social proof on social media. And so people go, well, then what? What kind of stuff should I be teaching?

Well, for example, in between the shoots of these Empire shows, I'll just get my iPhone out, and I will film a video that I'm going to share on Instagram later where I teach exactly how we batch process five or six episodes in one day. And I take them into the back green room where I show them how I stay hydrated, the protein bars that I eat, the green juice that I drink, to really keep me at peak performance levels throughout the entire day. Like, that's a piece of behind the scenes that you can get and film within one minute and post it.

it up on Facebook and Instagram. And so when you really think about it, the structure of your frequency of getting online should be at least four to five days a week of live video or a pre-recorded video or some kind of content that you drop a nugget or teach something on a consistent basis. But the number one thing there is that word consistency. You can't just do it for two weeks and then stop. You have to make it part of your business because they want to know who you are, what your lifestyle is like.

They want to see you as an authority and a celebrity and someone that they can know, like, and trust. And for all that to happen, you've got to be on all channels all the time for the long haul. Yeah, and you know what's really cool is that you're giving them that inside behind the scenes background. Because, you know, they can say, oh, you can go and buy his book and you can get all the information that everybody else is getting. But he's making these videos that only, you know, a smaller part of his world are watching. And I'm on the inside. I get to know about him. I get to know about, you know, this guru's little secret, you know, something they do over the course of the day. Now they feel, oh, so much cooler, so much more connected.

And it's much easier for you to get them to take action by doing that, right? Sure. Yeah. And we'll finish off with this one point. And I can tell you this right now, they don't just want to know the thing that you're an expert at. I mean, they want to know, what do you eat? How does your day look? What is your schedule like?

What are your hobbies? What are your hobbies? Do you work out? When do you work out? Why do you work out? What is your favorite workout? And so when you really think about content creation, and I tell you, you got to do this four to five days a week on all channels all the time, it's not just about the topic that you're an expert at. It's about all topics because they are really falling in love with you.

It's connection creation, not just content creation. Correct. Yeah, absolutely. So they're always looking for that one thing that they can connect with you on. Oh, he drives a Yukon Denali. Oh, that's exactly what I have. Or, you know, he drives a red car. That's what I have. You know, anything that they can connect with. So they feel. feel more connected with you and they're going to go to that next level with you because you've given so much to them, right? Yep. Yep. As far as I'm concerned, anytime I'm doing business with customers and clients and franchisees, I want them to feel like they're buying from a friend and I want them to communicate with me like a friend.

So when they leave a comment and going back to the structure of this thing, you're not just going to create the stuff and then let it go, come back and comment on it. Someone asks you a question and if you don't, you're not commenting. I mean, you wouldn't have a party at your house and someone asks a question and you just turn around and walk away. well, you're not going to do that on social media either. If you're going to make a video and you're going to teach something on that video, and if people leave comments and they leave feedback and they have a question or two or ten,

come back and answer that. And if you've got a big enough team or a big enough following where you actually have a staff, you can outsource this to your staff where they can actually log on with your account because they know how you're going to answer. And so it's not like you're going to be tied down all day long answering questions. You can have people answer the questions for you. But just remember that. You're not only creating social currency, you're actually creating a connection, as Craig said.

And when you create that connection, it's a deeper bond, it's a relationship, and it's their buying from a friend and not just from some guy or gal who's offering a product or service. Right, and that's the way you're adding more value to them. So be a high value adder to high value people, and that's how you're going to build your social currency, your business, and your empire, right? That's exactly right. And if you want to get more information like this on how to grow your empire and 10 extra success and half the time, then you're going to want to see what our Empire coaching group is all about. And if you're a good fit for it, jump on board. See you later.

Thanks for listening to the Empire Podcast Show. Remember to subscribe on iTunes, share it with your friends, and give us a rating. We'd really appreciate that. And make sure to go to Empire Podcast Show.com to watch the videos as they come out.