On today's episode, Steve interviews fitness influencer, model, ?and CEO, Colin Wayne. After being kicked out of his house and joining the military at age 17, Colin Wayne Erwin has become one of the best problem solvers of our generation. Tune in to today’s podcast to hear how Colin Wayne Erwin, CEO of RedlineSteel, was able to turn nothing into a company on track to do 30 million dollars this year.
Episode Transcript — Striving for Challenges w/ Colin Wayne of RedlineSteel
Narrator: You are listening to the Spend $10K a Day podcast, brought to you by the performance marketing experts at MuteSix. This is your source for cutting edge insight into the world of online advertising, from the team with more Facebook case studies than any other agency on the planet.
Steve Weiss: Hello everyone, welcome back to another exciting episode of the Spend $10K a Day podcast. Today I'm going to be talking a little more about the release of Instagram TV. Yes. Finally, Instagram has launched a platform to compete with YouTube. What does this mean for you as a business owner, as an eCommerce marketer, as a direct response marketer? How do you leverage Instagram TV to drive growth? How do you become a content creator? How do you really build an audience for your product? This is what we're gonna be discussing on today's specific podcast, of what is the meaningful impact that Instagram TV will have on your business? That's what I'm always thinking about.
So, number one, what is Instagram TV? Instagram TV, obviously they have Instagram stories, which is 15 seconds or less. You create a story and then you release it. Great. Instagram stories is a great bite-sized way of releasing content about a specific experience or a specific life moment. Great.
Now, what Instagram TV is, is the longer tail version of that. So, obviously there's no time limit, you could easily, you know, create a video for two minutes, 10 minutes, 20 minutes, whatever. It doesn't matter. And this is just Facebook's way of harnessing the power of the content creator. All these content creators are on Instagram and they're still using other platforms to really distribute their content, AKA YouTube, Pinterest, other non-Facebook related platforms. So, obviously Facebook sees the bigger picture. You need to harness this content somewhere to Facebook Watch, and they need to, number two, monetize this content.
So, right now, as a business owner, it's really, really important for you to think about your business as a content creator along with an eCommerce or store owner. So the question is how do you become a content creator and how do you use Instagram Watch to really capture and cultivate an audience on Facebook, or on Instagram, should I say?
Right now, I think that that's something that eCommerce store owners should really be exploring, because it's happening, and right now, Instagram long-form or Instagram TV should I say, is giving a lot of free impression shares to content creators. So I think it's really important for people who really want to get involved to start creating a channel, start producing some live content, get to know how the system works, start talking to your audience base, see how they react to the longer form content. Because what's going to happen is you're going to be able to build a following a lot easier now than say two years from now when there's a lot of content creators already on the platform. So, being a first mover on Instagram TV for your brand or for your personal brand, I think, is really, really important.
We're actually going to be doing some Instagram TV stuff, Instagram TV spots coming up shortly, around some of the podcast topics. But I think that, as a brand owner, you have to jump on this right away because there's going to be a lot of free impression shares.
So number one, leveraging this to grow your business and cultivate an audience, figuring out what type of content your audience will consume, and then figuring out processes to start building that content in a sequence. So, how do you build a scalable process for content creation?
Number two, on the flip side, is buying media in Instagram TV. So obviously, there's going to be a lot more ad impressions because of all this content, it's coming to the platform. Instagram TV is built on Facebook's ad stack. So, you're going to be seeing a lot more pre-roll video ads that are available.
Right now, it's still branding focused, but now you're going to have a lot more impressions. So, the hope is that some of these placements will be able to reap a positive ROI from... I don't know right away if someone's going to directly buy a product from a last impression viewing a long form pre-roll video ad. I think pre-roll is, or mid-roll should I say, is still kind of speculative in terms of does it drive a positive ROI? But I really think it could have a positive influence on getting someone to make a decision down funnel. And I think that's something to think about when you're considering in the near future creating mid-roll and pre-roll ads for Instagram TV because they are going to push that ad spec really hard along with Instagram story. So the question is how will your audience really react to it?
So the two main points of this specific podcast is number one, Instagram. You know, Instagram TV, launching, getting on the platform, starting to create content, setting up your channel, very similar to YouTube, you know, capturing a specific piece of your audience. It actually notifies your followers that you're creating content, which is great. Longer form content. Number one, getting your channel up and running. Number two, building specific content for different ad specs in Instagram TV, which isn't a hundred percent launched yet, but it's very important to start thinking about that.
And these are some of the stuff that I really want, you know, you guys or everyone listening to this podcast to become aware of because it is going to be cheaper impressions and getting on this first and figuring out how to make this work for your business is nine tenths of the game. And that's what I'm always thinking. How do I take one step ahead? How do I make that continuous unfair advantage for all the people that we work with, all of our partners. So I hope you take that away from this podcast, the importance of really jumping into it right away and until we chat again. We have another awesome topic coming up on the next podcast related to bid strategies. But thank you so much for listening and...