The Best Type of Fame to Get the Most Money

0:00All right. So we're going to talk about the best type of fame. Here's how we're going to open it up. So what do you think the best type of fame is, Neil? I think the best type of fame is if you're really well-known in a massive TAM. Okay. What would be an example of that? Let's say you're really well-known in the makeup industry or beauty industry. So TAM stands for total addressable market for anyone listening. The bigger the TAM means more money being spent. And it's not about the amount of people. It's about the amount of dollars. And that can help you generate quite a bit of revenue. So like Kylie?

0:33Kylie Jenner, Kylie Cosmetics. She's well-known in beauty, hair extensions, lipstick maybe. She's famous in general though. She isn't famous in general, but a lot of it is beauty-oriented. And that's why she pushed her company to be more beauty-oriented. You know what I would say? So my take on this one is niche fame, right? So she's a little more famous. She's famous for being famous as well. That's another thing. But I think being niche famous, for example, right? For example, I would say we're not celebrities or anything. And I would say you're pretty popular in the marketing space. When I go to conferences, people recognize you, people recognize me.

1:11That's good because when you go outside into the real world, you don't get bothered by other people. But it's kind of cool if you go to a conference and it's like you get swarmed. I get it just enough where it's like nice dopamine hits. You get swarmed. Sometimes we'll speak at a – we did the HubSpot event together. that we did at marketing school on stage. And I counted, I actually did analysis on your line sizes versus mine, right? So mine's is always 25 % the size of yours. So if you have a hundred people, I have 25 people, right? But point is like, it's when you're niche famous, it's like you have a lot of power in that industry and you get to also protect your privacy as well, right?

1:51That's another thing. Now, what Neil's talking about with Kylie is like, when you're famous in a niche that has a large total addressable market, you're also going to make a lot of money too. Yeah. But I get what you're saying because doing what Kylie has done is very hard. And I know I went over this in the previous podcast, but I just want to go over these numbers again, because we looked at a lot of people who are influencers, 5 ,920. And the average revenue that an influencer is making is$323.19. That's per month. That's in USD. For the people who had 100 ,000 to 999 ,000 followers, they were generating on average$1 ,727.29 per month.

2:36The people who had over a million followers a month, or not per month, but the people who had over a million followers were generating on average$6 ,109.83 a month. and the big issue with this is people try to accumulate followers for something that is hard to monetize ex posting bikini pictures or uh swim trunks for men pictures you know you can be a male model or a female model that's cool but you're only going to make so much for people paying you to pose in a bikini outfit right or swim trunks there's just not that much capital in that do you remember uh noah the videographer my videographer no yes okay so he has a channel called bikini yoga now and his youtube channel i think it has like 200 000 subs on it now it's just it's just women in bikinis doing yoga okay and it's just growing rapidly so when you said that it just and i'm like man what are you gonna sell i'm like your your audience is like 99 male right i'm like what are you gonna sell there but um that is a situation where it's like that's a maybe that's a interesting audience there it's hard to monetize like when people look at mr beast they're like oh oh my God, he's done really well.

3:42And hats off to him. He has done really well. But if you look at how much he generates per view, it's not that great. If he had views in a specific category, like enterprise software, and he was generating that many views, he'd be worth over$100 billion. Yeah. Right? But the problem is, the moment you're selling things like burgers or chocolate to the mass audience, the margins just aren't there. You're not going to ink out too much profit. Okay. Let's use another example. in tech, right? So like Sam Altman is famous right now in AI, right? You could say that. And you and I, if we saw him, there'd be a lot of respect, right?

4:18But I think if he goes on into the real world, I don't think he'd be noticed as much still right now. Like he's still like on his way up. He wouldn't be noticed versus like a Bill Gates or something. Yes, I think Sam Altman's on his way up, but Bill Gates was the richest person in the world for a very long time. Or Jeff Bezos, right? Or Elon Musk, but Sam Altman could potentially get there. Oh, for sure. way i think he's already very recognizable and people know him because everyone talks about chat gpt yeah yeah yeah so i think our point of this is like there's there's two ways of this right one is like you don't want to be too famous where like your privacy gets like your safety gets in jeopardy that's one thing right the second piece is like you do want to be niche famous where like in a good niche where there's a lot of money in it because for mr beast for example he has a lot of views but the reason he has to sell chocolate is because like his audience is so wide yeah that he has to just go for something that's wide that's what happens when you create videos like here's a real life squid games or here's me walking 10 hours in really big shoes or what's different from a one dollar yacht to a billion dollar a hundred million dollar yacht yeah it's not that monetizable yeah well you know what i mean he's kind of like maybe we'll talk about this in a few future episode but he's actually famous for being famous now but um anyway yeah that's it on the the fame piece i think question for you if you had to start all over again i saw a tweet today from uh brian dean from backlinko although he's no longer backlinko he's exploding topics yeah and he created his first youtube channel that wasn't on about himself like it wasn't brian dean it was exploding topics so a corporate profile yeah have you checked it out no what's what's the what's the go on okay so his first video which was i thought was really good i I left a comment on his tweet.

6:04It was, the first video was three categories. Let me actually just search Twitter. Brian Dean, there you go. So the first video was, or let me go back to his tweet. I've had a personal YouTube channel for almost 10 years, but I've never launched a channel for any of my brands. Well, today that changes. We've just launched our first YouTube video for Exploding Topics. And then he links to the YouTube video. If you guys haven't seen it, it's really cool. And the topic of the video is three products generating a million per month right now. And he goes over the topics. Like one of them was fitness gummies.

6:42The second one was pet air purifier. And the third one was electrolyte mix. He's going to do well. Yeah. And he ended up breaking down the video, the reviews that these sites had, the purchases they were getting, the star ratings, the revenue. And then he also broke down what they're doing on channels like TikTok and how many views they're getting. So I thought it was really interesting. And he even breaks down like who the products appeal to. Like electrolyte makes, helps you recover faster when you're working out. But it also helps you if you're sick or you're just healing. But I thought it was really smart.

7:18And the reason I say this, Brian sold backlinko to SEMrush. I thought it was a good move for him and a good move for SEMrush. So I think that was a win-win situation. but the real money is not made in personal branding and i don't care what people say they're like look at tony robbins or lebron james or the kardashians you still make way more money building a google or a coke or a spacex or tesla stuff that isn't revolving around a personal brand if you look at kylie cosmetics and or even uh kim's skims now and she's done really well you know the stuff that's going viral on tiktok over skims no people are showing the exact product no name brand because they're buying from the same warehouses it's like one third one fourth the cost it's way cheaper there's no difference when i mean there's no difference in product people are saying there's not even one percent of a difference other than the label and stuff and they're like why would you pay let me give you one that's related to this so laurel piana okay go to italy if you go to the factory you can get no logo on it and you can get it for like a tenth of the price.

8:25But is it a Loro Piana factory? It's a Loro Piana factory. Available to anyone? They send the stuff to Loro. They're the factory that makes it for Loro Piana. And you can, anyone can do it? Not anyone can do it. So you have to like, but I'm just saying, there's like levels to this, you know? Like my friend does it. He's also an Indian guy. He lives in the UK. I was like, oh, I should go to this factory. It'd be cheaper to buy a plane ticket. You might've met him before. Yeah, I don't know. But anyway. But the moment you said anyone can't do it. No, no. But if we go with him, we can do it. It does so much work though.

8:55But like the Skims example, anyone can go on Amazon and they're buying the copycats for you. Sure, but I could just buy less clothes and then I don't have to worry. Okay. All right. Anyway, so that's that. So I think, look, that's what we think about this. We're just going to wrap it and you're going to have to listen to the next episode. So don't forget to rate, view, subscribe. It helps us grow. And some five stars too. That would be great. Hey, we've taken the ad load down, guys. We've taken the ad load down. We're sorry about that. We didn't know it was that bad. So yeah, we'll talk to you later.