{"id":2317,"date":"2019-04-03T17:10:46","date_gmt":"2019-04-03T17:10:46","guid":{"rendered":"https:\/\/dubb.com\/blog\/?p=2317"},"modified":"2024-07-02T23:20:45","modified_gmt":"2024-07-03T06:20:45","slug":"how-to-build-hype-for-your-business-video","status":"publish","type":"post","link":"https:\/\/dubb.com\/blog\/how-to-build-hype-for-your-business-video\/","title":{"rendered":"How to build hype for your business [video]"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:calc( 1260px + 0px );margin-left: calc(-0px \/ 2 );margin-right: calc(-0px \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:0px;--awb-margin-bottom-large:0px;--awb-spacing-left-large:0px;--awb-width-medium:100%;--awb-spacing-right-medium:0px;--awb-spacing-left-medium:0px;--awb-width-small:100%;--awb-spacing-right-small:0px;--awb-spacing-left-small:0px;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><style>\n  .free-trial-btn {\n    background-color: #ffa737;\n    color: white;\n    font-size: 22px;\n    font-weight: bold;\n    border: none;\n    padding: 10px 20px;\n    cursor: pointer;\n    text-decoration: none;\n    border-radius: 10px; \/* Rounded corners *\/\n    margin-bottom: 50px; \/* Space at the bottom *\/\n  }\n<\/style>\n<style>\n  .space-50px {\n    margin-bottom: 50px; \/* Adds 50px space below the element *\/\n  }\n<\/style>\n<div align=\"center\"><a class=\"free-trial-btn\" href=\"https:\/\/dubb.com\/register?utm_source=blog&#038;utm_medium=blog-post&#038;utm_campaign=how-to-build-hype-for-your-business-video\" target=\"_blank\" rel=\"noopener\">GET A FREE ACCOUNT ON DUBB<\/a><\/div>\n<\/p>\n<p class=\"p1\"><span class=\"s1\">Whether you work for a brand new startup or a well-established corporation, one challenging task is to build hype for your business. Regardless of your sector, the market has become increasingly competitive. All the time, companies are flooding Twitter, YouTube, and other channels to try to build enthusiasm for their products.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Yes, the task may be slightly easier for a startup. Startups are young, exciting, and often have a brand new story to tell. They may have <a href=\"https:\/\/dubb.com\/blog\/video-commercials-101-how-to-share-your-business-origin-story\/\"><span class=\"s2\">exciting origin stories<\/span><\/a> that they can leverage when trying to generate enthusiasm for their product. Older corporations\u2014especially in commoditized businesses\u2014may find it more difficult to get customers excited about an existing or current offering.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This isn\u2019t an excuse to simply give up and place this task at the bottom of your to-do list. Effectively building hype for your business can provide massive benefits\u2014so long as the hype matches (or exceeds) the value that users obtain from your business. It can propel growth and generate positive momentum that you can use to find new customers, gain new media attention, and recruit talented people. <\/span><\/p>\n<p class=\"p3\"><span class=\"s3\"><b>Building Hype: A Vignette<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">To illustrate the power of hype, I want to share a story from my own life. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Along with my <a href=\"http:\/\/www.dubb.com\"><span class=\"s2\">Dubb<\/span><\/a> cofounder Shannon, I live in Los Angeles, California. Los Angeles is known for many things. Quite obviously, it is a beacon of the entertainment industry. It is a place where people travel to achieve \u201csuccess\u201d\u2014however they define it. It is even known for its outstanding weather.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But that said, one of the iconic symbols of Los Angeles is the <a href=\"https:\/\/hollywoodsign.org\/\"><span class=\"s2\">Hollywood Sign<\/span><\/a>. Located on Mount Lee in the Santa Monica Mountains, it is one of the most famous (and recognized) symbols in the world. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Simply put, it is a metaphor for ambition and success. It is a symbol for people who courageously leave their world behind to pursue their dreams.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While all of us who live in Los Angeles see the Hollywood Sign, we often don\u2019t make the trek up Mount Lee to see it up close. It is so easy to be consumed with our day-to-day lives that doing something touristy in a city like Los Angeles is often out of the question.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Shannon and I decided to make one exception. We had heard about how cool it is to see the Hollywood sign up closes and to take in the view of the entire city.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">As we climbed the hill up to the Hollywood Sign, we started getting excited. We realized that we were traveling to one of the most iconic landmarks that represent success. After arriving, we parked our car and took in the views. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Of course, they were outstanding. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But it made me realize how much of Los Angeles is a starstruck town. There is a significant amount of hype in life. It is all based on public perception. When you actually go and experience something, whether it\u2019s a visiting the Hollywood Sign or even taking a test drive of a new vehicle, you start to realize that hype may exceed your expectations. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">At the end of the day, though, life is what you make of it. Simply traveling to the Hollywood Sign isn\u2019t going to make it great. What makes it great is what you do during the experience and how you reflect on the experience. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">So yes, hype can get you to act. It can help your business find new customers. But having said that, hype without real substance behind your offering is going to lead to many disappointed customers. And if this happens, it becomes much harder for you to build hype for future products or services, as customers will become increasingly skeptical\u2014even if your product or service is the best in your market.<\/span><\/p>\n<p class=\"p3\"><span class=\"s3\"><b>The Power of Scarcity<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">With that story in mind, let\u2019s talk about actually building hype for your business. There are some best practices here. But from these general principles, we encourage you to experiment and try new things. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">You never know what is going to click with your audience.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">That said, one of the best ways to build hype for your business is by <b><i>leveraging scarcity<\/i><\/b>. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">On first thought, you may think that scarcity is actually a negative for your business. Why would you purposely limit the supply of your product? Doesn\u2019t that lead to lower profits and less user growth?<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While it may initially be counterintuitive, scarcity <a href=\"https:\/\/www.psychologytoday.com\/us\/blog\/science-choice\/201704\/scarcity-makes-everything-desirable\"><span class=\"s2\">prioritizes our choices<\/span><\/a>. It creates an <a href=\"https:\/\/www.psychologytoday.com\/us\/blog\/science-choice\/201704\/scarcity-makes-everything-desirable\"><span class=\"s2\">urge to buy<\/span><\/a> because we want to avoid the dreaded FOMO\u2014<a href=\"https:\/\/psychcentral.com\/blog\/fomo-addiction-the-fear-of-missing-out\/\"><span class=\"s2\">fear of missing out<\/span><\/a>.<span class=\"Apple-converted-space\">\u00a0 \u00a0<\/span><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">I saw this on my trip up to the Hollywood Sign. As Shannon and I were driving, we noticed that it is fairly difficult to reach the sign itself. Along with this, there were many signs explaining what visitors couldn\u2019t do. These obstacles, barriers, and removed location make it more difficult for vast numbers of tourists to visit. This scarcity\u2014whether artificial or not\u2014increases demand and increases the value for those who are actually able to visit the sign. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">We can also see the effectiveness of scarcity in the startup world. One great example of the power of scarcity is Gilt Groupe\u2014particularly in its early days. For those of you who don\u2019t know, Gilt Groupe is a startup that <a href=\"https:\/\/en.wikipedia.org\/wiki\/Gilt_Groupe\"><span class=\"s2\">launched in 2007<\/span><\/a>. It was focused on selling women\u2019s clothing and accessories through a <a href=\"https:\/\/en.wikipedia.org\/wiki\/Gilt_Groupe\"><span class=\"s2\">\u201cflash sale\u201d model<\/span><\/a>. Every day at a specific time, Gilt Groupe would sell a <a href=\"https:\/\/en.wikipedia.org\/wiki\/Gilt_Groupe\"><span class=\"s2\">limited number of luxury designer items at steep discounts<\/span><\/a>. Users rushed to the site once the sale was live, as they understood that if they weren\u2019t quick enough, they wouldn\u2019t be able to purchases from Gilt\u2019s limited supply. Even though Gilt was acquired for less than the amount of capital it raised from investors, Gilt was able to leverage scarcity to drive significant growth in its early history. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">So remember: scarcity can generate significant hype for your business\u2014whether you are a small startup or a larger enterprise. <\/span><\/p>\n<p class=\"p3\"><span class=\"s3\"><b>The Dangers of Hype<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Generating real, authentic hype about your business can be tremendously exciting. Hype leads to significant attention, whether it is from the press, the media, or even potential investors.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But there is a hidden danger to business hype. I alluded to it earlier in this piece. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">That is when businesses pursue hype for the sake of hype. They aren\u2019t as interested in delivering a terrific experience for their customers or clients. Instead, they are focused on continuously generating hype\u2014whether that is to fulfill their own ego or whether it is to cover up defects in their product or service.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">There is one classic example of this phenomenon. As Shannon and I were driving down from the Hollywood Sign, we noticed a billboard advertising a new documentary for HBO. <\/span><\/p>\n<p class=\"p4\"><span class=\"s4\">You may have seen it. It is called <a href=\"https:\/\/www.hbo.com\/documentaries\/the-inventor-out-for-blood-in-silicon-valley\"><span class=\"s2\"><i>The Inventor<\/i>: <i>Out For Blood in Silicon Valley<\/i><\/span><\/a>.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><i>The Inventor<\/i> tells the story of Elizabeth Holmes, a 19-year-old dropout from Stanford University who founded <a href=\"https:\/\/en.wikipedia.org\/wiki\/Theranos\"><span class=\"s2\">Theranos<\/span><\/a>, a startup that could allegedly take several drops of your blood and deliver a wide range of blood tests. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The hype around Theranos was significant. Instead of having to go to a lab and undergo an intravenous blood draw, Theranos technicians could simply prick your finger and gather a few drops of blood. The company prided itself on its proprietary technology to accurately deliver these tests\u2014even though some in the medical community questioned whether Theranos\u2019 technology was actually feasible.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Nevertheless, Holmes and Theranos generated a <a href=\"https:\/\/www.theguardian.com\/commentisfree\/2018\/jun\/03\/theranos-elizabeth-holmes-media-emperors-new-startup\"><span class=\"s2\">tremendous amount of hype and press attention<\/span><\/a> for this vision of pain-free blood tests. Along with profiles in renowned publications like <i>The New Yorker<\/i>, the company had <a href=\"https:\/\/www.theguardian.com\/commentisfree\/2018\/jun\/03\/theranos-elizabeth-holmes-media-emperors-new-startup\"><span class=\"s2\">many distinguished luminaries<\/span><\/a> on its board, including former Secretary of State Henry Kissinger and Oracle founder Larry Ellison.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">All of this hype was for naught, however. The company\u2019s technology simply didn\u2019t work. Holmes was charged with \u201c<a href=\"https:\/\/www.theguardian.com\/commentisfree\/2018\/jun\/03\/theranos-elizabeth-holmes-media-emperors-new-startup\"><span class=\"s2\">massive fraud<\/span><\/a>\u201d and the company essentially disappeared.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">While there are many lessons from the Theranos experience, it is obvious that this is a case of hype gone wrong. The product simply couldn\u2019t match or exceed all of the enthusiasm and expectations of the public. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The bottom line? Make sure that you have <i>substance<\/i> that you can hype up. Hype in and of itself isn\u2019t enough\u2014no matter how good it may make us feel. Your company must be able to deliver.<\/span><\/p>\n<p class=\"p3\"><span class=\"s3\"><b>Build Hype, Carefully<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Building hype for your business is a necessary component of any marketing strategy. You need to get customers and potential customers excited about what you are releasing into the world. Scarcity is one way to build hype, but there are countless other ways. Whether you study how other businesses have successfully built hype or look at your prior successes or failures, it is worth spending time strategizing on how you are going to build hype around your products.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But that said, make sure that you aren\u2019t generating <i>too much<\/i> hype. The corollary to hype is expectations, and expectations need to be met. Therefore, just keep this in mind as you are building hype for your business. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Ultimately, you are writing a check that you will eventually need to cash.<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n<div align=\"center\"><a class=\"free-trial-btn\" href=\"https:\/\/dubb.com\/register?utm_source=blog&#038;utm_medium=blog-post&#038;utm_campaign=how-to-build-hype-for-your-business-video\" target=\"_blank\" rel=\"noopener\">GET A FREE ACCOUNT ON DUBB<\/a><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>GET A FREE ACCOUNT ON DUBB<\/p>\n","protected":false},"author":1,"featured_media":2318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[237,100,144,129,151],"tags":[182,238,30,32],"class_list":["post-2317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-growth","category-marketing","category-thedailydubb","category-tips","category-video-marketing","tag-business-advice","tag-business-growth","tag-video","tag-video-marketing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to build hype for your business [video] - Dubb Blog<\/title>\n<meta name=\"description\" content=\"We took a trip to the Hollywood sign to discuss how hype can be an asset for your business! 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