Mr. Greg on Mr. Beast

 

Marketing Lessons From MrBeast!

Have you ever been on Youtube? Most likely you have and are part of Youtube's 2.24 Billion viewer base. Since my first iPhone back in 2010 I have been an avid viewer of youtube and personally got to watch Mr. Beasts' channel go from a million subscribers to being one of the top five most subscribed channels in the world. I always wondered why his channel got so big while others who I thought were more creative and innovative did worse. 

I found an article with an example of this question called "MR BEAST SURPRISES VIDCON WITH GIANT GUMBALL MACHINE FILLED WITH EXPENSIVE PRIZES" by Daniel Munro. Jimmy Donaldson (Mr.Beast) spent most of his life hyper-obsessing over youtube. Starting when he was a kid in school, he would make videos and spend hours trying to figure out what made a certain video go viral and what did not. When he grew up, he would spend hundreds of hours doing the same thing with a group of other like-minded hyper-obsessed youtubers. He found that there were a couple of major things that decided whether or not his videos were marketed correctly. The first one is that you had to be innovative. People had to notice you by seeing that you were different than every other channel. However, that walked a close line with the second thing he learned, which is to follow trends. By combining the two, he learned how to go viral. You had to take a current trend and innovate it. The last thing is shock value. Mr. Beast wants his viewers to need to see what happens in the video. This was all put together when at vidcon he brought a 40-foot gumball machine and helped fans take prizes out of it. This was a promotional effort for his chocolate bar company. He gave away Nintendo switches, money, and all sorts of other gifts out of the gumball machine. This is one of the reasons why his fanbase is so loyal. This is a new way of earning fans, and he is one of the only people who could do it because of his unique perspective on money. He does not care about what it can do for him, only what it can do for his fans and his channel. The challenge is the amount of money and time he has to put into giving away so much stuff and that he has a huge amount of sunk costs. However, when you do not care about what money can do for you then this issue is hardly an issue.

I would say that giving away free things is a great way to create fans. However, Jimmy should be worried about losing money. When you give away a Nintendo switch ($300), you are investing that money into a fan that will never give you back $300 in views. This is an extremely high cost of doing marketing and one that does not need to be taken. If I were Jimmy's brand director, I would try to bring him into new markets. He has Youtube marketing down pretty well but he now has other products such as Beastables and his restaurant chain that could be growing faster if he put some effort into advertising in other places. Things like TV commercials, Sporting events, and Brand apparel all could drive his company forward. He only advertises on Youtube and although Youtube is huge, there is a huge market that he is missing out on. 

(Value Proposition) Mr. Beast promises to entertain us while giving back to people and the world at the same time. All of the money that he earns he reinvests back into his videos and all of his videos are about giving money away in exciting ways. Mr.Beast markets by being bigger and willing to risk more while taking less for himself than anybody else. When you see him give away an island or a chocolate factory it makes you like the product he is selling because you know the profits are going to a good cause while also getting a great product. 

You never want to miss a Mr.Beast event. Check his channel out so you can see what new and exciting thing is happening next! Hope you didn't miss out!

https://bettermarketing.pub/mrbeast-the-teenager-with-29-5-million-subscribers-a6331a6e9814

https://www.hitc.com/en-gb/2022/06/28/mr-beast-gumball-machine/

https://www.youtube.com/user/mrbeast6000