Will Markethive Get On Shark Tank? Fingeres Crossed!

 

Chris Corey from Markethive attended an open casting call in Detroit's Hope Hall to bring Markethive into the Shark Tank

 

 

Shark Tank is a TV show where entrepreneurs come into a room and pitch a panel of “Sharks” or investors to raise money for their idea.

 

Pitching Shark Tank has been one of my goals since I had seen the first episode. The chance to stand in front of a room of skilled investors as you try to convey your vision for your company in such a way that, they too capture and embrace your dream.

I have always loved the quote " you don't know, what you don't know" as I have watched hundreds of episodes of Shark Tank I have gained a deeper insight into business from each episode. To be brought into the show via my television, to be able to experience the minds of true professional investors is worth its weight in gold.  Shark Tank, in my opinion, has done two things. One, allows its viewers to gain great insight into what investors look for in companies while allowing you to better prepare for the type of information they are looking to extract. Two, they allow you to see how they themselves would change a feature about the product or the look of the packaging to increase sales. Nowhere else can you gain this knowledge, without having a company and pitching yourself. Still, the knowledge gained from one live pitch yourself in comparison to the knowledge gained from watching hundreds of pitches is like comparing Earth to the size of our Sun. 

Entrepreneurs who make it onto a "Shark Tank" episode have the opportunity to introduce their company to a viewing audience of 7 million potential customers.

The companies that land a deal with one or more of the show's investors then have the chance to scale and, in some cases, become a nationally recognized brand.

We looked through old episodes and asked the Sharks themselves about their most successful deals. Read on to learn about the biggest "Shark Tank" success stories so far.

 

Scrub Daddy

A sponge company has far and away become the biggest "Shark Tank" success story. Over the past three years, Scrub Daddy has brought in a total of $75 million in revenue, according to investor Lori Greiner.

Greiner made a deal with its founder and CEO, Aaron Krause, in Season 4 for $200,000 in exchange for 20% equity. At that point, Krause had struggled to reach $100,000 in sales over 18 months, but Greiner saw great potential in the company's signature offering, a proprietary smiley-faced sponge that was more durable, hygienic, and effective than a traditional one.

She helped Krause expand his product line and brought them onto QVC and into stores like Bed, Bath & Beyond, where they have become bestsellers.

Shark Tank highlights entrepreneurs who are seeking an investment to expand or launch their business or product. Fervent business owners pitch their idea to the sharks, a panel of savvy investors and business gurus who are self-made millionaires and billionaires. If the sharks like what they hear they may invest their own money, and if they aren’t impressed they can be ruthless in teaching the entrepreneurs a hard lesson or exposing weaknesses within a business, product, or concept. The pitches can be quite dramatic as hopeful and passionate entrepreneurs put it all on the line, sometimes collapsing under the pressure of fast-paced negotiations and even breaking down in tears. In this fantastic whirlwind of television mania, some products are torn apart and spit out by sharks while others create a feeding frenzy. For those that make it out alive, appearing on the Shark Tank can accelerate success wildly fast. 

In reality, most pitches last for a grueling hour or more but are edited down to make entertaining ten-minute television segments. The entrepreneurs must convince the sharks to invest the full amount of money they are asking for, or more, or they leave the tank without a deal. The deals reached on the show are preliminary agreements and are not binding until the sharks do their due diligence in checking out the entrepreneur and claims made in the pitch. Some deals actually fall apart behind the scenes and some may be altered. In any case, all the businesses that appear on the show get the unique opportunity to stand in the spotlight as 8 million viewers watch their enthusiastic and heartfelt pitch. The exposure from the show creates a rapid acceleration of product sales and interest in the featured businesses, crashing websites with a bombardment of sudden traffic, stripping companies of their inventory, and turning start-ups into multi-million dollar companies practically overnight. This boom in growth and product sales has come to be known as the Shark Tank Effect. 

Chris Corey Markethive

Contributors:

http://www.businessinsider.com

 

Images from Printerest

 

Alan Zibluk Markethive Founding Member

Ways to Boost Your Social Media Creativity Game

Ways to Boost Your Social Media Creativity Game

You don't have to be Tinder to light a fire under your customer base, with word-of-mouth marketing tactics.
4 Ways to Boost Your Social Media Creativity Game

Leave it to a dating app to demonstrate the instant success

a creative social media marketing approach can bring to a new business. Tinder — the location-based dating service that facilitates matchups between interested parties — used a tactic best described as word-of-mouth advertising in a digital format To successfully launch its app.

In a recent podcast, Tinder co-founder and CEO Sean Rad revealed that the company grew by 50 percent the day after it tested 500 individuals a link to its app. That tactic and other word-of-mouth campaigns grew Tinder's customer base from 20,000 to 500,000 users in less than a month. Clearly, entrepreneurs hoping to quickly reach and grow their own customer bases must embrace social media in all its forms. Social media's free word-of-mouth nature can attract and engage potential customers at a stage in the company's development when advertising budgets are often tight and expenses must be carefully monitored. When building a new business, attracting customers is imperative — and social media is a leading pathway to gathering and retaining loyal consumers.

Reach out and touch your customers.

Consumers love to be engaged, equipped and empowered, Kimberly Whitler, a marketing professor at the University of Virginia, has said. This makes them feel important, as though they have a vested interest in the company. Consumers crave two-way interactions and are flattered to offer reviews of a company's products or services. Why should this matter to a small entrepreneur? Because every customer reached is a potential repeat customer who will tell others about a positive experience. When a startup adopts social media marketing tactics that truly engage its customers, the benefits are plentiful: The company likely will grow its customer base while spending less money on marketing, leaving more funds available to invest in higher salaries for employees and other areas of the business.

Social media marketing done right also helps businesses stay top of mind among their followers. Consumers will recall engaging content, helpful advice or a humorous post. According to MarketingLand, consumers don't want to be lectured or bombarded with ads. Good vibes toward the company result in trust, long-term loyalty, and a positive bottom line.Nielsen reports that 92 percent of global consumers identify earned media as their favorite form of advertising, primarily in the form of recommendations from friends and acquaintances. Those customers trust companies that connect with them in genuine, captivating ways; and they want to establish relationships with them.

Shake up strategies to push the marketing status quo

So, how can entrepreneurs change their marketing strategies to create connections with customers and pack a more social punch? Here are four tactics to try:

Register accounts on all major platforms.

According to Hootsuite, social media can no longer be brushed aside. A business won't succeed without active accounts across several platforms. If social media's word-of-mouth power is not utilized, the chances for promoting a business are largely lost. Get started with accounts on Facebook, Twitter, Instagram and more to meet customers where they are. Even companies without a product to sell benefit from engaging on social media. Magic Leap, a private company that is developing a futuristic augmented/virtual reality system, has created interactive content to whet users' appetites for the impact its future product could have on their daily lives. Despite its lack of any imminent product launch announcement to date, the company has still generated about 60,000 likes on Facebook and has attracted 32,000 Twitter followers.

Harness the power of community.

Reach out to consumers — and let them reach out to you and to one another — using social media in order to successfully build community and benefit from positive word of mouth. Yelp, which publishes crowdsourced reviews of products and services, shows how powerful positive reviews can be. If a customer likes the service or food at a new restaurant in town, a good Yelp review will encourage even more customers to flock to the startup's table. Encouraging customers to leave a positively verified review, perhaps through offering a coupon or discount on future services, can help draw in new customers.

Consider for example the case of Uncle Maddio's Pizza. I came across the family-owned pizza joint while traveling with my son's baseball team. Our hungry team searched restaurant reviews on Yelp and found positive comments about Uncle Maddio's. As promised, the food was excellent, the service was top-notch and the staff was personable. Before we left, I learned that a franchise location would soon open in my hometown. The owners started a Facebook page for the new location and promoted "spirit nights" that would raise money for schools and youth organizations. Needless to say, when the new store opened, I took my family there and have returned many times to eat and to support fundraisers there. Positive online and word-of-mouth reviews have led this small business to success.

Associate with other businesses that share similar mindsets.

Strive to connect to businesses that are working toward the same type of high-quality customer experiences you are. Good business practice dictates being tied in with others that have strong search-engine rankings and website presences. Interact with them online, and share each other's content across your social platforms. Many online marketers, such as Neil Patel of Kissmetrics — whom I've turned to for advice on my SEO projects — say posts on social media accounts influence Google and Bing search rankings. Search engine rankings aim to provide users the best possible resources to help them make purchasing decisions and acquire information. These accounts can affect the business's reputation and authority just as easily as they promote the business.

Employ someone who knows how to use social media effectively.

Hire someone who thoroughly knows social media — Facebook, Twitter, Instagram and beyond. This person should be able to moderate comments, post daily messages and answer inquiries. Give this person guidance on what your business is trying to accomplish and a list of what's acceptable to post. His or her goal should be to keep customers informed and engaged in a timely manner. A good social media team can take a business to global heights. Holly Clarke, a marketing manager at Airbnb, says the company has team members in San Francisco, France, Germany and the U.K., along with translators tailoring posts to other areas of the world. Airbnb's #NightAt and #BelongAnywhere campaigns draw in consumers from across the globe to interact with its content.

Entrepreneurs have a lot to think about when starting new businesses, but the use of social media should be a no-brainer. Creative social media marketing tactics, with an emphasis on free word-of-mouth advertising, enable a startup to quickly grow its customer base. Long-term relationships and two-way interactions with those customers will soon follow. Make sure you and your business are creating those interactions, as well.

Chuck Reynolds
Contributor
Please click either Link to Learn more about Inbound Marketing.

Alan Zibluk Markethive Founding Member

The Rules of Social Media Marketing Success: Listen and Plan

The Rules of Social Media Marketing Success: Listen and Plan

 

Social media marketing leveled the playing field for marketers

in companies of all sizes. When done right, it offers a direct connection with your customers and insight into their needs, their attitudes towards your (and your competitor's) brand and their context. When done wrong, it's amazing the outsized headaches 140 characters can make. In this four-part series, I 'll be sharing the eight mandates that set your social media marketing strategy up for success so you hopefully avoid those headaches.

Start Listening

I believe that listening is the single most important key for marketers who want to be successful in social media. Although the average person spends about 45 percent of his or her waking hours listening, most of us are simply not very good at it. Various studies conducted over the years have shown that we comprehend and retain only about 25 percent of what we hear. With that challenge so prevalent, applying good listening strategies and skills in the social media environment becomes even more critical. "Intentional listening," as my friend and colleague Eric Fletcher calls it, should be front and center in your social media marketing strategy, as it plays an integral role in ensuring that you can find your target audience, hear and understand their wants and needs, and then effectively communicate with them in such a way that establishes trust and strong, long-lasting relationships.

At the outset of your social media marketing program — even before implementing your listening tactics — do your homework. Conduct surveys and focus groups. Gather responses and evaluate. And spend some quality time "lurking and learning" on Twitter, Facebook, LinkedIn and other social media channels to find out what your target audience has to say. Finally, make sure you're carefully monitoring your competitors as well. Are they listening to their constituents or just broadcasting marketing messages? You'll have to do a little old-fashioned detective work, but remember that with social media, the playing field truly has been leveled. You don't have to guess about who's doing what — just listen.

Plan Carefully

Too many marketers jump right in and start using various social tools — such as Twitter, Google plus and blogs — before they've even developed a strategic plan or thought about how those activities might impact the rest of their marketing initiatives. Don't make that mistake. Take a little time to determine how to best integrate social media into your existing marketing strategy and mix. It'll pay off for you.

Step one in the planning process is to nail down specific social media objectives, based on the listening activities detailed in the first mandate. Now that you know what your constituents care about and are discussing on social media, how does that impact the messages you need to communicate to them? Step two is to integrate your social media strategy into your overall marketing strategy to ensure you can leverage your resources efficiently and effectively and that common goals can be more easily reached. If you work for a large enterprise, you have two significant advantages over a small business when it comes to planning and budgeting for a social media marketing program. First, your company's DNA most likely has a built-in "think strategically" strand, and second, it also probably has a fairly large wallet. 

If, however, you work for or own a small business, you have an advantage as well. You most likely can make strategic decisions and launch new marketing programs fairly quickly. That can be a huge benefit in the fast-paced social media world. Finally, be sure you're prepared to monitor and measure your impact and progress. Establishing benchmarks and other metrics that can be tracked over time will help you better understand what's working and what's not, and thus be able to make whatever adjustments are necessary to ensure the success of your social media marketing activities.

Chuck Reynolds
Contributor
Please click either Link to Learn more about Inbound Marketing.

Alan Zibluk Markethive Founding Member

Santander is trying to redefine online banking through social media

Santander is trying to redefine online banking through social media

  Santander is trying to redefine online banking through social media

The social media strategy at Santander UK isn’t concerned with fan growth or sharing a quirky promotional post. Instead, the focus is on understanding how people might bank or use chatbots on social networks that command more of their time online.

Likes, retweets, and followers might be the gauge of a successful social media campaign to some marketers but for Keith Moor they are unnecessary. To Santander UK’s chief marketing officer, success is more about what are the experiences people are having within a particular channel and “much less about fan growth”. Teens now spend up to nine hours a day on social platforms, according to Global Web Index, while 30% of all time spent online is now allocated to social media interaction. So, if a person is more likely to be on Facebook when they need to check their account, then Santander wants to be the bank that lets them do that.

It “really won’t be just about social channels being places where people go to do ‘social stuff’,” says Moor of why this shift is so important for the bank. “They’re living their lives through those platforms and so we need to be in those places too,” he continues. “Why would someone bother coming out of an app when they can do most of their stuff within the app experience. We need to be part of that ecosystem.”

How Santander does this is still being mapped out and Moor admits there will be mistakes along the way. However, with social media budgets on the up at the bank thanks to redirected funds from print, the senior marketer wants the medium to play a bigger role in driving customer loyalty. Customer growth “isn’t really a primary focus” for the financial firm, which is why Moor won’t splash the cash on promotional posts and big social media campaigns to raise awareness. Rather, he sees Santander’s money going on chatbots, social banking and other services that could fit seamlessly into the way people behave on social networks.

Social media is not a promotional strategy at Santander, it’s about understanding what ‘punters’ want online

Whether someone is transferring money, paying a credit card bill or voicing their frustrations about certain services, knowing what features to offer customers and where requires more than just a bigger budget. It’s why Moor has recruited more people into the team to work on social media. Over time, he envisages a team bereft of social media experts for one where the responsibility for it is shared by all his marketers. By that same notion, he argues that the agencies he works with will have to treat the medium as a standard part of what they offer. “I want the agencies I’m working with – my main strategic partners – to have social baked into the heart of what they’re doing,” he demands. “And so that’s why in the teams that we have at Engine as well as Dentsu and Carat, the social infrastructure is part of the main team and isn’t a little bit on the side”.

Compliance, security, and privacy will be top of mind for both brand and agencies’ attempt to balance the need to protect people’s money with making them feel more empowered. Moor hints at the scale of the challenge ahead when talking about why Santander has been coy to move into mobile messaging. The rewards of having such a personalized dialogue with a customer are clear but so too is the security risk should the correct policies not be in place.

There’s “not much opportunity to use them [mobile messaging apps] now,” admits Moor. “Having said that we do have to find a way to exist on platforms like WhatsApp. The problem for us is the security angle, for banks that’s a big red herring. Many of the apps have a two-stage identification process and we need a bit more security than perhaps if someone were to buy a coat for example. People are very conscious of being secure with their money. It’s a fundamental part of what people like to keep private so we have to weight that up against people’s desire to do things in a more convenient manner.”

Changes on this scale will inevitably mean Santander ‘in-houses’ more of what it once briefed out to agencies. Yet, Moor is adamant this will help both brand and agency for the better even though some observers might argue it’s merely a chance to shave further costs amidst downward pressure on marketing budgets.

“My [marketing] budget hasn’t grown over the last few years if anything it’s gone down like most marketers’ budgets have,” admits Moor. Effectively, Santander only does “TV advertising, digital and social” now, he continues. The reason “why [social media] gets more money is because we can prove that the engagement levels are versus other channels and opportunities where perhaps you’re perceiving that a lot of people are getting our messages but maybe they’re not and you can’t tell which ones and which ones aren’t,” he continues.

As true as it might be that Santander can show the effectiveness of social media, it is still a way from knowing the real value of its efforts on the likes of Facebook and Twitter. Traditional media equivalency measures won’t cut it moving forward, explains Moor, who believes it will come down to untangling the reams of data he says social platforms will share. Santander is getting to the point “where we need to understand the real value of doing something [on social media], he adds. “It’s no good, for argument's sake, going ‘I can get reach easily on here versus over there’. That doesn’t really matter. What I need to know is do my customers like me more? Do they feel happier with us? And do they want to stay longer as a result of the interactions they’re having.

Moor didn’t offer much more as to how this will be achieved, in part because the business is still getting its head around measurement. Sales won’t be an indicator because banks “are never going to see a massive growth in sales directly off channels”. The promise of better measurement becomes all the more important amid the advent of so-called ‘open banking’, whereby banks will have to share data that they have historically held. The rationale behind the Open Banking Standard is that the customer experience should improve as a result of the data being used to build better applications and resources. Moor agrees, though admits there will be challenges ahead.

The challenge of customer loyalty in the era of Open Banking

"I think open banking and its philosophy makes it all the more important that you have a strong relationship with the customer so that you’re front of mind when they’re thinking about finance,” he adds. "And actually the more that you can work within the places where they’re living their lives than the more they’ll see that as being a good thing. I think banks almost have to let go a little bit to keep growing that trust."

Any progress Santander does make over the next year will have something to do with its partnership with social media management platform Sprinklr. A deal between brand and marketing tech platform was brokered after the former set up social command center several years ago. Since then it has gone on to form the backbone of its customer experience management plan. The setup means Moor and his team can access data on the fly, whether that’s brand health checks as well as unearthing potential reputational or operational risks. Such is the importance of the union that Moor views the data as the “key to unlocking everything”. The “next stage of the journey”, he continues, is how the bank develops “customer experiences through the social platforms”.

Beyond social media, the senior marketer offered a glimpse into the bank’s wider strategy. While it’s common for marketers to wax lyrical about the trials and tribulations of navigating a tricky media supply chain in the wake of the landmark speech from Procter & Gamble’s top marketer Marc Pritchard, Moor was campaigning for similar standards before it becomes the industry du jour. So much so that he worked with the bank’s lead media strategist Daniel Creed to create the role several years ago and the two have been worked in tandem to introduce everything from whitelists to their own viewability standards.

“We didn’t go to the agency and say ‘stick with these rules’, we sat down with them and we asked ‘what kind of rules can we set ourselves to feel confident,” Moor adds. “It’s one of the reasons why we still appear on Google’s platforms [despite the brand boycott of YouTube]. We’re not an advertiser who has withdrawn from those platforms. We’ve adjusted our spend so we can be sure we’re being safe but I’m not a great believer in pulling things off and threatening people with a big stick.”

Chuck Reynolds
Contributor
Please click either Link to Learn more about Inbound Marketing.

Alan Zibluk Markethive Founding Member

Zimbabwe derby sparks social media rows

Zimbabwe derby sparks
social media rows

  The Highlanders-Dynamos fixture has a history of crowd trouble

Officials argue at Barbourfields stadium

Football fans disagreeing with the referee's decisions is nothing new. But supporters making it impossible for the referee to do his job is something else. Zimbabwean football fans have taken to social media to vent their spleen following the abandonment of the country's biggest derby on Sunday. There was plenty of confusion and a smattering of anger when the Premier League match between Highlanders and Dynamos, the most famous and successful clubs, was called off just before the break.

The match commissioner took the decision with the score at 1-1 as he feared for the safety of one of the assistant referees at a packed Barbourfields Stadium in Bulawayo. In yet another incident that raised questions on issues of crowd control, Highlanders fans furious with the Dynamos equalizer hurled abuse and started throwing objects at assistant referee Thomas Kusosa, accusing him of allowing an "off side" goal to stand. Disturbances went on for an hour as fans and Highlanders players demanded that the assistant referee be replaced.

"I guess that we should have accepted that the referee has the final say, but we are a mixed multitude, and not all of our supporters will accept such a decision," said Highlanders chairman Modern Ngwenya.Highlanders v DynamosFootball fans have been arguing on social media about the abandoned game. Zimbabwe's biggest derby has a history of crowd trouble but anti-violence banners at the stadium and pleas before the match for supporters to remain calm were of little benefit. Eddie Chivero, the president of the Zimbabwe Soccer Supporters Association, feels that CCTV cameras are needed to monitor and identify troublemakers.

"We condemn violence in our football, but there is no way that we are going to identify the culprits unless we have CCTV cameras in our stadiums," said Chivero. "It's supposed to be priority number one, and stadiums without CCTV should not be allowed to host matches. None of Zimbabwe's stadiums has cameras in the stands, and the authorities are unlikely to make it happen for a while.

Chuck Reynolds
Contributor
Please click either Link to Learn more about Inbound Marketing.

Alan Zibluk Markethive Founding Member

Are You Maximizing The Use Of Video In Your Content Marketing Strategy?

Are You Maximizing The Use Of Video In Your Content Marketing Strategy?

Chief strategy officer and partner at Raindrop. We believe in the power of human connections and helping our clients build relationships. Did you know that more video content is uploaded to the internet in a single month than network television has produced in three decades? The world of content marketing and search engine optimization (SEO) might be complex and constantly evolving, but one thing is certain: Video continues to be a big driver of traffic. How can you use video to strengthen your content marketing strategy and SEO?

  

Leverage The World’s Second Largest Search Engine:
YouTube

YouTube is not simply a website; it is a search engine. YouTube’s user-friendliness, combined with the soaring popularity of video content, has made it the second largest search engine behind Google. With 3 billion searches per month, YouTube’s search volume is larger than that of Bing, Yahoo, AOL, and Ask.com combined. If YouTube’s user base were a country, it would be the third largest in the world. Since Google owns YouTube, video content hosted on YouTube ranks well on Google. One of the best ways to capture search traffic from YouTube is to create videos around topics people are searching for or talking about, from viral phenomena to commonly asked questions.

Drive Social Engagement

In addition to platforms such as YouTube, social networks are increasingly promoting more video content. You have likely noticed that your Facebook newsfeed is dominated by video content from friends, paid advertisers and the brands you follow. Consumers are hungry for engaging video content. It is critical that your business is creating content that users will want to view and share.Make sure your video has subtitles if you are sharing on Facebook. Users are very likely to be scrolling in an environment where they don’t want sound but may still want to watch your video. Don’t miss that opportunity to engage with them.

Showcase Video On Your Website

Video is a great way to quickly and easily explain your business’ unique value proposition and showcase your company culture. Explainer and introduction videos are really strong tools for your homepage or a “how it works” section on your website. Don’t assume that people want to read through your services or scroll through a bunch of products. Make it easier for them with video.

Email, Email, Email!

Yes, email marketing still works. You must always be providing value. Email is a terrific way to stay top-of-mind and in front of consumers because it goes directly to them. Also, consumers on your email list have likely opted-in at some point, so it is a warm audience that is ready to hear from you.

There are tools that allow you to embed video directly into email campaigns, but video can be just as effective in email if you simply tease the video in the email and push users to your website. Those who are interested will click through. The key to successful email marketing is to create content that provides value.

What Type of Content Should Your Business be Creating?

You are probably now wondering, “Okay, I know where my video content should live, but what content should I be producing?” Here are a few ideas for types of impactful video content:

  • Answer common questions. 
    This is a great tactic for SEO since searchers often search in question format. Think of the most common questions you get from potential customers and those are the same questions they are Googling.
  • Make engaging, funny videos.
     Humans love to laugh and have short attention spans. Create content that speaks to both characteristics!
  • Show how your brand works in behind-the-scenes videos. 
    People want to know how your brand works and what makes you great.
  • Review products or services. 
    Share your expertise with the world by providing reviews on products/services related to your industry.
  • Create tutorials or explanation videos. 
    The internet is a wealth of knowledge and consumers are using it to research and learn. Capture some of this opportunity by creating relevant tutorials or tips videos for your audience.
  • Go live on social media platforms, such as Facebook Live. 
    Social platforms are always looking for ways to generate engagement and what better way than live video and interactions? Facebook and other networks are really pushing their live offerings and placing priority on these in their ranking algorithms. Take advantage of the extra traffic potential while it lasts. Be thoughtful with your content. Viewers may not want to watch you playing video games, but streaming your upcoming panel discussion, an inside look at the new office or anything that consumers may find interesting/relevant can drive real engagement in social.
  • Hold webinars or presentations. 
    Consumers are hungry for knowledge and love hearing from industry experts. Give them what they want.

Quality Is In The Content

One of the concerns clients have about creating video content is that the production quality will reflect poorly on their brand. Luckily, a content marketing plan should consist of a variety of video content and not all has to be national TV spot quality. As internet video is being consumed in record volume daily, production is becoming more affordable. The quality that people really care about is the content itself — are you providing them with a video that is helpful, useful, enlightening, applicable, entertaining or amusing? Achieve any combination of these qualities and you can expect success with your video marketing. Video can change the face of your content strategy and bring you closer to your audience. Make sure as you are planning out your next marketing roadmap that video has a prominent place in your content marketing strategy in order to capitalize on the benefits of YouTube, social networks and general consumer interest in video.

Chuck Reynolds
Contributor
Please click either Link to Learn more about Inbound Marketing.

Alan Zibluk Markethive Founding Member

UNDERLYING ASSET BITCOIN VALUE CLOSER TO $3000

UNDERLYING ASSET BITCOIN VALUE CLOSER TO $3000

UNDERLYING ASSET BITCOIN VALUE CLOSER TO $3000

 

Bitcoin price has been skyrocketing, before this weekend’s cyber attack hiccup, but prices are again on the move upward. How much is a Bitcoin really worth right now? American investors are seeing a true value of more than 70% higher than the market rate this week.

As Bitcoin does not have any real level of mainstream investor access like an ETF, even though that is still a possibility, the next best thing right now is shares in the Grayscale Bitcoin Trust, or GBTC, according to sources. The Grayscale Bitcoin Trust is one of the very few ways to access Bitcoin through a standard brokerage account.

In the case of Bitcoin, its price has moved up about 50% over the last month, and the GBTC has nearly doubled. The extra buying and demand for exposure have pushed a premium onto shares of GBTC. To calculate the premium that you may be paying, you have to take your GBTC shares and times them by about 10.75. According to the company’s website, each share is about 0.093 BTC, as of late last month.

CLOSE TO $3000 BITCOIN VALUE

Just six weeks ago, shares were trading at half the price they are now. April 1st, 2017, GBTC shares were selling for $110 USD, and now they closing at $220, and have peaked at $265 each during inter-day trading. When you multiply these share values times 10.75, you are much closer to $3000 USD than you are the current market prices in the $1700-1800 range. $265 in GBTC shares converts to $2849 in underlying asset value.

This level of a premium price, in the 70% range, means there is a bubble forming, at least in this sector of the over-the-counter market, and now is not the time to buy. Even in markets like India, where Bitcoin currency is high in demand, it is selling at just over 20% over market. It may be advisable to wait until the market settles, which may not be until next month.

Considering these investment market realities, it is not hard to understand the mainstream interest in a future Bitcoin ETF to provide some level of competition. This is also a good indicator that the current price is legit, and a major, sustained Bitcoin price drop is not in the cards anytime soon, at least not in the U.S. market.

 

David Ogden
Entrepreneur

Alan Zibluk Markethive Founding Member

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