How I Grew My Video Production Company To $650K/Year [Update]
This is a follow up story for D-MAK Productions. If you're interested in reading how they got started, published over 3 years ago, check it out here.
Hello again! Remind us who you are and what business you started.
Hello again! My name is Joe Forte, and I'm the co-owner and producer at D-MAK Productions, a Phoenix-based video production company. I founded this company after recognizing an opportunity to merge my passion for sales and marketing with my partner's creative expertise in video making.
We started with a vision to provide high-quality, impactful video content, and we've grown steadily every year since our inception.
Our flagship products include:
- Full-Service Video Production: From concept to completion, we take projects from script to screen, ensuring a seamless and professional production process.
- Production Services: We provide expert production crews for various projects, ensuring every shoot runs smoothly and efficiently.
- Video Editing: Whether it's creating animated videos, using stock footage, or transforming existing content, we craft spectacular videos that meet our clients' needs.
Our primary customers are large corporations such as Microsoft, Amazon, and Chipotle, to name a few. We've had the pleasure of working with these industry giants, delivering top-notch video solutions that meet their high standards.
In 2023, we achieved a significant milestone by grossing $654,000, our highest annual revenue to date. This achievement underscores our commitment to excellence and the trust our clients place in us.
Tell us about what you’ve been up to. Has the business been growing?
Since the last time we spoke, our business has grown by 10%. We've reached some significant milestones, including grossing $654,000 last year, the highest in our company's history. Additionally, we've added impressive new clients to our roster, such as Amazon, Microsoft, and TSMC, which has significantly boosted our credibility and portfolio.
One of the most effective steps we've taken to increase traffic and sales has been implementing a systematic approach to gathering reviews and referrals. After completing a project, we ask our clients for reviews and referrals, and many have obliged, leading to a noticeable increase in referral business.
This strategy has outperformed any other marketing method we've employed, underscoring the power of word-of-mouth in our industry.
Despite these gains, we faced some challenges earlier this year due to the economy. This resulted in a slowdown that forced us to let go of our junior employee. Additionally, we've noticed a decline in our traffic as we lost our top spot for "video production phoenix" - please hyperlink our website with video production phoenix) on Google.
This has been a significant hit, but it has only motivated us to redouble our efforts in SEO, guest blog posts, and other link-building strategies to reclaim our ranking.
We've been proactive in exploring new marketing channels and refining our existing ones. Social media, particularly Facebook ads, has been a valuable tool for us. We've also focused on PR efforts, writing articles, and engaging in networking events to increase our visibility. Email marketing and newsletters have helped us maintain strong relationships with our existing clients, keeping them informed about our latest projects and offerings.
To keep our existing customers happy and coming back, we've emphasized exceptional customer service and consistent communication. Regular follow-ups and personalized updates ensure our clients feel valued and appreciated. We've also been innovative in our video production services, constantly improving and adapting to the latest trends to meet and exceed our clients' expectations.
What have been your biggest challenges in the last year?
The biggest challenge we've faced recently is adapting to the changes in our Google rankings. While we still rank for numerous keywords, it's crucial to understand that the top ranking gets about 80% of the traffic for that keyword, with the second and third positions getting another 15%, and the final 5% going to all the others.
This shift has highlighted a vulnerability in our reliance on SEO and forced us to diversify our approach. We've increasingly focused on referrals, a tried and true method of building business, but this has also led to stagnating growth. While we saw a 10% sales increase from 2022 to 2023, we're unsure if we can achieve even a 5% growth this year, and there's a possibility we might have a flat year.
This challenge has prompted a lot of internal and mental struggles. The uncertainty of achieving our growth targets has been stressful, and there's a constant pressure to innovate and stay ahead.
We've had to let go of some strategies that once worked, like heavily relying on Google rankings, and adapt to new ones. It's been a learning curve, but we're committed to pushing through these hurdles and finding new ways to grow and succeed.
What worked in the past won't necessarily work in the future. Embrace change, stay informed about industry trends, and be willing to pivot your strategies when necessary.
What’s in the plans for the upcoming year, and the next 5 years?
In the upcoming year, we plan to expand our services to new regions and diversify our product offerings. We're exploring opportunities to establish a stronger presence in neighboring states, leveraging our success in Phoenix to enter new markets.
Additionally, we're excited to launch new video production services, including immersive 360-degree videos and augmented reality experiences, to cater to the growing demand for innovative and engaging content. We're also investing in advanced video editing tools and techniques to enhance the quality and creativity of our productions.
Looking ahead to the next five years, our vision is to become a leading video production company recognized nationwide for our creativity, quality, and customer service. We aim to double our annual revenue, reaching over $1 million, by expanding our client base to include more Fortune 500 companies and prominent brands.
We're committed to continuous improvement, staying ahead of industry trends, and adopting cutting-edge technology to deliver exceptional results. In the long term, we aspire to build a sustainable and scalable business model that allows us to grow while maintaining our high standards of quality and customer satisfaction.
Short-term, our goals include increasing our referral business, reclaiming our top Google rankings, and achieving a steady growth rate despite economic challenges. Long-term, we plan to expand our team with talented professionals who share our passion for video production, establish partnerships with other creative agencies, and create a robust training program to nurture new talent in the industry.
We're excited about the future and dedicated to turning our vision into reality, driven by our commitment to excellence and innovation.
Happy customers are more likely to refer you to others, creating a powerful and cost-effective marketing channel.
What’s the best thing you read in the last year?
The best thing I've read in the last year has been revisiting classic books that have had a profound impact on me and my business. "How to Win Friends and Influence People" by Dale Carnegie is a timeless guide to effective communication and building meaningful relationships.
It has reminded me of the importance of empathy, active listening, and genuine interest in others, which are crucial in both personal and professional interactions.
Another inspiring read has been "The Seasons of Life" by Jim Rohn. This book offers profound insights into the cyclical nature of life and business, emphasizing the importance of preparation, persistence, and adaptation.
Rereading it has reinforced my understanding of the different phases we go through and the importance of leveraging each season to its fullest. These books have not only provided valuable lessons but also a renewed sense of motivation and clarity for the future.
Advice for other entrepreneurs who might be struggling to grow their business?
For fellow entrepreneurs who might be struggling to grow their business, my top advice is to stay adaptable and continuously seek new opportunities for growth. One of the most critical lessons I've learned is that what worked in the past won't necessarily work in the future.
Markets change, customer preferences evolve, and new technologies emerge. Embrace change, stay informed about industry trends, and be willing to pivot your strategies when necessary.
One common mistake I see is a lack of focus on building strong relationships. Networking and maintaining genuine connections with clients, partners, and even competitors can open doors to new opportunities.
Prioritize customer satisfaction by providing exceptional service and consistently communicating with your clients. Happy customers are more likely to refer you to others, creating a powerful and cost-effective marketing channel.
Another key tip is to invest in your personal and professional growth. Read books, attend seminars, listen to podcasts, and seek mentorship from those who have succeeded in your field. Continuous learning not only enhances your skills but also keeps you inspired and motivated.
For example, revisiting classics like "How to Win Friends and Influence People" by Dale Carnegie has reinforced the importance of empathy and effective communication in business.
Lastly, don't be afraid to take risks and learn from failures. Every setback is an opportunity to learn and grow. Stay persistent and maintain a positive mindset, even when things get tough. Surround yourself with a supportive network of peers and mentors who can offer advice and encouragement. Remember, success is a journey, not a destination. Keep pushing forward, stay adaptable, and believe in your vision.
Are you looking to hire for certain positions right now?
We are currently not looking to hire someone until the economy improves and the political landscape from the upcoming election is behind us. However, we always welcome talented individuals to keep an eye on our website and social media channels for future opportunities. Thank you for your interest!
Where can we go to learn more?
If you have any questions or comments, drop a comment below!
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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