In episode #520, Eric and Neil talk about the year ahead in marketing and cover it all in six minutes. Tune in to hear what’s going to change and how to stay ahead of the curve in 2018.
Time-Stamped Show Notes:
- [00:27] Today’s Topic: 6 Minutes of Marketing that Will Get You Ready for 2018
- [00:35] It’s important to start looking at video and working on your video strategy.
- [01:10] The rate at which video is growing, it’s important to grab a slice of that pie.
- [01:30] Even Instagram has video!
- [01:42] Look at the struggling platforms. Facebook is trying to compete with YouTube, but they want different types of content from YouTube. You will get way more reach with certain types of video on Facebook.
- [02:25] Neil has 900,000 Facebook fans, 30,000 LinkedIn Connections, but his video views on LinkedIn equate to same amount as Facebook.
- [02:50] Snapchat has been getting their butts handed to them by Instagram. So, they’re willing to do whatever it takes to win. They will tweak their algorithms to your advantage.
- [03:13] LinkedIn will get you more listens and views than YouTube.
- [03:26] Twitter clicks get you pennies, but the clicks are connections being made.
- [04:15] Really focus in on the one thing that has been working for you and then double down on it.
- [04:40] How Eric and Neil have doubled down: Eric and Neil now sit next to each other in the studio, they post their show on Spotify, and they do live episodes at various conferences.
- [05:00] Ad costs are going to rise in 2018.
- [05:14] As the costs rise on AdWords and Facebook, you will have to: create a funnel, push upsells, and push downsells.
- [05:30] Without a funnel, it will be harder for you to compete.
- [05:49] Live chat is going to get exponentially better in 2018. Facebook has added the ability to add free Facebook Messenger Live Chat to your site. Drift has added a developer platform. Intercom will continue to innovate, as well.
- [06:12] That’s your six minutes!
- [06:13] Go to singlegrain.com/giveaway if you want to get in on a special giveaway opportunity!
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The post 6 Minutes of Marketing that Will Get You Ready for 2018 | Ep. #520 appeared first on Marketing School Podcast.
Full Transcript of The Episode
Eric Siu: Welcome to another episode of Marketing School, I'm Eric Siu.
Neil Patel: And I'm Neil Patel.
Eric Siu: And today we're going to talk about Six Minutes of marketing that will get you ready for 2018. So welcome to day two of 2018. I'll go ahead and kick things off for this episode. So here's what I think is really important for 2018, I think it's important to start looking at video more. So a lot of people they haven't really thought about the video strategy because video is something that takes more time and it certainly has ... like on our end right now we're building our internal video capabilities and yes, it is a grind to figure out that entire process, to get the right people at the right attitude especially in Los Angeles where you have a lot of Hollywood people that can be all over the place, it's hard to find those people.
But I think at the rate of which video is growing right now, it's just getting more and more popular. I mean YouTube is the number two search engine in the world, even the formats that you're seeing everywhere. Facebook has a lot of video, they're introducing shows. YouTube you see everywhere they're ... they got their YouTube bread and then they have you know YouTube TV now and you hear about all the influencers and then also on Instagram too you see a lot of video. So having some kind of video strategy is going to be really important.
Neil Patel: You also want to look at the struggling social media networks out there. Yes, YouTube is popular, Facebook is popular but you want to look at the struggling ones. And what I mean struggling is, not necessarily Snapchat because it's losing to Instagram. You want to look at specific [inaudible 00:01:51] as well. So Facebook is trying to compete with YouTube when it comes to video. They have Facebook Live, YouTube has that as well but Facebook wants more people to put like documentary type of like daily episodes on Facebook.
So they have Facebook Watch, because everyone's uploading that type of content to YouTube and Facebook wants it more. So if you upload that kind of content to Facebook, you'll get way more reach just because they lack a lot of it. And same with LinkedIn. LinkedIn lacks a lot of video based content, so they give way more love to it then when you submit it on Facebook. For example, I have 900,000 Facebook fans, I have 30,000 LinkedIn friends or connections or whatever it maybe LinkedIn [inaudible 00:02:32].
And then I think I have like another 100 or so 1,000 people who are just like "following me," that I'm not connected to on LinkedIn, but my LinkedIn video views equate to roughly the same amount on Facebook. Yet my Facebook audience is at least roughly eight times bigger, LinkedIn lacks that content so they're willing to push you more.
Snapchat has been getting their butts handed to them by Instagram. They're willing to do whatever it takes to win. So when people are losing, what they'll do is they'll tweet their [inaudible 00:03:00] to make it more favorable to you. So don't just look for the most popular social network, look for what they're losing in it, features wise and then go leverage that. So for example if you're doing videos, upload it to LinkedIn because you'll get way more listens and views than you will, let's say on YouTube or even Facebook when it comes to follower and subscriber [inaudible 00:03:21] views.
Eric Siu: Yeah and just to one thing I'll add on top of Neil's is look at Twitter as well. So with Twitter you know when we run ads sometimes we're getting clicks one penny, two pennies, three pennies and it's like, "Oh, great Eric." But those clicks probably are not that engaged. But the truth of the matter is, those clicks are engaged because they stay you know one minute or more and we are getting some good cost per acquisitions in terms of emails from Twitter. So don't sleep on Twitter, it's got a couple 100 million users on it. So the same thing on what Neil saying.
Actually when I was in Japan, I was looking Snapchat, it was the same freaking company running ads all the time and that's because Snapchat is not that popular there but like for someone like me that's still checking it I was getting those ads handed to me every single time and probably a pretty good buy for that company because I actually did take an action. Now the other thing I'll say is this, it's really easy for us to talk about other marketing tactics all the time especially for 2018, like all these stuff popping out.
We just talked about omnipresence but really focus in on maybe just one thing that's been really working well for you and double down on it. So let's say you're running a marketing agency, and your sales team is doing really well, why don't you double down on that? Or like if podcasting is doing really well, which it does for Neil and myself, I like where it's at, it's like, "Okay, well how do we get better at podcast? How do we double down? Okay, well we're sitting in the studio right now right next to each other, this is something we didn't do a year ago we're now on Spotify right, we're now speaking at conferences live where we're doing live versions of this podcast or let us know if you want to do that." But you get what I mean, like focus in on what's working and double down.
Neil Patel: You're also going to find that our costs are going to continue to rise in 2018, in 2017 you started seeing Google cost per clicks to go up and that was rare. Most people like, "Oh, it's going down." But that's because a lot more people are using mobile but now it started climbing back up again. And what you'll find is, as the costs continue to rise on AdWords and Facebook, which are the main two channels everyone's advertising on, you're going to have to create a funnel. It's not going to be as effective to just send people to a product or service and get them to buy.
You're going to have, to have up-sales and down-sales. Without a funnel, it's going to be harder for you to compete. So I would recommend in 2018 is create a funnel, have up-sales and down-sales or contingencies if people don't buy and that will allow you to spend more money, quicker than your competitors and just push them out of the way and really explode in growth.
Eric Siu: And the final thing I'll add from my side is, we've talked about a live chat before, I really think live chat is going to start to exponentially get better in 2018 and beyond. So if you look at Facebook, you have the ability to add a free Facebook Messenger live chat to your site. Drift has added a developer platform now, so that's going to get even better. And Intercom you can bet your ass that they're going to continue to innovate. So live chat, think about it you can also build a funnel for that as well and so that's Six Minutes and before we go just go to [inaudible 00:06:16].com/giveaway if you want to get in on a special giveaway that we have for you and we'll see you tomorrow.
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