In this video, top entrepreneurs Nathan Latka (Heyo Founder), Daisy Jing (Banish CEO), Neville Medhora (Entrepreneur & Copywriter), Drew Sanocki (Nerd Marketing Founder), Landon Ray (ONTRAPORT CEO), Timo Rein (Pipedrive Co-Founder), and Stephan Aarstol (Tower Paddle Boards CEO) tell Eric Siu about the best marketing lessons they have learned over the years.
In these clips from the Growth Everywhere podcast, you’ll learn about copying great ideas (Nathan Latka), doing influencer marketing right (Daisy Jing), dominating your niche (Neville Medhora), using Excel for customer segmentation (Drew Sanocki), offering less expensive products to bring your brand attention (Landon Ray), taking a global approach to marketing (Timo Rein), and using a compelling value proposition (Stephan Aarstol).
1) GE Ep 153 : How Nathan Latka Drove $4.5M+ in Sales Via Webinars with His ‘10x Partner Rule’
2) GE Ep 204 : How Daisy Jing Accidentally Became an Entrepreneur and Now Runs a $3M ARR Company
3) GE Ep 112 : How Neville Medhora Grew AppSumo’s Customer Base to 750k With Email
4) GE Ep 144 : Drew Sanocki On Why Expanding a Business Too Fast Can Actually Lead to Bankruptcy
5) GE Ep 175 : How Landon Ray Took ONTRAPORT from a Dozen Customers to 1,000 Customers in Just 2 Months
6) GE 124 : Pipedrive’s Unique Marketing Approach That Earned Them Customers in 100+ Countries
7) GE Ep 176 : How Half-Priced Paddle Boards and 5-Hour Workdays Grew Tower Paddle Boards’ Revenues 42% within 1 Year
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Full Transcript of The Video
Nathan: You know artists who think like they have to come out something original and new every time, usually just fail dramatically. It's way better to look at what's already working and copy the hell out of it, and then do it better. Understand what they're doing, copy it and then add your own spin, and that will usually make you do it even better. I mean, that's how my next business, I will probably be doing exactly that. I will copy how CVS built itself back in the day, I'll understand what they did, I'll do it now, but then I'll apply new nuances to it, and I'll beat them.
But yeah, reverse engineer the hell out of me, and look, by the way, Eric, I don't like that because I have to pay, right? Everyone that opts in, I have to pay a little bit to active campaign a little more and work on those apps. So I actually hate that, right? But listen, go steal from me. Reverse engineer the hell out of it.
Daisy: Yeah, so right now we have a pretty rigorous system of how we do it, and I don't think it's as easy as just sending people products and expecting them to review it. I think that the biggest thing is that you have to look for people who aren't big yet, because once they get big, they get very expensive, and we've noticed that you don't necessarily get an ROI if you work with someone who's very established, so we try to work with people when they're smaller and build a relationship with them, and sometimes they'll blow up, right? And so that's kind of how we do it, but it's really, you have to do it day after day after day after day. You have to figure out what your marketing channel is, and then just keep at it day after day after day. So now we have a team who does that all the time. And I think I'm also very good at spotting influencers, so when I watch a girl on YouTube or I see her on Instagram, and I notice she has that spark that will allow her to grow and blow up in the next year, I just do whatever I can to contact her and make sure that we're able to work with her.
Neville: Let's say I'm trying to dominate, I don't know, the dog training niche, right? Instead of doing little articles here and there, just go on the search results and figure out what people are typing in about dog training, right? So type in dog training and figure out they're typing, "Oh, a dog training for chihuahuas." Right? Or "How to make a chihuahua sit." So then what you do is you make the best damn article about how to train a chihuahua to sit.
And if you can't make a proper article with video or audio or gifs or images or something that's better than other people, then you're not suited for this. Don't try. It's not going to work. Don't just write a shitty little three paragraph thing on how to make a chihuahua sit because that's not going to cut I nowadays. You have to beat out ehow and all these other big sites, so make the best damn article on how to make a chihuahua sit. And at the end, if it's a really big post, have a download for them, and say, "Hey, download this free guide on how to train your dog." Or just, "Download this entire post as a pdf. You can keep it on your phone for when you're trying to train your chihuahua." Or whatever like that. And that's basically what I do. If you type in how to become a copywriter on google, I should be like the first to third result or something like that.
Drew: Excel's the big one, you know. I'm in there modeling all the time, and increasingly Sequel and R, which is another data analysis tool. But you know, with a very simple Excel model, and if you go to nerdmarketing.com, my blog, I walk you through how to do this. And if you sign up for my list, I'll send you my model. But it's basically, for more retailers than you would imagine, it costs just as much to acquire a good customer as it does to acquire a bad customer. So if the question is how do you add another million dollars incremental revenue to your top line, there's a very strong argument to going out and acquiring more whale customers as opposed to the hundreds more minnow customers that you would have to acquire, so it's really just figuring out your customer acquisition costs and lifetime value, comparing those two numbers across a variety of marketing channels.
Landon: One of the things that we learned early on, actually, is what finally kind of helped us turned the corner, was that we have this more expensive product, we started with a $300 product, and we kind of struggled along there for a while. And it wasn't until we launched a $30 product that we really took off, and the plan was that we would have this $30 product, and the people would get a taste, and then they would upgrade. And that happened a little bit, but not nearly as much as something surprising that happened. And what it was was that people got the $30 product, and they liked it, and they were actually weren't qualified for the $300 product. They didn't have a business yet. They didn't have products yet, really. They couldn't support a $300 bill every month, but they liked what we were doing. They liked us as an organization, and they told their friends. It really kicked off the word-of-mouth, so other people started just showing up for our flagship product.
Timo: As an approach to marketing, not even marketing, but the approach to marketing because all of that was obviously very new for us. We had more experience building out a team, which is very outbound heavy, and sort of looking more at the enterprise type of deals. That's what we did before with Pipedrive. But thinking along these lines, how can we put a product in the hands of somebody in Peru, for example, I think that's sort of global level of thinking has helped us to come up with the right sort of pricing, the right sort of model for marketing, making sure that we take the right steps when we start the company, so there are many really important steps there, but I think that sort of this attitude towards marketing, how to make it global from the very beginning, has helped us a lot.
Stephan: Yeah, you basically have to have some compelling value proposition. Search engine optimization has boiled down to PR now, and if you want to do good PR, the first thing you have to do is you have to have a store, you have to have something that is compelling to talk about. If you don't, it doesn't matter how good your PR team is, it's just not going to work, right? And the same thing with marketing, if your product is an unnotable sort of piece of crap in general, or just sort of ho-hum, it doesn't matter how good your marketers are. It's going to be an uphill battle the whole way. Now on the other hand, if you figure out some incredible value proposition, or some incredible product, the marketing does itself.
Eric: I hope you enjoyed the video. Thanks for leveling up. Keep grinding. Don't forget to subscribe, and we'll see you tomorrow.
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