ChatGPT gets banned, The 110M impression LinkedIn page, OnlyFans funnels, Dharmesh Shah spends $10M+ on domains, David Sacks ChatGPT post (R2)

0:00Welcome to Marketing School, the only podcast that provides daily top-level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach. Let's start leveling up your marketing knowledge with your instructors, Neil Patel and Eric Su.

0:41lot of impressions and it's per month, right? Well, see, I didn't want to give it away, but now it kind of gets a little closer to who it is. So now I can't reveal revenue numbers. So anyway, as I was saying, this person gets, um, gets a hundred, we'll just reveal who the person is. Um, he, he runs a page called marketing millennials. His name is Daniel Murray. And, um, I want to talk about how he's growing this page and it's, it's from my understanding, it does multiple seven figures a year. And he basically started growing it in 2020. and this one channel is LinkedIn. And so the one thing that, you know, I wanted to go into a little more detail here is kind of how he monetizes and what type of content he posts to get the 110 million impressions.

1:22Cause that's a lot on LinkedIn, especially if you're considering how much you're paying for a typical CPM or per click on LinkedIn. And so here's the first thing I will say, and then I'll kick it over to you, Neil, to kind of get your reaction here. I didn't know this. I don't know if you know this, Neil, but did you know that a LinkedIn page, actually a company page versus a personal page, there's a big difference? Do you know what the difference is? No, but I don't know what the difference is, but we see with corporate pages, they get a lot of love compared to personal pages. Yeah. And the reason for that, so Neil's kind of seeing this, is that a company page doesn't get throttled as much as a personal page does.

2:04So if you're posting too much to your personal page on LinkedIn, you get throttled, your reach gets throttled. But a company page, according to what Daniel was saying is it doesn't get throttled, which is why you can kind of go to town. And so what he's done for his marketing millennials page is it's very simple, right? And I don't want to, I don't want to make, I don't want to make it sound like it's easy, but it's very simple. What he does is he will take memes or kind of quotes from other people, nice images, and it just posted to LinkedIn and you just cite the person and it'll do really well.

2:31And so an example of this is earlier this week, what I did was Tim Solo from Ahrefs, he posted a picture on how like everyone's becoming an AI expert very quickly. So I just took it from Twitter. He got like 18 likes or whatever on Twitter. I took it from Twitter, I put it on LinkedIn, I gave him credit. I got 2 ,700 likes and 170 ,000 people that saw it. So that's literally what Daniel Murray does. That's one of his main growth strategies to propel that page. Yeah, if you look at his content specifically, it doesn't matter if you're B2B or B2C. If you want to go viral on Twitter and get the amount of impressions that like marketing millennials is, you got to post content that appeals to the masses.

3:10So he'll have content like an image that says, focus on what matters. And it'll be a circle and a small fraction of it, call it like one 10th of it is highlighted in red. And he's like, focus here. And 90 % of the circle will be, he'll label it like things we obsess about. And he's telling you don't focus there. or there'll be a little meme of like a one-person team, a one-person team marketers doing everything. And it's just like a person on a one-wheel tricycle juggling, putting stuff on their head. Or he has another image that says like growth is never a straight line and it's just a jaggy line that goes up and to the right.

3:49Here's the thing to know. If you're looking to generate revenue from newsletters, ads, things like that, these impression counts, not bad. Go for, you know, a big chunk of impressions, whatever's going to generate the most. If you're looking for, and this is specifically on LinkedIn, if you're looking for enterprise clients, because I know a lot of you guys use LinkedIn for enterprise marketing. If you put out a lot of broad content, we've done a lot of tests on this. It's not going to help you generate the right type of customers. If you're looking for enterprise software sales, enterprise consulting contracts, you got to get very specific targeting the actual position and the type of person that you want to sell into.

4:31So for example, we sell a lot of times into marketing managers, head of marketing, VP of marketing, VP of growth, CMOs. So we'll try to post content that appeals specifically to them, like a case study of results we provided for another client, or we'll post content on things like, you know, cookie list world for marketers and what enterprise companies need to understand for that because that's something that they're concerned a lot about, at least from our talks with Forrester. So covering topics like that won't create the virality, won't get us 110 million impressions, but it does generate really qualified leads and revenue for us.

5:11Yeah, and this actually dovetails into, I was going to talk about the, I went to a private creator event earlier this week in Vegas. Neil wasn't in town, but I dropped by, And there are a lot of YouTube creators there. There are some TikTok creators. There are some OnlyFans creators as well. And one of the main kind of a fireside chat that night was from these two YouTubers, Sam and Colby. And they go around exploring haunted houses, right? And they have about 8 million subs on YouTube. And so I found it to be one thing that really stuck with me on what they said. And this kind of ties into what you're saying, Neil, is the idea of spectacle marketing versus relationship building marketing, right?

5:49Or like spectacle content versus relationship building content. So when you think about spectacles, it's like Mr. Beast, right? Like he hired an assassin to like find him or whatever, right? And you win like a hundred thousand at the very end. Or like, I just saw a video yesterday where like it shows him on a$1 plane versus a flight versus a$500 ,000 flight. And there's like this, it's a whole lot of work to do, right? Now, what that means is that's a spectacle, right? You're going to get a lot of views to get a Neil's point, but also relationship marketing or content on the other side is you might be going deep in one area, but even your total addressable market for your content is much smaller, but it's getting a lot more targeted and you're going to be able to build a deeper relationship.

6:28And so what they do is instead of doing these five to 10 minute spectacles, now they're doing like one hour, two hour, maybe they're more like long form, could be like long form content that they're making or could be interviews. It's a little different because you're going deep on the relationship there. So kind of similar, kind of different, but that's why I wanted to combine them together. I do want to show the screen as well. So, Neil, let me – I'm going to try this presentation. Oh, upgrade your plan to team. Okay, yep, not doing that. So let's move over to – move over here. Eric and I are still Google.

6:59Bad economy. Say every penny you can. Yes, you can see the example I was talking about if you're watching us on YouTube of him telling you where to focus in the circle or the growth line. But you can see how his content just appealed to broad audiences. He has an image of Kim Kardashian leveraging a meme there. But this is stuff that's not going to drive you really qualified leads for enterprise, but it can get you a ton of followers. And then when you do post related content, hopefully – Oh, my god. Your audience see it. Dude, this is the one I posted.

7:37That's funny. He did even better. So basically, Daniel took a meme that I maybe I repost or maybe he saw from someone else, but he's giving credit over here. And it actually did better than mine. I'm sure this one got like three or four hundred thousand impressions. But the quality of your impressions matters to Neil's point. So that's that. So I'm going to stop the share on this one and I'll close it off and then we'll switch it over to what Neil's talking about, wants to talk about in a second. But this YouTube creators event that I went to, a couple of lessons I learned. I'm actually just going to share one for now.

8:09One is everyone has their own unique funnel. And so as I was saying earlier, I met a gal that does OnlyFans. And I have no judgment for those that do OnlyFans. Like your business is your business, right? I'm just looking at this from a marketing standpoint. And so she drives all her traffic from Twitter. So she posts like a photo of herself, like photos of herself, right? And sometimes these photos will get like 1 million impressions, 2 million impressions or so. And then in the comments, they'll just say subscribe to my OnlyFans. So it's very simple funnel, right? Like people see what they want.

8:40It's like, if you want to upgrade, go over to OnlyFans, right? That's the model that she has. And she does over seven figures a year just doing that. And I'm oversimplifying. It's not just doing that. It's very simple. It's not easy because there's a lot of work that goes into content creation on that side. Now, that's one example with Twitter. But then there's another guy I know. He uses TikTok. And through TikTok, he drives all that traffic because TikTok, you could go the most viral of all the short form platforms. He chooses that, drives them to his Instagram page, and then through his Instagram page, drives them to a phone call to buy his$2 ,000 course.

9:14And through that, he's doing$20 million a year. He runs no ads. He's a solo person business, just like the OnlyFans gal. They're solo person businesses, and I just think that's really impressive what they're doing. Both of them actually are buying a bunch of rentals to either Cashflow or Airbnb, which is also Cashflow as well. But I find that really interesting. yeah um no it it definitely is dude what's funny is uh did you ever listen to the cody sperber interview of the olifans girl who the hell is that sorry not to be rude is uh he calls himself the clever investor oh yeah yeah yeah clever investor real estate guy really smart when it comes to real estate and more than that but he interviewed someone who's popular and olifans and uh yeah you know some of them are generating like millions and millions a month too yeah it's crazy you know and then in my head i was thinking i'm like what are they going to do in the long run like once once that revenue dies down because it doesn't last forever right it's just like i don't know the exact type of content that they're posting but it's not hard to guess and again i'm not judging it but if someone's posting or they're buying your content because of how you look we all get older it's natural there's nothing wrong with getting older are they going to still subscribe maybe they will because people are also so neil i asked her do you want to know the answer yeah you want to know the answer okay so i had the same question right so i just asked her straight up i was like okay so what happens you know in the next couple years like is this like a long-term thing and she was like no like i'm she's like i'm buying like a house every single year right now and i want to buy more homes and i just want to cash flow off the homes and i was like that's really smart you're buying assets you're buying assets yeah and you know what's funny um neil we Remember at the Miami Mastermind, we had Pom speaking, and Anthony Pompliano, he actually did an event, and one of the panels was four porn stars, right?

11:08And all of them have become investors now. They're no longer doing porn. And so the whole idea here is that you can't keep working, like getting paid by the hour. You have to have assets at the end of the day. Otherwise, you're not really wealthy. yeah the big lesson for any of you guys whether it's only fans or not the question is is how can you make your money work for you instead of you continually having to work for the money and it's funny because i travel a lot you know uh eric knows this he was messaging me on another event but like right now i'm pretty much traveling every single week which kind of gets hard with uh wife and kids.

11:44So much so like I even thought about buying a jet. I spent way too many hours last year looking at jets bad for the environment. My wife and I are little green people. And then I started looking again, just because like, I miss being around my kids. And I'm like, I can probably cut my travel down into half of the days I'm away from my children. If I buy a plane or charter i can do one or the other uh and i mainly travel international which it kind of gets really expensive but uh you know the overall point is when i travel for events i don't know why i brought up the jet point but when i travel for events most people look at me as a marketer and eric knows this although i'm already leading him by asking him this question eric what do you see me as i mean no i actually see you more as a business person now maybe i used to see you as a marketer before we met, but it's different now.

12:39But I also know you really well, so it's different. Yes. And I don't make the majority of my money from marketing. I make it from business and investments and it compounds over time. It's how do you get your money to work for you more and more over time? That is really the key to succeeding. That's actually another lesson. So I don't know, Neil, we talked about this a couple of years ago, but I used to hate the fact that people looked at me as, they looked at both of us as SEO people first. Right. And then kind of a subset of marketing. I'm like, God, that's so annoying. Like, I feel like I'm so much more than that.

13:10But at the end of the day, it's actually good to be known for like one area because it's like easy for people to understand. And so I've grown to like accept that. And I think it's the same for you. Yeah. I don't really care what people think of me as it's more. So if you are a marketer, whether it's affiliate marketer or any of that market, and that's how you generate your income, it doesn't mean you need to take your money and only make more by doing more marketing stuff. It could be you buy an e-commerce site, do your marketing talents on it, and then have that residual income without you running it anymore and you sip pina coladas on the beach.

13:43Whatever it may be. Or I take a lot of my money and I park it in venture funds, private equity funds, and hedge funds, and I'm getting consistent returns. I've been doing that for ages where now I could just live off that money and I don't ever need to work again. Yes, that money isn't, quote unquote, as liquid. I also do stocks or quite a bit of stocks as well. But still, it's consistent enough. If you invest in them every single year and you've been doing it for 10 years, you have enough liquidity each year. Or I can just do a capital call on a hedge fund or sell some of my stocks or anything like that.

14:15And now, these days, the banks will actually lend you against your private equity holdings. Yep. So I think it's important for those of you that are looking to buy assets, you have to understand what the timeline looks like for your return and what type of return that you might get, right? And understand kind of the risk profiles of each thing that you're going to put in. So, for example, not to go too deep on this, but if you're going to put money into a venture fund, your money is probably locked up for usually their timeline seven years, right? Sometimes it could be longer than that or whatever.

14:43But those are like, you know, you're going to get a hit every now and then, right? You're going to get like hopefully a hundred bagger or a thousand bagger or whatever it is, right? Um, but you know, and oftentimes it goes to zero. So you just have to understand your rich profile. Usually if you're buying real estate, then you're going to have this cap rate, right? And it's, it's, it's a, it's a legit, like it's illiquid, but it's like a physical asset. Right. And so a lot of people like it. It's easy to understand. People are always going to need to live in spots and maybe we'll do an episode on this separately if you guys like it.

15:08Um, and by the way, we do appreciate all the new reviews that are coming in that like the long form videos. Yeah. Keep it up. That'll keep us going here. So, um, let's go on the next subject. So, Neil, you brought this up. And again, Neil was traveling this week, but he saw this one that caught his eye on ChatGPT getting banned in Italy. Yeah, the word about claims to the work that ChatGPT is producing the content based off of. So ChatGPT is a much, much, much, much better version than an article spinner when it comes to creating content. Here's what I mean by that, right? And I'm not trying to degrade what Sam Altman did with OpenAI.

15:46It's amazing. Our article spinner is you input content and it spins out a variation of that content. So it's using the input sources and then it's spitting out text for you. Now what ChatGPT is doing for most marketers, and it does way more than this, but just in a basic form, it's scraping the web for content on any topic so that when you ask it a question related to a specific segment, like if you ask it a question related to social media marketing, it goes and looks at all the content that is scraped around social media marketing, and it'll create new content based off of that, right? So in essence, it's using original pieces of article or information as a sources to go and create something new.

16:32And Italy doesn't like that. And I bet you're going to see way more countries not liking it as well. And it's not just from a text-based content perspective, with the responses they're giving, with the poems they're writing with anything that you're asking chat gpt to do it's pulling from a database full of content and that content is what it's using to go and create new content that's why i always say it's a better and a new version of an article spinner not trying to undermine what open ai did it's really complex i'm not smart enough to do what they did it's genius and yeah i think you're going to have way more countries within europe having issues and i would first see it out of Europe because that's where you have GDPR and they're very strict and picky about privacy.

17:16And then maybe you'll start seeing other countries start following suit. Or at least there's going to be either a lawsuits or a lot of legal issues. And I'm not a lawyer, but I bet something like that's going to follow. If not, you're going to get the ambulance chasers, at least in the United States, trying to sue someone because they use chat GPT and figure out how they can just make a quick buck. Yep. So, you know, we're going to tie all this again and give you the marketing lesson in a bit, but I just wanted to show you this, my screen here as, Neil, I don't know if you know this, but when we were babies, this actually happened.

17:49Teachers wanted to ban calculators in 1988. Have you seen this? No. Yeah. So teachers wanted to ban it, right? I mean, it's rightfully so, because this is like a more intense version. Like, ChatGVD can basically do your homework for you. It could do a lot more than that. And here's the other thing. I don't if you saw this, Neil, but David Sachs, who founded Yammer and is a, he's, let's just call him a popular SaaS investor. He's one of the co-hosts of the All In podcast. He did this post over here on the give to get model for AI startups. So you can see almost 20 years ago, startup named Jigsaw.

18:20I'm not going to read the whole thing here, but it's a pretty well done post over here, right? So it basically, his whole argument here is - You're still sharing your screen on the teachers wanting to ban capital. Oh, am I? Yeah, let me switch. Let me switch. Sorry. Thanks for a call out. Here, one second. Let's switch over to this one, this David Sachs one. Okay. So this post over here, so he has his sub stack, right? There's a post within a post here. I just want to show you this post. It's pretty good. And you scroll over here, it just, this give to get model, right? It's pretty long form. And you know what?

18:50Most of it was done by AI. It's like he's making a point and most of it was done by AI. I'm wondering how many words this was. Okay. This is about 1100 words or so so decent word count but you know he had a whole bit if it's 1100 words the chances are he helped modify it because there's no way oh he did absolutely but i'm just saying those ai tools don't produce 1100 words that are really well written most ai writers will produce around 500 words for you just for reference for most of you guys yes you can get them to produce like 750 and stuff but the moment you want to have them produce a thousand plus words and it'd be high quality, you have to do more of a paragraph by paragraph output.

19:26Check this out. Neil, can you see this screen? Yeah. Okay. So there's a site called ShareGPT, so you can actually share the conversations you're having with ChatGPT. So he starts it off with, are you familiar with the technology startup called Jigsaw that was acquired by Salesforce.com? Unfortunately, Neil and I are both familiar with this, which dates us. Can you provide a detailed summary of his company history, business model, and product? So he can see, this is nice, okay, right? That's the correct company. Can you tell me about its unique crowdsourced approach to collecting and maintaining data?

19:55I'm not going to bore you with all that. But basically, as he goes through this, he's like, okay, can you create a blog post for us? And then the content, some of the output will get cut off and it'll be like, oh, you're cut off. Can you finish it off? And then it'll actually finish it off. Oh, can you create a table for me, right? The whole idea here of me showing this to you right now is that you can use Assistant. Oftentimes for me, even when I was talking to Neil today, he wanted to record earlier. I was in the middle of ideating for more content. And that's where I get blocked usually. And I think a lot of content creators do.

20:22You have an ideator here for you that can also do the research and you can handle the last mile of the editing, you know, adding links, you know, citations and things like that. And you can see this is a deep conversation, but maybe this got like, you know, 50 or 60 % of the work done. And then he edited the rest. Right. And I think because the genie is out of the bottle, I'm going to stop my share here. But because of the genie is out of the bottle on this stuff, I don't believe you can try to ban. And you can try to petition like earlier this week, there's a petition signed by Elon Musk and all these people.

20:52Like the market wants what it wants. And once the genie is out of the bottle, like you can't put it back in. Same thing with crypto, right? It's very hard to put it back in, especially since crypto has been around for a while too. But I digress. Yep. Look, at the end of the day, you know, if you look at chat GPT and AI, it's here to stay. It's just going to go through a lot of legal hurdles, regulation hurdles. and it's going to go through a lot of ups and downs, but eventually it's going to be used more and more in businesses to just make life easier, whether it's in helping write content, which is what most marketers think, but start thinking bigger, like it helping you analyze analytics in real time and then you making more informed marketing decisions daily versus monthly or quarterly and you would have way less wasted spend, which may not seem like a big deal to you, but think about a company like Procter & Gamble where they spend over 8 billion, billion with a B dollars in advertising, doing daily analysis of your analytics and your campaigns, if I had a guess, would easily save them hundreds and hundreds of millions of dollars, right?

21:59So for enterprise businesses, it will save them an arm and a leg. And then also think about it from a process standpoint. It'll make things much more efficient. Yeah. And at the end of the day, we live in a capitalistic society. I don't care where you live in the world, right? It's whatever country. still there's a lot of capitalism going on so um i'm not going to speak on that anymore but um one one thing we want to touch upon that was also related this i was talking to neil before we started recording was um dharmesh shah who is one of the co-founders of hubspot um he recently was quoted as spending over eight figures over 10 million on uh the domain chat.com and he spent about seven figures on the domain prompt.com and just to give a little more context here um obviously with chat GPT and obviously with, with, um, chat GPT, you have to think of the best prompts, right.

22:48And also you're chatting with it as well. And so he hasn't quite figured out what he wants to do with chat.com, but at least with prompt.com, at least, you know, that, that might be a site where he has like the, the, the best prompts, right. Because prompt engineering is very much a thing now. And so what I wanted to talk about, um, actually, Neil, let's get your reaction first, and then I'll give you my reaction in terms of what I think the business marketing cases here too. When I first started my business, the overwhelm was real. I didn't have the tools to help me scale. If only I had Shopify from the start to handle all the behind the scenes work.

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