In short
Marketing School Podcast Episode Notes
Episode Title
How We Keep A Positive Mindset When Things Are Rocky Economically, AI Has Killed Informational Content For SEO
Episode Description
In this episode (#2982), Eric Siu and Neil Patel discuss
- Maintaining a positive mindset during economic challenges.
- Shifts in content marketing strategies driven by AI.
- The need for original, value-driven content that resonates with the ideal customer.
- The importance of staying top of mind in business and the role of status in consumer behavior.
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Time-Stamped Show Notes
(00:00) Navigating Economic Challenges with a Positive Mindset
- Discussion on current economic struggles and inflation concerns.
- Emphasis on looking for opportunities in tough times.
(03:36) Resilience in the Face of Adversity
- The importance of not succumbing to negativity.
- Emphasizing a proactive approach to challenges.
(07:13) The Importance of Perspective and Value
- Maintaining perspective during difficult times.
- Focusing on adding value to others as a means to overcome adversities.
(10:01) Adapting to Change in Business and Life
- The necessity of adapting strategies during downturns.
- How challenges can present opportunities for growth.
(11:01) The Shift in Content Marketing Strategies
- Changes in content marketing due to AI advancements.
- The decline of traditional informational content strategies.
(12:36) The Era of Original Content
- Shifting focus from regurgitated content to original and insightful pieces.
- Discussion on the importance of authenticity in content creation.
(15:00) Adapting to the New Meta in Content Creation
- The need to evolve with the changing content landscape.
- The significance of staying relevant and innovative in marketing approaches.
(17:10) Creating Value-Driven Content
- Prioritizing content that is genuinely helpful for the target audience.
- Moving away from generic content toward personalized insights.
(19:08) Staying Top of Mind in Business
- The necessity of brand visibility and consumer engagement.
- Strategies for remaining relevant in the minds of potential customers.
(21:40) The Influence of Status on Consumer Behavior
- Discussion on how societal status affects purchasing decisions.
- The impact of branding and product quality on market success.
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Key Takeaways
Positive Mindset in Tough Times
- Resilience: Maintain a proactive and positive approach during economic downturns.
- Perspective: Recognizing that challenges are universal; it’s how one responds that sets them apart.
Changes in Content Marketing
- AI Influence: The rise of AI has transformed content marketing, diminishing the effectiveness of traditional informational content.
- Original Content: There’s a shift towards creating original, valuable content that resonates more deeply with audiences.
Staying Relevant
- Customer Focus: Understanding the target audience is crucial. Create content tailored to their needs and preferences.
- Brand Visibility: Use various marketing strategies to ensure the brand remains top of mind for consumers.
Consumer Behavior Insights
- Status and Branding: Recognizing the role of status in consumer behavior can inform marketing strategies and product development.
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Conclusion In this episode, Eric and Neil underscore the importance of resilience, adaptability, and genuine content creation in navigating economic challenges and shifting marketing landscapes. They advocate for a focus on original content that brings real value to audiences, emphasizing that staying relevant and visible is crucial for success in business. The discussion also touches on the profound impact of societal status on consumer behavior, urging marketers to consider these factors in their strategies.
Connect with Us
- Single Grain: [Eric's Ad Agency](https://www.singlegrain.com)
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- Social Media:
- X: [@neilpatel](https://twitter.com/neilpatel), [@ericosiu](https://twitter.com/ericosiu)
- Instagram: [@neilpatel](https://www.instagram.com/neilpatel), [@ericosiu](https://www.instagram.com/ericosiu)
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Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:01Speaking of wrong, you have one here on how we keep a positive mindset when things are rocky economically. Where did that come from? I think people are just struggling right now. Inflation numbers came out today. I think what are they? I didn't check anything this week. 2.1. And I'm like, lower the damn rates. They won't lower the rates though, but I really want them to lower the rates. I hope they do. Do you know what? It's funny. Oh no, I have to tell you this offline. This is a, this is a off topic. Anyway, keep, keep going. And same with the tariffs, right? the three people part of the international court or whatever it was called they like blocked it and then he appealed it and right when he blocked it i'm like man he's gonna find a way around this i'm not saying tariffs are here to stay or not all i know is right now business is hard because a lot of stuff that just people like eric and i can't control but you and i always have things that happen to us we never really moped each other we never really moped to others and being like man man, it sucks.
1:02We will talk about like a leads are down this month or it's tougher this month, but we don't really get depressed about it. We don't really start whining. We don't go into a corner and ball up. We look for opportunities because if you think about our mindset, we usually look at downturns, whether it's Google making changes or Instagram or Facebook or ads not working as well as they once were conversion rates going down over time because people are getting used to the offer. We generally think of things as opportunities. So when shit gets bad, excuse my language, you and I think about, well, if it's bad for us and bad for a lot of other people, how can we climb out of this?
1:41Or when things, when we're all able to climb out of this, how do we actually use this opportunity to get ahead of our competition? Because during bad times, most people pull back and take their foot off the gas for most things just because times are tough. Yeah. And that's why, by the way, like those of you that are watching this, we're recording virtually, but I have this Warren Buffett and Charlie Munger statue. And so the reason I like them so much is because these philosophies stick with you. It's like, one, our favorite holding period is forever. Two, you know, be greedy when others are fearful, right?
2:16And then be fearful when others are greedy. Like these things all stick with you. It's like these old wise uncles, right? And so it's when things happen that are rocky in the economy or even like personally. So like for just to give a little more context, I had a death in the family. Right. And so in that, in that example, it's like, okay, well that sucks, but what am I going to do? Cry about it? Or what can I do to get stronger from this? Right. And that's the more you start to train that muscle, the more it's just like working out. You've just become really buff over a period of time. And if you look at it that way, it's just a very healthy way of looking at it.
2:47And I'll give you another Charlie Munger thing. So Charlie Munger's over here, Charlie Munger's over here. Okay. So Charlie Munger says, you cannot let one tragedy beget another one, right? So if something bad happens to you, you can't just mope about it. No, you get yourself back up and you keep going, right? And so I remember for him, he was blind in one eye. He's gone now, rest in peace. But he was blind in one eye and then he lost his son, one of his sons at age 29. And I was looking at this on AI, by the way. I was like, what's the most painful? The most painful loss first is either your mom or it's like losing a kid, right?
3:21But most people aren't going to lose a kid because you're not supposed to lose a kid. You're supposed to outlive them, right? But my point of saying all this is that, yes, that happened to him. You're supposed to outlive you. Yeah, your kid's supposed to outlive you. Yeah, sorry, sorry, sorry. But you understand where I'm coming from. It's just like, that's what we're saying ultimately. We've talked about the economy and all these things of the terrorists, all this, but at the end of the day, you only worry about what you can control. And that is life. Like that's why business is one of the best trainers for you to, to, to learn life.
3:48And you can't let things hold you back. I was talking to Eric and he had that incident and his family 30 minutes before I call. And we're supposed to be part of the podcast, which we're doing today, literally the next day. And I asked him, I'm like, do you want me to figure it out? You know, you don't have to record. And he's just like, no, he's like, life moves on, you need to be strong. And he'll deal with the situation in his own way, but he's also keeping in mind that you can't just stop. The world doesn't stop for you. It sucks, but that's the reality. When you're doing something in your business and you get kicked, whether it's marketing or sales are down or the economy's down so that people don't want to buy your product as much, or there's a new competitor that's cheaper, you got to keep going and figuring out alternatives.
4:39If you don't, you're just going to have a slow, painful death. And you got to keep pushing and fighting back. It sucks. But those hard times is what really makes you strong and resilient. Yeah. You know what? I think the way to tie this all together too is, you know, I mentioned before that the people who end up the most depressed are the ones that are most entitled. And those are often the ones who don't have any resilience. And so So each challenge, like everyone will say, oh, my life was so challenging. It's like everybody's life is challenging. Everybody's like everyone faces adversity. It's more so what do you do with it?
5:12And going back to Warren Buffett again, were you useful in your life? And that's what it comes down to. Were you useful? Were you productive? And so for this loved one, my God, so many family members came over. So many friends came over. And it's because of what that person did and what that person meant to everyone, right? One person even flew in last minute from they heard about it. And then they flew in from Austin like last minute. and it was like a quick day trip, right? But like, and by the way, on the flip side of that, there are people I know who if something happens, they won't get any calls, they won't get any messages.
5:40It's because they haven't provided a lot of value and they weren't useful, right? And so that's all we're saying. We're not trying to make this a rah-rah thing, but as long as you're useful, as long as you keep going, there's no way you're going to lose, Rocky or not, because Rocky's gonna come no matter what. And always think that when things are really good for you, there's other people who have it much better than you. and when things are really bad for you, there's always other people have it much worse than you. And that helps keep you level-headed so that way you can just push through. I was talking with one of my colleagues yesterday who's also become a good friend over the years and he has knee problems.
6:16And of course, it's gonna affect his work and all this kind of stuff and I don't mind. I want him to make sure that he's healing up. And I was like, dude, what are you doing? You gotta take care of yourself. And he's like, Neil, this isn't a big deal. He's like, I always remember my grandmother during hard times. I'm like, what do you mean? And he's just like, he's Jewish. So his grandmother had to deal with the Holocaust. And he's just like, she was running away. What do you mean to deal with the Holocaust? Or she was around the time. She was Jewish. I don't know what happened to her at the end, but there was German fighter planes shooting.
6:50And she was walking with two kids in her hands with a bullet in the leg. And she's just like, I didn't feel the pain. I had no choice. I had to just keep going. Yeah. By the way, that's real struggle. What we deal with here is like a walk in the park, you know? Like, sure, it's mentally taxing, but I think having to save your family physically and all that type of stuff, I actually think that's way harder, so. Dude, same. I was talking to my mother-in-law the other day and she said, you guys had it easy. And she was talking about one of her family members and she's like, she just gave birth. And I'm like, when did she give birth?
7:22She's like, when she was walking from North Korea to South Korea, she gave birth right then and didn't have a choice, but to walk with a newborn child to get out of North Korea. And how is that? That is a real pain. Yeah, that's hardcore. That's why I think resilience, like the trouble, and I think I told you this before, we did like a private dinner and a lot of these people were YPURs and they have kids, right? And they're like, I was like, so what's the biggest concern you guys have? It's like that our kids won't have any resilience. And I'm sure that's a concern for you too, because you want to protect your kids, but at the same time, you can't have them be unchallenged.
7:58You can't because if they grow up not just lazy, but they don't want to keep trying when things go wrong, then you're going to have issues. And I was trying to teach my daughter. My daughter and son excel at different subjects. My son is really good at math. He's three. And for three-year-olds, you can ask him like 18 plus 23 minus nine, and he'll give you the answer, which is pretty decent for three-year-olds. Takes after you. Right? And then with my daughter, she was reading at the age of two. My son was reading early too, but my daughter's comprehension and reading is way better than my son's for the age when she started.
8:36But his math is much stronger than hers. They excel at different subjects. The problem that you have is when something doesn't come naturally easy to them, it's harder to get them to just push through. And I'm like, no, you don't give up. You keep fighting for it. And dude, how many times have you and I dealt with algorithm changes where traffic's just changed for a client or ours and we're like, oh, got to figure it out. Yeah. Right. But I've never once, and I don't think you have either. I've never once been like, oh, woe is me. I'm going to be sad and cry about it. Like, that's what I don't understand.
9:09And you've never really cried about these things either. Uh-uh. You can't. Because in the grand scheme of things, what's the worst case that happens? We're still healthy. We have family members that love us. We have food on the table. like it's not that bad in the grand scheme of things, just push on and make the best of it. Yeah, and by the way, so at least for me, and I think probably for you too, I've learned the most important thing is honestly just family and friends. And then you work on what you work on because it's fun, it's like a video game. And then you take care of your health because it allows you to work on the things that you wanna work on.
9:41It allows you to be the person you wanna be for your friends and family. And life is short anyway, like that's all it is at the end of the day. So I wouldn't worry too much about this rocky economy. It's funny, my record, relatives were talking about this week. Oh, this and this and happening right now, this and this, he's a, you know, we, you know, so-and-so is evil, blah, blah, blah. I'm just like, who cares? None of that matters. Yeah. No, it really doesn't. Dude, people always tell me all the time, SEO is dead. What are you going to do? And I'm like, you think SEO is dead. I'm still generating traffic and revenue from it.
10:13My clients are generating revenue and profit and income from it. And I'm like, your way is dead. You keep stressing out about that and moping. I'm gonna go figure out how to get my clients mentioned on all the LLMs, get the brand awareness and help them generate revenue over their competition. You guys saw Eric's spreadsheet in this episode or the previous episode, if you're looking on YouTube, where he was sharing his screen of how the leads heard about Carrot, his ABM solution. If you look at that, a lot of them said YouTube. Where are they going on YouTube to click a link? Like they're not.
10:46Eric's not linking to Kara in the description. I'm assuming you're not. I haven't checked, but I'm pretty. I don't think we are. I actually don't know. And what's happening is, is he's more so just mentioning it within a video. I bet you're probably screen sharing and showing some of the cool stuff you're doing in some of the videos. Yeah, it's like a 30 second mid roll and it shares like a quick like screen grab. Yes, and people are seeing it. And I bet you his mid roll, I haven't seen it yet, is not a pitch. It's more so he's educating how he's using it to get better results for people. And then people are like, oh, cool.
11:18This could be helpful for me. They're just going on Google searching and then boom, they're clicking. So those referral logs will probably show that they either came direct or they came from a Google search. But in fact, a lot of them heard about it from YouTube. By the way, I do think we should also talk about, we can talk about YouTube too, but I think the fact that, okay, Tim Solo put up this post over here and I can actually share my screen because we're on mobile. You don't even have your mic on, huh? You don't have your mic. Yeah. Yeah. Anyway, do you see this? Okay. Yeah. So Tim Solo, um, so it says in the next three years, AI is going to kill informational content, quote unquote, as a marketing strategy.
11:55And honestly, I couldn't be happier about it because what is your typical quote unquote, informational content strategy? One, pick a popular keyword. Two, look up who ranks in top 10 for it. Three, pay a random copywriter to write a more in depth, quote unquote, piece of content. Four, buy some links to trick Google into thinking that your page is better than others. But now, because a lot of people aren't getting those clicks anymore, and this just isn't going to work that well anymore, right? People with this informational content, like the how-to stuff or what is, is not getting much traffic because it's just being answered by the LLMs or AIO.
12:28I think the question here is, what should people do knowing that their traffic, their website traffic is going down? Well, to go back, I think Tim also mentions one thing before we can go into this. He says, this is great because it's going to enter in the era of original content, which I agree with. And you and I have been talking about this a lot. Everyone's using AI to create more regurgitated content faster. Content marketing still works. People consume video content more on an hourly basis per day, if you look at the stats, than they do consuming content from Google. The question is, who is going to create original content that people want to consume?
13:09And this doesn't mean that people aren't consuming content from Google, because Google is also ranking video content and audio content and images, but they're also ranking text-based content, which a lot of people consume. Eric and I have proofs of this. If you just look at our blogs, they still get a lot of traffic. It's more so what content can you create that's original and helpful to people that's not just regurgitated. And we're all tired of reading articles like, what is SEO or the beginner's guide to SEO or the advanced guide to SEO? and I was a victim of this. Moz wrote the Beginner's Guide to SEO.
13:41I wrote the Advanced Guide to SEO. But you're talking about probably like 15 plus years ago where this stuff wasn't as common. In today's world, I was at lunch with someone and they were showing me their Instagram stats and like, dude, you got more followers than me. Look, I got 6.5 million views. You only got 1.4 in the last 30 days. And some of their content was things like, don't get married until you own a house. and it was random content like that, I'm like, this content's cool. It's gonna get you famous. It's gonna get you eyeballs, but it's hard to make money from that content. And my content, when you look at it, is very specific towards businesses trying to grow in today's environment.
14:22It's not gonna get the same amount of views. No one really cares to share content around like, here's a podcast growth over the last 10 years and I'm showing how it's declining, but it peaked a few years ago. But it's really useful for businesses because in that same post, I break down how more people are listening to podcasts. It's not that competitive because a lot of podcasts have died down. So this is a perfect opportunity for you to go and create one. You gotta pick and choose what you're optimizing for. When Eric and I create content in this new world, we don't create content that a lot of other people have already talked about the same stuff or regurgitated.
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17:09And by the way, what we're talking about here is the meta, right? And the meta just means the most optimized way of playing a game. So meta is basically, yes, the Facebook meta, M-E-T-A. It's not them, but that's what it's called, right? This expression. And so the meta 15 years ago, 10 years ago was, yes, the beginner's guide, skyscraper content, all this stuff, right? And build a bunch of links, throw a bunch of links at it. But that's no longer the game and that the game has changed. And so the game that we play now, and part of the reason we do this podcast is one, we get to share stories that are unique to us.
17:37That makes us stand out. Two, Neil can share to his YouTube, his unique perspectives with his YouTube stuff. I do the same thing too. Sometimes we'll even share when we're speaking at conferences that helps from a branding perspective as well. But in order to stand out, you actually have to be out there doing things, which is what we talked about earlier. You have to be useful. You have to be doing things. Otherwise, you're just gonna start saying all the things that other people are saying. And so that's why it's interesting. I think if you are a leader in your company, if you're a business operator and you're maybe part-time creating content, because you can share front, you're on the front lines of all the cool stuff that you're doing.
18:12Yeah, and that's what people wanna see. They wanna see the stuff that you've experienced that no one else has, and they wanna see you sharing that. Because that's what teaches them more than anything else. People want firsthand experience. And when they can't get firsthand experience, they want to see other people's firsthand experience. If you are creating content, think about what you can share that would be useful for others. And I know you may be thinking, hey, Neil and Eric, I'm not an expert, so I can't share content within my space. Well, it's okay if you're not an expert. You're also on a journey.
18:45And sharing the process throughout your journey and what you're going through is very useful too for other people who may want to follow. Yep. Yeah. So I think where we have gone wrong in the past, just to give you guys some examples with this podcast is we followed a formula like that worked well for the first one or two years or so, like how to learn marketing. And then we started to regurgitate the same content over and over and we weren't sharing our experiences. Right. And so we adapted over time. We now we've been sharing more experiences. We do more in person because it's a more free flowing conversation.
19:15Also, it looks more natural, too. And so that's a good that's what works well for us. We've adapted our YouTube game as well. I think we both kind of slacked on YouTube for a little bit. And now the fact that we're going into, we're getting outlines done for us. We're recording looms ahead of time. We're going, we have a nice studio setup too. I think you just have to, it goes back to what we said earlier. You have to adapt into the current meta for whatever channel that you're trying to optimize for. Yes. And when you're creating content, just keep in mind your ideal customer profile and create content for them.
19:46Don't worry about the total number of views that you're getting. I know you want that number to go up. Over time, it should. Don't obsess about the design quality or the editing quality of your video. What matters more than that is a quality of the content. And when I say the quality of the content is how useful is it for your ideal customer when they're listening or watching or reading? When you do those kinds of things, that's what generates revenue. And that really is the goal because when Eric and I first created our podcast to go a little bit more specific with this or get a little bit more granular, our episodes were like the top five digital marketing tools that we're using to grow our SEO.
20:23Top five Chrome extensions. What Eric and Neil learned by being in the SEO industry for 20 years. And then we would each break down one thing and go rotate, right? So I would say a thing, then Eric would, and then we would keep going back and forth until we're done with our list. But all of this stuff, it just starts getting boring because that's what everyone started to do. And then Eric and I switched this to, hey, let's just come up with a list of topics and then we'll discuss this during our podcast. And we do that still today, but what it's shifted to again is instead of making them five-minute episodes where marketing school was quick, short, digestible marketing insights, it started becoming longer episodes.
21:03We have a list of topics that we can cover, but Eric and I more so riff most of the time and we just discuss stuff that's either top of mind related to business or marketing, or we just share our experiences on what we're doing during the week and what's helping and what's hurting. Yeah, and it's not going to help everyone, right? But if, you know, our bet is there's going to be a certain subset of people that fit our ICP and they get a light bulb moment from us every now and then. And that's going to be enough to keep us top of mind where they'll remember us if they want to do business with Neil, they want to do business with me.
21:31That's cool. But this whole name of the game of the business that we're in is really just staying top of mind. Yeah. And that is the key. You look at Nike. The reason Nike has done well over all the years is because they stay top of mind with They're just due at commercials. And I know their new CMO talked about how Nike's been struggling. And one of the reasons they think they've been struggling is they over-index in performance marketing. Think of like Google ads when we're talking performance marketing versus just straight up doing brand campaigns like billboards or TV ads. I think the Nike CMO is wrong.
22:05When you do performance marketing, you are getting brand awareness. I'm not saying the Nike CMO doesn't realize that. It probably does, or she probably does. I think the reason Nike struggled isn't the marketing. I think, and it's not the brand awareness. It's if you look at their apparel products, they suck compared to Aloe, Lululemon, Viore, and a lot of those other brands. They haven't kept the product up to date. And it doesn't matter how good you're at marketing, if your product just sucks and you're not innovating and adapting, you can spend a lot of money, but the smaller companies who have better products are gonna take market share.
22:38I have a new Aloe product that's sitting, a box that's sitting in my kitchen right now. it's i think it's called mastodon or something like that or mason maybe that's the the name of the line but it's basically non-polyester and it's like better ingredients that don't have forever chemicals and things like that so but but see this is another thing i found on twitter it's like oh i'm interested in living for a longer period of time oh okay someone lists levels io listed the guy that made the games um that got like 77 million impressions or something like that so it's just i don't know it's but that's him randomly talking about games sometimes he's we're only talking about traveling sometimes sometimes he might it's just like oh i trust this guy i'm just gonna buy because he recommended it so yeah and now i learned about it so if eric likes it i'll end up buying it how do you attribute that at the same token i read about this new brand called uh arithnic or something like that it's a clothing brand like lululemon i'm pronouncing it wrong but they say a lot of the chinese billionaires wear it uh what does it cost for me to Chinese billionaires yoga brand are...
Read the full transcript
23:45I'm spelling it so wrong. A-R-C-T-E-R-Y-X. Never heard of it. Do you have one? Arctri-X or something like that? I think I know what you're talking about. Yeah. A-R-C and there's a possibly T-E-R-Y-X. Arctri-X. I'm terrible with English and grammar. Buff. I saw it somewhere online and they're talking about how that company just boomed because of all these Chinese rich people are wearing them. And because the billionaires are wearing them, the politicians in China are wearing them. And then a lot of the people now strive to wear those kinds of clothes. They're not the most expensive clothes, but they're super popular because of that.
24:21Well, I say this as a Chinese person, we're very driven by status. So, yeah, you didn't know that. Okay. So it's funny because, so we don't have a God. The only God we have is a money God. I think I told you that before. Yeah. And so oftentimes this is why when I'm eating with my family and all that, why are they always taking pictures of their food all the time? They're showing off the food. They're showing off that, right? And so, yeah, I say this as a Chinese person, guys, if you haven't seen my face. But that is it for today, guys. Please don't forget to rate, view, subscribe. And that being said, we will see you tomorrow.
25:06We'll be right back.
