The 10x marketer vs the 1000x marketer, The 3 questions that make copywriting instantly work, and LTV, the number one metric marketers get wrong

0:00The 10x marketer versus the 1000x marketer.

0:30So 10X marketer, you might have to tell them what to do and they'll go execute it, but then they're going to be waiting for orders, waiting for orders, right? But 1000X marketers going to be leveraging like cursor or different workflows, agentic workflows. They're going to be building out all this stuff and they're going to be coming back to you and say, hey, Neil, I solved this problem over here. Here's the results. I'm going to move on to this thing over here. And they just keep going, keep going, keep going. And it's hard for you to even keep up with them, right? And that's what it feels good.

0:54It feels good to be pulled by a 1000X marketer. Whereas with a 10X marketer, you just have to push them a little bit. Yeah. And to me, the 10X marketer is more like a 0.5X marketer and they're just an order taker. The person who's a thousand X, they're better than you at a lot of things and they can go and figure out things on their own and you learn from them. And those are the ideal people to hire. And you got to unblock those people no matter what. You got to give them resources if you can. You got to surround them with stuff. Otherwise they're going to leave. Yes. When those people want to run, you let them run because typically they'll produce better results and make you more money.

1:28All right. What do you got? another one that I got is there was a report from 404 Media so is your phone listening? Marketing firm confirms that text behind you're acting like that's the popular media I have no idea what 404 Media is 404 Media is an online publication focused on technology and internet so they're getting it from somewhere it's like a research company is what it looks like but 404 Media reported according to them they have confirmed that smartphones are not just tracking users on like the activity they're also listening to what you say out loud near your phone but that's been like that for a while though i don't know people are listening to me when i'm you know around my phone and it's not talking to someone have you heard about the concept of the cocaine phone versus the kale phone i don't know what a cocaine phone is or a kale phone i'll finish and then we'll talk about the cocaine and the kale phone.

2:26Well, let's talk actually about the cocaine and the kale phone right now. So a cocaine phone. So cocaine phone is a phone that has all the apps, all the distractions, right? You might have Instagram, you have Uber, you have all these notifications bombarding you and you're just constantly checking, constantly checking dopamine hit, dopamine hit, dopamine hit, right? And well, it ends up making you, you still have stuff. You have email and stuff that's still dopamine hits, right? And you check your email all the time. I know you do. No, but go message me or send me an email. It doesn't notify me.

2:53No, I know. I don't have that either. I don't have notifications on. But my point is, I'm still susceptible to checking stuff. Even though I have all these blockers, right? It doesn't let me use Instagram from like 9 a.m. to 7 p.m. or something. And like Twitter, I can't use it either. But point is, a Kale phone has no apps. It has no apps. It has nothing. You just use it to make phone calls and text people. And that's it, right? And so when you do that, it makes you feel a lot calmer. And you just use the old phone for that. You might have to pay for another phone number to do it. but I do find myself like the more I use this if I go over like two, three over three hours of screen time I start to feel anxious less than that I'm alright I don't have these problems I also don't just check my emails randomly I don't put blockers on my phone I just don't use it that often yeah well you have discipline most people don't you're also single looking at a lot of most people don't need to use sorry, most people do use their phones a lot.

3:51And I see, dude, I see the behavior of like my friends. And then, you know, if I'm traveling or whatever, it's constant scrolling. When I took my mom to Vegas, I was surprised. I'm like, oh shit, she knows how to use YouTube. And she's just browsing shorts and she just keeps scrolling. Let's go back with you. Yeah. How much do you think your screen time would decrease? I don't have a lot of screen time on Instagram. Not Instagram. If you weren't texting people that you're dating. No, I don't have. I knew you're going to say that. I was trying to avoid it, but you still went into it anyway. Still went into it.

4:21Trying to avoid it. Not a lot. I don't use a lot. So if I use - Or communicating with them, Instagram or any of these apps. Here, let me look at my screen time over here. So my screen time, okay. Sweet Green, I was on for 56 minutes today. I don't know why I was on for 56 minutes. Wait, Sweet Screen has an app? Yeah, I used to order. I ordered a Green Goddess is chicken salad. It's amazing. Why don't you just go through Uber Eats? Because it's more expensive that way. Oh my God. And you get a sweet green, you get a membership. Do they deliver to you though? Yes. And they go through Uber anyway.

4:57But the thing is you get a discount. They give you like$10 discount sometimes,$3 discounts. There's like, you can be a member. All right. Okay. Gmail today only. Okay. So most use today is 56 minutes on sweet green. X was 41 minutes. Instagram was 37 minutes. Messages was 25 minutes. Gmail was 12 minutes. Live was 11 minutes. LinkedIn, five minutes. I've used this for - It's off. There's no way you were on Sweetgreen for 56 minutes. It's tracking it when you weren't using it. I think a lot of the tracking stuff is not perfect. Okay, let's check for the week. Okay. Instagram, 2.2 hours a day or total?

5:28Total for the last seven days. And then messages, two hours. Okay. That includes you as well. And then X would be one hour, 46 minutes. Eric does something that's really interesting. I don't do it, but I think it's a really smart move is he just keeps his phone on. Do not disturb. So that way when anyone texts him, it just does not notify. Did you know that with even random phone numbers, you can just block them? It just goes straight to voicemail. Do you have that set up? Yeah. Yeah. You dial like something, star something or something. It's just a setting. You just tap it and then that's it.

6:01You can dial something where it just blocks all spam callers. Oh, really? Yeah. I didn't know that. I saw that on Instagram. Someone shared it with me. Oh, you got valid. They texted it. And they're like, dial this and your iPhone will block. And I'm like, this seems like a hoax. Yeah. And then I just tried it. Oh, you got value from a reel. And then I was like, oh. And then my calls decreased drastically. Wow. Okay. What is the star? Do you remember what you texted? I do not. It was a long time ago. You could have got a lot of views from this reel. Yeah. But I would have got a lot of views. Guess how many customers?

6:33Zero. Zero. So it's okay. But yeah, going back to the phone listening, i think these companies are going to use this data more and more to just target us with ads yeah and just wait till they start doing everything offline ai gets integrated into your fridges and into your dishwashers and into your toilet near your microwaves and all that kind of stuff so neil your poop is very soft today yes you need to take these pills it will arrive in your house within one hour they get an affiliate commission yeah whoever makes that toilet is going to make a lot of money. The affiliate commission toilet. This could be great.

7:08Dude, the amount of health data that's probably in your stool, it's probably ridiculous. It's going to be a subscription and then whatever they recommend, they're going to get a cut. And then they'll probably partner up with other health companies to sell that data. The stool is worth a lot of money, Brad. Brad, are you going to create this company? Anyone who creates this company, feel free to hook us up on commission. Idea equity stake. Idea equity stake. Yeah. 5 % each is fine. And Eric will invest. Neil will invest. I'll be the ideas guy. No, no, no, no, no, no, no, no. Okay. I got to take a minute to tell you about the agency owners association.

7:46This is a peer group for agency owners. Think YPO or EO, but for agency owners. And I just wanted to read you a couple of testimonials. So this first one comes from Carrie and we asked her, what do you like most about the group? She said, having a group of people to discuss and bounce ideas. The leads are great too. Yes, we share leads in this group as as well. This one from Alian, he says the ability to really post whatever I want and need and the group responds. Great experience members, getting a lot of insights from conversations with other members, getting a lot of value from sessions from Eric, getting advice from others as well.

8:16And so if you want to grow your agency faster and you want a peer group to do so, just go to marketingschool.io slash agency. This is a group that both Neil and I created. And our hope here is to create a vibrant community of agency owners and do a lot more with it in the future. So again, at marketingschool.io slash agency, and we'll see you inside. I saw this really good, there's this guy that's been up and coming. I tried to actually give him money when he was like 21 or so. This was a couple of years ago. You can tell when someone's a rising star, right? Yeah. And so there's this guy named Harry Dry.

8:44He has a, I guess the company's called Marketing Examples, and he did an interview with David Perel. I recommend everyone watch this. It's like an hour and 30 minutes. Definitely work your time if you want to get better at copywriting. So these are the three questions that make copywriting instantly work, okay? Okay. Number one, can I visualize it? Right. Number two, can I falsify it? So can you disprove it? Like, can you cause some tension in there? Right. Number three, can nobody else say this? So let me give you an example. So when Apple first came out with the iPod, um, the ad, do you remember that ad, the iPod ad where it was like a silhouette dancing?

9:19No, it's yes, but no, the headline was, um, a thousand songs in your pocket. Remember that? Yes. Yeah. So can you visualize that yeah yeah it's in your pocket right that there's a thousand songs in there can you falsify it can you say like oh that maybe that's not true i guess you can say that right because you want you again you want there to be some tension um because if there's no tension it's like a story with no tension it's boring right um can nobody else say this that that part's actually debatable because at the time when the ipod came out i had other mp3 players that had like way more songs but um at least the visualized piece stands out to me and they had a bunch of other ads.

9:55I think it's like, you know, the new balance, right. It's like worn by like high end, like high end models. And then also worn by like your dad at the park. Right. And so like, that's, you can visualize that. Right. And you know, can nobody else say this? Like, I guess you can with new balance. Do you have new balances? No, never had them. Yeah. But no, I don't, but it's like, it's like, that's, that's kind of cool. Cause I, we've never thought about copywriting like that. At least I haven't. Like I, if I were to stick with one question here, it's like the visualization. If you're going to write something, can other people visualize it?

10:26Because if they can't, then it's harder. Like, you know what I mean? Yeah. Speaking of an interesting fact, did you know Microsoft had an iPod competitor called the Zoom or Zoom? Yeah, yeah, yeah. Zoom or Zoom? Yeah, I forgot one. I think it was better tech too. I know a guy named David who's working on that division years and years ago at Microsoft. It's like 20 plus years ago. It was a long time ago. You know why Microsoft killed it? because it got no sales no i believe it was generating 700 and something million dollars a year and it was growing wow steve balmer had a mandate at one point saying anything under a billion dollars or somewhere around there that's too small discretion let's focus on what's really important for the core business hey props to him for doing that yeah look at him now treat three trillion plus dollar business yeah damn sometimes you know what other people's gold is is your crap And even if it's doing really well for you, it could just be a distraction.

11:20You should double down on what's really working. One man's trash is another man's treasure. Yes. I don't know how often you do this, but if the founder or the co-founders are super focused, that trickles down to the entire organization. Because if you're not focused, then everyone else starts doing a bunch of different things, too. So it's really important to check with, hey, Neil, what are your top three priorities this week? It's like, okay, how do your three priorities relate to your number one KPI? It's like, oh, well, these two don't relate that much. Okay, what are you going to do to fix it?

11:53You have to constantly recalibrate. You have to be the bumpers there. And I think the founders are the ones that are going to care about this stuff. The founders are really going to care about this stuff. It's the shareholders, the ones who actually own a good chunk. I remember when Twitter was going through a sale to Elon. it was elon or someone complaining being like the board doesn't even control the majority of the shares of twitter do they really actually care about the corporation but when people are really heavily invested and when i say heavily invested not owning a few percentage points or five percent 20 plus where where you own enough and it's meaningful that's when you really care and you know with your shares you have an impact on the business and your say counts i think those people really care and they'll go above and beyond to protect the image, the product, the service, and make sure things are done right.

12:45What does Charlie Munger say? Don't compete with Patels for motels. Yes, he says that. But no, related to this, he says, show me the incentive and I'll show you the outcome. It's all about incentives at the end of the day. You got to set them up correctly. Otherwise you're going to be in trouble. Like, by the way, when you set up incentives and you've seen this a thousand times, when you set up incentives with someone that's really motivated, everything just flies. Yeah. You know what I mean? And, um, J Paul Getty, I went to the Getty, the Getty Villa the other day. Um, but the Getty what? The Getty Villa.

13:16He has a Getty museum here and a Getty Villa. I know the museum. Yeah. He built like a Roman like Villa. Um, it's right by, it's on, it's right by, um, Pacific coast highway. Check it out. It's, it's, it's free. You can go. Oh, but what is it? Like, I don't understand what a Getty Villa is. It's like, so he built like a Roman Villa and it houses all his art. Like he He has a bunch of vases and torsos and things like that. It's interesting. So another museum. Yeah, it's another museum. But he really was inspired by Italian art and culture. And so he decided to build a villa out there. That's why it's called Getty Villa.

13:50But his whole thing is, what were we just talking about? I was tying it to something. The Charlie Munger. The incentives, right? He had a guy named Simon or something, a very capable guy, right? And this guy was one of his – he ran one of his oil rigs. and he's like dude Simon like I come in here I inspect the place and I figure out the problem the solution in an hour you're a really smart guy like why can't you figure it out because I can figure it out and Simon's like dude you own the damn thing you own all of this of course anyone that's incentivized is going to figure it out much quicker than someone that's not and then so Jay Paul Gaye's like huh so then he goes home and he's like you know what goes back the next day he's like okay I'm gonna give you a profit share and all this stuff everything goes flying right and so you can't give incentives to someone that's incompetent because I've done that before I I don't know if you had, it just never works.

14:33They still fall flat. But when you have it set up correctly with someone that's motivated, oh my God. Dude, totally. I want to take a second to tell you about my podcast co-host agency. So NP Digital, so Neil Patel Digital. What they do is they do a whole host of marketing services and they are global. They're worldwide. They have SMB services as well. They have mid-market to enterprise services as well. They cover the entire gamut. So you can just go to mpdigital.com to learn more about it. And now back to the episode. The number one reason that I see marketers fail with their marketing is not truly understanding the LTV.

15:10I don't know what it is, but marketers believe once you get a number of your lifetime value of your customer, and a lot of people actually have the wrong number, but once they have it, they believe, all right, now I can spend up to X dollars to acquire a customer. What a lot of marketers get wrong is when you're optimizing your marketing per channel, the lifetime value of your customer usually is a little bit different per channel as well. For example, we see Google SEO traffic driving a much higher LTV than Instagram ads, right? And marketers just take this arbitrary number of their LTV. You mean they blend it?

15:47They blend it, but then they're taking this number and And they're just like, oh, okay, if our LTV is$500, profitably, we can spend$200 per channel. Well, if you're just blending it, but the majority of your customers come from Instagram now instead of Google, and your Google LTV was more like$600, and your Instagram LTV was like$350, you got a problem. Yep. And by the way, one of my opinions is like on LTV, maybe you should optimize on gross profit LTV. The Black Friday Cyber Monday weekend is where systems get stress tested. Traffic surges, inventory moves fast, and every second counts. You need a platform built for the moment.

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16:57This Black Friday, join the thousands of new entrepreneurs hearing for the first time with Shopify. Sign up for your free trial today at shopify.com slash marketing school. That's shopify.com slash marketing school. Go to shopify.com slash marketing school and make this Black Friday one to remember. you can we we look at your lifetime value and we look at all the numbers my point is you should look at potentially look at both yes because people get lazy i think the more you can get marketers to think like business people and then bring them into the business world and then talk maybe they're sitting on some finance meetings the better they'll be in terms of uh performing better yeah and then their goal should not just be to get more traffic and generate more customers profitably, marketers also need to focus on maximizing the LTV.

17:50In other words, can you send more emails and get more repeat purchases? Can you figure out the number one reason people don't come back and buy your product or the number one reason they churn and start fixing some of those things? Can you figure out how to introduce new products and get them to buy more things within your ecosystem so that way they spend more money? Because if you can do a lot of those kinds of things, not only will your LTV go up, it means you can spend much more money to acquire a customer and it opens up usually in those cases new marketing channels that you haven't tested before all right that is it for today please don't forget to rate review subscribe go to markingschool.io agency it is now application only so you can't even pay to get in if you wanted to get in now you have to apply um and so that is it for today but other than that we'll see you tomorrow

18:42Thank you.