Why I Never Jump On "New" Marketing Channels, Innovation Is Overrated In Marketing, The Fortune Is In…

0:00Dude, I constantly get people sending me more and more marketing channels like some of the other days I told you to join clubhouse yeah I didn't want to and then some of the other days it's like uh be real now has x amount of active monthly users it's time I still don't know what be real is yeah and I was like no it's okay I don't need to read this tech hunch article I'm not joining be real and the same thing with like chat gpt when it first came out I was getting so many people being like dude you need to market on chat gpt it's amazing there's so much revenue to be had we now at this point know there's chat gpt is here to stay but when you look at the reality is there's too many companies that release new platforms and most of them don't do much and even the ones that get traction let's call it like reddit i would say reddit has gotten a lot of traction it's a i haven't checked their stock recently but before all this uh swings in the market i'll check for you it was like that ipad nine ten billion dollar market cap it was somewhere around there yeah so i don't know what it is today but call it eight to nine billion 18 18 yeah oh wow it's amazing it's quite high higher than i thought yeah i always thought it was like around 10 billion market cap but that could have been when they went down 39 year to date all right so when you look at reddit 18 is what you're saying this 18 billion market cap okay so at 18 billion market cap everyone's like even reddit oh it's amazing it's a big channel you don't need reddit in the mix to build a successful business.

1:28You need Google, you need Facebook, which includes Meta, which includes Facebook, Instagram, TikTok, depending on the industry. Sure. Pinterest, depending on the industry, Reddit can help, Snap can help, but it's really Google. If you look at the big ad players, it's Google, Meta, and Amazon in that order, that drive volume. And Amazon's not just for people selling products. I'm also talking about prime ads. You can do a lot of damage with prime ads just i don't know why a lot of people don't leverage uh prime for advertising yet and this is like just stick to the basics double down on them and then if a channel like chat gpt starts becoming more and more popular and you know it's here to stay then double down on it go after it right enter into it because at that point it's not like all your competitors are using it.

2:18Big companies take a long time to adapt. Small startups, maybe earlier than you, I'm pushing on a channel, but they don't have the resources and the budget to really go hard on a channel. I think a lot of marketers make a mistake where they try to do too many things at once, and they also include all the newest channels, and then they end up being average at everything, not even average, probably below average at everything. And so I like to dabble. Sure, I'll tell Neil, oh, check out Clubhouse. That didn't work out. I just, hey, Neil, check out air ops right but that in my face air ops remember air ops a little chat thing it was like that even lasts for like a week or two uh that was like nival's app remember oh yeah and brian uh brian from norgaard yeah yeah um i like trying these things and playing around with them but how i typically am though is i'm not the first wave like if it's d-day i'm not the first boat that pulls up right i'm probably like the fourth or fifth wave that comes in right maybe that's a crude analogy but my point that's a crude analogy but my point is you don't want to generally be be the first round, especially when it comes to stuff like this, because you don't know how it's going to turn out.

3:19So try to not necessarily be the early adopter, early, early adopter, just be the early adopter. And even then you should focus on what's already working well for you, because I guarantee you, you haven't saturated your channels, like your main channel. Most of the time people, before they saturate their main channel, they try to do 10 different things at once. Yeah. And for me, I'm not the first wave. I'm not the fourth wave. Um, I'm probably like the 15th yeah and he was coming out on a plane after yeah you're right i'm not even coming on a boat once planes can start flying i'll be there but the key is when planes start flying i take the first flight because at that point i know it's commercialized and i push hard and i just i i try to win by spending more time and money to make up for the lag my my observation of neil is he thinks like an investor here and oftentimes not oftentimes what really matters in investing is slugging percentage, meaning that how often you hit grand slams, right?

4:14It's your bet sizing that matters, right? So that's why when Scott Besson, our treasury secretary, got involved with the Bank of England, I think the pound, right? And Soros was like, oh, you're only going to bet 100 % of the fund? No, he said, how much do you want to bet? How much you want to bet? And they said 100%, right? And he's like, why not 200 %? Why not lever up and do this? And I think they levered up. And so when Neil bets, he does bet hard. I'm not going to say on what, but he does bet hard on marketing in general. But that's how you have to think about it. Like if you find something amazing, bet hard.

4:48Yeah, like when we're redoing our blog right now, and I don't know my internal costs are, but let's call it like 30 grand a month. And I'm starting to see traction. And I was like, huh, I got 2000 plus blog articles just in English. I don't know how many are in total on the blog between all the other languages let's call it like 8 000 or 10 000 i'm making up that number i do know i have over 2 000 plus in english and i was just telling the team i'm like so what happens if i spend a half a million dollars in three months i'm like can we handle the volume of work that needs to be done for me to spend a half a million dollars and they look at me and they're just like you're crazy but the moment i know i can get something to work it's pretty much i just go all in i spend the max amount of money i can yeah and the thing is it's crazy to most people but if you know the numbers it's not crazy correct because i'm just doing a calculation how much is each visitor worth how many visitors turn into leads how many leads turn into uh uh calls how many calls turn into pitches how many pitches turn into revenue and you know people will tell me i'll get people playing the double eye kit well google just did a massive change if to the algorithm if you look at their algorithm there's more ai overviews and they're like well once if they keep going in this direction i'm like yeah i don't care i'll get mentioned more in the ai overviews it'll be branding more top of funnel i bet you it'll still work out and they're like why and i'm like if you look at what's happened since the last update a lot of players in the b2b because we have access to a lot of data their traffic has dropped but their lead count has not dropped yeah right so they're still getting brand recognition they're losing some top of funnel brand awareness, but they are getting some brand awareness from the mentions of the AI overviews.

6:34But they're middle of the funnel and bottom of the funnel still kicking in and they're still generating leads. And I was like, yeah, I'm okay. Let's place the bet. And they're like, you sure? I'm like, yeah, I'm ready to go. I don't care to have this discussion again. The next call we have, I want to know how much can I spend as quick as possible? And this was literally happening today and like oh cool when do you want to schedule from like monday at the latest yeah you know i was being nice i'm not gonna tell people work on a sunday yeah because there's too many people involved like monday morning yeah how do they react they're like cool sounds good like we'll gather the data and we should have it ready for you on saturday or sunday because when i do calls with my team i don't like showing up to a call and then getting a presentation and then review it there.

7:20I want to review the data prior to the call. And then everyone comes and discuss what do we see wrong with the plan? How do we need to adjust? What are some holes? So then that way we're spending time on execution being productive versus wasting 30, 40 minutes on everyone going over a plan that they should have went on their own time. And then having to do another call to go over the execution side. Yeah, yeah. You know, a related topic you actually have to this is why innovation is overrated in marketing. And so what you kind of briefly touched on earlier is oftentimes in marketing, unless you're in the really vast majority of the time, you want to just do the standard blocking and tackling stuff.

8:00You want to go to the basics and the fundamentals. Like what's still relevant in marketing today? Well, storytelling. Okay, that matters a lot. You're drawing on people's emotions. Having a really good offer. Faster, cheaper, better still matters. Okay. And trying to sell the benefits most of the time. The vast majority of the time you're selling the benefits. You're not trying to sell the features. And a lot of these things don't go away. The skill of copywriting is still relevant today. And what really marketing is at the end of the day is just psychology. And so what we briefly touched upon was it's not necessarily trying to new his channel because sometimes Clubhouse, by the way, was hot for a little bit, but it quickly went away.

8:36So you have to maybe just wait for the first couple waves again, and then you maybe dip your toe in. But I will say there's a lot of valuable friendships I got from Clubhouse and valuable recruits that I got from Clubhouse. so you know who saved a ton of money because of clubhouse right you no uh linkedin you mean because they were trying to twitter was trying to buy them i thought it was linkedin that was twitter was trying to buy it was like a four billion dollar offer i thought that was linkedin no no it was twitter okay but linkedin was was quoted as a suitor i remember this yeah so they both saved a ton of money because none of them got the deal and they built it into their features anyway and i don't think anyone i don't well twitter did i don't know if linkedin has linkedin has a similar feature.

9:16Oh, just no one uses it. Correct. The only one that uses it is Christo. And he actually gets a lot of people that come in. Really? Yeah. You should try it. Actually. It's like, it's like a webinar. Oh, we, we do webinars. We go live on LinkedIn. No, no, not the live, but that you can actually do like an audio event room. That's what it is. Oh, okay. Yeah. Yeah. Yeah. Yeah. If you've ever built a website, you know how tough it can be to keep a strong design while ensuring site performance is fast. That's where framer comes in and it totally changes the game. Framer is the design first no code website builder that lets anyone ship a production ready site in minutes.

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11:29Sign up for your$1 per month trial and start selling today at shopify.com slash marketing school. Go to shopify.com slash marketing school, shopify.com slash marketing school. So here's another good saying. So where's the saying from the fortune is in the followup? I don't know. It's probably a salesperson. Okay. So it was John Maxwell that said this, right? But what's been working well for us right now. And I do want to go to our community in a second too. And I do want to talk about how much, there's a couple other things I want to talk about too, but I don't think enough people, by the way, like in today's, today's day and age, you think about how to be successful when it comes to sales, it all comes down to a follow-up at the end of the day, right?

12:16A lot of times people might not show up to a meeting, but I will tell you, I think about 40%, maybe even 50 % of our pilot customers for Carrot, they're all from follow-ups. They're all from like, these people might've disappeared for a while um i just recently actually you you look at the last two weeks or so this the world's been crazy with this tariff stuff right we had a customer um that disappeared on us and all of a sudden they just came back right and it's because we've kind of kept on them every couple months or so and this is for the single green side now and this is like a 30 35 grand a month thing right so it's it's like it's a decent contract that's a good size it's a decent contract and But it's like that deal got done in like two days, right?

12:56So my point is the fortune is in the follow-up and you have to constantly stay top of mind, whether you're selling products or services. And I don't think enough people take that seriously. So if you want to do well, a lot of your revenue is going to come from follow-up. I totally agree with you. My co-founder, Mike, every time we expand into a new region or buy a new company, he typically goes and meets them to go over their sales process. Either him or Kai or we have a few people to go. and in every region that we're in, we typically have leaders who come from holding companies like the WPPs of the world and they've done well in their careers.

13:32Many of them have sold, you know, 10 plus million dollars worth of revenue on an annual basis, some even more, some less and they all say they know how to do sales and they know how to do sales really well and usually people will say, because we're founders, yeah, yeah, yeah, cool, we'll listen but they still do things their way in most cases and in every one of those divisions, he tells people how to do sales. So Mike will go there. He usually meets up groups at a time. So like if he's going to London, he'll meet up with all the European heads at the same time and tell them to bring their salespeople.

14:04Like how many leads do you get? Okay. How often are you calling them? How many dollars are you making per lead? How many emails are you sending per lead? How many of them are you following up on after you get a hold of them and you're waiting for next steps? And they all say, oh, we know how to do this. Most of the leads are junk. It doesn't work this way in this industry. the culture and in this part of europe is different than what you're used to in america and with some people he'll get pushback some people will accept even though they don't want to accept and a smaller percentage will just accept and not grumble and they're happy with it but typically it's the either they'll accept and they grumble or they don't want to accept and there's a lot of pushback we eventually get people to fall in line if they don't fall in line i'm i'm pretty sure you know what happens on what we do yeah we swap them out um and usually within three four months they start closing call it 30 40 percent more sales it could happen faster but you still get pushed back in the first week so then we got a follow up to make sure they followed instructions this is with your people uh-huh and then you got to check sales force and look at the data to see if they did and go get on the people who their case if they didn't do it and ask why and really drill down and tell them how it's not acceptable but typically you know after three four months they start seeing results then they all start falling like oh yeah this is great we wish we would have done this sooner and then they realize oh yeah the the process of sales of following up calling more and dialing more it's not rocket science i don't think you and i are better at this stuff than the average person most people are just lazy and they don't want to do and they think they know best and they just want to email someone or call someone they expect them to sign a contract and then they're done but no one wants to call the lead no joke 15 20 times in the first few weeks before they give up and even then on our end if they don't answer we still follow them up with a month two month three month four and keep dialing until we get a hold of them and then saying no, like screw off or we get a yes.

16:14And more often than not, people eventually like, oh, I'm ready now. I just wasn't ready before. So I ignored you guys. Dude, the only time I've, I've only seen, let me ask you this. How many times have you seen people in your life tell you to screw off when it comes to sales? Maybe like 1 % of my time. I'm guessing. I've only seen it happen once in my life. And so most people, to your point, it's just easier to ignore you. It's easier to tell you it to ignore you versus having to tell you the reason to turn you down. It's just humans don't like doing the uncomfortable things. Correct. So, and by the way, the uncomfortable thing is to keep following up.

16:50Also guys, as leaders, we've talked about having to be a pusher in your company. It's uncomfortable to have to push people too, but if you don't do it, you're going to be the one that gets pushed. So you better push them. And I'm not saying this to be like a slave driver or anything. I'm just saying that there has you have to apply pressure in a company because your job is you're trying to change things so that's what it is please don't forget to rate me subscribe guys and we'll see you tomorrow