The $100M Growth Flywheel: Marketing That Compounds

0:0040 % of people just want to click a button to be able to make a purchase. They do not want to have to interact with the salesperson at all. We've got to build better marketing so that people can make decisions on their own. Your social media isn't just about being social anymore. It's also social proof media where we've seen the market shift to 80 % marketing and 20 % sales. Now, what do I mean by that? Let me give you some statistics to share with you. The$100 million growth flywheel. In this episode, I'm going to explain the marketing, sales, and retention practices that create compounding momentum and how to fix the weak link, slowing your spin of the wheel.

0:39So how does the$100 million growth flywheel work? How do you do the marketing, the sales, the retention so that the flywheel kicks in and your customers keep coming back and the business just keeps growing and growing? It gets faster and faster as you grow. Your customer acquisition doesn't slow down. It speeds up. How does that happen? Let's go through it here today. Making sure that your idea of$100 million business becomes a reality. So let's explain that flywheel, okay? Each turn builds momentum, but the weak links will kill the speed on that thing. So marketing, let's fundamentally understand that.

1:16And I'm going to do a lot on marketing over the time that we are together. Marketing is a subject, I literally have a two-day course I do every year on marketing. And I could probably make it a five-day course. It's amazing how marketing works out there. I own shares of two marketing agencies out there in the world. But the reason I bring this up is because what we're looking at, part one of the flywheel is that marketing momentum, that consistent lead generation out there. Now, how do we get to that consistent lead generation? Well, let's break it down into the three layers of lead generation.

1:51So top layer is that top of the funnel. And that's where you get a high volume of leads that are maybe interested just on the surface of being interested, possibly interested, but they're interested in a subject around that. We're going to get into detail on these, so stick with me. The second layer, the mid funnel, that's where people are interested in the product or service, but they don't know who to buy from, where to buy. They don't know the details of the product or service. they're starting their research and starting to understand. The bottom of that is the bottom of the funnel where people are ready to buy and they're trying to decide from whom should I buy.

2:28Okay, so what should I buy? What is it that I'm buying? Who should I buy from? That's really the three layers of the funnel. Now, I want to give you some statistics. Historically, you could do a lot of work in that top of funnel and then you had nurture sequences and stuff that would work them through type thing. When you're doing that, about 8 % of people are ready to buy, but 92 % of people need nurturing and working through. That's why CRMs became a massive thing, nurture sequences, email sequences, all of that stuff. Even social media became a big nurture aspect of what we were doing. Well, since COVID really, and with the changes in AI and changes in tech, what we've seen is a shift away from marketing being 20 % marketing and 80 % sales, nurture, etc.

3:18to where we've seen the market shift to 80 % marketing and 20 % sales. Now, what do I mean by that? Well, let me give you some statistics to share with you. At the time of recording, we're now over 40 % of people do not want to speak to a salesperson when they are making a transaction. That's right. 40 % of people just want to click a button to be able to make a purchase. They do not want to have to interact with the salesperson at all. Okay. Now, what does that mean to us? We've got to build better marketing so that people can make decisions on their own. A few years back, Google did a study called ZMOT, Zero Moment of Truth, which showed a 7-11-4.

3:55People wanted to do seven hours of research in 11 different interactions. So they might do some today, some tomorrow. They might email you. They might have a phone call with someone. They might have a WhatsApp chat. They might watch YouTube videos. etc. But they want to do seven hours of research in 11 different interactions in four different places. Now by places, it could mean a Zoom call, it could mean your YouTube channel, it could mean an actual meeting with you, it could mean coming to your store, it could mean your website, but four different places, 11 interactions, seven hours. Now I ask most people, well do you have seven hours of material for someone to study about your business?

4:34Whether it's reading e-books, reading articles blog posts watching videos is there seven hours of study someone can do to make a decision around it it's like if I go back to when I was a kid buying a car you went to all the dealerships and made your choice today you go online you go to all of the different things you use GPT probably or a prompt of AI somehow and you and you ask it to narrow down the choices and then you get to those choices you go on the website build the car and you almost hit the order button right there and then. I'm pretty sure if they had credit card facilities, you would be able to order the car right there and then.

5:08I remember that's how I bought my Tesla, my Lamborghini. I built it online and sent it in the order and they called me and said, yeah, hey, you want to add this, I think, and you probably don't need that here in Las Vegas. Brilliant. If you start thinking about that and then we go to two more statistics. One is most people want to be between 60 and 80 % of the way through the sales process before talking to a salesperson. In other words, they want to have done their own research backing up a Google ZMOT study. And then finally, we see a study coming out of, I think it was Cambridge University that says one hour of face-to-face is worth five hours of Zoom time.

5:45And I'm like, hang on, why is that the case? And then you start thinking about it, what it's doing. Trust with AI seems to be going down because is it an AI? And that's why our AI policy says that if you've got an AI machine making a phone call, you need to tell people, hey, I'm AI Brad. I'm here to help. And I know that you may not like AIs, but I can get these three things done now so that we can move on and move faster type thing. But understanding that marketing has to do the heavy lifting today. Almost 70, 80 % of the work should be marketing. And that final tipping over is where sales will kick in.

6:21And we'll go into a lot more detail on that or come join my two-day digital marketing program. If you scale into 10 million, I do five two-day courses a year. They're all run virtually so you don't have to travel. Those five courses help you become a$10 million business. If you're scaling to 100 million, we add another five-day full course to it, which is live in here in Vegas. So marketing, consistency out there. You've got to have thought leadership. You've got to be brand building. Brand is sort of that bottom of funnel. When someone is trying to decide who to buy from, they go and look at branding.

6:55That's why your social media isn't just about being social anymore. It's also social proof media. If I want to buy from you, I'm going to look you up on LinkedIn or Face or Insta or TikTok or somewhere and see if you are who you say you are. I'm going to do that research about your company or about you personally. Social media is also social marketing today. You know, yes, the media side of your company has to produce emotional, educational, and entertaining content, but you've also got to do some marketing in that content. At least one, well, about one in five should be marketing. Tell the world what you actually sell.

7:32Don't just entertain me, share with me what it is you sell as well so that I know what I'm buying when I come to you. It's like, whenever I do these podcasts, yes, you're learning a lot from me, but I should also be telling you a little bit about, hey, I do a course once a year where you come for five days and we plan your billion dollar business. And yes, it's a$25 ,000 investment. Do you know what I mean? Like I'm putting it in there, but I'm giving you huge value whilst giving it in there, if that makes sense. Social media is also, if you think about it on the ultimate end of the scale, a great nurturing system.

8:07If someone's found you and you keep talking to them and you keep communicating with them, eventually they go, you know what? I am ready for a business coach. I should call Brad or call Action Coach or do that sort of thing. So that's what you've got to be looking at. top of funnel, mid funnel, that. Now here's what you've got to be looking at from that perspective. And again, you can use AI to help you do this. My good buddy, Marcus Sheridan, wrote the book, Endless Customers, and They Ask You Answer. He's got a seven-page, seven-area framework that tells you these are the articles you should be writing.

8:37I want to see you writing an article a day. Really, I do. And now if you want to do that using AI, jump on Pressmasters AI. There'll be a link below here. You can use my link to Pressmasters. It'll save you a few percentage. and yeah, it's probably an affiliate link. I'll probably get some dollars out of it. But I love Press Masters. I'm an advocate for them. I use them every single day and they interview me. Like the actual AI interviews me. Someone talks to me, interviews me and takes my words and turns them into an article every day. And hey, Presto, I'm writing because even though I've written 18 books, my English teacher will tell you I'm not the best writer.

9:11And anyone on my team will tell you I'm awful at spelling. Not good at spelling. In fact, I'm very creative at spelling. Let's put it that way. So that's what we want to be doing out there. Thought leadership, branding, getting ourselves out there in front of people. The more you post, the better it is type thing. There's no two ways about that. When I interviewed Gary, and you see, if you haven't watched my podcast with Gary V, go back and watch. In fact, there's two of them on there. Gary is very clear on how much you should be posting and how much you should be putting out there into the marketplace.

9:41Part two is sales. Now, sales, again, is changing. You still do have to have the ability to nurture people for a salesperson, but the majority of time sales should be handling that last 40 to 20 % sort of thing. They've already done the research. They've narrowed it down. They've contacted you. Now, you might have had them raise their hand. Yes, I wrote a book, Raise Your Hand Marketing. What do I mean by raise their hand? They might have downloaded an e-book or they might have filled in a quiz or they might have jumped on a waiting list or they might have filled out a price analysis tool or whatever the thing is that has given them your contact details, you'll put them into a nurture sequence.

10:21and whether we use both HubSpot and Go High Level for our nurture sequences, whatever methodology you're using, then you've got to nurture them because the first raised hand when they download the thing or do the quiz is saying, hey, I'm interested. The second raised hand is saying, hey, I'm ready. And what's the second raised hand? Where they book in a phone call, where they fill in the actual application, where they do the thing that actually says, I'm ready to buy right now. And sometimes that second thing is actually buying right now off of your website sort of thing. And what's Amazon train people to do?

10:57Two-click purchasing sort of thing. Although lately they've started throwing in grocery things saying, do you want to buy this as well? And making it three clicks when I have to say no. And it's like, dear Amazon, get rid of the third click, please. Hurry it up. So sales becomes about predictable systems. Ask the questions, do the things, do the analysis. And you've got to build a sales system. I like flow charting sales systems. And from the flow chart, we work out the scripts. We work out the emails needed. We work out the questionnaires needed. All of those flow charts. If you don't know what that is, it takes 12 weeks for us.

11:30One of my coaches can coach you through the 12-week installation of our sales system or can train all of your people and install the sales system at the same time in your company. It takes 12 weeks to do that. And then finally, we get to retention. I love a great little book called Retention Point on this subject. but I love the theory of 100 % client retention. I love the idea of never lose a customer type thing. What do you got to do to onboard them properly? And this is where sometimes it's don't take on too many customers at the same time. One of the things I love asking people when it comes to marketing is how many customers is the right number of customers for you?

12:07Like if you had an ideal number of new customers per day or per week or per month, depending upon the timing in your business. Now, I'm not saying, oh, Brad, we could get an unlimited number. That's the stupidest answer I can get because there's no such thing as unlimited. I had a guy the other day tell me that in a workshop. And I said, dude, you can't have unlimited. He said, but we're an online business. I said, okay, if I hit a million people to your site tomorrow, is it going to crash? He goes, yes. I said, great. You can't have unlimited, right? And I love the word only in business too. And if you read my good buddy Daniel Priestley's book, Oversubscribed, he'll teach you more about only and that sort of thing.

12:42But understanding how it is you can grow a business. And by the way, if you haven't watched my podcast with Daniel, jump back on that episode, make sure you do. When you understand the word only, like if you work it out that you can handle two new customers a week and you can do that every week of the year consistently, you onboard them properly, onboard them professionally so that they stay and they're retained customers. You've mapped out their customer experience type thing. when you've done all of that, fantastic. And then you can use the thing. Look, we only accept two new customers per week.

13:18We get 10 applications a week and we choose two people to work with per week. It's like Rolex, Ferrari. You can't just walk in and buy one anymore. You gotta get on the list. You gotta get, you know what I mean? It's gotta be that sort of feeling of building a phenomenal business with that. But that mapping out of the customer experience, especially the first 100 days of what is that customer experience. I find companies do one of two things. Either they overwhelm you in the beginning, which if you're thirsty, a cup of water's good, drowning you is not good type thing. They either overwhelm or they plug you in.

13:53If I use like a Netflix example, in Netflix, you don't go and start at season three, episode five. You go back to season one, episode one. You learn the characters, you learn the plot, you learn the whole thing. In your business, when someone connects with you, They've got to go back to season one, episode one. They've got to learn what do you sell? How do you sell it? What are the things? All that sort of stuff. Remember, your marketing is as much training a customer. Your customer service and experience is as much training a customer how to do business with you as it is convincing them to do business with you.

14:27Showing them how to be an A-grade customer. You don't want D-grade customers, people who are annoying to you. You want A-grade great customers. You've got to train them to be A-grade customers. So take a look at your flywheel. If you need help, jump on actioncoach.com. Our first two weeks coaching are free for you. You just got to hit the button, fill in the details, and one of our coaches will get in touch with you and help you become a$100 million entrepreneur. Thanks for joining me on the$100 million podcast. If you've got value from today's episode, make sure you've subscribed and share this with all of your friends.

14:59Never miss a strategy that could change your business and your life. And remember, the fastest way to scale is to learn from those who've done it. That's what this show is all about. See you on the next episode.