17 Years of Marketing Advice in 46 Mins
Summary
TLDRThis video offers invaluable insights from a successful marketer who has generated over $7.8 billion in sales across 1,067 niches worldwide. The speaker emphasizes the importance of balancing product quality and marketing, understanding market demand, mastering storytelling, and leveraging direct response advertising. Key points include focusing on customer retention, taking bold risks, playing the long game, and the rising importance of creativity in the age of AI. Practical advice is provided on developing compelling offers, enhancing customer experience, and building a strong brand through both organic and paid strategies.
Takeaways
- 🚀 **Emphasize Both Product and Marketing**: Success lies in the synergy of a great product and exceptional marketing, rather than focusing on one over the other.
- 🌐 **Global Reach**: The speaker has a wide reach, with clients in 136 countries, highlighting the importance of a global marketing strategy.
- 📈 **Sales Over $7.8 Billion**: The speaker's experience in generating significant sales underscores the effectiveness of their marketing strategies.
- 💡 **Market Selection**: Choosing the right market is pivotal; it's about finding a market starving for your product, not just any market.
- 🛠️ **Product Versus Marketing**: The speaker argues against the idea that either a product or marketing alone can guarantee success.
- 📊 **Direct Response and Brand Advertising**: Both direct response and brand advertising have their place and can coexist in a marketing strategy.
- 💼 **From Chef to Business Builder**: The transition from being personally involved in every task to building a team and focusing on revenue-generating activities is crucial for business growth.
- 🎯 **Targeted Marketing**: Understanding and targeting the right market segment is essential for effective marketing and sales.
- 📝 **Storytelling in Marketing**: Storytelling is a powerful tool in marketing that can help build brands and connect with customers on a deeper level.
- 🔍 **Market Research**: The speaker stresses the importance of market research to understand customer needs and desires, which is fundamental to successful marketing.
- 💰 **Pricing Strategy**: Pricing should be based on the value delivered to the customer, not just the cost to produce the product or service.
Q & A
What is the speaker's area of expertise and what has he achieved in his career?
-The speaker is an expert in marketing and has achieved significant results, generating clients that have contributed to over 7.8 billion dollars in sales across 1,067 different niches and 136 countries.
How many team members does the speaker have in his agency, and what is his role on Shark Tank?
-The speaker has 100 team members in his agency and he is an investor on the show Shark Tank.
What is the speaker's main purpose in sharing the video content?
-The speaker aims to share all the lessons he has learned throughout his journey, including the mistakes he has made, to help viewers shortcut their learning curve in becoming a marketer.
Why does the speaker believe that marketing is a crucial skill to acquire?
-The speaker believes marketing is crucial because it is applicable in any career or life path, as it involves promoting and selling products, services, or oneself, and can fundamentally change one's life trajectory.
What is the speaker's stance on the debate between product and marketing?
-The speaker believes that both product and marketing are essential and that neither can be neglected. Success comes from having an exceptional product that is marketed well.
What is the importance of market selection in business according to the speaker?
-Market selection is pivotal because even with the best product and marketing strategy, if the business is in the wrong market, all efforts will be futile.
What is the difference between direct response and brand advertising as explained by the speaker?
-Direct response advertising elicits an immediate action from the audience, such as making a purchase or signing up for a lead. Brand advertising focuses on reinforcing a message or lifestyle and building recognition over time.
Why is storytelling so important in marketing according to the speaker?
-Storytelling is important because it is a highly leveraged skill that can build businesses, brands, and attract customers more effectively than any other form of communication.
What is the speaker's advice on the balance between organic and paid marketing strategies?
-The speaker advises not to rely solely on organic growth or paid advertising but to use both strategies in tandem, using organic content to feed and test the paid advertising engine.
How does the speaker define the role of pricing in business?
-The speaker defines pricing as a balance where a transaction occurs when the perceived value of a product or service exceeds its price. The goal is to create enough demand to allow for pricing at the highest premium possible.
What is the speaker's perspective on the future of marketing with the advent of AI?
-The speaker believes that while AI will automate many tasks, the true differentiator will be human creativity and the ability to come up with big ideas that can guide AI, rather than being replaced by it.
Outlines
🌟 The Power of Marketing
The speaker introduces himself as a successful marketer with extensive experience, having generated billions in sales and worked with clients worldwide. He emphasizes the importance of marketing in business success and personal career growth, highlighting its role in attracting and retaining clients. The speaker promises to share his knowledge and mistakes to help others become successful marketers.
🔍 Market Selection and Product Viability
The speaker discusses the critical importance of market selection and having a product that the market is starving for. He shares his early business experience selling water filters in a market that didn't need them, underscoring the need for compelling offers that solve pressing problems. He advises launching with a minimal viable product to test market appetite before developing the business further.
📢 Direct Response vs. Brand Marketing
Exploring the differences between direct response marketing and brand marketing, the speaker notes that many successful brands started with direct response strategies. He argues that new businesses should initially focus on direct response to generate immediate sales and learn about their market before investing in brand-building activities. Direct response helps in understanding customer needs, which is essential for long-term brand success.
📈 Organic vs. Paid Marketing
The speaker explains the dynamics between organic and paid marketing, noting that both require investment, either in money or time. He advises using organic strategies to test messaging and hooks before amplifying successful content with paid ads. A balanced approach, integrating both organic and paid tactics, is essential for sustained business growth.
📖 The Power of Storytelling
Emphasizing storytelling as a critical skill, the speaker details how clear writing and compelling narratives can attract customers and team members. He suggests focusing on hooks and framing to capture attention and advises using the Hemingway app for clarity. The ability to tell stories that resonate with the market is crucial for effective communication and marketing.
🎯 Capturing Attention
Attention is a valuable currency in today's market. The speaker stresses the importance of creating engaging content that competes with numerous distractions. Effective marketing starts with capturing attention through compelling and entertaining content, which then increases overall engagement and consumption of the marketing message.
🔥 Building Desire vs. Selling
The speaker differentiates between building desire and selling. Marketing should create such a strong desire for the product that the selling process becomes redundant. He uses Apple as an example, where products create enough demand that customers seek them out without aggressive sales tactics. The key is to articulate pain points and present a unique, desirable solution.
💰 Pricing and Value
Discussing pricing strategies, the speaker explains that pricing should reflect the value the product provides rather than just covering costs. Understanding the value to the customer and adjusting pricing accordingly can maximize profits and allow for reinvestment in product and service improvements. The goal is to create a demand that exceeds supply at the highest possible price.
👨🍳 The Chef vs. The Business Builder
The speaker addresses the transition from being a skilled practitioner to a business builder. Many entrepreneurs start businesses based on their passion but struggle with the broader demands of business management. He advises focusing on revenue-generating activities, hiring and training staff, and moving from hands-on roles to strategic oversight to scale the business effectively.
🏌️♂️ Taking Big Swings
Taking big, bold actions can lead to disproportionate success. The speaker encourages entrepreneurs to take significant risks once they have the financial stability to do so. These big swings, when unique and innovative, can set a business apart in the marketplace and lead to substantial growth and success.
📺 Master One Marketing Channel
The speaker emphasizes mastering one marketing channel, starting with demand capture for immediate sales. Once proficient, businesses can move to demand generation to create a larger market for their product. This approach requires skill in attracting and converting uninterested prospects, which can lead to explosive business growth.
📊 The Larger Market Formula
Introducing the larger market formula, the speaker explains that only a small percentage of any market is ready to buy at any time. Effective marketing involves addressing not only this ready-to-buy segment but also those who are gathering information or unaware of their problem. This broader approach can significantly expand a business's reach and potential customer base.
🕒 Quick Money vs. Big Slow Money
The speaker contrasts the pursuit of quick profits with long-term business strategies. While immediate revenue is necessary for survival, long-term planning and investments can lead to greater, more sustainable success. Entrepreneurs are encouraged to balance short-term gains with long-term goals for enduring business growth.
📚 Focus on Long-Term Skills
Focusing on skills with a long half-life, such as leadership and communication, provides lasting value in business. The speaker advises continually making oneself redundant by delegating tasks to focus on these high-leverage skills, which will compound over time and drive sustained business success.
👥 Increasing Customer Lifetime Value
Marketers should prioritize increasing the average lifetime value of customers over reducing acquisition costs. Providing exceptional products and services that encourage repeat business and customer loyalty can lead to higher profitability and market dominance, allowing the business to spend more on acquiring new customers.
🏆 Master the Basics
The most successful business people consistently master the fundamentals. The speaker argues that while advanced tactics may seem appealing, focusing on delivering exceptional products and basic marketing principles will yield better results. Sticking to the basics and executing them well is a proven path to success.
🤔 Addressing Market Skepticism
Market skepticism is at an all-time high due to low barriers to entry and prevalent incompetence. To counteract this, businesses must provide genuine value and help prospects by actually helping them. Demonstrating the unique benefits of their product and differentiating from competitors is essential to overcome skepticism and drive conversions.
🃏 The Godfather Offer
A compelling offer that clearly defines benefits and minimizes risk can significantly boost sales. The speaker advises creating offers so strong that they worry the founder, which ensures they are genuinely attractive to customers. This approach reduces acquisition costs and increases conversion rates.
🎩 Showmanship and Exceptional Service
Showmanship in marketing and exceptional customer service can create memorable experiences that customers won't forget. The speaker uses Ritz-Carlton's service model as an example of going above and beyond to delight customers, which leads to positive word-of-mouth and increased customer loyalty.
🤖 AI and the Future of Marketing
With the rise of AI, the manual aspects of marketing will become automated. However, creativity and big ideas will be the differentiators in the future. The speaker emphasizes the importance of imagination and solitude to foster creativity, which will guide the effective use of AI in marketing campaigns.
Mindmap
Keywords
💡Marketing
💡Sales
Highlights
The presenter is an experienced marketer with a global clientele, having generated 7.8 billion dollars in sales across 1,067 niches and 136 countries.
Marketing is identified as a crucial skill for personal and business success, involving not just promotion but also client retention and delivery on promises.
A balanced approach to product and marketing is emphasized, cautioning against over-focusing on one aspect to the detriment of the other.
The importance of market selection is underscored, with advice to sell in markets that are already hungry for the product, not those that need convincing.
The concept of direct response marketing is introduced as a means to elicit immediate action from customers, contrasted with brand advertising.
A step-by-step approach to building a business is recommended, starting with direct response to understand the market before investing in brand building.
The presenter advocates for the use of storytelling in marketing, highlighting its effectiveness in engaging customers and building brands.
Clear writing and communication are presented as foundational skills for effective storytelling and marketing.
The necessity of capturing attention in a competitive market is discussed, with strategies for making marketing content entertaining and valuable.
Building desire in the market is key, with the goal of making sales feel redundant by creating products that people actively seek out.
Pricing strategy is discussed, with advice to focus on the value delivered to the customer rather than the cost of production.
The transition from being a 'chef' to a 'business builder' is explored, emphasizing the need to move beyond hands-on work to scale a business.
The importance of taking calculated risks in business is highlighted, with encouragement to 'swing big' to achieve disproportionate results.
Mastering one marketing channel before attempting to diversify is recommended, with a focus on demand capture for initial growth.
The 'larger market formula' is introduced, explaining the different segments of a market and how to effectively market to each.
A long-term perspective on business growth is encouraged, with a focus on 'big slow money' over quick profits.
The presenter advises focusing on skills with a long 'half-life' in business, such as leadership and communication, over quickly changing technical skills.
A strategy for customer retention is outlined, suggesting that increasing customer lifetime value should be prioritized over lowering acquisition costs.
The importance of doing the basics well in business is stressed, as advanced tactics are less effective without a strong foundation.
Addressing skepticism in the market is discussed, with a focus on providing value and proving effectiveness to build trust.
The concept of a 'Godfather offer' is introduced, emphasizing the power of a compelling offer over a convincing argument in sales.
Showmanship in business is highlighted as a way to create memorable experiences for customers, setting a brand apart from competitors.
The impact of AI on marketing is considered, with a focus on the importance of creativity and ideas in a world where many tasks may become automated.
Transcripts
so there's one thing that I'm good at it
is marketing I have got thousands of
clients I've generated those clients
over 7.8 billion dollar in sales I've
gotten these results in over 1,067
different niches for clients that are in
136 different countries around the world
I've got 100 team members in my agency
and I'm also an investor on Shark Tank
today what I'm going to be doing is just
giving you everything that I have
learned along my journey all the
mistakes that I've paid for in full so I
can shortcut wherever you are on your
learning curve on becoming a marketer
there is no way that you cannot watch
this video and if you take notes and
actually implement the stuff that I'm
going to tell you for you not to make
way more money than what you're making
right now so what is marketing Marketing
in general I believe is probably the
most important and valuable skill that
you can ever acquire because regardless
of the career that you choose or the
different path that you walk down in
your life you're going to be faced in
some way in either marketing a business
or marketing yourself and it is
fundamentally a skill that can change
the trajectory of your life like no
other marketing is the activity of
promoting and selling products and
services but more importantly than that
it's also in not only attracting and
getting clients but retaining them and
then being able to deliver on your
promises because all successful
businesses are focused on not being in
the order business but being in the
reorder business do you want to be in a
situation where your clients are worth
more to you than any other person in
your industry and your Market therefore
you can spend the most to not only
acquire those clients but to also
service those clients and to have team
members come in and help you service
them and being able to have the funds to
actually pay for them this brings us to
step number one product versus marketing
there are so many people in the business
world that sit in one camp that it's
like it's just all about product if you
have a great product then you're going
to be able to go out there and crush
anybody cuz the word's going to spread
and everyone's going to come to you and
then they're going to want to buy your
thing and then you've got another school
of thought that it's just like all you
need is marketing like you just have
like marketing and you can sell anything
I believe that both of these people are
wrong it's not about product or it's not
about marketing but it really is about
both not all businesses are sexy just
focusing only on product and thinking
that that is the only that it is that
you need is a lie and I've seen so many
businesses die because of this they set
up their business they develop a logo
and then they just spend like a year or
two years of their life perfecting their
product or service they launch their
business and they never get any
customers even though their product is
great they can never ever scale it
because they're not marketing it and
then it just becomes this job but it's
worse than a job for them because
they're not getting paid holiday instead
of working 40 hours a week they're
working 880 hours a week and their life
is just left like the scraps of what's
left from their business and then you
have the other angle where the marketer
that goes out there and he has no
emphasis on product and customer
experience he's got a shitty product
that is pouring gasoline on and it
spreads and then negative word of mouth
spreads and then it's gone and then
they're on to the next business they
just keep on launching new offers and
new businesses and new markets because
they don't have any emphas on product
and realistically if you look at the
biggest businesses in the world those
businesses have an exceptional product
that they Market exceptionally well you
really need to get out of the mindset of
it's just product or it's just marketing
which brings us to step number two to
sell something that the market is
starving for when I got started in my
entrepreneurial career started by
selling water filters and I had to learn
a very hard lesson everyone in Australia
at the time had the perception that it
was completely fine to drink the tap
water so I was entering into a market
that people were not starving for the
product and instead of having a
compelling offer that solves a burning
problem I was trying to have a
convincing argument and everything was
like just pushing a ball up a hill and
swimming against the Raging current that
was the river of the desires of my
Marketplace when you're launching a
business you want to launch with a
minimal viable product or a minimal
viable offer and that is just enough for
it to be good enough for you to sell it
and you want to do that to test the
appetite that there is in the
marketplace and then only once you have
proven that there is an appetite for
what it is that you're selling do you
then want to go and develop the back end
of the business most people if you speak
to them they all have a business idea
right like everyone has a business idea
and then they're like oh I can't do that
because I saw somebody else had a
business in that Niche or I've seen that
idea before and they spend most of their
life looking for a completely unique
idea for the business that is they want
to start that is a horrible horrible
idea you want to look for markets that
there are lots of people in that Niche
and it is competitive because that has
proven that there is a need and so the
most pivotal thing above everything when
it comes to marketing is Market
selection you can have the sexiest logo
the best team the most dialed in funnel
if you are in the wrong Market Nothing
Else Matters and when it comes to
product the overarching advice that I
can give anybody is to build a business
that you would want to be a customer of
third point is direct response versus
brand direct response if you don't know
is the for format of advertising where
you're putting out messages in front of
a Marketplace that elicits a direct
response call this number go to our
website click this button become a lead
or buy something where you've got the
brand World advertising to tell people
that you exist to reinforce a message or
a lifestyle that you are trying to
depict if you ask most people like what
is the best brand in the world apple is
a brand that comes up in that
conversation a lot and what you'll find
is that a lot of these Brands they all
got their roots in direct response like
apple they were cold calling computer
dealers to get their computers stocked
into those networks and a lot of the
things that they were doing in the
beginning like were direct selling it
was direct response marketing throughout
their evolution they earned the right to
become a brand this is an argument that
I see a lot online people are talking
about hey like it's all about hardcore
direct response or they sit in the brand
camp and that is the only thing they
think is important the reality of it is
there is big businesses that have been
created in both of those categories
you've got businesses like guthy ranker
they do $2 billion a year in sales they
are behind Tony Robbins blew him up
using infomercials they've got like
proactive they've got brands with JLo
and they've been able to build a massive
monstr business using direct response
you've got lvmh group that have Louis
Vuitton they've got Sephora they've got
a whole range of Brands under their
umbrella yet these guys they spend $16
billion a year on Advertising I see so
many people they think it's all about
brand and they'll sit down and they'll
come up with these beautiful cut up
color palettes and the typography and
the sand serif and the logo and the
brand Mark and the site and all of this
kind of stuff they do not have a brand
most of these people they have a logo in
order to have a brand you need to have
customers the best place to start if
you're getting out and you do not have
huge amounts of venture capital is to
start in direct response whether it's at
local markets it's cold calling people
it's local dming people it's you being
the influencer and creating the organic
Tik Tok content in the beginning only
once you do that and you intimately
understand your customer you'll
understand what's important to your
Market will you understand how to
actually build a brand you're using
direct response you're making money
you're spending that money to make the
product or service even better you're
building the brand you're attracting the
right people that can help you then go
and build that brand even further and
that just accelerates and accelerates
and accelerates and then you can focus
on more brand building exercises of like
what is important to us as a company
what do we stand for what is the problem
that we solve for the market who is the
customer and what is important to them
and you can start to spend money that
emphasizes those things within your
direct response marketing mix and you
can keep that going like a flywheel and
so that is what I have seen from all the
brands that I have worked with which is
all the way from small to mom and pop
businesses all the way up to
multi-billion Dollar Behemoth Point
number four is organic versus paid
another two very defined groups of
thought some people think hey you always
have to be able to spend money to
acquire a customer and then you've got
one school of thought that it's like
only focus on putting content out and
getting customers organically and have
that word of mouth spread but both of
those are resources that you're paying
with one of them is you're using money
and the other one that you're using time
there is no such thing as free
advertising organic is meant to be in a
way where it sounds like it's free but
it's not it cost money for me to have
these cameras and videographers and
lighting and mic and the time and energy
that is required in order to produce
that content as well so they all come
with a cost when I started you know I
started in direct selling I was cold
calling businesses I got a few clients I
got enough to start running some direct
response style ads and only after I was
doing more than $10 million a year in
Revenue did I start doing all of this
stuff and producing YouTube content and
doing all of those things I do believe
that organic shows huge huge potential
that's why I'm spending the time and
energy and doing what it is that I need
to do but I would not rely purely on
organic to build my business one of the
things that has become more apparent
with Instagram reals and Tik Tok is that
you want to use organic to feed the paid
engine so it's a great way now that you
can get Distribution on these platforms
without having huge follower bases for
you to test hooks and for you to test
messaging that works in your Marketplace
and then finding out what works
organically and then turning that into
an ad and then amplifying it the
customer journey is not like a funnel
anymore it's changed the people that are
going to maybe discover you from an ad
they're going to do a Google sniff test
go to your YouTube watch two videos then
get retargeted on Facebook download a
high value content offer or some type of
opin or register for a webinar watch
that go on your email list get five
emails book in a call and buy one feeds
the other you want to have a combination
of both if you start with Organic and
there's no one looking at your stuff and
that frustrates you and you stay there
that's ultimately going to kill your
business so it's not either or it's both
Point number five is storytelling
storytelling above all else when it
comes to building businesses Brands and
going out there and getting lots of
customers is Bar None the most highly
leveraged skill that you can have and a
lot of people talk about storytelling
but then they don't really tell you like
what are the steps that it is that you
need to take in order to become a better
Storyteller and that's what I'm going to
do for you and the best place to start
is being a good writer and being able to
clearly
articulate what it is that you want to
say because you've got a side of your
business that's going to be the employer
brand and and wanting to attract team
members into your business where you're
going to need to be able to very clearly
articulate why it would be great to come
and join your team and then you've got
the storytelling component of how do you
actually tell compelling stories that
get people to want to buy your things so
the first thing to understand is that a
good writer is a good thinker they have
clear thoughts because when you sit down
to write something by definition you
have to get clear of what it is that you
want to write whether it's a job ad or
it's a Facebook ad or it's landing page
copy you have to actually crystallize
your thoughts and then write them down
you then want to think about the clarity
of your writing and a great app that I
use that helps with this is the
Hemingway app now I have studied the New
York Times bestseller list the best
YouTubers the people that have been
elected into the most powerful officers
in the world and the commonality that
you will see in all of their forms of
Storytelling is that they write and
speak at a sixth grade reading level or
below and the reason for that is that
you will not alienate people by having
your message too clear to consume but
you will certainly alienate people by
making it so verbose and over the-top
and hard to comprehend that people will
stop paying attention to your message
the next part of Storytelling is really
in your communication style so
communication is something that you need
to create time in your week or in your
schedule to become better at because
you're going to be communicating until
the day that you die and you're not only
going to be getting the leverage in that
within your business you'll be getting
that in all your relationships like
anything it's a skill that can be
acquired and you need to practice it the
next thing when it comes to storytelling
is Hooks and Framing and a hook by
definition is something that does just
that it hooks people it is a statement
that you can grab the attention of a
group of people and make them pay
attention to what it is that you've got
to say one good hook is worth more than
a thousand of the most masterful crafted
copy that exists and you want to spend a
disproportionate amount of your time on
the hooks because if you can't hook
somebody it doesn't matter how good the
rest of that piece of communication is
with this you want to be a student of
markets you want to go onto Tik Tok you
want to go onto YouTube you want to be
going on Instagram reals and having a
look at the videos that get the most
views and have a look at what it is that
they're doing in those Hulks and the
last point on storytelling is what you
say is infinitely more important than
how you say it most people spend the
majority of their time finessing words
on how they are saying a particular
thing when instead what you want to do
is you want to focus on saying the right
things in the first place and the way
that you do that is you look at customer
service complaints you look at reviews
you be in Facebook groups you look at
YouTube comments and you really
understand what that beating pulse is of
your Marketplace so that when you write
words they strike like lightning cuz
they specifically talk to the pain
points of your Marketplace once you know
that you're saying the right thing then
think about saying it in the the best
way possible Point number six the very
very first sale that you will make is
the sale for somebody's attention and
we're living in a day and age where
attention is a new form of currency we
all hear that all the time you're no
longer competing with Bob down the
street that's in a similar business to
you you're competing with all the other
Alternatives that possibly exist for
your prospect to spend their time and
attention on Netflix Instagram YouTube
everything is on the phone right and
this thing is the arena that you must
compete in to get people's attention and
if your stuff is boring and D then you
are going to be dead on arrival and if
you look at what the biggest brands in
the world are doing and how they stand
out I used to like look at them and
think like like how is this going to
sell anything like this this is this is
the most outrageous ad it has nothing to
do with even selling the product in the
first place and the thing that I didn't
understand at the time is the game that
these guys were playing is that they
were winning the first game which is to
get attention and to get people to
consume the message in the first place
is this piece of marketing communication
this ad this video this promo this
subject line is it enough that it is
worthy of my customers attention and it
is greater for them to consume than all
the other Alternatives that exist that
are probably infinitely more
entertaining than what it is that you've
got to sell and if you can't
fundamentally answer that with a big
resounding yes then you have already
pushing the boulder up the hill and the
thing that you can do to get the most
amount of throughput in your whole
funnel with everything that you do is
just to increase consumption and the
best way to increase consumption is to
by definition have something that that
is entertaining to have strong Haws and
very good packaging to that content
Point number seven is building desire
versus selling marketing's job is to
make sales redundant you should be
building so much desire in your
Marketplace that people are already sold
before you even ask them to buy you
build enough desire that people are
coming to you and they're lining up
asking for help for what it is that
you're selling think about an Apple shop
right you don't have to ever go into an
Apple shop and the person there's like
aggressively selling you a MacBook Pro
like the people that are in an apple
shop they're just order takers they have
earned that right they have built enough
Desire by creating incredible products
that solve pressing problems in the most
elegant way that exists they can charge
a premium for doing so and there's so
much desire around that that people
people are literally by definition lined
up out the front of their stores to buy
their products at a premium and that's a
good Telltale sign that they are
absolute Masters at not only creating an
exceptional product but they are also
exceptional marketers that is literally
your job as a marketer to be
articulating the pain points showing
them how your product solves them
agitating those pain points and then
Pres presenting your offer as something
that is truly unique and exciting and
unlike anything that they've ever seen
or heard about before so whenever you're
in those situations and people aren't
willingly handing over money just
understand that the reason that they're
not doing it is because you simply
aren't good enough yet and you haven't
built enough desire in your Marketplace
and you're either not marketing enough
or the marketing isn't effective Point
number eight pricing price is what you
pay and value is what you get to quote
Warren Buffett and a transaction takes
place where value exceeds price and in
business you really want to get into a
situation where you have way more demand
than supply of what it is that you've
got and then you play with the price
elasticity equilibrium I.E you figure
out where on the demand curve do you
need to price your product so that you
can fulfill and you can able to actually
meet the demand for what it is that
you've got and you have enough Supply to
meet that demand at the highest premium
possible most people when it comes to
pricing they look at how much it costs
to deliver that product or service and
then they mark up a multiple of what
they think is reasonable this is the
worst thing that you can do because a
lot of the time when people do that they
never factor in all the other overheads
that exist in order to acquire a
customer the ads the sales team the
product Innovation team the packaging
inflation all of those things instead
what you want to do is you want to
prescribe a value to the problem that
your product solves and that is the
thing that you want to think about what
it would be worth to my customer in
order to help them solve that problem
the more money that you make the more
that you can invest in your product and
service the more people that you can
hire the more Innovation that you can
spend on to solve that problem in a
better way for more and more people
which brings us to the next point the
chef versus the business Builder most
people they start their business because
they are the chef that loves cooking
they think hey I really love cooking why
don't I start a catering business they
think that their love for what it is is
enough for them to build a business and
and there's an underbelly to this they
are the person jiating the carrots and
scrubbing the potatoes they're all
plating up the food they're doing all
the accounts they're doing the tax
returns they're doing all the errands
that need to be done within their
business and they end up overworked and
underpaid for what it is that they're
doing and the amount of stress that
they're burdening from themselves they
get basically put at a fork in a road
which is do I continue doing what I'm
doing right now which is very very
stressful or do I hire people to help me
come in and grow this business and the
problem is what got you here is not
going to get you there and the skills
that you do of being on the tools and
doing all of those things you realize as
you start to bring people into your
business like hey like I can't do this
anymore if I want the business to grow
and I need to start focusing on things
that actually move the money needle and
bring enough cash into the business in
order for me to hire people to train
people to retain people to lead people
and your skill set goes from being the
practitioner to actually being the
business Builder that is responsible for
growing this business and they are two
entirely different skill sets there is
like this place that I call Death Valley
and it's where you as the business owner
you're doing absolutely everything that
is required in your business yourself
you're working very very long hours
you're very very stressed yeah you're
making good money but you don't have any
time to even spend that money or spend
with your family or do any of those
things because you're so busy doing all
of these stuff and then you're like
this is not the reason I got into
business I got into business because
there was going to be like lots of
freedom and I'd be making more money and
I might have location Independence but
then you realize that that's not the
case and then you're like oh what do I
do okay I need to hire some people all
right in order to hire people I need to
have enough money to hire those people
and then if I go and hire them and then
I'm going to be spending all my time
training those people then who's going
to be delivering for my clients like how
am I going to do that and it's the
Chicken and the Egg it's a a cycle that
I say all businesses have to go through
and it is very character forming and you
learn a lot about yourself and it
becomes very very stressful and you need
to understand that is typically a season
or a chapter and it's not going to be
forever and you need to quickly get in
and get out of that situation and the
way that you do that is focusing on on
the activities in your business that are
Revenue producing what are the things
that are going to ring the cash register
bring in customers so that you have
enough funds to go hire people build a
team and then as you build the team they
can become more competent help you come
in and run the business and then you can
focus more on the revenue producing
activities the better that you become as
a marketer the more highly leveraged
tasks that you'll be working on in the
beginning that might be the onetoone
interactions of getting customers and
then it might be marketing and running
ads and then it will be like oh you're
focused on your employer brand you
always want to look at how much is a
unit of time worth to you take the total
amount of profit that you earn in a
month or in a year and divide that by
the number of hours that you work in a
month or year and you do not want to be
doing anything that is below that hourly
rate that you could then go out and hire
somebody to do those things Point number
10 take big swings the more SU success
that you get the more money that you
acrw the more that you will have the
ability to take big swings and in the
beginning success is usually by taking
lots of smaller swings that aren't going
to put you out of business but the more
financial resources that you get if you
want what others don't have then you
need to do what others don't do and the
best way to do that is to take big
violent wild swings of something that no
one else in your Marketplace is doing
nothing else that you've ever done
before those are the things things that
are really going to give you the most
disproportionate results to what it is
that you're doing the more years that I
get under my belt in business the more I
realize that the bigger swings that I
take the further that I can hit the ball
Point number 11 Master one channel in
marketing you've got demand capture and
you've got demand generation and you do
not want to start by trying to master
both of those things straight out of the
game if there are people that are
actively searching for what it is that
you sell the easiest path for you to go
down is demand capture I.E are people on
Google actively looking for a solution
to what it is that you provide they are
the easiest people to convert you do not
need to have crazy offers Hooks and
storytelling or anything to be able to
convince those people to buy they are
customers that I call have a bleeding
neck and they're looking for an
immediate solution to that problem
demand capture are where the millions
are made but demand generation
are where the billions are made and that
is being able to go out into a
Marketplace and to generate demand to be
able to put out ads offers Hooks and
stories that actually gets people to
want what it is that you've got so think
Facebook ads YouTube ads and this is the
channel That unlocks the most violent
scale in any business because you're not
limited by the number of people that are
specifically searching for what it is
that you've got it also requires a much
greater level of skill because you need
to take somebody that is not remotely
even interested in what it is that
you've got and you need to piak their
interest in order to them provide a
solution to what it is that you've got
and actually get those people to buy
which brings us to point number 12 the
larger market formula basically what it
shows you is that in any given Market
there are 3% of people that are looking
to buy they're the people that already
know that they've got a problem they're
on Google they're looking for Solutions
to their problems then you have a
further 177% of the market they're the
guys that are in information gathering
mode they kind of out there seeking out
information they might not be looking to
buy right now but they're certainly
thinking about it and they're they're
open to it then you have a further 20%
of the market that is problem aware they
know that they have a problem they know
that they need to lose weight they need
to buy a car they need to meet a partner
but they're not actively out there
seeking out information and looking
looking to buy and then you have 60% of
the market that is not problem aware and
that's where it's your skill as a
marketer in the demand generation to be
able to go out to those people and to be
able to get their attention to hook them
in to keep them interested to build
enough desire in what it is that you've
got and then make them an offer and get
them to buy once you master the skill in
being able to do that that is when you
unlock a different level of geometric
growth for your business step number 13
quick fast money versus big Slow Money
the longer your time Horizon the bigger
the payoff is and if you're focused on
making as much money as you possibly can
right now then you are going to be
leaving a huge amount of money on the
table because you're not playing the
long game and longer games have fewer
players in them and you want to play in
decades not in years but most people
they're just so impatient that they want
that quick win that they're just
concerned only about how much money that
they're going to make this month or this
year where if you look at the biggest
businesses in the world take for example
Amazon they lost money for over a decade
before they started making money they
had such a longterm perspective of being
able to build build out a logistic Hub
of their business that would allow them
to reach all the customers at the scale
that they are today and that required a
significant investment but because they
were willing to do that they get to reap
the biggest money the big slow money and
you want to in the beginning be focused
on quick fast money because you need
money it's the oxygen that keeps you
know the lungs of your business full but
the more success that you see and the
more money that you kind of squirrel
away then that earns you the right to be
able to play longer games and really
think about not where do you want to be
this time next year where do you want to
be in 10 years what is the type of
business that you want to be building
and when you start thinking that long
term it completely changes your
perspective of the things that you
invest in in your business I learned
very early on in my career that people
don't want to get rich they want to be
rich you want to go and fish where the
fewest go because the fishing is best
where the fewest go and the fewest go
where those
longterm games where you're playing in
decades but the payoff for those things
is going to be infinitely more than the
whole pool of people that are playing
for the quick small money Point number
14 focus on the skills that have the
longest halflife in business there are
in infinite things that you can focus on
and the more success that you see the
more that you want to engineer your week
your month and your years to be focused
on acquiring the skills that are going
to compound throughout your whole career
so as a marketer you might start as the
salesperson you might start as the media
buyer that is running the Facebook ads
there is in Facebook ads all day long
what we know from Facebook ads now is
going to be entirely different like in
the next four years so I obsess over the
next year of becoming the best Facebook
media buyer in the world those skills
and all the time that I spend to acquire
them they are going to be completely
different in four years therefore they
have a very small halflife instead
leading people communicating with people
being a clear writer these are all
things that are going to continually
compound in whatever the skill or
whatever the business is that you run in
the future and as you continue to work
on those skills the biggest hack that I
have found is just to try to make
yourself redundant at every step of the
journey so that you can focus on those
skills that give you the most leverage
long term and that are going to serve
you because if they give you the most
leverage you're going to get the most
throughput and you're going to build a
much bigger opportunity for everybody
that's involved Point number 15 spend
80% of your time focusing on how to
increase the average lifetime of a
customer and spend 20% of your time
focusing on how to reduce your customer
acquisition cost if there's anything
that I see more common in the marketing
world is broke marketers obsessing on
how to lower their cost per lead or to
lower their customer acquisition cost
and they obsessively run crazy split
test they're buying every single
Facebook media buying course that exist
out there and they're just myopically
focused on this thing like it's the
detriment to their business and instead
what you want to do is focus 80% of your
time focusing on how do I deliver a
better product or service that either
gets people to buy more or to buy more
frequently and just provide an
incredible experience where my
customer's lifetime value
is higher than anybody else in my
industry or my category and therefore I
don't need to obsessively be focused on
how do I have the cheapest customer
acquisition cost I can afford to spend
the most to acquire a customer because I
make the most of each customer and
you're able just to snatch up everyone
in that Marketplace because you're not
worried about trying to shave $2 or3 off
your CPA 80% on increasing LTV and 20%
on reducing your customer acquisition
cost Point number 16 Advanced people
always do the basics I see people all
the time obsessed over doing the most
advanced and shiny things that's
possible and whenever I used to read
like biographies of billionaires or I'd
meet with people and I would ask them
about their journey I would feel like
that they're leaving out all the juice I
was like when are they going to get to
the Tactical stuff like the exact
sentences that I can say the exact ads
that I can run that are going to make me
successful and they always spoke in like
generalities and like in Frameworks and
I was like yeah like that's all good but
like give me the juice dude like give me
the actual specific things like yeah
okay cool like have an exceptional
product right and have it so exceptional
that you can charge premiums and then
make more profit per customer so that
you can hire the best people to come in
and help you with the business and make
sure that you break off a percentage of
your annual profits into R&D I was like
yeah that's all cool right like give me
the tactics Now give me the shiny
tactics and I realized after reading
lots of books speaking with lots of
people these Advanced people they always
did the fundamentals every time where if
you look at like a lot of gurus online
and if you look at a lot of business
experts they will be selling you the
most advanced thing the most advanced
tactic and a lot of times they don't
have big businesses because they're not
following the fundamentals they're
obsessed over the most advanced funnel
that you can have or the new Facebook ad
targeting strategy I can save you all
the heartache right now none of that
matters if you just do the
fundamentals and you do them
exceptionally well you will wipe the
floor with the people that have the most
complex Advanced funnels and AD
targeting strategies that exist Point
number 17 skepticism in the 17 years
that I have been in business one of the
constants that I have seen is that the
level of skepticism in all markets keeps
on increasing now that you have Tik Tok
and YouTube and all these organic
traffic engines that exist the barriers
to entry to start a business keep on
getting lower and lower then on the
other end of that you have the whole
Guru model where there's a whole bunch
of people out there that are selling
courses about people quitting their N9
to-5 and starting their own business you
have more people that are not experts
that are in business in every single
category that exists and as a result of
that there is a lot of incompetence and
that incompetence adds to people's bad
experience which also adds to their
skepticism people are just jaded they're
more skeptical than ever before and you
need to be very very present of that in
all of the marketing that you put out
there and the antidote to skepticism is
value and the thing that I have found
that you want to focus on is by proving
to people that you can help them by
actually helping them there is nothing
that you can do there is no headline
hack there's no ad targeting hack that
is going to Trump that and when you do
that you get a much larger group of your
Market that actually does buy because
you lower that skepticism meter of them
being burnt in the past and you provide
value and you prove to people that you
can help them by actually helping them
then in addition to that you also
provide all the Goodwill to your
Marketplace by helping people that are
never ever going to buy off you as well
so you need to throw stones at the other
Alternatives that exist that aren't your
product and you need to show how those
products have not been able to deliver
on the promise that they make in the
first place which forms into something
called a unique mechanism so we'll take
the weight loss market right is
someone's in the weight loss Market the
chances are that they have tried another
diet they've tried paleo keto
intermittent fasting they've tried all
of those things yet here they are still
overweight and wanting to lose the
weight and you need to be able to
articulate why all of those things have
failed the individual and then and only
then then do you present the unique
mechanism behind the solution which is
your product to solve that problem and
you need to compare and contrast and
show people how it is superior to all
the other Alternatives that exist in the
marketplace and unless that you're doing
that with your ads and your funnels and
your promos then you're never ever
addressing the skepticism that is
rampant in the market and unless you
address that skepticism your conversions
will always be low Point number 18 a
Godfather offer a compelling offer is
infinitely more powerful than a
convincing argument in any transaction
there is risk present and in most
transaction the business owner is asking
the prospect to wear all of that that
risk they're like this is the product
just buy it this is the price just buy
it when realistically you want to be
aware of the risk that is present in
every transaction and you want to burden
the majority of that risk as a business
owner and the more that you do that and
the more clearly Define the end benefit
that your offer enables the more
compelling your offer is now the biggest
rebuttal that I get when it comes to
making a Godfather offer is that like oh
wow you want me to burden all of that
risk and then if I do that there might
be refunds and that's going to cost me a
lot of money but the thing that most
business owners don't take into
consideration is that we are all in the
business of going out there and getting
attention and then converting that
attention into customers the more
compelling the offer the more people
that you're going to get to actually
convert and that is going to lower your
customer acquisition cost a compelling
offer is more so about having a very
clearly defined promise that you're
making and then removing all the risk
and my lipus test for this is if the
offer does not keep the founder up at
night then it's simply isn't strong
enough think about what is it that you
can add to make your offer more
compelling or how more clearly defined
that can you make it or how much more
risk can you burden for your prospects
to make a no-brainer for them do that
and watch your sales explode Point
number 19 Showmanship and service I
believe that Showmanship is one of the
most long lost art forms that exist in
business people will forget about what
you say in your ads what you write in
your
emails what's in the specific thing that
it is that you've got but they won't
forget about the way that you made them
feel not only only just being a showman
in your promotion and in your ads and in
the way that you get attention but even
in the way that you service delight and
surprise your customers and a great
example of this is be Ritz Carlton
they're kind of been studied as like the
gold standard of customer service and
one of the things that they've got is
that they give every single team member
in their business an allowance of
$2,000 for each incident not each person
staying in their hotel each incident to
write a wrong or a complaint that a
customer has while staying with them
they don't need to get approval they all
have $2,000 as a budget to write that
and as a result of that that just has
people having the most incredible
experience ever when they stay at their
hotels because if anything ever goes
wrong that person that is serving them
has the authority and power to spend
$2,000 to to make sure that that
experience is no longer an issue and use
that opportunity not to just overcome
that problem but to surprise and Delight
the customer not thinking about what is
reasonable what can you deliver on start
with the extremes and then you think
about how can I inject some of that in
my business what is it that I would be
able to do to surprise and Delight my
customers so that they have a remarkable
experience that they bu definition want
to go and leave a remark about and tell
other people and then you get more
customers and I have found that the more
Showmanship that I inject in my business
from the way that I promote and Market
to how we service and Delight customers
once they come in there is nothing quite
like lighting someone up with a big
smile or getting handwritten letters of
saying what a surprise and how delighted
that they are it's also good business
which brings us to Ai and the future of
marketing not a day goes by where I
don't receive an email a handwritten
letter or somebody asking me sub what
about AI like how is isn't this is going
to make all agencies redundant isn't
this going to make most businesses
redundant what are you focusing on as a
marketer as AI comes about and what do
you think is the areas that I need to
focus on that aren't going to be
replaced by Ai and I think that over the
last couple of years like I have been
completely in the trenches on AI and
applying it to my clients businesses to
my businesses and the more that I use it
and the more that I have my team use it
Things become apparent a lot of the
manual tasks that we do like
interpreting data operating Within These
auction pools on Facebook and Google ads
and doing media buying all of that stuff
is eventually and inevitably going to be
completely automated but if everybody is
using AI for all their media
buying and all of these marketing
campaigns that they're running then what
is going to be the differentiator what
is going to give people an edge
everybody has the same advantage and
that's been a question that I've been
obsessing over for the last year and a
half and the thing that I keep on coming
back to is it's all about the ideas and
in
imagination is more important than
knowledge to quote Albert Einstein and I
think that that is going to be something
that's going to ring true over the
decades to come and it's going to be
people's ability to come up with big
ideas and to apply their imagination
that then we can guide AI into to help
us do all the logistical script writing
media buying running the ads writing the
headlines and doing all of those things
and when it comes to like ideas and
creativity the thing that I have found
that helped that is that Solitude is the
wind that Stokes the flame of
creativity and you do not want to be in
a constant state of consumption because
the more that you consume the less that
you
create so if you want to create more you
have to consume fewer things and when
you allow time and space to transpire
and you allow quiet to happen and you go
for a walk without your phone that's
often the time when your imagination
runs wild it's these big ideas and these
Concepts that is going to be really the
differentiator with the coming of AI so
I hope this serves you wherever you're
at on your business Journey like
subscribe and I'll see you in the next
one
Parcourir plus de vidéos associées
![](https://i.ytimg.com/vi/C-rp7JLqqD8/hq720.jpg)
If I Were Starting a Company In 2024, This is What I'd Do [FULL 0-$100M GUIDE]
![](https://i.ytimg.com/vi/UIhjPxql1Hg/hq720.jpg)
How To Build A BRANDED Shopify Dropshipping Business.
![](https://i.ytimg.com/vi/exkR4bnfD5U/hq720.jpg)
How To Make $100K A Day With VSLs In 2023 | Peter Kell Interview
![](https://i.ytimg.com/vi/KwCAnO_pP0U/hq720.jpg)
Come guadagnare (veramente) online nel 2024
![](https://i.ytimg.com/vi/K8MFC9t7snY/hq720.jpg)
How to Print ENDLESS Money and Get Rich Forever
![](https://i.ytimg.com/vi/N2_eQ15Lz7o/hq720.jpg)
10 Reasons Why Your Small Business Will Fail - and How To Avoid These Tragic Mistakes
5.0 / 5 (0 votes)