# 80/20 Marketing: What’s Crushing it Right Now – Taylor Hendricksen – MicroConf Growth 2019

Channel: Rob Walling
Video: https://www.youtube.com/watch?v=QtLFwjdQJ94
Duration: 38 min
Language: English
Words: 8915
Transcript page: https://viewrankai.com/tools/youtube-transcript/QtLFwjdQJ94

---

[0:00] [Music] [Music] I'm gonna be talking about 8020 marketing you're gonna be going through what's working and what's not in 2019 so quick rundown what are we going through first off we're going through the truths and myths understandings gonna go on Mike Tyson on you then we're gonna get into actually what's working and this is not everything is marketing is obviously a massive subject and there's lots we could talk about and go deep in any one of these single subjects but we're gonna be going after things that have the highest leverage so both quick to implement as well as massive results either or usually we'll break that up

[0:43] into three sections one traffic so getting a traffic to your website purchasing organic conversion email subscribers customers and then how to maximize the customer value throughout time and then lastly we've gone over the 8020 ninja hey 80/20 squared so that's where the all the money is that so Who am I I need you take what Hendrickson I live in a little beer drinking town in Columbia River that's that's my why and I really like that Rob talks about this because it's really important to it's not about growing a massive business it's not about making a ton of money it's about being able to have breakfast and dinner with the

[1:15] family every single day so I consider myself a sales funnel and growth hacking I'm not I hate the term growth hacking but growth nerd I try to figure out what works in businesses how to scale those up and how to use something that it probably pretty much business that sells something we can figure out how to scale this faster so I own operate advise about five or six different businesses all self-funded multiple oh so we spend our own money we don't have any kind of VC backing type stuff and I've also because a couple my partners have built up some pretty massive businesses out of multiple hundred million dollar

[1:46] companies we the back into access to see what's working and what's not so well sometimes we're not spending the volume you quickly learn if you're spend a hundred thousand dollars a day on Facebook what works and what doesn't so some of the stuff is gonna be actual anecdotes and data to be able to show examples of it some of its gonna be talking about what works at a massive scale so it's not just a I did this one time I'm a one business and it's one opportunity and this is what happened this is a we run this multiple times these are all the stuff that is cross

[2:12] applicable to about every single business so first off truths and misunderstandings let's go over a few things that people like come and miss about marketing what people think about it and I hope we bust a few does to have a proper perspective to look at this from so world-class experts everybody thinks that you know they see that a webinar they see an ad to see a headline maybe the people just who are good at it automatically come in hit homeruns every time work like class experts fail more than they succeed their biggest difference is how many times it takes wings to good company I know produces

[2:45] about thirty videos a month and these are things that are spending hundreds of thousands of dollars on they've got a one in ten hit rate they do this all the time did the best in the industry about it they get the best experts they still have to go back and redo things so many times and cut what's not working they just know how to take as many swings as they can to figure out over time what works I saw a video recently it was Neil Patel talking about what's going to work in 2019 and the main summary of it and one of his points was you had to be

[3:12] everywhere you had to be doing everything if you're not blogging podcasting doing YouTube videos doing paid traffic on Google Facebook then you get left behind and that's just not true in my opinion I think you takes one to two channels of really doing it well and digging that all the way down to get to a hundred million dollar company Beachbody talked about this infomercials was theirs they double down the Facebook ads did the same thing but really you don't have to do and just be spinning your wheels at everything to be extremely successful what you do they did a big study wicked reports to study on on average from click to conversion

[3:46] how long does it take for somebody to go from basically purchase it's over four billion dollars of the spend they found on averaged is forty days so people assume that you just throw up some ads you can we run some organic traffic people gonna convert on the spot it's not case about three percent of people will do that but another forty seven percent are willing to buy in the next six to twelve months there's not quite ready yet they need a little bit more nurture a little bit more time depends on we'll study and look at ten to eleven touches with your business with your brand before they're comfortable

[4:13] actually purchasing with you so all this kind of goes into your content goes into your advertising it goes into how you walk up somebody from a nobody knows who you are up to actually becoming a purchasing customer so the for a long time advertising was based off of either demographic or query-based traffic so query based types um into google show up on the top of the search results you can click it or go after females between the ages of 30 and 50 who live in Northeast you know the United States those lines are blurring really well I get into this more in the actual paid traffic section but now

[4:45] you're able to do a lot more with targeting people who have very specific intents towards those keywords without having to pay you know 50 bucks a click for the 500 people a month that search for that term so we'll get to that more in a little bit in this one it's gonna be a little bit different - I think there's a false dichotomy especially in the software world about I run SAS I run I run SAS I don't listen to econ people or digital products it does not apply to my business I don't think that's true I think the same thing if you are selling something you're selling something and

[5:12] in the end you may have different objections to overcome you may have different things you need present in terms of value but you guys can learn as much from what did people are doing to me calm what they're doing in digital you know digital products and it really apply to our SAS in creative ways that maybe aren't talked about very much so honestly what's happening right now is machine learning is taking over in the world of online advertising it's more and more going to the robots being able to make decisions for you so with machine learning and on estate artificial intelligence it's getting the point where they pretty much want you to

[5:42] hand over control so before we used to have hundreds of buyer signals being kind of optimized for so things like keywords age location specific things we wanted to target Google came out recently instead for the universal app campaigns they have about 300 million buyer signals I believe it was for each person on what they can optimize for so there's no way right now that you can go and figure out which out of those is working but they're figuring things like past purchases their search history the videos they've watched where they're at on what device and what things they've interacted was in the past that do that same thing so maybe

[6:15] they're most likely to purchase on a Sunday afternoon when connected Wi-Fi after watching this type of video they'll put your ad in front of that as long as you're optimizing for those exact things so how to take advantage of this the good thing is please the robot overlords you need you to provide great data like that's the best thing say hey this is kind of what I want here's the people who just converted go find me more of them and if you don't have as much of that say hey here's the people that watched a lot of the video go find me more of them it was

[6:41] basically saying here's the people that we want to go get more of go do it and so that's we're gonna be talked about a lot more about that in a traffic section but um quick show of hands did anybody bring like steaks and pitchforks biggest impact luggage perfect what one did okay what I'm gonna say next a little bit controversial and you might be a little bit pissed off and hopefully probably run me out of town with steaks and pitchforks but if you can't afford to profitably acquire a customer you don't have a business you have an opportunity and what opportunities can be extremely lucrative like as you see from any

[7:12] startup you look at Facebook there's all these different things right products right market right time right team everything like that it is in a lot of ways a big gamble in my opinion so if you don't have a core ability to go back and put $1.00 in and get $2 out because you know the value of your customer then you're playing on something that you have a much lower hit rate in control of so I think paid traffic and making sure you are really mindful of your numbers it should be a core of every single business out there so it's like about traffic first things first

[7:38] organic SEO Travis talked a lot about this yesterday I really wish he had the full presentation too because he's the SEO expert but what's crushing right now is these giant pillar content posts he talked about the idea of switching from keywords to topics and to have kind of topic relevancy Authority around your site one of the easiest ways to do this is just take a big ol hammer on what you're talking about a complete guide as opposed to just kind of dink it away in a tiny little nail just a smudge hammer down and then often means I mean 2,000 words of contents more reasonable but

[8:05] some of the bigger ones definitely have the capability to cover a lot more terms a lot more things and you will naturally cover the subject if you write a couple thousand words on it a table of contents a great way to get not only some great you know in page stuff Google sees it as a way to kind of better organize the content but it's a great way to get featured snippet to so key way to do that using h2 for your table contents title that term you want to rank for and the features tip it on Google and then a unordered list right below that linking

[8:30] throughout your posts often times you'll get either like the site links and the social result or sorry search results or the featured snippet position zero which is great rich media and schema are becoming a bigger and bigger deal to like the more of these it's not really a way of gaming Google but it's definitely providing them the content that they want in the format that they're looking for so add as much as you possibly can ask questions throw FAQ markup on those have the like things like many tables throughout as much videos and images you can and one way to do that also to take your multiple content mediums people

[9:02] don't necessarily want to read through a long worded post some people wanted rather than listen to it maybe they're on the you know on the commuter something so just take this get it transfer you know voice over it or throw it as a Amazon poly you'll get a mp3 of it this robot but it's still pretty dang good for what it is make those videos also Google sees it as a much more authoritative source to as much as possible is great and if you are really into content marketing and you're willing to spend a couple thousand a month on a tool there's no better one out there than Markham use I don't get a

[9:29] kickback for saying that but if you want to optimize your content for what Google is rewarding they are the best tool to do that what that looks like is some pretty massive growth over time and this is a little bit older but still same thing applies this is basically based on a database style content where we just racked up a ton of longtail stuff added much of our schema and had tremendous growth there's a b2c SAS business - in terms of add content what's working really well right now the more you can make it a game on there - the more you can make it fun interactive and not just

[10:01] a boring man how many like stock images you guys seen on ads that are just clearly not there they you know they don't fit well on there but something like this you know hey how much do you know about this here's a pop quiz what's your IQ about this take a friend see how well you do average scores 73 percent can you do better than that we use this to drive about 15,000 leads a month at 21 cents each and just for months on end we didn't switch up creative just worked like crazy so nothing consider that in how you're matching content you could do a lot of

[10:30] cool things now with educational videos and I know there's a lot of b2b fast here and a problem is targeting you know it kind of a very narrow niche so you can cast a wider net and be able to filter down the process by using things like only video subjects their educational that your prospects would care about they watch over half the video maybe or three-quarters the video you can then put them down those next levels of retargeting to go after and talk more about them anybody who's not in essence like really deep in your niche and watches that probably will bounce off in a few seconds which is

[11:01] great you don't want to talk to them to begin with so you want to sequence this like a new who had a normal conversation back at 40 days some 11 touches thing same thing there like as you're going through and initially talking to him just like you would if you're going through a sales pitch introducing the product talking about the benefits mitigating some of the risks answering some of the objections you should structure your content throughout to answer those exact same things and follow it like a normal sales sequence would and if you're talking on social especially be native you know you don't show up in a tuxedo

[11:30] to a you know a small house party either you want to make sure you're fitting the environment you're in so things like emojis yes we're great selfie videos we're great to the tip there instead if I was a heck of your customers to give you a 30 to 60 second selfie video as a testimonial they have 50 hundred bucks whatever it is but that's a real thing that people are just shaky all along is the audio quality is decent those are some of the best collateral you can have out there cuz it's real so let's get the paid traffic a little bit to our Facebook side raise the hands due to how

[11:58] many people actually act as we spend over you know a couple thousand a month on paid traffic very few okay good to know we're gonna get the kind of what's working now and I think everybody can start on this especially on Facebook at a very low rate to an intimidating subject because you're spending a lot of money you don't have spent work experts out there across the board most of them are shysters honestly but things are working right now on Facebook I think you can implement it something like a look like audience so take your email list take your website traffic drop a pixel on it and you can create go to

[12:28] Facebook and say hey give me as many people as you can that fit this mold and they'll give you a one percent of the total country population you target that you can target or one to ten percent break those up into separate groups and usually those are like a lot more people you would have never necessarily found otherwise but Facebook knows again the robots are taken over so they know a lot more about your prospects than you do but you just say hey give me more of these what the whole algorithm is going to before the you were able to optimize an ad group level so maybe get a little bit too

[12:59] technical here but it was really tough to go out and scale Facebook Ads you had to have tons of campaigns tons of interest get really manual on it now they're switching over a hundred percent to on a campaign level and say hey just throw up a bunch of audiences throw up a bunch of ads within each one and we'll figure it out well optimize will divert traffic to which ones performing best and oftentimes the try got that one or two things that are really working well benzylic what kind of what your but bidding for and they'll do it that way so it's a tremendous way to now man we throw up big audiences so

[13:27] like sorry for six to eight of them as long as you have enough conversion data going through which is about twenty per day and for some people who say well i can't get twenty converse is a day that would also like that that's insane plus them maybe their the value for conversion is you know hundred bucks then i could be able to drop to two grand a day starting off on ads you can optimize for something like a micro conversion for that too so link clicks you twenty Ling clicks today especially two dollar and click go into your stuff so now they know what you're looking for

[13:51] and who's kind of reacting to that okay yeah get more people who are interested in clicking on that for sure if you're doing betta see that's kind of where my paradigm is usually start with those audiences no less than a million people I know probably most b2b audiences in here or far less than that but it's a good place to start again just give it as much as you can let it figure it out and then video ad retargeting is another one of those too like I've talked about qualified with educational videos you can really walk people through a great sequence of videos if they're watching

[14:19] more than 50 to 75 percent of them video views you can get for a couple cents piece versus you know link click so to go to your site that started be a buck a couple bucks whatever that is I can rack up cost pretty fast but this is a way to keep it native within facebook's platform and still continue that conversation with them and lastly a little tip here use post IDs if you're creating new ads don't just keep creating new ads because you're not sharing the social signals between those so use an ad you'll see the post ID if you actually go to that ad and copy it

[14:47] into the ad manager to make sure that same thing with all those likes and comments is getting put forward because they perform so much better over time so we copied those throughout and reuse smaller amount of posts much more often because of that next off is paid search and Google - and this is there's a couple sex sides to this - I'm not actually eating talked about Adwords you know the whole query base stuff where I think this is going that's really cool and blurring the lines between this contextual targeting your query targeting and demographic targeting it's called custom intent and custom affinity audiences so for this

[15:18] you can plug in something like hey what keywords are my people searching for what subjects are they interested in what websites you to go into and then instead of trying to compete for those 500 searches a month for 50 bucks of click which very low volume you go after those people who have done it in the last few months and start to follow them around everywhere else you know so you can now be that creepy person that you think something and then Domino's pops up on your phone this is how to do that it's a really effective way of going after an audience for you're not exactly sure what they're

[15:45] doing but you know a lot about them so their names are the keywords or what websites are frequenting intent is all we are sorry if in any is the stuff they always like so football fans you're always football fans you going to go after the football fans intent is when they divert from the normal stuff so a football fan now shopping for a truck so let's say you separate those two and very much like the Facebook's that look like audiences in Google are called similar to audiences they'd be automatically created for you but a great way to target and say hey just please go find more these people you can

[16:12] now target those audiences really well and make sure to break these up too you know similar to your best paying customers maybe your top 25 percent of customers you want to get better than that some of your website visitors when people watch a video you can build these audiences based off of multiple factors you're gonna get a little bit different cross-section of people at every single time and then you kind of figure out what works from there based on the result you get for the campaign's YouTube true view for action is now becoming the best way to use YouTube ads to actually drive conversions before is

[16:40] very difficult to track you know usually it was they saw some on YouTube they went back and googled your stuff and what's your website and they convert it so you had no attribution for who you know how to much to credit YouTube you just know when you spend on YouTube it rises a little tide now this is a way to actually drive a call to action with a direct link going back to your website and this is how a few companies now start to figure this out of scale this is how you can spend 70 80 they're just about to 100,000 a day on YouTube I'm

[17:06] not gonna really get a genius smart campaigns but if you want to know more about that tremendous way to if you have enough conversion data going through you turn that on and it just goes out and does everything for you which is really cool get into conversion as you guys can tell I kind of like in the nature scenes nice and the Vegas concrete jungle to add a little bit of a calm little piece to it conversion so this is going to be talking about either an email as well or email conversion contact type opt-in as well as the actual product itself so a big problem people have is they don't

[17:34] actually know what they're selling you think you're selling a product you think you're selling a software you know whatever this is integration here's the features use cool stuff you can do as a developer you're so focused on building those to match use case with your customers that you forget you're not selling a piece of software you're selling outcome or the solution to a problem or a deep desire and this is where we'll get into a little bit later - about how to take it down levels beyond i cell scheduling software I make sure that you don't look embarrassed because you forgot something you know you start to move past these

[18:04] levels of tool and then becomes an evolving logical decision of okay is this worth the price I'm gonna pay for it - how much could this impact my life you did preventing something bad from happening solving a hair on fire problem I have or a deep desire that really makes me motivated to buy instead of just a very logical decision on that so in that you should try to give them exactly what they want nobody likes tips nobody wants to wake up and see a new email and newsletter in I think we all get embargo with so many email newsletters we will never sign up for something like that so anything like

[18:33] tips ebooks white papers same exact thing something like this will be I'll get to just a second also but that gives instant and personalized results as to what they have market means does a great job of this often with some conversion stuff but they provide a like hate direct you want to see your content opportunities where you have some opportunities for it you get instant feedback as to what that is which is something instead of some like you know white paper on tips to improve your content marketing which nobody wants more tips you get instant personalized results about you and my favorite way of doing that is through those calculators

[19:04] and quizzes and I'm not just talking about you know what Disney Princess for you that's nothing to your business things like IQ questions like how much do you know about the subject people always want to know that what category are you in it allows you to take qualitative questions and put it into quantitative data so you can either do a couple different ways if you're a scoring basis you can do a category basis or what I call points or a limit set so a lot a little based on kind of what points category they fall in associating or weighting each kind of answer differently in a multiple choice

[19:32] type situation it allows you to make micro commitments to as opposed to just jumping over a big hurdle of I don't know if I'm gonna silly get the value out of this email address if I'm going to put it in I don't know if I can get that value versus click click you start to string together those things and sooner or later they're willing to enter a lot more information in before because you feel like you've taken them on they feel like you've taken them on a journey it allows you to agitate a better pain and get them into a kind of a buyer mindset too which is great

[19:58] you can start to get them in the framework of especially coming off social media they were just looking at cat memes so to get them into a place where they're now ready to purchase your product is gonna take a little bit of distance this is how you can cover that distance start to get them in that mindset of buying and it allows you to create some incredible viral and standalone potential as well as paid traffic so some examples of this implement it we had a normal a book type stuff we took opt-in rates from about 5.5 percent to 8 percent this is on 500,000 visits a month types of heights

[20:26] so it's not like a 200 visitors per month type thing same with another client same exact thing and I do have a colleague who'd used this for his b2c SAS I was able to get a standalone test it got a bunch of press features a bunch of you know number one ranks and was driving those things all day long tremendous impact in this business so if you're not considering it figure out a way you can make that either do a personalized result for how much you can save somebody somebody can know about themselves but make it something I'm actually interested in to like example like a real estate agent - not

[20:55] necessarily hey you know give me information so I was telling you but the main core idea somebody has or question their mind to have when they're actually going looking for a real estate agent is how much is my house worth how much could I sell it for today if you can provide that exact same thing through an automated system tremendous way to get some great and much better conversions so email marketing I'm sure everybody here mostly does email marketing b2c or b2b email marketing is about as interesting as beating my head into a desk usually you're talking about features you're comparing things it's just super boring

[21:26] the more you can make it about a story and engaging and especially engaging people at work you can have much better results of this so Auto responder Madness is a great way to do it I have another buddy who does this basically I mean he's an improv background and he's gone into b2c or b2b email marketing a lot and he starts off with a completely random story he had one about somewhat Charles Manson I think was in the subject line like the start of the genius of Ted Bundy was a subject line tremendous response rate he was talk about the Netflix thing and any segue into the business itself so you can make

[21:53] it so people actually want to read your emails which is kind of crazy as opposed to just selling them hard right you know directly into it tactical way to do this to is making sure you have text only emails so as much as you like the HTML stuff with beautiful headers and links over to your social profiles those are killing your inbox the Guinean promotions we've eaten spam the best way to do this is no more than three links on a page no images if you can avoid it especially in linked ones I mean nobody sends their friend a linked image in an email so this is a good way

[22:19] to make sure you get in the inbox and unsubscribe only as the text I had a buddy test us he switched over he sends about six million emails a month or so he says unsubscribe from this list versus just unsubscribe tremendous improvement there a tremendous difference when he switched to the other one and then switched back to just unsubscribe and then from a human name you know just like an email you try to mimic human behaviors as you can and another trip to is try to get as many replies as you can to so in the first emails that we send out we're asking them things we want them to respond to

[22:48] the email because the great signs ESPs the your delivery and value people want to read these emails because they're responding to them that's great so we're at industry average open rate start 28 or 21.8% says MailChimp 17.4% says hey Weber we're getting fifty four point three percent for one client and you can see the other ones down there this is not like sending ten emails or a hundred emails a month these are all lists of 82 about 250,000 we're sending out millions of emails a month of this giving those numbers consistently with text only with engagement with making sure people actually want to open the email that's

[23:19] gonna be the only way you actually mickey's make a sale last section monetization or maximization is well the money's at is it best part of it so most people think they have a traffic problem but most people probably have to have a monetization problem honestly you're not making enough money per customer you're not charging enough I have enough better ways to make that money off the customer so this is where I think the lowest hanging fruit is and bottom the funnel stuff we're having a tremendous impact in your business it all starts off with making a great offer this is a little bit more strategic than in tactical

[23:49] they're focused on solving their pains I'm again I'm gonna come back to you because that is one of those keys I'll get it a little bit on what exactly that looks like but figuring out how to I think fast in general gets this idea of we have software we want to charge 40 months for it it's only monthly fee they sign up and then they cancel like that's the only constraint that they think about SAS there's some other things you can do in there there's some other pricing models you can look at once you're charging 50 bucks a month and you know average churn is three months it

[24:16] means your average customer values about a hundred fifty bucks what if you offered in a one-time for three hundred bucks now I'm making a lot more money and others obviously like the ongoing support and maintenance stuff but just think of things beyond just a standard monthly payment to and a same thing with a dollar trial it's different like opt-in offers how to make that trip wire type thing go into your product and just test it experiment around with what works and what doesn't on that the bold guarantee is something where I think it can work really well in a lot of businesses we had a b2b or b2c

[24:43] one that we basically said hey you don't pass this licensing exam we'll pay you back two hundred percent what you paid in we had to think payout about three different times out of thousands of customers it tremendously impacted conversion rate and also instilled a ton of trust in your product of hey we're so confident that our product does what it says it's gonna do and making sure they actually went through the courses we saw their progress making sure that actually did it not just coming back for some free cash but in a tremendous impact and because the product itself was fantastic to start with pricing Green is another

[25:14] way of doing this I was talking to a gentleman last night who had does scheduling for manufacturing companies and how to price that stuff - it's a really tough question you know what do you price the software piece at you know kind of the impact it has on the company maybe like you don't pay it's more of an insurance play at that point - sometimes up hey if your line goes off is something where you're still in vitamins you know you're selling something that's preventative but when you start to dig below that - of what does it cost you if your line goes down for three days and

[25:40] you can't manufacture anything even more than that what does it cost your relationship to the distributors your customers or what is it like what does that put in their mind can you put a price on that if your customers don't trust you can actually keep a business running or create good products anymore so figuring out where to price those things out either to an equivalent thing and for the b2c world it's really trying to make it something that they do every day so anchor it to the price of eating out for a coffee or something like that with like okay they equate value either did something really small or the

[26:08] prevention or something really impart how much will cost you if you fall and break your hip that's a lot of money and a lot of stuff and then including awesome bonus gifts is another way to potentially maximize that value Prince of incredible stories about just offering a simple coffee cup or a t-shirt tremendously impact the front-end conversion so we always want to figure out how to bean creature customer values and I know in SAS often times that just means add to zero to it but figure out bilities that they can pay more for things you know maybe have some different tiers have add-on options that premium bundles have something else you

[26:42] can offer them because you've already done all the work I've requiring the customer that's by far the most expensive thing now you want to maximize how much value that how much you are charging for getting from each one so a way to do that also is one-click upsells if your payment process or your shopping cart has the ability to do that the whole pretty sure McDonald's business was based based upon that completely would you like fries with that that's where they made all their margin because those high margin items hamburger is not so just by adding those things up hey would you like an additional product

[27:08] let's ask would you like to support would you like premium something even just doing something and call it premium support I have other companies I've heard from that have done expedited processing which really just means they kind of put those orders first for an extra five bucks so much it you know checkout pages it doesn't really do very much difference for them but it tremenda substantial amount of revenue to them every single month I mean there's some more stuff same thing add more stuff in there being figure out what else your customers are looking for that includes stuff that's not yours too you have a valuable set of customers

[27:38] that have now trusted you then listening to you and they have other needs too you think your product is the only thing that's gonna fit and that's kind of the paradigm you're in but after you're done pitching them maybe it's not right yet you just drop it I think most companies do we've had this conversation before at what point you start to switch over to affiliate stuff or to other products you can recommend that you know are great products that most of that audience would be find extremely useful to do so I would start to think about that how can you even though it's not your own

[28:03] product even though you're not actually making money personally off that you were gonna do some of those referral fees you're providing them with a great solution they may have not known before and you're basically subsidizing your ad spend you're subsidizing a lot of other parts your business that's free money you could be doing a very minimal cost for sending emails and lastly we're gonna talk about hip turn is a little anecdote I heard so not me personally but people can't eat brownies and can't see your stuff parry bells were told a story about a expensive about $400 a month project or sorry membership and they found out shirring was about four

[28:34] five months was average on when people are cancelling out so instead of just taking it they sent people brownies about two weeks before that it added about two and a half months of extra stick to that a thousand bucks for ten dollars the brownies they said people love getting that stuff for free I love an unexpected gift something like that where now it's like oh they genuinely feel bad canceling your stuff so what that's like a surprise thing you know figure out where your churn is and be able to like you know get in front of it that's a good way of doing it so last part the 8020

[29:04] squared the ninja loves I've found that image too this is make will make pushing feel like you're pushing a boulder downhill is it about pill and that's really solving the deep pain point or problem or desire and give this something actually what that looks like I know it sounds a little bit strategic it sounds a little wishy-washy but actually putting things in the context of where they're actually solving people's problems and get into the emotional level of purchasing instead of just being logical fill this space with you know whatever that is so what that looks like - we do a lot of leads for bathroom remodels -

[29:35] we do a tremendous amount of lead gen a bunch of different niches so instead of we're not just on a bathroom remodel awful contractor experience we're selling the ability to not be embarrassed their 70s bathroom again so they can entertain people people love the idea of having people over conceptually the awesome don't like actually doing it but now they don't feel embarrassed of it same thing with a walk-in tub or stair left - we'd have a lot of these leads of oftentimes there's boomers shopping for their parents on this - on they feel so guilty they can't be there to take care of their parents all the time maybe thinking is far away

[30:04] maybe they do something else they're willing to spend a lot of money for that comfort of their parents now you can take care of him 24/7 no matter where yeah and you're making sure you don't have you know a fall and some of the most dangerous rooms the house how much again would a hip fracture cost that really anchors the price well for an already expensive product then we have another one when the product that helps women recover from pregnancy and that's just an exercise and meal plan developed by some experts that's great information great content but it's really asking you know how your friends will demand to know how you did it so

[30:32] fast how you bounce back so well so really playing up that ego are you solving one of those desires the biggest concern of women after they gave birth was from what the people we talked to was I win my dream of a body back when is this gonna be back to normal how long does it take make sure don't hurt myself so by filling some of those demands you can make all of the marketing everything you've talked about so much more effective that'll carry through all of your advertising your conversations your website what your product solves and that's that it's actually going to solve the product for people or problem for

[30:59] people better because they know actually what you do what the value provide you for them again you're not so in software you're selling outcomes or results for people so thank you very much really appreciate the time here great community open to questions have you have you tried the $1 trial offer and any other insights on what the results were from that yeah so one of our trials a great way to as it post a free trial I know there's a lot of debate around this I'm really excited to hear some more about the pricing talk is coming afterwards too it was a great way to get people actually swiping the

[31:30] customer or swiping the credit card and the biggest thing was making them commit enough to whip out their credit card and after that you know say hey one dollar trial for three days is one of the things we had and works phenomenally well it was just that lowering the initial barrier to entry to get them in invested just a little bit do you see a bit like stair steps if you have a big little three foot step before you actually gonna get to a conversion that's really hard for most people so if you can add an intermediary one where it's a little bit of value of

[31:53] exchange for a little bit more then they're much willing to take that to the next level too so initially you can try it and make you get up go up to somebody and say hey it's gonna be a ten thousand dollar purchase most people that's gonna kind of shock them but there's a way to get a little bit better a little bit up there for that so we saw it work phenomenally well as opposed to a free trial that got them into a continuity program yeah thanks I love the talk thank you so an end of it b2b and BTC end up being very different is there like some anti

[32:20] advice you could give to b2b people and anti advice acute need to see like b2b people you're gonna see this a lot that's wrong b2c people you're gonna see this it's wrong or something like that mm-hmm I think oftentimes the false dichotomy I think in the end it's a bita age a business to human because you are sales being able to sell to people it's known to people and they're very different kind of what objections you need a handle what the motivations are for b2b it's like maybe if you're selling to somewhere is like a VP level their motivations are much more looking good to their boss not putting their

[32:50] neck out for something necessarily believe in where humor like b2c stuff is a little bit more about personal results for them but in the end you're able to tailor your product to fit who you're talking to a lot more so going after a business owner is a different conversation going after a somebody mid-level is maybe not Sally's making that decision so in general as you guys don't be the B's and when the longer sale cycles as a more approval in there too so being able to get back in touch with people in those follow-up sequences either manually through email and stuff or honestly the paid stuff to going

[33:17] after and put in five dollars a day to a facebook campaign that goes back and retarget to the same people that have already converted their maybe in the mist at sales cycle so it's just that constant little reminder throughout the whole time and saver be the c2 you know I don't think it's necessarily that different yeah um and you're beginning of your talk we were talking about the optimizing the emails and you know using text and not so many links and all that but you mentioned that just using the word unsubscribe instead of unsubscribe from emails or whatever you said it improved the emails what what did it

[33:47] improve about the emails was it just deliverability and inboxing okay yeah yeah so I learned it would not as expected that either so I learned it from somebody who's like really deep of the email testing world so we implemented that as well as about other people were sending a lot of emails to implement that and it just much better has to get in the inbox instead of promotions and same with spam to I think it closely moralized to what the esps are exactly looking for yeah yeah thanks for a great talk I was wondering go back to the brownie story for a second and and strategies

[34:19] for nipping turn in the but the brownie story is cute but comes off as a one-off so I was wondering whether you have other stories or other examples or strategies we might bring to bear that similar spend a dollar make a hundred to to improve retention in the same way that the brownie story did yeah yeah so brain is doing really focused on the idea of gratitude like somebody's not going to be able to have a great unexpected gift that kind of delights them and be able to go out and cancel something afterwards so it's more so making your company stand out at that and about the time where they're

[34:49] starting to have problems so for SAS companies in particular that could be user metrics hey we noticed your average login is below this you know quartile that we know it needs to be for you to stay active using it we know as soon as you go below that it's only a matter of time before you turn out so as soon as they hit that number or maybe getting close that number send out a personal reach you know a personal email to them reaching out say hey you know just want to make sure if you have any questions anything we do to improve the product those types of like personal touches of

[35:13] making it more human been playing on some of those cognitive biases - yeah a bias of gratitude so maybe it's not brownies it cute but man it's an extra thousand bucks a month from our thousand dollar customer values and ten bucks for the brownies can do it there's plenty of other ways to do that to offering something for free offering for your onboarding better support you know anything like that get ahead of somebody churning out yeah hi there thanks for the great talk by the way I had a just I'm just getting started with Facebook ads and trying to figure that out and I was curious if there's a

[35:46] difference between the ads and the boosted posts and if there's a good place to go to just kind of get started with Facebook ads if you really don't know what you're doing yeah totally so Facebook is changing about every week in terms of what they call what titles within there where is hit with the interface so boosted posts now like a different thing altogether and technically for to create a Facebook ad well that's always saying when using post IDs those are existing posts that we either created through the ads manager or were on our page already driving to a website that we're actually plugging in those ads so it says those

[36:17] are boosted posts the best place to go to learn about that especially update information is a company called add skills by again Justin Brooke and John Belcher tremendous amount of information about this they have a great Facebook course and a great YouTube course too if you're more interested in the video side of things I'm not affiliated with them but highly recommend their products all right we have time for one more question cool thanks for a great talk I loved your quote about if you can't profitably acquire a customer then you just have an opportunity not a business and so much of that depends on the LTV

[36:47] the lifetime value of the customer and since many of us are building new businesses may not have a grip on what that LTV is you have any advice about how to think about LTV and figuring that out at the outset of the process I mean even when you're starting off because what's your product priced at currently - what's your product priced at couple hundred hours each okay so you can kind of give some gun information about that - and also will depend on how much cash you have and your risk tolerance I kind of some people who buy customers knowing they're gonna be break-even point at

[37:22] over a year I don't like that I want to break even basically on my customer acquisition in 60 to 90 days the more you can push that out obviously the faster you can grow he can if he who can spend the most to acquire a customer wins so the more you're willing to do that but obviously a bootstrap it's tough to spend that especially when your acquisition cost is a couple hundred dollars so going on it's slow starting off we're say okay I know I'm willing to risk this because on average I know there's a more than three months so I'm willing to risk three months up

[37:47] front and treasure my CPA the cost per acquisition to get that started you

---

About this transcript
Read from YouTube's own caption track and laid out by ViewRank AI (https://viewrankai.com).
ViewRank AI finds the videos already beating a creator's own average on Instagram, TikTok and YouTube Shorts, transcribes them from the audio itself in more than 60 languages, and turns what worked into new ideas and scripts.
Free transcript tools, no account needed: https://viewrankai.com/tools
How to read any video this way: https://viewrankai.com/llms.txt