# Marketing Lessons That Made Me MILLIONS

Channel: Ben Heath
Video: https://www.youtube.com/watch?v=v2nMJIw1VjM
Duration: 14 min
Language: English
Words: 3072
Transcript page: https://viewrankai.com/tools/youtube-transcript/v2nMJIw1VjM

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[0:00] 11 marketing lessons it took me years to figure out and that I seriously wish I had known earlier the first one is that you don't need to reinvent a wheel a lot of people want to work it out but you can absolutely start by modeling from the people that you want to emulate so let's say there's someone that is the exact position that you would really love to be in in three to five years time well you can take a look a very close look at what they're doing and massively shortcut your learning process by emulating some of the stuff that they're doing now you don't want to copy

[0:29] their wording their content word for word for example let's say you really admire what someone's done on LinkedIn they've built a following there if you did the same things it would do great things for your business now you don't want to copy exactly what they're saying in post you don't want to re-record versions of their videos but you can take a look at how often they're posting what style of video they're using is it animation is it face to camera how long are their videos all those little details you can absolutely model from likewise if you're running Facebook ads for example you don't want to just go

[0:58] ahead and copy someone else's is AD but you can absolutely take a look at the offer that they're using are they using buy one get one free what format are they using is it a carousel or a slideshow now you can use those elements to save yourself enormous amounts of time it might have taken someone eight years to work out that you should post 16 times a week three times on Thursdays for example but you can just see that that's what they're doing and model that structure and you save eight years now once you've done that successfully you might find that you actually surpass the people that you initially modeled from

[1:28] I've done that a few times when I first started creating Facebook ads related content on YouTube I modeled from another YouTube channel and I now have a far larger audience in the Facebook ad space on YouTube than they did I did the exact same with my Facebook group I started out modeling from someone else who had a Facebook group in the Facebook ad space I now have the largest Facebook group in the Facebook ad space in the world so it doesn't mean that you can never surpass them you can start by modeling from what they've learned and then put your own take own flavor innovate once you're up and running and

[1:57] you've got momentum second lesson is that one acquisition Channel done really really well is way better than a whole bunch of channels done okay you have to think about how the internet works and how content distribution functions with the technology that we have because everyone can access the same information the same pieces of content it means that one person or just a group of people can be the expert for the entire world Let me Give an example I have one of the largest YouTube channels concerning Facebook advertising in the world and me and perhaps eight or nine other YouTube channels that cover content to do with

[2:35] Facebook ads get nearly all the views what that means is that it really pays to be in that absolute top point zero one percent or whatever it happens to be for your industry and that's so much more important than being kind of okay across all the platforms you get much greater rewards for example being a 9 out of 10 on One platform in my case it could be YouTube then say dropping down my focus on my YouTube channel putting more Focus onto LinkedIn Twitter other places and being say a six out of 10 across the board much better to be more focused lesson number three is that

[3:08] content is the hardest part of digital marketing and that's where most of your time effort and potentially budget should go now this applies to both paid and organic there are tons of Facebook advertisers for example spending nearly all their marketing Budget on the actual ads themselves and if they took say 10 of their monthly ad budget and dedicated that to creating much higher quality creative whether that's hiring videographers or photographers or editors or whatever it happens to be to produce better stuff that is put in front of your prospects I'm pretty convinced that the vast majority of them would see better results the same can apply to organic most people focus

[3:44] almost exclusively on the distribution and actually if they put more time effort and budget into the creation and improving quality that would be time and money well spent lesson number four is that influencers are cheat codes again this applies to both paid and organic digital marketing with paid hire an industry specific influencer get them to do a review of your product get them to record a little video ad for you and it will almost certainly do so much better than the stuff that you're regularly running of course we all know that on the organic side of things this absolutely applies being able to leverage other people's personal Brands

[4:21] to give your product service whatever it is credibility is just such a game changer whenever I'm talking to someone who's looking to improve their marketing by let's say a hundred percent they need better results and they're currently getting by double influences is nearly always something we're going to add into the mix next is that direct response marketing is for this year brand marketing is for the rest of your life it's very common for these two camps direct response brand to sort of fight against each other [Music] and a lot of us that started in the direct response world I certainly did we sort of looked down on the businesses

[4:59] focusing on building their brand we look at the big companies running ad campaigns that are all brand related thinking what a waste of money if they only did direct response they get much better results and that's simply not true it's not that one's better than the other it's that both are very important in different circumstances so direct response director offer campaigns on Facebook for example and that get people to take specific action right now based on the information they've seen is really important because that helps you as a business keep the lights on pay employees function grow all that sort of stuff but the biggest rewards really

[5:31] come from the brand building over many years even decades just think about the Billion Dollar Plus companies that you're aware of there are some but not many that have done it with direct response the vast vast majority of those do it with brand so you absolutely want to be focused on both direct response for now brand for later lesson number six is that they come comes a point where you always have to trade profitability for scale as you grow you will reduce in profitability and there's a few reasons for that firstly as you spend more and more and say paid ads or organic content distribution you are

[6:07] going to be putting your stuff in front of people that are not quite as Keen as the people that originally saw your stuff let's imagine you've got a target audience and you're running an Instagram ad campaign right the very first few dollars that are spent are going to be on people that just need to glance at your ad they love it they go ahead and buy immediately because it's exactly what they've always dreamed of that I love I absolutely love those are the right at the beginning but there's not many of those people so as you spend more you move from those super super Keen beans to people that are still Keen

[6:39] but need a bit more convincing maybe they need to see an ad a couple times and then you use up all of those eventually and then you go into the next stage which are people that are somewhat Keen need quite a bit of convincing don't really see the advantage of buying from you as opposed to your competitors okay and then eventually you use those out and then you move on to the next people that are not really that Keen maybe kind of need your product or service we'll get to it eventually now they need a lot more convincing now of course it costs a lot more to get each

[7:05] one of those groupings of people to purchase than the previous one it you might see a cost per purchase of ten dollars with that first group it might be twenty dollars for the second group forty dollars with the third group a hundred and eighty dollars with the fourth group and then so on it carries on going so what you need to decide at some point is do I actually want to continue scaling or am I just happy sat at this level whilst we're nice and profitable I've worked a lot businesses that have gone from say 10 million a year in Revenue 4 million a year in

[7:34] ebitda [Music] they've looked at Double their revenue and have done successfully they've gone from 10 million to 20 million but then they get their year-end accounts in and realize they're at 4 million profit again so they doubled the size of the business from a revenue standpoint and ended up making the exact same amount of money why well it's partly that process that just discussed where it costs more to reach those newer less engaged people either on the paid side of things or if you're pushing pushing pushing content organically but also you've now got more organizational complexity you've got more staff to help fulfill the orders to

[8:08] provide the service and there's more complexity that comes up there's more customer service issues I'd like to speak to your manager I'd like to speak to your mother costs are going to increase now it doesn't mean you can't scale to really high levels it's just something to be aware of okay am I willing to sacrifice some profitability here in order to achieve scale maybe but maybe not lesson seven is an obvious one but it's one that I see people falling foul of all the time and that's it doesn't matter how good your marketing is you can't sell something that there is not significant can demand for

[8:39] everyone just assumes that there is demand for their product or service so their offer is good enough to sell and often it isn't I mean you're not wrong but you didn't have to say it it doesn't matter how much time you put into your YouTube channel or your Google ad campaign it's not going to sell if you're putting all your time and effort into the the marketing almost the wrapper of the product or service and the product or service isn't so good that people really want it they want to tell people about it once they buy it you're probably not putting your time and effort into the most valuable place

[9:13] which would be improving on the deliverable first and that leads me on to my next point which is if you can Market a product or service that is so good that the people that purchase it feel compelled to tell other people about it that is an absolute Game Changer often when it comes to marketing hiku can afford to pay the most to acquire a customer wins now let's say we have the same business we sell the same product we can both both afford twenty dollars cost per purchase but what happens if my product's so good that each person that purchase it feels compelled to tell to other people about

[9:46] it well that means that instead of paying 20 per purchase I can now pay sixty dollars per purchase because I know each purchase comes with two additional referred purchases they aren't that common these products and services that are so good people feel compelled to tell others about it but they make all the difference to your marketing efforts I mean you can put so much more time and effort in on the front end to get a customer you can also afford to charge higher prices all great things come with having a product service that good lesson nine is that you probably don't have all the answers I think marketers are particularly bad

[10:18] for this they'll watch a YouTube video they'll read a blog post they'll get one or two things learn those out of a whole marketing machine and just assume that they got it and they know everything and that makes them very close-minded it means that when they consume some more content or hear other opinions about different ways of doing things different strategies different techniques they go oh no that doesn't work I know it works because I already consumed some content on this that leads to a massive missed opportunity if you're closed off to the potential of the new thing you could miss out on something that could

[10:49] potentially be a breakthrough now it doesn't mean that every new thing is going to work for you but you should be open to testing with nearly all digital marketing testing is actually very quick and easy to do if someone's recommending a different Facebook ad campaign structure or a different format for your LinkedIn posting it's quite easy to adjust that okay let's run this experiment for a few days and see if it works or not you can always go back it's really important to not think you have all the answers and be closed off much better to go into situations to do with any sort of digital marketing

[11:21] related techniques strategy Etc and go I'm not sure I've got the best strategy currently I'm very willing to test and open to new ideas a lot of digital marketing can get really complex and I think whenever it does and you find yourself sort of getting lost in the weeds it's really good to bring everything back and realize that marketing is just really three things it's grabbing people's attention in the first place it's then holding that attention long enough to be able to tell them about the stuff that you offer and then thirdly it's convincing those people to take action that's it now which one of those two things is hardest

[11:54] and which one you need to put most effort into and get right depends on what form of marketing you're doing for example if you're running an Instagram ad getting people's attention in the first place really easy you're just paying for it holding their attention long enough to tell them about your thing well provided your ad is fairly clear self-explanatory people can glance I don't understand it that's quite easy as well convincing them to take action that's the hard part on a platform like that because they see lots of ads there's probably lots of competitors selling the same thing so that's the hard part whereas if you're cold calling

[12:22] for example getting someone's attention is also pretty easy but holding their attention long enough to tell them about what you offer that's the really hard part because as soon as someone realizes cold call they want to put the phone down so the focus needs to shift depending on what platform what strategy Etc but really it only ever boils down to those three things and that can help take you back to First principle thinking and when you get lost in the weeds and feeling overwhelmed like there's too much complexity I find that really helps and lesson number 11 that I always keep reminding myself is that you

[12:51] can buy highly valuable marketing skills very easily I mean compare what it costs to acquire a marketing skill in comparison to higher education and the the return the difference in the return you'll get from that marketing skill is just absolutely phenomenal you can start with tons of free content I've got a whole YouTube channel many other people's do have tons of free content on YouTube other platforms so you can learn some really really valuable monetizable skills you can also go a step further and purchase courses again in comparison to any higher education or even many other courses related to professional qualifications they're going to be pretty cheap for a couple Grand you can

[13:27] really get your hands on fantastic information that's a sync that's put together that helps you learn what you need to learn in order to get the results you want to get my Facebook ads and science course for example would be a great example you could also go a step further and simply hire people on a Consulting basis to train you on how to do certain things I do this all the time it's where a lot of my time goes and it is way less expensive than you might think again in comparison to other forms of education and absolute bargain and with that third option you can massively

[13:57] shorten the time frame it takes you to go from I don't know how to do this to I know how to do this well and get it generating results for me consistently and shortening the time between A and B There is a game changer when it comes to results over the long run so armed with these lessons hopefully that will massively speed up your journey to success as a marketer I'd also strongly recommend you check out this video where I show you how to become a 100 million dollar marketer I've got a five level system I explain what each of the level means how you move from one to the next

[14:26] I think you find it very interesting

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