Transcript for: Omnichannel Marketing Lecture by Neil Patel
You want to go after the channels that are the most effective, and easiest to implement. For example, one of my
favorite approaches SEO, but SEO is very hard to do. So you may want to start with things like, email before SEO. (upbeat instrumental music) All right, so today, we're going to be breaking down how to win the omnichannel race, and we're going to break down the future of digital marketing. So let's get started. My name's Neil Patel. I'm the co-founder of a ad agency called NP Digital. We have offices all around the world, including Brazil, like
in South Paulo and Belo. We work with companies of all sizes. Have a lot of awards. The reason for me to tell
you this isn't to brag, it's more so to tell you that, we wouldn't be able to
work with these clients. We wouldn't have gone these awards if the tactics and strategies didn't work. So when I break them down today, just keep in mind, these strategies and tactics are proven and they work. We use them on our own business, and we were able to be, we were able to be the 21st fastest growing company in the United States using
omnichannel marketing. So when you think about
omnichannel marketing, a lot of people just
think about social media. We use social media. We have followers everywhere, but more than just social media we have a podcast with over a million listeners a month. We have a website with millions of listener or readers a month. We have a email list with around 1.3 million people. This is omnichannel marketing. We're not relying on one channel. So let's talk about the rise of omnichannel marketing. First off, it's like a orchestra. For omnichannel marketing to work, think of it as... For omnichannel to work, think of it as a symphony. (chuckles) Much better now. In which everyone has
to be playing together, and it has to work extremely well. From the conductor to the violinist to the person playing the flute, it all works as one. Most companies don't run
omnichannel marketing like a orchestra or symphony. They run each channel independently, and that's when you have upset customers. Instagram is not its own channel. Facebook is not its own channel. Google is not its own channel. They need to all be working together. When you have them all work together, and you create a congruent experience, you're going to have happy customers. Here's an interesting stat from Google. 90% of consumers use multiple devices to complete a single task, such as researching a product or making a purchase. That means the majority of people out there are... The majority of people out there are using multiple devices, and multiple channels to make a purchase. You got to learn from Nike. Nike has amazing experience, whether you're using
a app or their website or you're going in-person, they're leveraging omnichannel, and they're using all these channels to work with each other to create amazing experience. When you do this, you'll find that you're
going to get fewer refunds. The more your channels work together, the happier people are going to be, and your refunds will go down, and this is from Gartner. The big thing that we're seeing companies
make a mistake on is, they're overestimating
the impact of omnichannel, and underestimating the complexity. Yes, it can provide a big impact, but it takes a lot of work, and these channels have to work together. The first thing you need to understand is, your audience and their needs. Look, followers are not your audience. The more followers you have, doesn't mean you're going to succeed. You got to get the
right type of followers. For example, if on my Instagram, I talk about lessons my mom taught me that I wish I knew right now, no one would hire me. We work with big brands and enterprises here in Brazil and around the world. Talking about what my mom taught me when I was five years old, may get a lot of views and followers, but it's not going to
generate a lot of revenue. So to win the right type of audience, you got to pay attention, and keep in mind, all attention is earned. There's only 24 hours in a day, 1,440 minutes and 86,000 seconds. You got to earn that attention, and you're competing, not just with your competition, but you're competing with
other people out there. You're competing with people sleeping. People eating. People taking time to hang
out with their family. These are all areas that
you're competing with. So you need to make
sure that your marketing is creating time. And here's how we create
time at our ad agency, NP Digital. So we help companies get more traffic through marketing. And one thing that we
do is we bought a tool for $120,000 years and years ago. We put it around three to 5 million into the tool, but the tool teaches people how to get more traffic to the website in less than 60 seconds. You see how that's creating time? I'm providing a tool that gives them the solution quicker. And when we look at that, it's helped us continually get more and more traffic. We kept adding more features to the tool, like showing people their competition, and how to get more traffic, and what's wrong with their website. And over five years, we generated 36 million users. Then we did the same thing again. And keep in mind when I go back here, this tool accounts for 40% of our revenue. It comes from the tool. Our customers, 40% of our customers came from the tool 'cuz we helped them create time. We did the same thing again with another tool called
Answer the Public. We bought it for $8.6
million last February. And what we ended up doing
is the same approach. We helped companies get more traffic in shorter time, and it it ended up generating, 18 million users over five years. So with omnichannel marketing, it's not just about creating time, you also need to create
amazing brand experience across all your channels. One of the ways to do
that is through loyalty. Loyalty is a function of memory, and this is a quote from Colin Shaw. And the way you create amazing loyalty is through the peak end rule. When someone first uses your product, and when they stop using your product, that is how they remember you. You want to create amazing peaks. If they have bad experiences, you're going to have a terrible peak. So for example, when you want to learn how to ride a bike, you may fall. That creates bad memories. But once someone learns how to ride, and their hair goes flowing in the air, and they're going fast, that creates amazing memory. And then as they grow up, and they get go to all
these different places because they can ride their bike, and they don't need their parents, it creates another amazing memory. So when you're following this rule, people have this misconception, especially here in Brazil, we see a lot of companies say, "Oh, to create amazing
brand and experience, and follow the peak end, well, we need to offer discounts." If you have amazing quality product, you do not need to offer discounts. Look at Apple. Apple sells. A lot of people I know
in Brazil have iPhones, even people here in the audience. Why? They don't offer discounts is because their products are amazing. When you think about
omnichannel marketing, people have changed the way they shop. They're using multiple devices like what Google stated earlier, but have you changed
the way that you sell? People need longer research windows. According to HubSpot, people spend on average 13 days researching before they buy. The way to make this happen is, by being omnichannel. You got to leverage email, website, social media, SEO. All the channels. Push notifications. So then that way you can
educate and help people throughout those 13 days before they end up purchasing. And here's a list of the channels that are the most effective, and how hard they are to implement. You want to go after the channels that are the most effective, and easiest to implement. For example, one of my favorite approaches is SEO, but SEO is very hard to do. So you may want to start with things like, email before SEO, and when you at your traffic, the way you know you're going to do well in omnichannel is a split of traffic. If you have too much
traffic coming from organic, that's bad. If you have too much coming from paid, that's bad. It needs to be a good balance. For branded versus non-branded. It needs to be a good mix. If 50 plus percent of your traffic is coming from branded, that's not good. You're not leveraging omnichannel. No more than 30% of your traffic should be coming from branded terms. (machine chimes) We're also seeing a decrease or a delayed in spending. According to PWC, they found that 58% of consumers are spending less on non-essential items during this bad economy. And a survey from Nielsen found that 51% of consumers are eating more at home to save money. So in this bad economy, people are delaying purchases, but that doesn't mean that you can't generate sales. You just have to be more creative with your marketing. For example, a lot of supermarkets, and retail stores are starting to put coupons on the receipts. It's a great way to generate sales, and get people to come back, and buy from you again. We're also seeing a shift on how people are buying. A lot of people have found a product in a physical store and then bought online or found a product on a website, but then went in-person to buy. In essence, there's a huge shift to omni shopping, not just omnichannel, but omni shopping. People may buy from social media. They may buy from your website. They may buy from your retail store. They may buy from Amazon. The list is never ending. But one way to generate
a lot of sales right now that a lot of people aren't using, but this is super
effective around the world, and especially here in
Brazil, is going live. Going live to promoted product or service works really well, especially if you offer discounts. We're seeing shoppable live streams can increase conversion rates by up to 20% according to big commerce. Right now in this
landscape, there's a pivot. People are going from
spontaneous purchases, to intentional shopping. To choosing a channel, to wanting companies to be the channel. To being loyal to brands, to more so being loyal to the experience. If you don't create amazing experience, you're going to lose. So let's talk about some lessons that you can learn from some of the top omnichannel
companies out there. Disney. When you look at Disney, they create a seamless experience from the app that you have. When you go to Disneyland or Disney World to the website. To their social platforms, they're personalizing everything to you, even the experience they're creating when they're creating those movies, whether it's the Marvel movie to the rides that they're creating at their theme parks
that are Marvel-related. Bank of America is a bank within the United States. They're using omnichannel to figure out where people are getting stuck, and what new product offerings and services to offer them to create a better experience. This is amazing experience that they've done over time, which has helped them continually grow as a company. I think they're worth now, two, $300 billion. Timberland is a retail company. This one's really interesting. So when you go to a store right now, sometimes you have to
ask someone for help. Timberland is using near-field technology to figure out how they
can help you in the store. So you no longer have
to ask people questions. And Sephora. Sephora is a makeup company. They have retail stores throughout the United States, and what they're doing
is using omnichannel to tie in online visits to in-store purchases to create that congruent experience. So let's talk about some quick omnichannel tricks. The first is YouTube. YouTube is the second
most popular search engine behind Google. Funny enough, YouTube
is also owned by Google. So they own the most
popular search engine. The second most popular search engine. The way you do well on YouTube is in the first 24 hours of a video going live, you email it out. You promote it. You tell all your friends about it. A video that does well
in the first 24 hours on YouTube will rank high, get more traffic and get more suggested. It's the opposite of
most social platforms, and search algorithms. YouTube is all about the first 24 hours. And if you do well in the first 24 hours, you'll do well even 3, 4, 6 months later down the road. Then we have LinkedIn. According to Omnicore Agency, "Less than 1% of LinkedIn users create and share content." But creating content on
LinkedIn isn't enough. What you need to do if you want to do well with LinkedIn is, you got to create engaging comments. So if your content
isn't encouraging others to create comments, you're
not going to do well. These comments can't be yes or no. They can't be, I agree or I disagree. Their comments have to
add to the conversation. If the comments create more comments, and other people engaging, that's how you go viral on LinkedIn. The key is to get people to leave comments within the first four hours of your LinkedIn post going live. Now with Google, Google
cares about brands. They know that brands are less likely to create fake news, and fake information. So the way you create a brand is, you can create tools. Okay, so just like on our website, we had that marketing
tool called Ubersuggest. Another one called Answer the Public. You can create these tools on sites like Code Canyon, and buy them for $10, $20, $30. Or you can use ChatGPT to create tools. ChatGPT created the video game Pong in less than 60 seconds, and I'll show you that in a bit. When you create free tools, and you give them away, it'll cause more people to continually come back to your website, and you'll build a more loyal brand. You also want to build a community. People need a sense of belonging. We love community. Just look at in Brazil, one of your biggest communities is a soccer community
or football community. Look at how many people
in Brazil love Neymar. I was here for the World Cup. When the World Cup happens in Brazil, everything shuts down. No one is in work. Everyone's at a bar drinking some alcohol and watching Neymar try to score a goal. That's a sense of community. You want to do this through email lists. And what we do is, you give away free tools, and then when people use your tools, you can then ask them
for their email address in exchange to keep
using your tool for free. And when I mentioned
sites like Code Canyon or Chat GPT, there's tools on these sites for every industry whether you're in real estate or automotive or fitness or B2B or B2C, it doesn't matter. They have tools for you. Look, omnichannel is no longer a buzzword, it's a necessity. Now it's your turn to leverage omnichannel marketing. My last word of advice to you guys is, if you want to use omnichannel marketing, and do it successfully, you cannot just hire one person to say, Hey, you're in charge of Instagram, and this other person is
in charge of Facebook, and this other person is in charge of SEO, and this other person
is in charge of email. They need to work together as a team. The learnings you get from Instagram, you need to adapt them to Facebook, and SEO and your podcasts. The learnings you get from your paid ads, you need to adopt it to
TikTok and Instagram, and other social platforms and even SEO. If all your channels are working together, you're doing promotions with all your channels together. You're going to create a
much better experience. You'll get more sales, and you'll get less refunds. There was a company that we work with called Expedia, and Expedia has a company in Brazil, and Latin America called Travago. Have you ever heard of Travago? And they did this study, and they found that when they did omnichannel marketing even though people already knew the brand, and they leveraged radio and TV, and social media and SEO, they got more than 10% more conversions. That's the power of omnichannel marketing.