Marketing Advice from 13 Years of Experience

Introduction

• Speaker: Experienced marketer with 13 years in the field.
• Built and sold nine companies, last one for $46.2 million.
• Author of two bestselling marketing books (over 1 million copies sold).

Key Marketing Advice

1. Start with Low Prices or Free

• Reasoning: Easier to increase prices later.
• Examples:
  • Online Personal Training: Offered training in exchange for donations to charity.
  • Gym Launch: Provided services for free to gyms, resulting in a successful business model with over 5,000 licensed locations.
  • Software Company: Gained testimonials and case studies by offering free trials.
• Four benefits:
  1. Free customers can convert to paying customers.
  2. They refer new customers.
  3. They provide testimonials.
  4. Gathering feedback for improvement.
• Tactical Steps: Incrementally increase prices after gathering initial case studies.

2. Focus on Volume Over Perfection

• More is Better: Increase content and ad volume to find what works.
• Example: Comparison of posting frequency on social media and its correlation with engagement and results.
• Paid Advertising: Outbid competitors for ad space to gain customers.

3. Optimize Advertising from Front to Back

• Focus on Headlines: The importance of crafting compelling headlines.
• Example: Re-recording ads with different hooks to improve conversion.
• 80/20 Rule: Put 80% of your effort into the first few seconds of content.

4. LTV to CAC Ratio

• Key Metric: Lifetime Value (LTV) to Customer Acquisition Cost (CAC) is crucial for scaling.
• Story: Example of a bow manufacturing business showcasing the significance of tracking these metrics.
• Ideal Ratio: Aim for at least 3:1.

5. Ad Creation Process

• Data Collection: Gather inspiring ads for reference.
• Hook Creation: Write 50 hooks—40 tried-and-true, 10 new ideas.
• Collidoscope Process: Update winning ads with different elements for increased engagement.

6. Four Ways to Let People Know About Your Business

• Categories:
  1. One-to-one conversations with known customers.
  2. One-to-one with strangers.
  3. One-to-many with known audiences.
  4. One-to-many with strangers (advertising).

7. The Importance of Tracking Results

• Measurement as Intervention: Track results to improve performance and effectiveness.
• Compelling Stats: Use data to substantiate claims.

8. Unique Selling Proposition

• Differentiate: Say and show what only you can.
• Outcome Focus: Share success stories and testimonials to establish credibility.

9. Expanding Markets

• Five Ways to Expand:
  1. Up Market: Target higher-value customers.
  2. Down Market: Target lower-value customers.
  3. Adjacent Markets: Related businesses.
  4. Narrower Focus: Specialization in a niche.
  5. Broader Market: Expand to new customer segments.

10. Provide Value

• Value Equation: Consider dream outcome, perceived likelihood of achievement, time delay, and effort/sacrifice.

11. Give Away Secrets, Sell Implementation

• Strategy: Offer valuable content for free while charging for hands-on help or implementation.
• Example: Case studies and cheat sheets can enhance reputation and attract potential customers.

12. All Advertising Works

• Core Message: It’s about efficiency and making relevant offers to the right audience.

13. Reminder Over Teaching

• Conclusion: People need to be reminded of concepts more than taught new ones.
• Example: The cyclical nature of content consumption and the importance of repetition.