Podcast Summary
Challenging the status quo and effective marketing strategies for growth: Effective marketing strategies, when implemented with testing and measurement, can significantly increase a business's reach and revenue.
Being a disruptive entrepreneur means challenging the status quo and embracing new ways to solve problems, while also striving for profitability. However, many business owners are content with their current state and rely solely on word-of-mouth business. This mindset may save money in the short term, but it also limits growth potential. Effective marketing strategies, when implemented with testing and measurement, can significantly increase a business's reach and revenue. It's crucial to understand that half of marketing efforts may work, but without tracking and measuring results, it's impossible to know which half. Both overspending on advertising without proper tracking and relying solely on word-of-mouth can hinder a business's growth. Instead, always be marketing and always be testing to maximize potential.
Adopt an 'always be testing' mindset for marketing optimization: Regularly invest in testing marketing elements, focus on marketing and branding, and leverage social media platforms like LinkedIn and Instagram for business growth
In business, particularly marketing, it's essential to adopt an "always be testing" (ABT) mindset instead of the traditional "always be closing" (ABC) approach in sales. This means investing a small amount of money regularly into testing various marketing elements, such as copy, ads, landing pages, and email autoresponders, to optimize conversions. Social media platforms, especially LinkedIn, offer free marketing opportunities with vast reach potential. By focusing on marketing and branding instead of just being the best in your industry, you can attract more business. For instance, being the best advertiser and marketer in a wrapping business may lead to 500% more business than being technically superior. Therefore, leveraging platforms like LinkedIn and Instagram can significantly expand your reach and customer base.
Expand marketing efforts beyond industry norms: Marketing success depends on reaching potential customers effectively. Don't limit yourself to traditional channels; explore various platforms to add value and attract customers.
As a professional, it's essential to expand your marketing efforts beyond what's commonly used in your industry. The success of marketing isn't solely dependent on the quality of your product or service but also on effectively reaching potential customers. Many businesses focus too much on their product and neglect marketing, fearing criticism or appearing pushy. However, marketing is a crucial aspect of business, and being prolific with content and consistent in your outreach can lead to increased sales. Don't limit yourself to traditional marketing channels; explore various platforms like LinkedIn, Instagram, Snapchat, Facebook groups, and Patreon. By broadening your marketing horizons and consistently adding value to your audience, you'll increase your chances of attracting and converting potential customers.
Building relationships through marketing: Effective marketing involves creating a strong online presence, sharing experiences, building trust, and diversifying lead sources to mitigate risks and create multiple revenue streams.
Effective marketing goes beyond just pitching and involves building trust and sharing stories. Establishing a strong online presence through consistent content creation can lead to easier sales and increased trust. Bragging about results and sharing experiences, especially during challenging times, is essential for credibility. Diversifying lead sources is crucial to mitigate risks, as relying on a single source can leave businesses vulnerable. In essence, marketing is about building relationships, sharing knowledge, and creating multiple revenue streams.
Diversifying Lead Sources for Business Growth: Test new marketing platforms, media, and sales methods to expand your reach and increase potential sales. Aim to test 3-5 new marketing channels annually and scale up once conversion environment is built.
Diversifying your sources of leads is crucial for business growth, especially in today's competitive marketing landscape. The speaker shared his experience of generating leads from various channels like Instagram, LinkedIn, Facebook, and emailing his database for a new Forex Marketing Mastermind campaign. He emphasized that relying on a single source could limit the number of leads and potential sales. Therefore, testing new advertising platforms, media, and sales methods like webinars, telesales, and live streams is essential. The speaker also suggested setting a target for testing 3 to 5 new marketing platforms each year and scaling up once the conversion environment is built. He encouraged business owners to step up their marketing efforts, even if they have a great product or service, but are not effective marketers. By testing new strategies and partnerships, businesses can find what works best for them and stay ahead of the competition.
Being seen is crucial for success: Push out of comfort zones to increase visibility and exist and thrive in your field, or miss out on potential success
Visibility is crucial for credibility and success. The speaker, despite being self-deprecating, emphasizes the importance of being seen in order to be perceived as the best. It's not just about being the best, but about being seen as the best. The speaker encourages listeners to push themselves out of their comfort zones and increase their visibility. He also teases upcoming guests on his podcast, some of whom are disruptive individuals, successful but lesser-known figures, and big names. By being seen, one can exist and thrive in their field. Missing opportunities to be seen can result in missing out on potential success.
