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17 Years of Marketing Advice in 46 Mins — Transcript

by Sabri Suby · 8,238 words · 1,197 segments · language en · Watch on YouTube

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0:00So, if there's one thing that I'm good
0:02at, it is marketing. I have got
0:04thousands of clients. I've generated
0:06those clients over 7.8 billion dollars
0:08in sales. I've gotten these results in
0:10over 1,067 different niches for clients
0:13that are in 136 different countries
0:16around the world. I've got 100 team
0:18members in my agency, and I'm also an
0:20investor on Shark Tank. Today, what I'm
0:22going to be doing is just giving you
0:24everything that I've learned along my
0:26journey. All the mistakes that I've paid
0:28for in full so I can shortcut wherever
0:30you are on your learning curve
0:33on becoming a marketer. There is no way
0:36that you cannot watch this video, and if
0:38you take notes and actually implement
0:40the stuff that I'm going to tell you for
0:42you not to make way more money than what
0:44you're making right now. So, what is
0:46marketing? Marketing
0:48in general, I believe, is probably the
0:50most important and valuable skill that
0:52you can ever acquire because, regardless
0:54of the career that you choose or the
0:56different path that you walk down in
0:58your life, you're going to be faced in
1:00some way in either marketing a business
1:03or marketing yourself. And it is
1:04fundamentally a skill that can change
1:07the trajectory of your life like no
1:09other. Marketing is the activity of
1:13promoting and selling products and
1:16services. But, more importantly than
1:17that, it's also in not only attracting
1:21and getting clients but retaining them
1:22and then being able to deliver on your
1:24promises. Because all successful
1:26businesses are focused on not being in
1:28the order business but being in the
1:30reorder business. Do you want to be in a
1:32situation where your clients are worth
1:35more to you than any other person in
1:38your industry and your market?
1:40Therefore, you can spend the most to not
1:42only acquire those clients, but to also
1:45service those clients and have team
1:47members come in and help you service
1:48them and being able to have the funds to
1:51actually pay for them. This brings us to
1:53step number one, product versus
1:54marketing. There are so many people in
1:56the business world that sit in one camp
1:58that it's like it's just all about
1:59product. If you have a great product,
2:01then you're going to be able to go out
2:02there and crush anybody cuz the word's
2:04going to spread and everyone's going to
2:06come to you and then they're going to
2:07want to buy your thing. And then, you've
2:09got another school of thought that it's
2:11just like all you need is marketing.
2:13Like you just have like marketing and
2:15you can sell anything. I believe that
2:17both of these people are wrong. It's not
2:19about product or it's not about
2:21marketing, but it really is about both.
2:24Not all businesses are sexy. Just
2:26focusing only on product and thinking
2:28that that is the only thing is that you
2:30need is a lie. And I've seen so many
2:34businesses die because of this. They set
2:36up their business, they develop a logo,
2:38and then they just spend like a year or
2:412 years of their life perfecting their
2:43product or service. They launch their
2:46business and they never get any
2:48customers even though their product is
2:49great. They can never ever scale it
2:52because they're not marketing it, and
2:53then it just becomes this job. But, it's
2:55worse than a job for them because
2:57they're not getting paid holiday.
2:58Instead of working 40 hours a week,
3:00they're working 80 hours a week, and
3:02their life is just left like the scraps
3:05of what's left from their business. And
3:07then, you have the other angle where the
3:08marketer that goes out there and he has
3:11no
3:12emphasis on product and customer
3:14experience. He's got a shitty product
3:16that he's pouring gasoline on and it
3:18spreads and then the negative word of
3:20mouth spreads and then it's gone. And
3:22then, they're on to the next business.
3:23They just keep on launching new offers
3:25and new businesses and new markets
3:28because they don't have any emphasis on
3:30product. And realistically, if you look
3:32at the biggest businesses in the world,
3:35those businesses have an exceptional
3:37product that they market exceptionally
3:40well. You really need to get out of the
3:43mindset of it's just product or it's
3:45just marketing, which brings us to step
3:48number two, to sell something that the
3:50market is starving for. When I got
3:53started in my entrepreneurial career,
3:55started by selling water filters. And I
3:57had to learn a very hard lesson.
3:59Everyone in Australia at the time had
4:02the perception that it was completely
4:03fine to drink the tap water. So, I was
4:06entering into a market that people were
4:08not starving for the product. And
4:10instead of having a compelling offer
4:12that solves a burning problem, I was
4:15trying to have a convincing argument.
4:17And everything was like just pushing a
4:20ball up a hill and swimming against the
4:23raging current that was the river of the
4:26desires of my marketplace. When you're
4:28launching a business, you want to launch
4:30with a minimal viable product or a
4:33minimal viable offer. And that is just
4:36enough for it to be good enough for you
4:39to sell it. And you want to do that to
4:42test the appetite that there is in the
4:44marketplace. And then, only once you
4:47have proven that there is an appetite
4:49for what it is that you're selling, do
4:50you then want to go and develop the back
4:53end of the business. Most people, if you
4:55speak to them, they all have a business
4:57idea, right? Like everyone has a
4:59business idea and then they're like,
5:00"Oh, I can't do that because I saw
5:02somebody else had a business in that
5:04niche or I've seen that idea before."
5:07And they spend most of their life
5:09looking for a completely unique idea for
5:12the business that it is that they want
5:13to start. That is a horrible, horrible
5:16idea. You want to look for markets that
5:19there are lots of people in that niche,
5:21and it is competitive because that has
5:24proven that there is a need. And so, the
5:27most pivotal thing above everything when
5:29it comes to marketing is market
5:31selection. You can have the sexiest
5:33logo, the best team, the most dialed-in
5:36funnel. If you are in the wrong market,
5:40nothing else matters. And when it comes
5:43to product, the overarching advice that
5:46I can give anybody is to build a
5:49business that you would want to be a
5:52customer of. Third point is direct
5:54response versus brand. Direct response,
5:57if you don't know, is the format of
6:00advertising where you're putting out
6:01messages in front of a marketplace that
6:04elicits a direct response. Call this
6:07number, go to our website, click this
6:10button, become a lead, or buy something.
6:14Where you've got the brand world
6:16advertising to tell people that you
6:18exist, to reinforce a message,
6:22or a lifestyle that you are trying to
6:25depict. If you ask most people like,
6:27"What is the best brand in the world?"
6:29Apple is a brand that comes up in that
6:31conversation a lot. And what you'll find
6:33is that a lot of these brands, they all
6:36got their roots in direct response. Like
6:38Apple, they were cold calling computer
6:41dealers to get their computers stocked
6:43into those networks. And a lot of the
6:44things that they were doing in the
6:45beginning like were direct selling. It
6:48was direct response marketing.
6:50Throughout their evolution, they earned
6:52the right to become a brand. This is an
6:56argument that I see a lot online. People
6:59are talking about, "Hey, like it's all
7:00about hardcore direct response." Or they
7:03sit in the brand camp and that is the
7:05only thing that they think is important.
7:07The reality of it is, there is big
7:09businesses that have been created in
7:11both of those categories. You've got
7:12businesses like Guthy-Renker. They do 2
7:15billion dollars a year in sales. They
7:18are behind Tony Robbins, blew him up
7:21using infomercials. They've got like
7:23Proactiv. They've got brands with J.Lo.
7:26And they've been able to build a
7:27massive, monstrous business using direct
7:31response. You've got LVMH group that
7:34have Louis Vuitton. They've got Sephora.
7:36They've got a whole range of brands
7:39under their umbrella. Yet, these guys,
7:41they spend 16 billion dollars a year on
7:45advertising. I see so many people, they
7:48think it's all about brand and they'll
7:49sit down and they'll come up with these
7:52beautiful cut up color palettes and the
7:54typography and the sans serif and the
7:57logo and the brand mark and the website
8:00and all of this kind of stuff. They do
8:01not have a brand, most of these people.
8:04They have a logo. In order to have a
8:06brand, you need to have customers. The
8:08best place to start if you're getting
8:11out and you do not have huge amounts of
8:13venture capital is to start in direct
8:16response. Whether it's at local markets,
8:19it's cold calling people, it's local
8:21DMing people, it's you being the
8:23influencer and creating the organic
8:25TikTok content in the beginning. Only
8:27once you do that and you intimately
8:28understand your customer, you understand
8:30what's important to your market, will
8:32you understand how to actually build a
8:34brand. You're using direct response,
8:36you're making money, you're spending
8:37that money to make the product or
8:38service even better, you're building the
8:40brand, you're attracting the right
8:42people that can help you then go and
8:43build that brand even further, and that
8:45just accelerates and accelerates and
8:47accelerates. And then, you can focus on
8:49more brand building exercises of like,
8:52"What is important to us as a company?
8:55What do we stand for? What is the
8:57problem that we solve for the market?
8:59Who is the customer and what is
9:01important to them?" And you can start to
9:03spend money that emphasizes those things
9:07within your direct response marketing
9:10mix, and you can keep that going like a
9:12flywheel. And so, that is what I have
9:14seen from all the brands that I have
9:16worked with, which is all the way from
9:18small to mom-and-pop businesses all the
9:20way up to multi-billion dollar
9:23behemoths. Point number four is organic
9:27versus paid. Another two very defined
9:31groups of thought. Some people think,
9:33"Hey, you always have to be able to
9:35spend money to acquire a customer." And
9:37then, you've got one school of thought
9:39that it's like only focus on putting
9:41content out and getting customers
9:43organically and have that word of mouth
9:44spread. But, both of those are resources
9:47that you're paying with. One of them is
9:48you're using money, and the other one
9:50that you're using time. There is no such
9:52thing as free advertising. Organic is
9:55meant to be in a way where it sounds
9:57like it's free, but it's not. It costs
9:59money for me to have these cameras and
10:01videographers and lighting and mic and
10:03the time and energy that is required in
10:05order to produce that content as well.
10:08So, they all come with a cost. When I
10:11started, you know, I started in direct
10:12selling, I was cold calling businesses,
10:14I got a few clients, I got enough to
10:16start running some direct response style
10:18ads, and only after I was doing more
10:21than $10 million a year in revenue did I
10:23start doing all of this stuff and
10:25producing YouTube content and doing all
10:27of those things. I do believe that
10:29organic shows huge huge potential.
10:32That's why I'm spending the time and
10:33energy and doing what it is that I need
10:34to do, but I would not rely purely on
10:38organic to build my business. One of the
10:41things that has become more apparent
10:42with Instagram Reels and TikTok is that
10:46you want to use organic to feed the paid
10:50engine. So, it's a great way now that
10:52you can get distribution on these
10:54platforms without having huge follower
10:56bases for you to test hooks and for you
10:59to test messaging that works in your
11:02marketplace and then finding out what
11:04works organically and then turning that
11:07into an ad and then amplifying it. The
11:10customer journey is not like a funnel
11:13anymore. It's changed. The people that
11:15are going to maybe discover you from an
11:16ad, they're going to do a Google sniff
11:18test, go to your YouTube, watch two
11:20videos, then get retargeted on Facebook,
11:24download a high-value content offer or
11:26some type of opt-in or register for a
11:28webinar, watch that, go on your email
11:31list, get five emails, book in a call,
11:33and buy. One feeds the other. You want
11:36to have a combination of both. If you
11:38start with organic and there's no one
11:40looking at your stuff and that
11:42frustrates you and you stay there,
11:44that's ultimately going to kill your
11:46business. So, it's not either or, it's
11:48both. Point number five is storytelling.
11:50Storytelling, above all else when it
11:53comes to building businesses, brands,
11:56and going out there and getting lots of
11:57customers, is
11:59bar none
12:01the most highly leveraged skill that you
12:03can have. And a lot of people talk about
12:05storytelling, but then they don't really
12:08tell you like what are the steps that it
12:10is that you need to take in order to
12:12become a better storyteller. And that's
12:14what I'm going to do for you. And the
12:16best place to start is being a good
12:19writer
12:20and being able to clearly articulate
12:23what it is that you want to say.
12:25Because you've got a side of your
12:26business that's going to be the employer
12:28brand and wanting to attract team
12:31members into your business, where you're
12:32going to need to be able to very clearly
12:34articulate why it would be great to come
12:36and join your team. And then you've got
12:38the storytelling component of how do you
12:40actually tell compelling stories that
12:43get people to want to buy your things.
12:45So, the first thing to understand is
12:47that a good writer is a good thinker.
12:50They have clear thoughts. Because when
12:52you sit down to write something, by
12:54definition, you have to get clear of
12:56what it is that you want to write,
12:58whether it's a job ad or it's a Facebook
13:00ad or it's a landing page copy, you have
13:03to actually crystallize your thoughts
13:06and then write them down. You then want
13:08to think about the clarity of your
13:09writing.
13:11And a great app that I use that helps
13:13with this is the Hemingway app. Now, I
13:15have studied the New York Times
13:17best-seller list, the best YouTubers,
13:20the people that have been elected into
13:22the most powerful offices in the world,
13:25and the commonality that you will see in
13:28all of their forms of storytelling is
13:31that they write and speak at a
13:34sixth-grade reading level or below. And
13:37the reason for that is that you will not
13:40alienate people
13:42by having your message too clear to
13:44consume, but you will certainly alienate
13:46people by making it so verbose and over
13:50the top and hard to comprehend that
13:53people will stop paying attention to
13:55your message. The next part of
13:56storytelling is really in your
13:58communication style. So, communication
14:01is something that you need to create
14:03time in your week or in your schedule to
14:06become better at. Because you're going
14:08to be communicating until the day that
14:10you die and you're not only going to be
14:12getting the leverage in that within your
14:13business, you'll be getting that in all
14:15your relationships. Like anything, it's
14:17a skill that can be acquired and you
14:19need to practice it. The next thing when
14:20it comes to storytelling is hooks and
14:23framing. And a hook, by definition, is
14:26something that does just that. It hooks
14:28people.
14:29It is a statement that you can grab the
14:32attention of a group of people and make
14:35them pay attention to what it is that
14:38you've got to say. One good hook
14:41is worth more
14:43than a thousand of the most masterful
14:46crafted copy that exists. And you want
14:48to spend a disproportionate amount of
14:51your time on the hooks. Because if you
14:54can't hook somebody, it doesn't matter
14:57how good the rest of that piece of
14:58communication is. With this, you want to
15:01be a student of markets, you want to go
15:03on to TikTok, you want to go on to
15:04YouTube, you want to be going on
15:06Instagram Reels and having a look at the
15:08videos that get the most views and have
15:11a look at what it is that they're doing
15:14in those hooks. And the last point on
15:16storytelling is
15:18what you say is infinitely more
15:21important than how you say it. Most
15:24people spend the majority of their time
15:26finessing words on how they are saying a
15:30particular thing. When instead what you
15:32want to do is you want to focus on
15:34saying the right things in the first
15:37place. And the way that you do that is
15:39you look at customer service complaints,
15:42you look at reviews, you be in Facebook
15:44groups, you look at YouTube comments,
15:46and you really understand what that
15:48beating pulse is of your marketplace.
15:52So, that when you write words, they
15:54strike like lightning cuz they
15:56specifically talk to the pain points of
15:59your marketplace. Once you know that
16:01you're saying the right thing, then
16:04think about saying it in the the best
16:07way possible. Point number six, the very
16:10very first sale that you will make is
16:12the sale for somebody's attention. And
16:15we're living in a day and age where
16:17attention is a new form of currency. We
16:19all hear that all the time. You're no
16:20longer competing with Bob down the
16:22street that's in a similar business to
16:24you. You're competing with all the other
16:26alternatives that possibly exist for
16:28your prospect to spend their time and
16:29attention on. Netflix, Instagram,
16:32YouTube, everything is on the phone,
16:35right? And this thing is the arena
16:39that you must compete in to get people's
16:41attention. And if your stuff is boring
16:44and dull, then you are going to be dead
16:47on arrival. And if you look at what the
16:49biggest brands in the world are doing
16:51and how they stand out, I used to like
16:53look at them and think like like
16:56how is this going to sell anything? Like
16:58this this is this is the most outrageous
17:00ad. It has nothing to do with even
17:01selling the product in the first place.
17:04And the thing that I didn't understand
17:05at the time is the game that these guys
17:07were playing is that they were winning
17:09the first game, which is to get
17:11attention and to get people to consume
17:15the message in the first place. Is this
17:17piece of marketing communication, this
17:19ad, this video, this promo, this subject
17:22line,
17:23is it enough that it is worthy of my
17:26customer's attention and it is greater
17:28for them to consume than all the other
17:30alternatives that exist that are
17:32probably infinitely more entertaining
17:35than what it is that you've got to sell?
17:37And if you can't fundamentally answer
17:39that with a big resounding yes, then you
17:42have already pushing the boulder up the
17:45hill. And the thing that you can do to
17:47get the most amount of throughput in
17:50your whole funnel with everything that
17:52you do is just to increase consumption.
17:55And the best way to increase consumption
17:57is to by definition have something that
17:58is entertaining, to have strong hooks,
18:01and very good packaging to that content.
18:03Point number seven is building desire
18:06versus selling. Marketing's job is to
18:09make sales redundant. You should be
18:12building so much desire in your
18:15marketplace that people are already sold
18:19before you even ask them to buy. You
18:22build enough desire that people are
18:25coming to you and they're lining up
18:28asking for help for what it is that
18:30you're selling. Think about an Apple
18:32shop, right? You don't have to ever go
18:34into an Apple shop and the person there
18:35is like aggressively selling you a
18:37MacBook Pro. Like the people that are in
18:40an Apple shop, they're just order
18:42takers. They have earned that right.
18:44They have built enough desire by
18:46creating incredible products that solve
18:49pressing problems in the most elegant
18:51way that exists, they can charge a
18:54premium for doing so. And there's so
18:55much desire around that that people are
18:59literally, by definition, lined up out
19:02the front of their stores to buy their
19:05products at a premium. And that's a good
19:07telltale sign that they are absolute
19:10masters at not only creating an
19:13exceptional product, but they are also
19:16exceptional marketers. That is literally
19:19your job as a marketer to be
19:21articulating the pain points, showing
19:24them how your product solves them,
19:26agitating those pain points, and then
19:28presenting your offer as something that
19:30is truly unique and exciting and unlike
19:34anything that they've ever seen or heard
19:36about before. So, whenever you're in
19:38those situations and people aren't
19:41willingly handing over money, just
19:43understand that the reason that they're
19:46not doing it is because you simply
19:48aren't good enough yet and you haven't
19:51built enough desire in your marketplace.
19:53And you're either not marketing enough
19:56or the marketing isn't effective. Point
19:58number eight, pricing. Price is what you
20:01pay and value is what you get to quote
20:04Warren Buffett. And a transaction takes
20:06place where value exceeds price.
20:11And in business, you really want to get
20:13into a situation where you have way more
20:15demand than supply of what it is that
20:17you've got. And then you play with the
20:19price elasticity equilibrium. I.e. You
20:23figure out where on the demand curve do
20:26you need to price your product so that
20:28you can fulfill and you can able to
20:31actually meet the demand for what it is
20:33that you've got. And you have enough
20:36supply to meet that demand at the
20:38highest premium possible. Most people
20:40when it comes to pricing, they look at
20:42how much it costs to deliver that
20:45product or service and then they mark up
20:48a multiple of what they think is
20:50reasonable. This is the worst thing that
20:52you can do.
20:54Because a lot of the time when people do
20:56that, they never factor in all the other
20:58overheads that exist in order to acquire
21:01a customer. The ads, the sales team, the
21:03product innovation team, the packaging,
21:06inflation, all of those things. Instead,
21:09what you want to do is you want to
21:11prescribe a value
21:14to the problem that your product solves.
21:16And that is the thing that you want to
21:18think about what it would be worth to my
21:21customer in order to help them solve
21:24that problem. The more money that you
21:25make, the more that you can invest in
21:28your product and service. The more
21:29people that you can hire. The more
21:31innovation that you can spend on to
21:33solve that problem in a better way for
21:36more and more people. Which brings us to
21:38the next point, the chef versus the
21:41business builder.
21:43Most people, they start their business
21:45because they are the chef that loves
21:48cooking. They think, "Hey, I really love
21:50cooking. Why don't I start a catering
21:52business?" They think that their love
21:54for what it is is enough for them to
21:57build a business. And there's an
21:59underbelly to this. They are the person
22:01julienning the carrots and scrubbing the
22:03potatoes. They're also plating up the
22:06food. They're doing all the accounts.
22:08They're doing the tax returns. They're
22:10doing all the errands that need to be
22:12done within their business.
22:14And they end up overworked and underpaid
22:17for what it is that they're doing and
22:18the amount of stress that they're
22:19burdening from themselves. They get
22:21basically put at a fork in a road, which
22:23is do I continue doing what I'm doing
22:25right now, which is very very stressful,
22:27or do I hire people to help me come in
22:31and grow this business. And the problem
22:33is what got you here is not going to get
22:36you there. And the skills that you do of
22:39being on the tools and doing all of
22:41those things, you realize as you start
22:42to bring people into your business,
22:44like, "Hey, like I can't do this anymore
22:47if I want the business to grow." And I
22:48need to start focusing on things that
22:51actually move the money needle and bring
22:54enough cash into the business in order
22:56for me to hire people, to train people,
22:59to retain people, to lead people. And
23:02your skill set goes from being the
23:03practitioner to actually being the
23:06business builder that is responsible for
23:08growing this business. And they are two
23:10entirely different skill sets. There is
23:12like this place that I call Death
23:14Valley. And it's where you as the
23:16business owner are doing absolutely
23:18everything that is required in your
23:19business yourself. You're working very
23:21very long hours. You're very very
23:23stressed. Yeah, you're making good
23:25money, but you don't have any time to
23:27even spend that money or spend with your
23:29family or do any of those things because
23:32you're so busy doing all of this stuff.
23:34And then you're like, "Shit, this is not
23:37the reason I got into business. I got
23:38into business because it was going to be
23:40like lots of freedom and I'd be making
23:42more money and I might have location
23:44independence." But then you realize that
23:46that's not the case. And then you're
23:47like, "Oh, what do I do? Okay, I need to
23:48hire some people." All right, in order
23:51to hire people, I need to have enough
23:53money to hire those people. And then if
23:56I go and hire them and then I'm going to
23:58be spending all my time training those
24:00people, then who's going to be
24:02delivering for my clients? Like, how am
24:04I going to do that? And it's the chicken
24:05and the egg. It's a a cycle that I see
24:07all businesses have to go through and it
24:09is very character forming and you learn
24:12a lot about yourself and it becomes very
24:14very stressful and you need to
24:17understand that is typically a season or
24:19a chapter.
24:20And it's not going to be forever and you
24:21need to quickly get in and get out of
24:25that situation. And the way that you do
24:27that is focusing on the activities in
24:29your business that are revenue
24:31producing. What are the things that are
24:32going to ring the cash register, bring
24:34in customers so that you have enough
24:36funds to go and get higher people, build
24:38a team. And then as you build the team,
24:40they could become more competent, help
24:41you come in and run the business. And
24:43then you can focus more on the revenue
24:46producing activities. The better that
24:47you become as a marketer, the more
24:50highly leveraged tasks that you'll be
24:51working on. In the beginning, that might
24:53be the one-to-one interactions of
24:55getting customers and then it might be
24:57marketing and running ads and then it
24:59will be like, "Oh, you're focused on
25:01your employer brand." You always want to
25:04look at how much is a unit of time worth
25:07to you. Take the total amount of profit
25:10that you earn in a month or in a year
25:12and divide that by the number of hours
25:14that you work in a month or year. And
25:17you do not want to be doing anything
25:19that is below that hourly rate that you
25:21could then go out and hire somebody to
25:23do those things. Point number 10, take
25:26big swings. The more success that you
25:28get, the more money that you accrue, the
25:30more that you will have the ability to
25:32take big swings. And in the beginning,
25:35success is usually by taking lots of
25:37smaller swings that aren't going to put
25:39you out of business. But the more
25:41financial resources that you get is you
25:43want what others don't have, then you
25:45need to do what others don't do. And the
25:48best way to do that is to take big,
25:50violent, wild swings of something that
25:52no one else in your marketplace is
25:54doing, nothing else that you've ever
25:56done before. Those are the things that
25:58are really going to give you the most
26:00disproportionate results to what it is
26:02that you're doing. The more years that I
26:04get under my belt in business, the more
26:06I realize that the bigger swings that I
26:08take,
26:09the further that I can hit the ball.
26:11Point number 11, master one channel. In
26:14marketing, you've got demand capture and
26:17you've got demand generation. And you do
26:20not want to start by trying to master
26:23both of those things straight out of the
26:25gate.
26:26If there are people that are actively
26:28searching for what it is that you sell,
26:30the easiest path for you to go down is
26:32demand capture. I.e. Are people on
26:35Google actively looking for a solution
26:38to what it is that you provide? They are
26:39the easiest people to convert. You do
26:42not need to have crazy offers, hooks,
26:44and storytelling or anything to be able
26:46to convince those people to buy. They
26:48are customers that I call have a
26:49bleeding neck and they're looking for an
26:51immediate solution to that problem.
26:53Demand capture are where the millions
26:56are made. But demand generation are
26:59where the billions are made. And that is
27:01being able to go out into a marketplace
27:03and to generate demand, to be able to
27:05put out ads, offers, hooks, and stories
27:09that actually gets people to want what
27:13is that you've got. So think Facebook
27:15ads, YouTube ads. And this is the
27:17channel that unlocks the most violent
27:19scale in any business because you're not
27:21limited by the number of people that are
27:23specifically searching for what it is
27:25that you've got. It also requires a much
27:27greater level of skill because you need
27:29to take somebody that is not remotely
27:31even interested in what it is that
27:33you've got and you need to pique their
27:35interest in order to then provide a
27:36solution to what it is that you've got
27:39and actually get those people to buy.
27:41Which brings us to point number 12, the
27:43larger market formula. Basically, what
27:46it shows you is that in any given
27:48market, there are 3% of people that are
27:51looking to buy. They're the people that
27:53already know that they've got a problem.
27:55They're on Google. They're looking for
27:57solutions to their problems. Then you
27:59have a further 17% of the market.
28:02They're the guys that are in information
28:04gathering mode. They kind of out there
28:07seeking out information. They might not
28:08be looking to buy right now, but they're
28:10certainly thinking about it and they're
28:11they're open to it. Then you have a
28:13further 20% of the market that is
28:16problem aware. They know that they have
28:19a problem. They know that they need to
28:20lose weight. They need to buy a car.
28:22They need to meet a partner. But they're
28:24not actively out there seeking out
28:27information and looking to buy. And then
28:29you have 60% of the market that is not
28:33problem aware. And that's where it's
28:35your skill as a marketer in the demand
28:37generation to be able to go out to those
28:40people and to be able to get their
28:42attention, to hook them in, to keep them
28:45interested, to build enough desire in
28:48what it is that you've got, and then
28:50make them an offer and get them to buy.
28:52Once you master the skill in being able
28:54to do that, that is when you unlock a
28:57different level of geometric growth for
28:59your business. Step number 13, quick
29:01fast money versus big slow money. The
29:05longer your time horizon, the bigger the
29:09payoff is.
29:10And if you're focused on making as much
29:13money as you possibly can right now,
29:16then you are going to be leaving a huge
29:18amount of money on the table because
29:21you're not playing the long game. And
29:24longer games have fewer players in them.
29:27And you want to play in decades, not in
29:30years. But most people, they're just so
29:33impatient that they want that quick win.
29:36That they're just concerned only about
29:38how much money that they're going to
29:39make this month or this year. Where if
29:42you look at the biggest businesses in
29:44the world, take for example Amazon. They
29:48lost money
29:50for over a decade before they started
29:53making money. They had such a long-term
29:55perspective of being able to build out a
29:58logistic hub of their business that
30:01would allow them to reach all the
30:04customers at the scale that they are
30:06today. And that required a significant
30:09investment.
30:10But because they were willing to do
30:12that, they get to reap the biggest
30:15money, the big slow money. And you want
30:18to in the beginning be focused on quick
30:19fast money because you need money. It's
30:21the oxygen that keeps, you know, the
30:23lungs of your business full. But the
30:26more success that you see and the more
30:27money that you kind of squirrel away,
30:30then that earns you the right to be able
30:32to play longer games and really think
30:34about not where do you want to be this
30:37time next year? Where do you want to be
30:38in 10 years? What is the type of
30:40business that you want to be building?
30:42And when you start thinking that
30:44long-term, it completely changes your
30:47perspective of the things that you
30:49invest in in your business. I learned
30:51very early on in my career that people
30:56don't want to get rich.
30:58They want to be rich. You want to go
31:01and fish where the fewest go because the
31:03fishing is best where the fewest go. And
31:06the fewest go where those long-term
31:10games, where you're playing in decades.
31:12But the payoff for those things is going
31:14to be infinitely more than the whole
31:16pool of people that are playing for the
31:18quick small money. Point number 14,
31:21focus on the skills that have the
31:24longest half-life. In business, there
31:27are infinite things that you can focus
31:29on.
31:30And
31:31the more success that you see,
31:34the more that you want to engineer your
31:36week, your month, and your years to be
31:38focused on acquiring the skills that are
31:42going to compound throughout your whole
31:44career. So, as a marketer, you might
31:46start as the salesperson. You might
31:49start as the media buyer that is running
31:51the Facebook ads, that is in Facebook
31:53ads all day long. What we know from
31:54Facebook ads now is going to be entirely
31:57different likely in the next 4 years.
31:59So, if I obsess over the next year of
32:01becoming the best Facebook media buyer
32:04in the world, those skills and all the
32:07time that I spend to acquire them, they
32:09are going to be completely different in
32:114 years. Therefore, they have a very
32:14small half-life. Instead, leading
32:17people, communicating with people, being
32:20a clear writer, these are all things
32:24that are going to continually compound
32:26in whatever the skills or whatever the
32:28business is that you run in the future.
32:32And as you continue to work on those
32:34skills, the biggest hack that I have
32:36found is just to try to make yourself
32:39redundant at every step of the journey
32:42so that you can focus on those skills
32:45that give you the most leverage
32:46long-term and that are going to serve
32:48you because if they give you the most
32:49leverage, you're going to get the most
32:51throughput and you're going to build a
32:53much bigger opportunity for everybody
32:55that's involved. Point number 15, spend
32:5880% of your time focusing on how to
33:02increase the average lifetime of a
33:04customer and spend 20% of your time
33:07focusing on how to reduce your customer
33:10acquisition cost. If there's anything
33:13that I see more common in the marketing
33:16world is broke marketers obsessing on
33:20how to lower their cost per lead or to
33:23lower their customer acquisition cost.
33:25And they obsessively run crazy split
33:28tests, they're buying every single
33:30Facebook media buying course that exist
33:32out there, and they're just myopically
33:35focused on this thing like it's the
33:36detriment to their business.
33:38And instead, what you want to do is
33:41focus 80% of your time focusing on how
33:45do I deliver a better product or service
33:47that either gets people to buy more or
33:50to buy more frequently? And just provide
33:53an incredible experience where my
33:55customer's lifetime value is higher than
33:59anybody else in my industry or my
34:02category. And therefore, I don't need to
34:04obsessively be focused on how do I have
34:06the cheapest customer acquisition cost?
34:08I can afford
34:10to spend the most to acquire a customer
34:14because I make the most off each
34:16customer. And you're able just to snatch
34:19up everyone in that marketplace because
34:21you're not worried about trying to shave
34:23two or three dollars off your CPA. 80%
34:25on increasing LTV and 20% on reducing
34:30your customer acquisition cost. Point
34:32number 16, advanced people always do the
34:36basics. I see people all the time
34:38obsessed over doing the most advanced
34:41and shiny things as possible. And
34:43whenever I used to read like biographies
34:45of billionaires or I'd meet with people
34:48and I would ask them about their
34:49journey, I would feel like that they're
34:52leaving out all the juice. I was like,
34:54"When are they going to get to the
34:55tactical stuff? Like the exact sentences
34:58that I can say, the exact ads that I can
35:01run that are going to make me
35:03successful?" And they always spoke in
35:06like generalities and like in
35:08frameworks. And I was like,
35:11"Yeah, like that's all good, but like
35:12give me the juice, dude. Like give me
35:14the actual specific things." Like,
35:17"Yeah, okay, cool. Like have an
35:18exceptional product, right? And have it
35:21so exceptional that you can charge
35:23premiums and then make more profit per
35:26customer so that you can hire the best
35:28people to come in and help you with the
35:30business and make sure that you break
35:32off a percentage of your annual profits
35:35into R&D." I was like, "Yeah, that's all
35:37cool, right?
35:39Like give me the tactics now. Give me
35:41the shiny tactics." And I realized after
35:45reading lots of books, speaking with
35:47lots of people, these advanced people,
35:49they always did the fundamentals every
35:51time.
35:52Whereas you look at like a lot of gurus
35:54online and if you look at a lot of
35:57business experts, they will be selling
35:59you the most advanced thing, the most
36:01advanced tactic. And a lot of the times
36:03they don't have big businesses because
36:05they're not following the fundamentals.
36:08They're obsessed over the most advanced
36:10funnel that you can have or the new
36:12Facebook ad targeting strategy. I can
36:14save you all the heartache right now.
36:17None of that matters. If you just
36:20do the fundamentals and you do them
36:23exceptionally well, you will wipe the
36:26floor
36:27with the people that have the most
36:29complex advanced funnels and ad
36:31targeting strategies that exist. Point
36:33number 17, skepticism. In the 17 years
36:37that I have been in business, one of the
36:39constants that I have seen is that the
36:41level of skepticism in all markets keeps
36:45on increasing. Now that you have TikTok
36:48and YouTube and all these organic
36:50traffic engines that exist, the barriers
36:52to entry to start a business keep on
36:55getting lower and lower. Then on the
36:57other end of that, you have the whole
36:59guru model where there's a whole bunch
37:01of people out there that are selling
37:03courses about people quitting their 9-5
37:05and starting their own business. You
37:07have more people than are not experts
37:10that are in business in every single
37:12category that exist. And as a result of
37:15that, there is a lot of incompetence.
37:18And that incompetence adds to people's
37:20bad experience, which also adds to their
37:23skepticism. People are just jaded.
37:25They're more skeptical than ever before.
37:29And you need to be very, very present of
37:32that in all of the marketing that you
37:34put out there.
37:36And the antidote to skepticism is value.
37:40And the thing that I have found that you
37:42want to focus on is by proving to people
37:45that you can help them by actually
37:47helping them. There is nothing that you
37:49can do, there is no headline hack,
37:51there's no ad targeting hack that is
37:53going to trump that. And when you do
37:55that, you get a much larger group of
37:58your market that actually does buy
38:00because you lower that skepticism meter
38:03of them being burnt in the past and you
38:04provide value and you prove to people
38:06that you can help them by actually
38:08helping them. Then in addition to that,
38:10you also provide all the goodwill to
38:13your marketplace by helping people that
38:15are never ever going to buy off you as
38:17well. So, you need to throw stones at
38:20the other alternatives that exist
38:23that aren't your product and you need to
38:25show how those products have not been
38:29able to deliver on the promise that they
38:31make in the first place, which forms
38:33into something called a unique
38:35mechanism. So, we'll take the weight
38:38loss market, right? If someone's in the
38:40weight loss market, the chances are that
38:42they have tried another diet, they've
38:44tried paleo, keto, intermittent fasting.
38:49They've tried all of those things, yet
38:51here they are still overweight and
38:54wanting to lose the weight.
38:56And you need to be able to articulate
38:59why all of those things have failed the
39:01individual. And then and only then, then
39:04do you present the unique mechanism
39:07behind the solution, which is your
39:09product, to solve that problem. And you
39:12need to compare and contrast and show
39:15people how it is superior to all the
39:18other alternatives that exist in the
39:20marketplace. And unless that you're
39:22doing that with your ads and your
39:24funnels and your promos, then you're
39:27never ever addressing the skepticism
39:30that is rampant in the market. And
39:32unless you address that skepticism, your
39:34conversions will always be low. Point
39:37number 18, a godfather offer. A
39:41compelling offer is infinitely more
39:45powerful than a convincing argument. In
39:47any transaction, there is risk present.
39:50And in most transaction, the business
39:53owner is asking the prospect to wear all
39:57of that risk. They're like, "This is the
39:59product, just buy it. This is the price,
40:02just buy it." When realistically, you
40:06want to be aware of the risk that is
40:08present in every transaction, and you
40:11want to burden the majority of that risk
40:14as a business owner. And the more that
40:17you do that, and the more clearly
40:18defined the end benefit that your offer
40:21enables, the more compelling your offer
40:24is. Now, the biggest rebuttal that I get
40:26when it comes to making a Godfather
40:28offer is that like, "Oh, wow, you want
40:31me to burden all of that risk? And then
40:34if I do that, there might be refunds,
40:36and that's going to cost me a lot of
40:37money." But the thing that most business
40:40owners don't take into consideration is
40:42that we are all in the business of going
40:45out there and getting attention and then
40:46converting that attention into
40:48customers. The more compelling the
40:50offer, the more people that you're going
40:51to get to actually convert, and that is
40:54going to lower your customer acquisition
40:56cost. A compelling offer is more so
40:58about having a very clearly defined
41:02promise that you're making, and then
41:04removing all the risk. And my litmus
41:07test for this is if the offer does not
41:11keep the founder up at night, then it
41:13simply isn't strong enough. Think about
41:16what is it that you can add to make your
41:18offer more compelling, or how more
41:20clearly defined can you make it, or how
41:23much more risk can you burden for your
41:26prospects to make this a no-brainer for
41:28them. Do that and watch your sales
41:30explode. Point number 19, showmanship
41:34and service. I believe that showmanship
41:37is one of the most long-lost art forms
41:40that exist in business.
41:42People will forget about what you say in
41:44your ads, what you write in your emails,
41:49what's in the specific thing that it is
41:51that you've got, but they won't forget
41:54about the way that you made them feel.
41:56Not only just being a showman in your
41:59promotion and in your ads and in the way
42:01that you get attention, but even in the
42:03way that you service, delight, and
42:05surprise your customers. And a great
42:07example of this is the Ritz-Carlton.
42:11They're kind of been studied as like the
42:13gold standard of customer service. And
42:16one of the things that they've got is
42:18that they give every single team member
42:20in their business an allowance of $2,000
42:24for each incident, not each person
42:28staying in their hotel, each incident to
42:31right a wrong or a complaint that a
42:34customer has while staying with them.
42:36They don't need to get approval, they
42:37all have $2,000 as a budget to right
42:40that. And as a result of that, that just
42:44has people having the most incredible
42:46experience ever when they stay at their
42:49hotels because if anything ever goes
42:51wrong, that person that is serving them
42:53has the authority and power to spend
42:55$2,000 to make sure that that experience
42:59is no longer an issue, and use that
43:01opportunity
43:03not to just overcome that problem, but
43:05to surprise and delight the customer.
43:07Not thinking about what is reasonable,
43:10what can you deliver on, start with the
43:12extremes, and then you think about how
43:15can I inject some of that in my
43:17business. What is it that I would be
43:18able to do to surprise and delight my
43:21customers so that they have a remarkable
43:25experience that they by definition want
43:28to go and leave a remark about and tell
43:30other people, and then you get more
43:32customers. And I have found that the
43:34more showmanship that I inject in my
43:37business, from the way that I promote
43:39and market to how we service and delight
43:42customers once they come in, there is
43:44nothing quite like lighting someone up
43:47with a big smile or getting handwritten
43:49letters of saying, "What a surprise and
43:52how delighted that they are." It's also
43:55good business, which brings us to AI and
43:58the future of marketing. Not a day goes
44:01by where I don't receive an email, a
44:04handwritten letter, or somebody asking
44:08me
44:09sub- wait, "What about AI? Like how is
44:12Isn't this just going to make all
44:13agencies redundant? Isn't this going to
44:15make most businesses redundant? What are
44:17you focusing on as a marketer as AI
44:20comes about, and what do you think is
44:22the areas that I need to focus on that
44:25aren't going to be replaced by AI?" And
44:28I think that over the last couple of
44:29years, like I have been completely in
44:31the trenches on AI and applying it to my
44:36clients' businesses, to my businesses.
44:37And the more that I use it, and the more
44:40that I have my team use it, things
44:42become apparent. A lot of the manual
44:44tasks that we do, like interpreting
44:46data, operating within these auction
44:49pools on Facebook and Google Ads and
44:51doing media buying, all of that stuff is
44:54eventually and inevitably going to be
44:56completely automated.
44:58But if everybody is using AI for all
45:01their media buying
45:03and all of these marketing campaigns
45:05that they're running, then what is going
45:08to be the differentiator? What is going
45:10to give people an edge if everybody has
45:13the same advantage? And that's been a
45:15question that I've been obsessing over
45:16for the last year and a half.
45:18And the thing that I keep on coming back
45:21to
45:22is it's all about the ideas. And
45:26imagination
45:28is more important than knowledge, to
45:31quote Albert Einstein. And I think that
45:33that is going to be something that's
45:34going to ring true over the decades to
45:37come. And it's going to be people's
45:39ability to come up with big ideas and to
45:42apply their imagination that then we can
45:44guide AI into to help us do all the
45:48logistical script writing, media buying,
45:51running the ads, writing the headlines,
45:53and doing all of those things.
45:55And when it comes to like ideas and
45:58creativity, the thing that I have found
46:01that helped that is that solitude is the
46:04wind that stokes the flame of
46:07creativity.
46:08And you do not want to be in a constant
46:10state of consumption because the more
46:13that you consume, the less that you
46:15create.
46:16So, if you want to create more, you have
46:19to consume
46:20fewer things. And when you allow time
46:23and space to transpire, and you allow
46:26quiet to happen, and you go for a walk
46:28without your phone, that's often the
46:30time when your imagination runs wild.
46:32It's these big ideas and these concepts
46:35that is going to be really the
46:37differentiator with the coming of AI.
46:39So, I hope this serves you wherever
46:41you're at on your business journey.
46:43Like, subscribe, and I'll see you in the
46:45next one.

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