Why Outsourcing Ads Can Trap Your Growth — Transcript

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1. 0:00Monthly revenue right now is 54K, right?
2. 0:04>> Yeah.
3. 0:05>> All right. And then ad spend is 3K.
4. 0:07>> That's monthly.
5. 0:08>> Yeah, per month. I got you. Um it's per
6. 0:11month, great. Uh ads is 3K.
7. 0:15Great. Per month. Okay, per month. Uh
8. 0:18industries are medical. What do you do?
9. 0:20Uh custom insoles?
10. 0:22>> Yes, I'm a podiatrist.
11. 0:24>> Oh, cool. Yeah. Buddy of mine's dad was
12. 0:26a podiatrist back in Baltimore. Um okay,
13. 0:29the offer is insoles for 300 So this is
14. 0:32your your your AOV, you can call it,
15. 0:34right?
16. 0:34Um is 325. I know that you're in pounds,
17. 0:37but I'm just using writing dollars, so
18. 0:38it doesn't really matter. Okay,
19. 0:39constraint is Google Ads are under
20. 0:41spent. Okay, so you can't spend more
21. 0:43than the 3,000 a month. Is that correct?
22. 0:46>> Yeah.
23. 0:47>> Okay, are you local?
24. 0:50>> Uh yeah, I do. I have an uh Google Ads
25. 0:52specialist that is uh running my Google
26. 0:54Ads, so uh that's something I never
27. 0:57learned.
28. 0:57>> No, are you local?
29. 1:00>> Lo- local in the Netherlands, you mean?
30. 1:02>> Like, are you running ads for a local
31. 1:04business? Are you running this ad spend
32. 1:06nationally?
33. 1:07>> Oh, sorry. For a local business, yes.
34. 1:09>> Okay, you're local. So people people do
35. 1:10that, they come in, they get measured or
36. 1:12whatever, and then they they get
37. 1:13insoles, correct?
38. 1:15>> Exactly, yes.
39. 1:16>> Okay, got it.
40. 1:18So, they're saying they just can't spend
41. 1:19more money.
42. 1:22>> Yes.
43. 1:23>> Okay.
44. 1:24Uh I don't know if I believe that. How
45. 1:27big of a city are you in? Like, what's
46. 1:28your 10-mile radius?
47. 1:31>> Um I th- I thought he would uh he said
48. 1:34around uh 10 km, something like that.
49. 1:36But I was also thinking from yeah, maybe
50. 1:38he isn't did uh doesn't have the skills
51. 1:40uh just to uh to to uh to to scale the
52. 1:43campaign, so to say.
53. 1:45So, I am already in touch with a general
54. 1:47uh marketing agency that is already
55. 1:49checking in with another uh Google Ads
56. 1:51specialist to see from if they can do-
57. 1:53duplicate certain campaigns and get
58. 1:55better results.
59. 1:56>> Yeah.
60. 1:57So, I'll say this, man. Um so, I mean,
61. 2:00congrats you're doing, you know, 600 ish
62. 2:01a year. Um I would strongly recommend
63. 2:05you learning this stuff cuz it's not
64. 2:06that hard.
65. 2:08Like, it's really not that hard. Because
66. 2:09then you're not going to like right now,
67. 2:11you're saying the constraint of the
68. 2:12business is under someone else's
69. 2:13control, right? That's a tough position
70. 2:15to be in.
71. 2:16>> Mhm.
72. 2:17>> So, I would just want I would want to
73. 2:18own this myself. And I'll give you a
74. 2:20I'll tell you a story that like really
75. 2:21changed my person I haven't told this
76. 2:22story in a really long time, so this
77. 2:23will be a good one. So,
78. 2:25I went to this meet-up where everybody
79. 2:26was doing, you know, eight figures or
80. 2:28more, and at the time I wasn't. And so,
81. 2:31I like snuck in.
82. 2:31>> [laughter]
83. 2:32>> They were like, "No, we think you're
84. 2:33going to be, you know, a big baller."
85. 2:34cuz whatever, they recognized the the
86. 2:36the the magic in me.
87. 2:38Um but anyway, so they they let me come.
88. 2:40And what was really interesting is one
89. 2:42of the guys who was making the most
90. 2:43money in the room when he went up and
91. 2:43presented, he said this really
92. 2:45interesting thing. He said,
93. 2:47"I would encourage everyone here." cuz
94. 2:49someone would ask him like, "Hey, so
95. 2:50what are you doing to like reinvest in
96. 2:51your education right now?" He said,
97. 2:52"Well, at the at the level I'm at, and
98. 2:54he was making, I think, 30 or 35
99. 2:55million. I remember thinking, I was
100. 2:56like, "Oh my god, this person is God."
101. 2:59Um when I heard that. But he said he was
102. 3:00making 35 million dollars a year, and he
103. 3:02said, "I would encourage you to write
104. 3:03down a percentage of your income,
105. 3:05whatever percentage you're comfortable
106. 3:06with, and put that as your learning
107. 3:07budget." All right? And that learning
108. 3:09budget, he said, "You should spend that
109. 3:10every month, um and expect to have zero
110. 3:13ROI on nine out of 10 things, and then
111. 3:15the one 10th thing will make you 10
112. 3:16times the the money. It's almost like
113. 3:17doing a venture bet on yourself from an
114. 3:19education perspective." And so, I took
115. 3:22that to heart, and then I started
116. 3:23spending saying, "Okay, you've got your
117. 3:24$3,000 I want you, Steven, to do $3,000
118. 3:28a month that you control.
119. 3:30And you're saying like, "I'm going to
120. 3:31spend 100 bucks a day, and I'm going to
121. 3:33see if I can beat this guy." cuz I
122. 3:34promise you, when it's your business,
123. 3:37you'll beat him.
124. 3:38>> [laughter]
125. 3:39>> Like, you'll you'll you'll suck in the
126. 3:40beginning, but you'll quickly learn.
127. 3:42Like, at like PPC for for Google Ads is
128. 3:45like really not hard.
129. 3:48Like, they they make trillions of
130. 3:50dollars to try and make it easy for you.
131. 3:51Sorry, go ahead.
132. 3:53>> Yeah.
133. 3:54>> [laughter]
134. 3:55>> That's great advice, man. Thank you.
135. 3:57Definitely going to start start with
136. 3:58that.
137. 3:59>> Yeah, and the nice thing is that no
138. 4:00matter what, if you spend more money on
139. 4:01ads, you're going to make more money.
140. 4:02So, even if you're inefficient, you'll
141. 4:03still increase top line. But, I think
142. 4:05that if you just try and get good and
143. 4:06good and good at that, and then I would
144. 4:08also reach out to
145. 4:09whatever these other agencies are. I
146. 4:11don't mind spending more in this because
147. 4:12again, the big picture is like you have
148. 4:14bigger goals than this, right?
149. 4:16>> 100%.
150. 4:17>> Right. So, just don't let your ego get
151. 4:19wrapped up in your 1-month or 2-month
152. 4:21profit. Like, that profit will be there
153. 4:22if you choose not to spend money. It's
154. 4:24always there, right? So, I would want to
155. 4:26take as much of that profit as humanly
156. 4:28possible, and I'm just I'm telling you
157. 4:29how I do things. I take all that profit,
158. 4:30and I just see that as like this is my
159. 4:32opportunity to reinvest in the business.
160. 4:33When the business small, reinvestment is
161. 4:34you.
162. 4:36You are the reinvestment. And so, that's
163. 4:38where I'm like, okay, I want to I'm
164. 4:40going to pay the my current agency. I'm
165. 4:42going to pay the next agency, and I'm
166. 4:43going to tell both of them I want them
167. 4:45to teach me what they're doing. And I'm
168. 4:47going to spend my own budget, too.
169. 4:50>> Yeah. Yeah, so that that that was
170. 4:51originally already my plan. So, I had
171. 4:53Justin call this afternoon with the new
172. 4:56agency, and I told them from look, if we
173. 4:58going forward with the Google Ads
174. 4:59specialist, I want to have weekly calls
175. 5:01to at least know what what he's doing in
176. 5:04the ad account. So, I just can follow
177. 5:06the the guy, and that ever may ever have
178. 5:08new ideas that I can just try out, but
179. 5:11that I understand what he's doing.
180. 5:12>> Let me tweak Let me tweak it for you.
181. 5:14Let me tweak it for you. Let me tweak it
182. 5:15for you.
183. 5:18You're going to ask how often are they
184. 5:19are they going to be, you know, really
185. 5:20doing work on the campaign. Just let's
186. 5:22just guess it's twice a week, okay?
187. 5:25I'm going to do something even better
188. 5:26for you.
189. 5:27I'm going to ask that you don't even
190. 5:28work on my account. I'm still going to
191. 5:30pay you.
192. 5:30And I want to have two calls a week, and
193. 5:32all the work is going to be done on
194. 5:33these two calls. That's it. They don't
195. 5:35have to do any other work for my
196. 5:35account. But, I want to be the one who
197. 5:37controls the mouse, and I want them to
198. 5:38tell me what to do.
199. 5:40And why they're doing it.
200. 5:43>> Oh, that's that's a very good idea.
201. 5:44>> Okay? This is how I learned This is how
202. 5:46I learned how to run national level
203. 5:47Facebook ads. This is how I learned how
204. 5:48to do it. I hired an agency and I said,
205. 5:50"I'll do whatever. I'll show up whatever
206. 5:52hours you want." I was like, "But I
207. 5:53control the mouse, and you tell me what
208. 5:55to do, and I'll do it." And I recorded
209. 5:56my screen, and I would ask questions
210. 5:58along the way, and they would tell me.
211. 5:59I'd be like, "Okay, so why are we doing
212. 6:00this?" And then, within 6 weeks, I was
213. 6:02like, "I get it. I don't need this guy
214. 6:04anymore."
215. 6:07>> That That's genius.
216. 6:09>> [laughter]
217. 6:09>> Cool?
218. 6:11>> Yeah, sounds good. Sounds good.
219. 6:13Definitely going to start that.
220. 6:14>> Rock and roll. Congrats on the business,
221. 6:15Stephen.
222. 6:16If you're not getting as many leads as
223. 6:18you want in your business is demand
224. 6:19constrained, [music] meaning you could
225. 6:21service more customers than you
226. 6:22currently have, then this is for you.
227. 6:24So, marketing is changing, and I think
228. 6:26ACQ tends to be on [music] the bleeding
229. 6:27edge of this stuff. We certainly spend
230. 6:29the money
231. 6:30to do it, but we also build custom
232. 6:31software, and we pay amazing vendors and
233. 6:33very expensive people to figure out the
234. 6:35system that we have right now, and I
235. 6:36want to share it with you kind of open
236. 6:37kimono style. If you're not getting as
237. 6:38many leads as you want,
238. 6:40boy, do I have the thing for you. Click
239. 6:41below, book call, and
240. 6:43hopefully I see you in Vegas.