Why This Agency Outgrew Its Tiny Niche — Transcript

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1. 0:00Yeah, so I I run a digital marketing
2. 0:03business that helps
3. 0:05clinics in the Gulf markets attract
4. 0:08Arabic speaking patients
5. 0:10for elective procedures.
6. 0:12>> Okay, hold on. Hold on. Digital
7. 0:13marketing agency
8. 0:15helping Gulf like the Gulf of Gulf of
9. 0:19>> Like like the Arab Gulf or the Persian
10. 0:21Gulf like like talking like Saudi
11. 0:23Arabia, UAE.
12. 0:24>> Persian Okay, marketing agency helps
13. 0:26Persian people find
14. 0:28>> No, Arabic speaking.
15. 0:30>> Okay, cool.
16. 0:30>> Arabic speaking people.
17. 0:31>> Okay.
18. 0:32>> Elective procedures.
19. 0:33>> Oh, so this is plastic surgery.
20. 0:37>> So, yeah, plastic surgery,
21. 0:39dental that's elective, you know, like
22. 0:41veneers things like that.
23. 0:43And then
24. 0:45>> We're not making a ton. We do about 300
25. 0:47in revenue. I probably get about 150 in
26. 0:50total take home. Um
27. 0:52>> Okay.
28. 0:53>> And uh as far as like my my my profit
29. 0:56and comp. And
30. 0:58>> Okay.
31. 0:59>> Um
32. 1:00Right now, we're kind of struggling
33. 1:02because
34. 1:04I'm not sure the market is big enough.
35. 1:07Um because we're we're doing like a ton
36. 1:09of cold outreach. We've been doing it
37. 1:10for 2 years. We use Instantly and we use
38. 1:13Apollo and kind of all the main services
39. 1:15there. And the thing we struggle with is
40. 1:17like we I'm struggling with doing the
41. 1:19whole 100 action thing because when we
42. 1:21like research cosmetic surgeons in Saudi
43. 1:24Arabia,
44. 1:25>> Yeah.
45. 1:25>> we might be lucky to put together a list
46. 1:27of 150 of them. And then it's like we do
47. 1:31the outreach, you know, for a week and
48. 1:32then it's like we run out of prospects.
49. 1:34And then, you know, we try to look for
50. 1:36for dentists and then, you know, we we
51. 1:38find another two 200 to 300 that can do,
52. 1:41you know, elective procedures. And then
53. 1:43we run out. And so, kind of struggling
54. 1:45with it.
55. 1:45>> you start with that as What made you get
56. 1:47into Arabic speak like what made you do
57. 1:49that?
58. 1:51>> So, originally back in 2012, I started
59. 1:53an agency doing like Arabic SEO and we
60. 1:56were like the only one in the market
61. 1:58doing it. Um I I lived in the Middle
62. 2:00East for 4 years and and and just
63. 2:02thought I'd try this skill out. And it
64. 2:04worked really good for a while until
65. 2:06probably a couple years ago there just
66. 2:07like was a ton of competition in the
67. 2:08market. So, we started niching down and
68. 2:11since we've had a lot of medical
69. 2:12clients, I thought, you know, let's
70. 2:13focus on elective stuff
71. 2:15and try to get uh clinics, but I'm I'm
72. 2:17kind of like struggling with the market
73. 2:20size. Like it's kind of a developing
74. 2:22market.
75. 2:22>> So, you can get leads for them.
76. 2:25What's your I mean, do you do do they
77. 2:26retain?
78. 2:29>> Yeah, so a lot of them a lot of them
79. 2:32retain, you know, they stick around or
80. 2:34and most with some of the clinics, you
81. 2:35know, they'll pause for like a period
82. 2:37where, you know, like
83. 2:38>> What's annual revenue retention? What's
84. 2:40annual revenue What's annual revenue
85. 2:41retention?
86. 2:43What's annual revenue retention?
87. 2:47>> Annual revenue retention
88. 2:49So, I we're we're churning about 50% of
89. 2:51our clients every year, I would say.
90. 2:53>> Yeah.
91. 2:54Yeah, you have an acquisition issue.
92. 2:56Um the problem is so you you've kind of
93. 2:59like you've two you've two issues,
94. 3:00right?
95. 3:01So, issue number one is that you were
96. 3:03dealing with very small businesses and
97. 3:05so there's going to be structural churn
98. 3:07that exists there because they are not
99. 3:08very big business owners and so as a
100. 3:10result their volatility translates to
101. 3:11your volatility. That's thing one.
102. 3:13Okay?
103. 3:15The second issue is that you don't have
104. 3:18a reliable way of getting them. Uh
105. 3:20outreach is obviously a way of doing it.
106. 3:22Um you might benefit from just straight
107. 3:25running ads for anything that's
108. 3:27elective. The good news is that with
109. 3:28Andromeda you can be very specific and
110. 3:31still keep the targeting relatively
111. 3:32open. Meaning your, you know, creative
112. 3:35can be like, all right, well, we're
113. 3:37going to run a campaign for, you know,
114. 3:38uh
115. 3:39dental cosmetics, we'll run a campaign
116. 3:40for
117. 3:41ocular facial, we'll run uh one for uh
118. 3:44just pure facial, we'll run one for
119. 3:45noses, we'll run one for necks, we'll
120. 3:47run one for boob jobs, like we'll run
121. 3:50one for each of, you know what I mean,
122. 3:51each of the different, you know, surgeon
123. 3:52types.
124. 3:53Um and I would bet that if you ran ads
125. 3:56with those objectives, you would
126. 3:57probably do better. There are certainly
127. 4:00more than 150
128. 4:02of each of these things. There are tens
129. 4:04of millions of people, you know, what I
130. 4:05mean? Um
131. 4:07in in that whole area. There's for sure
132. 4:09some issues with like um wealth and
133. 4:12money and whatnot, but I I I feel
134. 4:14confident in saying that you could
135. 4:17just run ads rather than do outbound cuz
136. 4:19I just think you're just not getting as
137. 4:20many leads as exist.
138. 4:22Um but
139. 4:23>> Okay. So, so maybe cold outreach isn't a
140. 4:25good channel.
141. 4:26>> It's not a bad channel. It's just that
142. 4:27you don't have enough You just don't
143. 4:28have the ability to get the leads. So,
144. 4:30it's like I could say, "Hey, try harder
145. 4:32at getting leads." It's just you have
146. 4:33been doing this for a while, so I didn't
147. 4:34feel like barking up that tree. And so,
148. 4:36I think just running ads to get them
149. 4:38might be a better next step. I would
150. 4:40still say like I like you niche down to
151. 4:43a super super niche. Um you might be
152. 4:46like you might do well just like opening
153. 4:48it up to like the US um and not make it
154. 4:53Arabic and just open up to the US. That
155. 4:55would be like my second thing. I would
156. 4:57still try try the ads ads angle first
157. 5:00though.
158. 5:02>> Yeah, one of the things we struggle with
159. 5:03like with the the ones that we do work
160. 5:05with is their budgets are relatively
161. 5:07small and we we constantly are getting
162. 5:09compared against having like a
163. 5:10freelancer in the market that's super
164. 5:11cheap. They're like, "You know, I can
165. 5:13hire five people for the price I'm
166. 5:15paying you."
167. 5:16>> Well, here's the downside. Here's the
168. 5:18downside of what you're doing is that
169. 5:20you're kind of reverse market
170. 5:21arbitraging.
171. 5:23>> Yeah.
172. 5:24>> So, the the ideal way to do this is live
173. 5:26in Indonesia and sell to Americans.
174. 5:29You're like living in America and
175. 5:31selling to people who don't live here.
176. 5:33[laughter]
177. 5:35>> Yeah.
178. 5:35>> Right? So, I think that um
179. 5:39yeah, I mean, I would prefer like I'll
180. 5:40bet you you'd just be able to not have
181. 5:41any of these issues if you probably were
182. 5:43US based. If you have the skill, you
183. 5:44could just market here and compete. Um
184. 5:46you've been doing this for like 12
185. 5:48years. So,
186. 5:49um,
187. 5:50I would say it might be worth
188. 5:51considering to expanding to the market
189. 5:52where like the most buying power is.
190. 5:56>> So, you think it Do you think it's a lot
191. 5:57easier being in the US where there's
192. 5:59more competition cuz at least the thing
193. 6:01we have in the Middle East is like
194. 6:02there's less competition that's, you
195. 6:04know, hyper-focused on this.
196. 6:06>> Yeah, no, there's less competition. I
197. 6:08mean, how good are you? Do you feel like
198. 6:10Are you good?
199. 6:11>> Yeah, I feel like we're we're really
200. 6:13good, yeah.
201. 6:14>> Well, dude, if you're really good, then
202. 6:15you So, here's the here's the big
203. 6:16secret. If you're really good, you want
204. 6:19to go where the competition is because
205. 6:21that's where all the pie is.
206. 6:22>> Okay.
207. 6:23>> If you're not good,
208. 6:25you start by niching down so you can be
209. 6:27really good in a tiny pond.
210. 6:31>> Yeah, that makes sense.
211. 6:32>> That's why you niche down to begin with.
212. 6:34I'm not in a niche.
213. 6:36I mean, business is my niche, but that's
214. 6:38pretty big, you know, pretty big ocean
215. 6:39there. Right? And so, like as you get
216. 6:41better, as you can compete in the wider
217. 6:43and wider ocean,
218. 6:45and you're a bigger and better shark,
219. 6:46the more you want to go where all the
220. 6:47fish are at.
221. 6:51>> Yeah, that makes sense.
222. 6:52>> So, you might have just leveled up. If
223. 6:53you're If you're good, if you're good,
224. 6:55then compete, man.
225. 6:57Like go and win.
226. 6:59>> I'm going to do.
227. 7:01>> Yeah, you got this, man.
228. 7:03Just win.
229. 7:04>> Awesome, thanks, Alex.
230. 7:04>> Yeah, you bet.
231. 7:06Rock and roll.
232. 7:07Thanks for calling in, man. Appreciate
233. 7:08it.
234. 7:09>> Sure.
235. 7:10>> All right.
236. 7:11If you're not getting as many leads as
237. 7:12you want in your business is demand
238. 7:14constrained, [music] meaning you could
239. 7:15service more customers than you
240. 7:17currently have, then this is for you.
241. 7:19So, marketing is changing and I think
242. 7:21ACQ [music] tends to be on the bleeding
243. 7:22edge of this stuff. We certainly spend
244. 7:23the money uh to do it, but we also build
245. 7:26[music] custom software and we pay
246. 7:27amazing vendors and very expensive
247. 7:28people to figure out the system that we
248. 7:30have right now and I want to share it
249. 7:31with you kind of open kimono style. If
250. 7:32you're not getting as many leads as you
251. 7:33want,
252. 7:34boy do I have the thing for you. Click
253. 7:36below, book call, and uh
254. 7:38hopefully I'll see you in Vegas.
255. 7:45>> Mhm.