Episode 120 Transcript

Guys, welcome back to episode 120. The other day, I was talking to one of my clients and she was getting very, very, very frustrated. Now she has an established business. She's been in business for a while. She's actively selling her services. She has a team. Everything's going really well. What she hasn't done though is try a new marketing channel, social media. She doesn't have much activity on social media. I think the last post she did was, I don't know,

 

a year at least ago on Facebook or Instagram. And this is where she wants to go is to open up this new marketing channel and try and get business coming in for a new offering of hers on social media, specifically Instagram and Facebook to start with. So we were chatting and you know, we're a month into her ads. And at that point in time, remember she started with nothing, nothing. No posts had happened for a year. Nothing was going on.

 

And over the span of a month, she suddenly got engagement and people texting her and liking her content and going to her website into her landing pages. And there was activity. She was growing what we call warm audiences. So in marketing, can do different types of targeting. And one of them is like a warm audience or people that are actively responding to your content. So within the span of a month, she went from nothing to having this engagement

 

really great content and a direction and a flow and a landing page and an offer and all these different things. However, she was really frustrated because she's like, well, where are all the sales? So I thought I'd have a chat with you guys. Yes, this is all about growing your business smarter. The hustle rebellion. That's what this is all about, right? So it's not burning yourself out. And part of that

 

kind of like that cliche quote, good things come to those who wait, you know, I'll flip it around another side. There is a guy who's created a software in marketing called ClickFunnels. You may have heard of him. If you're listening to me, you might've been aware of him as well. His name's Russell Brunson and he came up with this sort of phrase called you're only one funnel away, which he uses in his marketing a lot. It's kind of the same thing. Be patient, essentially.

 

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Be patient. It takes time. Think about how long it's taken you to grow your business, to come up with ideas, to test customers, to test offers, to hire and maybe fire staff. It takes time. So why would introducing a new channel of marketing, such as social media, suddenly overnight make you really successful?

 

Yeah. mean, wouldn't it be great if all your social media ads or any ads for that matter worked ASAP or the emails and the marketing that you send out your EDMs, you know, are opened and clicked every time or that video series that you worked really hard on took off and people are responding to it. Absolutely. It'd be great. And sometimes that does happen. But I want to talk to you about the fact that you do need to be patient with your marketing. You really do.

 

That's why we have something called the marketing funnel. I'm sure if you guys are listening to this, you have your business, you know what a marketing funnel is, but let's remind each other right now what it is. So marketing funnel is simply a funnel. So you can picture the top is bigger and then it funnels down into a smaller, smaller, more narrow piece. And there's stages in this funnel, right? So top is awareness and you're educating and helping people and meeting where they are in their journey.

 

They might become aware of a problem that they have or desire that they want. And your role is to help move them from that into the next phase, which is consideration and purchase. And then we have retention and advocacy. There are multiple steps in this funnel, multiple steps. And this is like the foundation of marketing. Sometimes it's also called the customer journey, but there are phases and steps. So knowing that this is over many, many decades of marketing.

 

This is the model that's come to work and understanding that and understanding there's phases and there's steps. Why would we get so impatient with the fact that, no, this one ad campaign or this one sales campaign didn't

 

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I know we're human being and we want it, human beings, we're human beings and we want it to work, right? We want things to work fast, but it's not like that. It's just not like, that's not how it works in business and life, right? So when you go to the gym, you work out, have to do it over time consistently to get results. Same with your marketing. You have steps and phases that you have to focus on in your marketing with different types of content to move someone through the funnel and not just voila, one day I turn marketing on and I get sales.

 

And I just think it's so important to like remember that, right. And not to just get discouraged because one of the, another client, you know, she was doing the same sort of thing and turning on this new channel and literally turn it off within only one month, had no activity on this channel at all, nothing going on. And within one month, it's not going to work. So yes, guys, it will work. And I want to leave you with a few mindset things coming up with marketing. yeah, first of all, number one, be patient, right? It's going to take time.

 

You have clear phases in a marketing funnel of which you must focus on each phase to move somebody from point A to point B. But then also even in amongst all of that, there is a bit of a mindset to consider as well, a bit of a marketing mindset. And there's a few different things in that to think of. So the first one is focus on the customer lifetime value rather than the acquisition cost. Right?

 

If you're doing really strong marketing and you're in it for the long haul and you know your company's amazing and what you offer is amazing, it's going to take time and you know that and you're going to be patient and make it happen. Then also remember that the customer of yours might take time as well to go through all of your service offerings or your product offerings. And it's not also going to be like an overnight thing with them either.

 

So focusing on the lifetime value of everything that they purchase from you over time is more important than that initial first bite. So focusing long -term customer lifetime value. Another thing is, it's part of being patient for results is, I don't know if you guys have heard about this, but it's called the loss leader strategy. And what this is, is basically selling or promoting a service or a product at a price that

 

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essentially unprofitable for you in order to attract new customers. And this is huge in the advertising space. So oftentimes a lot of companies will basically be happy, breaking even or even losing money on that first initial acquisition of a prospector customer. So they'll spend more money on resources and budget to get that customer to come in knowing that they're okay with

 

because it's that lifetime value of the customer for them. So just remember that as well. And these are very clear, tried and true marketing practices, which feed in and validate that idea of being patient in your marketing. So we have the focus on life customer lifetime value. have be patient for results, even with strategies using like the loss leader strategy. And remember it can take time.

 

to get people to take steps with you as well. And that's why we have follow through in our marketing funnel. So not only do you do an initial ad or email or podcast interview, you do that initially to get awareness and get people to know your brand, but then you have multiple steps of follow up. There's something in marketing called the rule of seven. Now people argue it's more like the rule of 50, but it's essentially that it has like seven touch points until somebody will take action with you.

 

So yeah, they're gonna become aware of you and then they'll probably listen to your marketing or your Instagram stories or your reels or get on your email list or ask a friend or go to your Google reviews, whatever it is, over time, it might take time for them to actually put their hand up and go, yes, I'm ready. I'm ready to be a customer of yours. So really ultimately with all this, I felt sad when talking to my two recent clients because they have such an amazing business. They've worked so hard. They're trying to take it to the next level.

 

And then something about marketing, I don't know if it's what's been taught out there, something about the messaging of like, just run ads and you'll be successful. It's not like that. And it made me sad that after one month, they're like, it's not working. We're actually all these incredible metrics and things were starting to happen. They were getting brand awareness. were building audiences of people that were interested in what they had to offer. So if that's you and you're right in the middle of taking on a new team member or you're trying a

 

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campaign in a new area that you've never done before and you are thinking it's not working. Have you a given it long enough and B remembered that there are distinct steps in marketing where you ultimately need to warm somebody up to build trust with them. And it might take time for them to be customer and it might take, take even more time for them to become, you know, repeat buyer of yours. So hopefully that helps. just felt like I wanted to take these amazing

 

business owners and sit them down and go, please change your mindset around this because it will work. It does work. It's just being patient. All right. Thanks you guys for tuning in. As always, I love having these chats with you and I will be talking to you in a future episode. And by the way, guys, we have a couple of really cool interviews coming up. can't wait for you to listen to them. Yay. Okay. So stay tuned. More to come.

 

Definitely hit subscribe to this podcast if you've not yet done so. You don't want to miss the couple of episodes coming your way next. Talk soon. Bye.