Transcript
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Conversations from the front lines and marketing. This is be to be growth.
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Hello and welcome in to be tob
growth. I'm your host, Benjie Block,
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and today I am joined by Jacob
a Zea. He is a consultant
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and adviser for early stage tech companies. Jacob, it's fun to have you
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on the show man. Thanks for
having me, Benjie. Great to be
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here with you and I love your
role as a consultant and advisor, because
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here on be to be growth we're
always talking to marketing leaders, right and
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they're sort of in the trenches of
their company, but you're seeing some like
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trends, things that you're dealing with
across company lines, and I think that
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could be a fascinating conversation today.
Jacob, tell me some of what you're
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seeing. Man. What are some
common issues that you see companies bumping into
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and maybe having recurringly? Yeah,
so I'm working with either marking leaders or
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or CEOS themselves. What are the
trends I've been seeing recently that I feel
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is worth mentioning? Is this strategy
to really optimize the funnel as much as
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possible to increase conversion rates. So, for example, one of the clients
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that I'm working with are. They
are. You know, they've switched their
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linkedin ads from trying to optimize for
website conversions to leagen forms because on there
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and they saw that, you know, they would get a higher conversion rate
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on the person filling out a form
if it was a Leegen form as opposed
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to website. And that's true and
the data supports that. However, when
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you look down funnel at actual customer
acquisition, you can see that the legend
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form isn't really even though you're getting
a higher conversion rate leading to more customers.
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And one of the reasons I think
we're seeing that is because when you
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make it that easy to the engage
with the company, to convert via a
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legion form, which is really filling
out one field after seeing one add you're
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not really giving the user really any
motivation or intent to actually use and eventually
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purchase those services, and that's it's
a bit counterintuitive, but you really want
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to as a company, think about
how do we educate the the users are
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future customers, and so that you
add a little bit of friction to the
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process, because ultimately that's the people
that then convert are going to be way
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more high intent and actually want to
do business with you. Yeah, who
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thought you would hear on B tob
growth today that we should add some friction
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back into the process? But isn't
it true that, like top of funnel,
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you can have as many emails or
whatever, I mean, fill out
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the Legen form, whatever you want. You can get as many of those
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and feel real good, pat yourself
on the back, but if they're not
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not converting down funnel and you don't
you haven't really done anything to let them
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explore your brand feel like they really
align, then they're not even the leads
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that you really want. So the
MQL, SQL, the data, the
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numbers, they're kind of skewed right. So I man, I think that
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is totally true. How do we
go about actually adding the right amount of
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friction in, though, Jacob?
I think that is the question so many
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of us are asking. What do
you feel we should be asking ourselves to
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make sure where we're getting that friction
right? That's a great question and and
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you know, just want to recognize
that. Yes, as marketers we are
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all taught optimize the conversion right,
increase that conversion and is as much as
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possible, and so if this does
sound a bit out of the box,
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that's that's on purpose. As far
as like the right amount of friction goes,
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you know, if you think,
if you think about this from their
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customer experience right, because that's always
important to keep in mind, I think
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asking their customer, you know,
potential customer, to visit your company's website
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and fill out a form there is
not asking too much. If you're acknowledging
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that, like anyone you're marketing to, is going to eventually have to come
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through your website to talk to you, to reach out and talk to you,
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then that's that's not really that that
hard. You, anyone can just
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type in an among Google and find
find the first result. What that does
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is it frees you up. So
then mark it the way you want to
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market on all of on all of
your, you know, channels, all
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of your campaigns, because then you
don't have to optimize for this action where
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you need to get their email dres
so you need to get their phone number
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right away so you can actually give
them content, give them creative, give
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them product marketing that that communicates who
you are as a company and your value.
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And then the friction comes in when
you they've learned enough about your company
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and they're in there, they're ready
to enter into like a real buying cycle.
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They can visit your website and fill
a form on your website. Just
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make your website, you know,
don't make it too hard to find the
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demoform or the free trial form,
but other than that, I think you
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know you want people to be coming
to your website as opposed to filling out
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forms on social channels. Why,
you think so many struggle with the is
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it the way we were educated as
marketers and just that desire to see the
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number of mqls rise? What?
What's behind the approach that you see so
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often? Yeah, that's a great
question. I think it's probably has a
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couple different sources. One of them
is definitely this this notion of the mql.
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And you know, Oh, because
we work in a business where,
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you know, sales cycles are a
couple weeks to a couple months. We
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want to make sure we're adjusting performance
on a, you know, regular basis
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and in order to do that we
need metric like mpls to give us a
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sense of performance. And I think
there's some validity to that, but I
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think it's gotten twisted and become like
the North Star leading indicator for a lot
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of companies, and it just mqls
do not paint enough of a picture for
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the quality of the lead of the
customer, you know, in terms of
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who they really are and like,
are they truly interested or did you get
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them to take an action that was
not indicative of how much they actually are
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interested in your products or services?
So if you were like blue skying this,
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in a sense, we're going like
Thirtyzero foot view and we're going,
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if this was just working optimally in
Jacob's mind, like this is how the
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process should be, not how it
always is, but like right amount of
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friction. Walk me through like an
an example. What's how you're thinking about
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this? I would love to hear
it kind of walked out practically. Yeah,
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totally. So, if we're not
going to if our goal as a
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BDB, you know company were from
a marking standpoint, is not just to
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generate as many leads or mqls as
possible, then that really frees us up
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to market to people in a way
where we can actually just educate them and
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create awareness and and not worried just
solely about this like one, you know,
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metric of sort of conversion rate,
and so what that does is it
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allows the company to, you know, create a series of ads, potentially
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if we we're talking about paid social, but we could be talking about really
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a lot of different channels. But
the point is that these, these creatives,
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these ads, they talk about the
product, they they talk about the
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benefits and the value, the features. One of the one of the ways
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I like to position this to clients
as, like you know, my ideal
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state of marketing is take your sales
playbook or the sale the your first call,
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sales deck, where that's like the
first thing you're showing someone up,
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you know, for a demo.
In that in that deck you've got all
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of the benefits, all the features. It's like, you know, it
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has the best content about your product
in your company. Take that deck,
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cut, slice it up, reform
at it and create a whole campaign around
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just, you know, featuring your
product and service externally distributing it across channels.
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And then when I like to say
to you know leaders, you know,
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CEOS, sales leaders, is how
nice would it be if, when
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a lead came in and we're ready
to talk to sales, they already knew
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everything you were going to say,
and they really just needed to talk about
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pricing, and that's the cut type
of marking that you can do if you're
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not trying to optimize for conversion rate. HMM. I love this too because,
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and obviously you advise for these early
stage tech companies, you see this
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so much in early stage companies where
they're thinking way more about sales and they're
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not thinking about marketing yet, right, because they're just trying to show proof
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of concept. But in this it's
really saying, no matter what, you're
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going to have that sales day,
you might as well do some marketing with
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that, educate the market, and
so there is so many benefits in that.
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But when you get into the sales
mind, you're thinking about the demos
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you got to be on, the
calls you got to make, and you're
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not thinking about how you could utilize
social channels or paid social right to actually
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drive sales in and just a slightly
different format, with a mediate with a
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source you already have. Exactly.
These companies are already investing so many resources
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into these into these salesman sales materials, right, creative resources, content resources,
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and they are really saving these resources
for the only the few people that
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come through their door. And my
questions for these, for these companies,
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these these leaders, is like,
why are you saving your best assets for
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only such a small amount of people? There's unless there's really proprietary, secret,
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confidential knowledge and in these sale materials, which you can also just redact,
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why not just share that with everyone? And so like, everyone gets
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the best quality, you know,
creative and content that your company has to
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offer, and really everyone, sales
and marketing both win. And in that
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scenario, hey be to be gross
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more time. That's Bob Growth podcom. Let her be number two. Letter
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quality, you know, creative and
content that your company has to offer,
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and a really everyone, sales and
marketing both win and in that scenario.
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So someone's listening to this and they're
going I want to go back to my
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team and start to implement this.
An easy first step would be what we
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just talked about. Go look at
what your sales materials are and how you
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can repurpose that. Anything else you
would say, Jacob, as far as
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like these are questions to be asking
your team or things to be thinking through
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as far as assets you're creating?
Yeah, this is really helpful. So
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you know this is something you're considering. I think the first question has to
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just be around customers and customer acquisition, because that's really going to help you
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sort of make the case to maybe
adjust your marketing strategy to be a bit
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more about the marketing as opposed to
the leads. And so I think you
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know, depending on Your Business and
service, but if you look at the
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data and you look at what's driving
the customers, from what I've seen,
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it's not going to be the campaigns
in the programs that are very focused on
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just capturing contact information. And so
once you have that data, it's a
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lot easier to take that work with
your you know your leadership team. You're
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exact team on how to actually craft
a program that would drive customers as opposed
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to leads. And then, once
you have that data and that by and
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then, yeah, you can work
with your work, with your existing materials.
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One of them could be just taking
your sales deck, slicing and dicing
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it up into campaigns or ads for
social or paid social. Another easy win
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I like to talk about with companies
that a lot of companies do is webinars.
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Right. A lot of companies put
on webinars. There get a lot
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of them are gated, which means
they're behind a form. And so,
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rather than creating a new content,
take those Webinars, take the best three
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thousand hundred and sixty second clips right, add subtitles and a headline if you
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can, and then and then run
those as a campaign as well. So
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you're really able to like almost up
cycle this creative and content that you've already
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made, but was only for such
a small amount of people because of the
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of the friction that was in place, like for the Webinar, meaning that
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the form and now so many more
people can actually access it and therefore,
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you know, learn about about your
company. I would say you can go
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one step further, than that and
you could take the script of the Webinar
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and re record the video so it
doesn't just look like a Webinar, and
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get someone who is enthusiastic on your
team to do it so that it looks
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slightly different, because people will eat
that up in a different way than knowing
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that your content was repurposed from a
Webinar. But if you don't have that
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bar set yet and you're not even
repurposing your Webinar, are just start there.
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Do that. But I'm saying if
you're doing that and you want to
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raise the bar one more time,
just try getting someone who is good on
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came off ups. I'll take it
to the next one. I love that.
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It's good man the companies that work
with or it's ability, very tight
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on resources. So yeah, a
lot of these recommendations are basically from maximizing
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the existing resources and content that that
you do have. But absolutely, you
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know, webinars. I agree with
you specifically because the way that webinars get
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recorded, even if you are if
you even if your faces on it,
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which is not a given necessarily for
a lot of webinars. Let's say it's
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a Zoom Webinar, weather is you
know, some sort of recording of the
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actual presenter, but the main focus
is a slide. But the content and
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creative that works the best on most
channels is actually talking heads. So you
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really want to like flip that script
and prominently feature the presenter talking into the
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camera, because that just is what
ends up like engaging the best across channels.
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Okay, so the pushback, I
think, would be maybe at like
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a executive level, where you're going. We're used to seeing this number of
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mqls, sqls, and they've they've
optimized for higher numbers. They're right,
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versus the approach were discussing. So
there's going to have to be a conversation
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that's had that goes, Hey,
guys, we might see this number dip
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because we're actually creating some friction.
What are your tips there for making sure
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that conversation goes smooth moodily and we
kind of foster that understanding? That is
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a that is a very uncomfortable conversation
that I've had before. So I do
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want to acknowledge that. It's not
an easy one, right, because you're
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you know, you're basically telling you
know, whoever your leaders, your exacts,
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that listen, like we are the
the mql, the SQL volume that
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we've been seeing is going to go
down right, and that that you immediately
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on the on everyone's faces. You
see this panic set set in, that,
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oh my God, like what's going
to you know what? What does
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it mean for the growth? We
have these enormous girl growth targets. What
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does that mean sort of for our
trajectory? And again, is there's a
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lot of just go back to the
data, right. So reassure them that
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that these programs are not actually driving
any customers, so changing the strategy won't
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affect the business bottom line. And
then really, you know, the conversation,
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yeah, just needs to be about
how we are taking a customer acquisition
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of e centric folk approach and you
know, that will allow us to do
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better marketing. That also we are
more excited about, and and that's something
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that I've seen work really well,
is to use the data right, to
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use DRT, like, to use
strategy rooted in data, but then also
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flip it back on them and ask
them like, are you excited about the
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marketing that you've been doing, like
these these legenforms, right, like this,
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this this type of a process,
is this something that you're excited about,
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because if you're not excited about it, then I promise you that your
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customers and your future customers are not
going to be excited about it either.
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That's such a huge shift that's needed, and especially in those early days where,
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if you're so in the weeds on
things, it's easy to just go
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we just need these amount of form
fills, versus, if you were on
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the other end of that form fill, would it even make sense for you
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to be filling that out? Like
would you even so, that's such an
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easy switch. That again, like, as someone that does marketing, I'm
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so guilty of still opting for the
form creation and you need someone outside sort
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of asking you those helpful questions,
which you're doing for us today. And
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it makes sense. Companies have such
aggressive growth targets that then it has they
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have to do this. They have
almost are forced into this, like well,
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let's work backwards if we need this
money customers and we need this money
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as growls, and I'm cusn't it
makes it feel almost more manageable and more
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tangible to do it that way.
But you'll end up going down this,
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you know, this path of being
really limited in terms of the way you're
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doing marketing and how much you can
actually grow the business long term. Okay,
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so I got one more follow up
question before we start to wrap up
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here, and that would just be
around the transition period. So if you
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were again to you're talking to executives. They're going on. I'm a little
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nervous on this, but you're asking
these questions. is a transition a swift
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one? Is it when you're kind
of proving out the value of the new
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way over a couple months? Like
how do you advise is that transition actually
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taking place? Yeah, that's a
great that's a really important question because I
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think you know this. All this
strategy is is great in concept, but
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execution is just as important, if
not more important. As far as implementation,
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I think it depends a lot on
the business and sort of the current
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state and how things are going,
for example, there and they could be
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a spectrum right where I would recommend
to clients generally that they just pause on
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all of their advertising, assuming that
it's most almost none of its converting to
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customers. Again, that can be
really scary thing to hear as a leader
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of one of these companies. But
budget is not infinite from host companies and
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so I really encourage them to deploy
it when they have newer, creative and
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newer content that is more optimized for
consumption as opposed to, you know,
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conversion. So you could do you
could do a hard switch over. It
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depends how much buying you have.
You could also let some of the stuff
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you're doing keep, continue to run
as you sort of build up this library
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of newer assets or up cycled assets
and and that will hopefully give you just
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a little more time to feel like
you have the the the bandwidth to test
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and iterate as you're going. But
to you really need buy and no matter
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what, because it's like you're basically
starting from scratching a lot of ways in
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terms of the way you market took
to people, and that's going to take
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time to actually show in the market. Yeah, I think that buying is
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key and the way that you get
to buy in also is by just admitting
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that you're testing things right and that
continued test you're going to prove results over
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time. But also marketing gets this
view of being shiny and if we can
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be a little less shiny and just
show, Hey, this is what we
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tested on, this is what didn't
work, this is how we're iterating and
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changing, you gain trust and you
can do with that over time. Early
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I think that learning is actually one
of the best KPI's in marketing. As
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far as how effective it is is
obviously you know first and foremost, as
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is revenue, but short of that
is what are we learning like? What
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are we learning about our customers?
What are we learning about the marking that
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we're doing and us? As long
as there is this active feedback cycle where
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we are are gaining tangible learnings,
then I think that is a really good
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signal for leaders and executives. This
is a good conversation talking about adding friction
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intentionally, the right amount of friction
as marketers and we know that it's extremely
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important. Jacob, thanks for walking
US through this. You mentioned at the
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top consultant advisor for early stage tech
companies, but tell people, are there
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some ways that you would want those
that are interested to stay connected to the
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work that you're doing, or what
are ways that maybe someone with a question
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could reach out to you? Yeah, I'm on Linkedin, so you can
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you can find me. They're happy
to happy to chat and answer any questions
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anyone might have. Love it.
I am over on Linkedin. As well
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and would love to chat with listeners
on this up about this episode, about
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marketing or about business, about life. Always wanting to connect with with folks
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over there. So fantastic episode.
If you have yet to follow, be
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to be growth on whatever podcast platform
you're listening to the song, be sure
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to do that so you never miss
an episode. Will be back real soon
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with more content for you want to
help you continue to innovate and be the
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best you can be in your marketing
efforts. Keep doing work that matters and
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have a great one.