Marketing School With Neil Patel and Eric Siu

In episode #723, Eric and Neil count out the 7 lessons they learned from running software companies. Tune in to hear what lessons apply to your business.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: 7 Marketing Lessons We Learned From Running Software Companies
[00:43] A lot of the lessons Eric and Neil learned, could work for ecommerce and other internet-based businesses.
[01:05] #1: It’s not all about the conversion plan. Optimize for lifetime value.
[01:25] People typically pay for software on a month-to-month or annual basis and people often have to renew plans; this is a consistent revenue stream.
[02:17] #2: It’s all about on-boarding.
[02:40] First impressions matter and that applies to software, as well.
[02:53] #3: You end up losing about 5% of your revenue because user’s credit card numbers expire.
[03:08] To fix this, companies like GoDaddy sign up for a service called Visa and Mastercard Updater; Visa and Mastercard will automatically update user’s credit card details for a small fee.
[03:50] #4: Use the “Jobs to be done” framework.
[04:40] Set aside time for customer development.
[04:48] #5: You only have one shot with customers. If someone uses your product and doesn’t like it, they will never come back.
[05:07] First opinions tend to stick in the software world.
[05:42] BuzzSumo and AHREFS did well because they created exceptional products.
[06:30] #6: Get your pricing right!
[07:03] Everyone is going upmarket. Charge for the value you think you are delivering.
[07:23] #7: Pay attention to market trends and conditions.
[07:30] KissMetrics was getting trounced by a competitor and didn’t adapt quickly enough.
[08:01] That’s it for today!
[08:03] If you could take two minutes out of your day, we are trying to improve the listening experience for you, so go to Singlegrain.com/survey and help us gain some insight into what matters to our listeners.

——

►Subscribe to my Channel: http://youtube.com/subscription_center?add_user=gogrowtheverywhere

►Eric's Instagram:
https://www.instagram.com/ericosiu/

►Growth Everywhere Instagram:
https://www.instagram.com/growth_everywhere/

————

Want to learn the SEO tactics that AirBnB, Lyft, and Heineken use to drive millions of site visits a month? Download the case study now: https://www.singlegrain.com/res/digital-marketing-agency/case-studies/

Leave some feedback:
• What should I talk about next? Please let me know on Twitter - https://twitter.com/ericosiu or in the comments below.
• Enjoyed this episode? Let me know your thoughts in the comments, and please be sure to subscribe.

Connect with Eric Siu:
• Growth Everywhere Podcast - http://www.growtheverywhere.com/
• Marketing School Podcast - https://www.singlegrain.com/marketing...
• Single Grain - Digital Marketing Agency - http://www.singlegrain.com/
• Twitter https://twitter.com/ericosiu

Support Neil's Channel:
• https://www.youtube.com/user/neilvkpatel

In episode #724, Eric and Neil discuss the channel you aren’t leveraging. Tune in to hear what new channel you need to try.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: The 11 Billion Dollar Marketing Channel You Aren't Leveraging (But Should)
[00:35] You aren’t leveraging the App Store!
[00:38] Apple reported they have generated over $11 Billion in revenue from the App Store.
[00:46] The Google App Store adds in even more revenue.
[01:00] However, so few people are creating apps for their sites or products.
[01:18] If you’re not on there, you are losing out!
[01:35] It’s not a competitive space.
[01:50] If you want more traffic, look for channels that are still growing.
[02:10] A mutual friend of Eric and Neil’s used WP to build an app.
[02:21] WP is how Marketing School and Growth Everywhere have apps.
[02:40] Google Momentum is a great productivity add-on.
[02:55] They just figured out how to start monetizing it.
[03:30] Eric and Neil will try to leverage new channels all the time. If they don’t work, it’s not a big loss.
[03:58] Look for tools like Buildfire, which will help you easily create and leverage an app in about an hour.
[04:13] That’s it for today!
[04:17] If you could take two minutes out of your day, we are trying to improve the listening experience for you, so go to Singlegrain.com/survey and help us gain some insight into what matters to our listeners.

——

►Subscribe to my Channel: http://youtube.com/subscription_center?add_user=gogrowtheverywhere

►Eric's Instagram:
https://www.instagram.com/ericosiu/

►Growth Everywhere Instagram:
https://www.instagram.com/growth_everywhere/

————

Want to learn the SEO tactics that AirBnB, Lyft, and Heineken use to drive millions of site visits a month? Download the case study now: https://www.singlegrain.com/res/digital-marketing-agency/case-studies/

Leave some feedback:
• What should I talk about next? Please let me know on Twitter - https://twitter.com/ericosiu or in the comments below.
• Enjoyed this episode? Let me know your thoughts in the comments, and please be sure to subscribe.

Connect with Eric Siu:
• Growth Everywhere Podcast - http://www.growtheverywhere.com/
• Marketing School Podcast - https://www.singlegrain.com/marketing...
• Single Grain - Digital Marketing Agency - http://www.singlegrain.com/
• Twitter https://twitter.com/ericosiu

Support Neil's Channel:
• https://www.youtube.com/user/neilvkpatel

In episode #723, Eric and Neil count out the 7 lessons they learned from running software companies. Tune in to hear what lessons apply to your business.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: 7 Marketing Lessons We Learned From Running Software Companies
[00:43] A lot of the lessons Eric and Neil learned, could work for ecommerce and other internet-based businesses.
[01:05] #1: It’s not all about the conversion plan. Optimize for lifetime value.
[01:25] People typically pay for software on a month-to-month or annual basis and people often have to renew plans; this is a consistent revenue stream.
[02:17] #2: It’s all about on-boarding.
[02:40] First impressions matter and that applies to software, as well.
[02:53] #3: You end up losing about 5% of your revenue because user’s credit card numbers expire.
[03:08] To fix this, companies like GoDaddy sign up for a service called Visa and Mastercard Updater; Visa and Mastercard will automatically update user’s credit card details for a small fee.
[03:50] #4: Use the “Jobs to be done” framework.
[04:40] Set aside time for customer development.
[04:48] #5: You only have one shot with customers. If someone uses your product and doesn’t like it, they will never come back.
[05:07] First opinions tend to stick in the software world.
[05:42] BuzzSumo and AHREFS did well because they created exceptional products.
[06:30] #6: Get your pricing right!
[07:03] Everyone is going upmarket. Charge for the value you think you are delivering.
[07:23] #7: Pay attention to market trends and conditions.
[07:30] KissMetrics was getting trounced by a competitor and didn’t adapt quickly enough.
[08:01] That’s it for today!
[08:03] If you could take two minutes out of your day, we are trying to improve the listening experience for you, so go to Singlegrain.com/survey and help us gain some insight into what matters to our listeners.

——

►Subscribe to my Channel: http://youtube.com/subscription_center?add_user=gogrowtheverywhere

►Eric's Instagram:
https://www.instagram.com/ericosiu/

►Growth Everywhere Instagram:
https://www.instagram.com/growth_everywhere/

————

Want to learn the SEO tactics that AirBnB, Lyft, and Heineken use to drive millions of site visits a month? Download the case study now: https://www.singlegrain.com/res/digital-marketing-agency/case-studies/

Leave some feedback:
• What should I talk about next? Please let me know on Twitter - https://twitter.com/ericosiu or in the comments below.
• Enjoyed this episode? Let me know your thoughts in the comments, and please be sure to subscribe.

Connect with Eric Siu:
• Growth Everywhere Podcast - http://www.growtheverywhere.com/
• Marketing School Podcast - https://www.singlegrain.com/marketing...
• Single Grain - Digital Marketing Agency - http://www.singlegrain.com/
• Twitter https://twitter.com/ericosiu

Support Neil's Channel:
• https://www.youtube.com/user/neilvkpatel

In episode #722, Eric and Neil discuss what you should do when a social network stops driving traffic to your site. Tune in to hear what your options are.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: What You Ought to Do When a Social Network Stops Driving You Traffic
[00:40] Neil has close to a million Facebook followers. When he had a few hundred thousand, he spent $400,000 on Facebook ads to gain a “shitload” of new followers.
[01:10] Neil thinks of Facebook like a well. You want to have your own well, so you can keep getting water without spending money.
[01:40] Neil’s strategy worked for a very long time, then Facebook changed their algorithm.
[02:55] Twitter was better in the past, but overall the user growth hasn’t been great lately.
[03:16] If you are able to build your own email list, you control that at the end of the day.
[03:40] The cool part about Google is that they have learned not to penalize links, they just don’t count bad ones.
[04:15] The possibilities are endless and you should leverage more than just one channel.
[04:44] Eric went from 4000 Twitter followers to 10,000, but traffic coming to his site has gone down.
[05:07] Just because you are on these channels and your follower count is growing, doesn’t mean that you are going to do well.
[05:20] Look for the social network or channel this is starving for your content.
[05:49] That’s it for today!
[05:58] If you could take two minutes out of your day, we are trying to improve the listening experience for you, so go to Singlegrain.com/survey and help us gain some insight into what matters to our listeners.
[06:33] Go to Singlegrain.com/Giveaway for a special marketing tool giveaway!

——

►Subscribe to my Channel: http://youtube.com/subscription_center?add_user=gogrowtheverywhere

►Eric's Instagram:
https://www.instagram.com/ericosiu/

►Growth Everywhere Instagram:
https://www.instagram.com/growth_everywhere/

————

Want to learn the SEO tactics that AirBnB, Lyft, and Heineken use to drive millions of site visits a month? Download the case study now: https://www.singlegrain.com/res/digital-marketing-agency/case-studies/

Leave some feedback:
• What should I talk about next? Please let me know on Twitter - https://twitter.com/ericosiu or in the comments below.
• Enjoyed this episode? Let me know your thoughts in the comments, and please be sure to subscribe.

Connect with Eric Siu:
• Growth Everywhere Podcast - http://www.growtheverywhere.com/
• Marketing School Podcast - https://www.singlegrain.com/marketing...
• Single Grain - Digital Marketing Agency - http://www.singlegrain.com/
• Twitter https://twitter.com/ericosiu

Support Neil's Channel:
• https://www.youtube.com/user/neilvkpatel

In episode #721, Eric and Neil count out 7 simple SEO tactics. Tune in to hear what you should be doing on your site.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: 7 Dead Simple SEO Tactics That Still Work Today
[00:33] #1: Upgrade your content.
[00:40] Look at Wikipedia and Trip Advisor: there is constantly updated user content.
[01:01] #2: Google Correlate.
[01:04] It’s a great tool for keyword research.
[02:06] #3: The Skyscraper Technique.
[02:15] Go out and look for top five posts about a certain keyword.
[02:30] Make content that improves upon the original resource.
[02:41] #4: Infographics.
[02:50] KissMetrics was popular because of their use of this visual content.
[03:07] Go to BuzzSumo and look at the popular articles in your field and create infographics about the material.
[03:43] #5: Use Google Search Console.
[03:50] Look at top pages and top keywords that are ranking.
[04:00] Add any keywords you don’t have.
[04:08] #6: Use Google Search Console to search for top keywords. Integrate the most popular keywords.
[04:50] #7: Go out and look at what content you can delete.
[05:25] You can drive traffic this way or possible even lose traffic.
[05:40] Neil thinks you should keep old content and just add updated versions.
[05:46] That’s it for today!
[05:49] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

——

►Subscribe to my Channel: http://youtube.com/subscription_center?add_user=gogrowtheverywhere

►Eric's Instagram:
https://www.instagram.com/ericosiu/

►Growth Everywhere Instagram:
https://www.instagram.com/growth_everywhere/

————

Want to learn the SEO tactics that AirBnB, Lyft, and Heineken use to drive millions of site visits a month? Download the case study now: https://www.singlegrain.com/res/digital-marketing-agency/case-studies/

Leave some feedback:
• What should I talk about next? Please let me know on Twitter - https://twitter.com/ericosiu or in the comments below.
• Enjoyed this episode? Let me know your thoughts in the comments, and please be sure to subscribe.

Connect with Eric Siu:
• Growth Everywhere Podcast - http://www.growtheverywhere.com/
• Marketing School Podcast - https://www.singlegrain.com/marketing...
• Single Grain - Digital Marketing Agency - http://www.singlegrain.com/
• Twitter https://twitter.com/ericosiu

Support Neil's Channel:
• https://www.youtube.com/user/neilvkpatel

In episode #720, Eric and Neil discuss why marketers overspend. Tune in to hear why you are spending too much money.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: You're Spending Too Much Money!
[00:40] In marketing, everyone is about spending money.
[01:15] When people hit Eric up, they are looking for advertising and SEO, but rarely conversion rate optimization.
[01:40] SEO and content marketing are the best or most popular services.
[01:57] If you're spending all this money on marketing, why wouldn’t you hire someone to reduce your expense by cutting the fat?
[02:12] Hire someone full-time to just do conversion rate optimization.
[03:00] Consider ways your office space can produce revenue.
[03:22] AWS did $12 Billion in revenue.
[03:35] Take the expense you have and figure out creative ways to make them profit-generating machines.
[03:50] Example: your office could be an event space.
[04:10] Optimize to get more out of your resources.
[04:20] Be more creative with how you spend your money,
[04:50] Eric and Neil love marketing so much because there is so much room for creativity.
[05:25] That’s it for today!
[05:28] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

——

►Subscribe to my Channel: http://youtube.com/subscription_center?add_user=gogrowtheverywhere

►Eric's Instagram:
https://www.instagram.com/ericosiu/

►Growth Everywhere Instagram:
https://www.instagram.com/growth_everywhere/

————

Want to learn the SEO tactics that AirBnB, Lyft, and Heineken use to drive millions of site visits a month? Download the case study now: https://www.singlegrain.com/res/digital-marketing-agency/case-studies/

Leave some feedback:
• What should I talk about next? Please let me know on Twitter - https://twitter.com/ericosiu or in the comments below.
• Enjoyed this episode? Let me know your thoughts in the comments, and please be sure to subscribe.

Connect with Eric Siu:
• Growth Everywhere Podcast - http://www.growtheverywhere.com/
• Marketing School Podcast - https://www.singlegrain.com/marketing...
• Single Grain - Digital Marketing Agency - http://www.singlegrain.com/
• Twitter https://twitter.com/ericosiu

Support Neil's Channel:
• https://www.youtube.com/user/neilvkpatel

In episode #719, Eric and Neil discuss the efficacy of midrolls. Tune in to hear whether you should drop the midrolls or keep them.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: Do Midroll Ads Really Work?
[00:40] In podcasts, there are always ads in the middle of the show.
[00:50] Most podcasters use this format, where they run ads in the beginning, middle, and the end.
[01:35] Eric was looking at their Apple Podcast retention rates.
[01:50] Becauses Growth Everywhere has a midroll, he checked the retention rates.
[02:09] He lost 50% of people at the midroll, but it increased after the ad.
[02:30] So, keep your midrolls, because people will just skip them, but will continue to listen and stay engaged.
[03:20] Perhaps create a customized landing page to increase ROI.
[03:50] Andrew Warner integrates his ads into the podcast episode, which increases sign-ups.
[04:22] If you auto-insert ads, people will skip them. If you pay people for custom plugs, that will generate more revenue.
[05:12] What Warner does is “native advertising”.
[05:30] This way makes it less predictable.
[05:50] That’s it for today!
[05:56] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

——

►Subscribe to my Channel: http://youtube.com/subscription_center?add_user=gogrowtheverywhere

►Eric's Instagram:
https://www.instagram.com/ericosiu/

►Growth Everywhere Instagram:
https://www.instagram.com/growth_everywhere/

————

Want to learn the SEO tactics that AirBnB, Lyft, and Heineken use to drive millions of site visits a month? Download the case study now: https://www.singlegrain.com/res/digital-marketing-agency/case-studies/

Leave some feedback:
• What should I talk about next? Please let me know on Twitter - https://twitter.com/ericosiu or in the comments below.
• Enjoyed this episode? Let me know your thoughts in the comments, and please be sure to subscribe.

Connect with Eric Siu:
• Growth Everywhere Podcast - http://www.growtheverywhere.com/
• Marketing School Podcast - https://www.singlegrain.com/marketing...
• Single Grain - Digital Marketing Agency - http://www.singlegrain.com/
• Twitter https://twitter.com/ericosiu

Support Neil's Channel:
• https://www.youtube.com/user/neilvkpatel

In episode #718, Eric and Neil discuss the reason people don’t buy from your site. Tune in to hear what could be blocking your conversions.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: The Number 1 Reason People Don't Buy From Your Site
[00:52] 95-99% of visitors will not convert and this happens because your website is pitching too much and you are not answering objections.
[01:23] If you don’t answer people’s objections, you are not going to increase your conversion rate.
[01:36] Google Russell Brunson/Grant Cardone 10X speech.
[01:45] As they pitch, they talk through objections.
[02:32] This pitch created a buying frenzy.
[02:48] Pamphlets were also put under people’s seats.
[02:57] At Crazy Egg, they ended up hiring a company called Conversion Rate Experts.
[03:06] They had an amazing consultant, John Jack.
[03:22] John suggested they answer objections on their site; they followed his advice and conversion rates went up.
[03:35] If you are not sure how to answer objections, survey your customers.
[03:52] Look for the most common responses.
[04:10] Crazy Egg has objection handling on their pricing page, checkout page, etc.
[04:40] That’s it for today!
[04:42] Go to Singlegrain.com/Giveaway for a special marketing tool giveaway!

——

►Subscribe to my Channel: http://youtube.com/subscription_center?add_user=gogrowtheverywhere

►Eric's Instagram:
https://www.instagram.com/ericosiu/

►Growth Everywhere Instagram:
https://www.instagram.com/growth_everywhere/

————

Want to learn the SEO tactics that AirBnB, Lyft, and Heineken use to drive millions of site visits a month? Download the case study now: https://www.singlegrain.com/res/digital-marketing-agency/case-studies/

Leave some feedback:
• What should I talk about next? Please let me know on Twitter - https://twitter.com/ericosiu or in the comments below.
• Enjoyed this episode? Let me know your thoughts in the comments, and please be sure to subscribe.

Connect with Eric Siu:
• Growth Everywhere Podcast - http://www.growtheverywhere.com/
• Marketing School Podcast - https://www.singlegrain.com/marketing...
• Single Grain - Digital Marketing Agency - http://www.singlegrain.com/
• Twitter https://twitter.com/ericosiu

Support Neil's Channel:
• https://www.youtube.com/user/neilvkpatel

In episode #719, Eric and Neil discuss the efficacy of midrolls. Tune in to hear whether you should drop the midrolls or keep them.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: Do Midroll Ads Really Work?
[00:40] In podcasts, there are always ads in the middle of the show.
[00:50] Most podcasters use this format, where they run ads in the beginning, middle, and the end.
[01:35] Eric was looking at their Apple Podcast retention rates.
[01:50] Becauses Growth Everywhere has a midroll, he checked the retention rates.
[02:09] He lost 50% of people at the midroll, but it increased after the ad.
[02:30] So, keep your midrolls, because people will just skip them, but will continue to listen and stay engaged.
[03:20] Perhaps create a customized landing page to increase ROI.
[03:50] Andrew Warner integrates his ads into the podcast episode, which increases sign-ups.
[04:22] If you auto-insert ads, people will skip them. If you pay people for custom plugs, that will generate more revenue.
[05:12] What Warner does is “native advertising”.
[05:30] This way makes it less predictable.
[05:50] That’s it for today!
[05:56] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

——

►Subscribe to my Channel: http://youtube.com/subscription_center?add_user=gogrowtheverywhere

►Eric's Instagram:
https://www.instagram.com/ericosiu/

►Growth Everywhere Instagram:
https://www.instagram.com/growth_everywhere/

————

Want to learn the SEO tactics that AirBnB, Lyft, and Heineken use to drive millions of site visits a month? Download the case study now: https://www.singlegrain.com/res/digital-marketing-agency/case-studies/

Leave some feedback:
• What should I talk about next? Please let me know on Twitter - https://twitter.com/ericosiu or in the comments below.
• Enjoyed this episode? Let me know your thoughts in the comments, and please be sure to subscribe.

Connect with Eric Siu:
• Growth Everywhere Podcast - http://www.growtheverywhere.com/
• Marketing School Podcast - https://www.singlegrain.com/marketing...
• Single Grain - Digital Marketing Agency - http://www.singlegrain.com/
• Twitter https://twitter.com/ericosiu

Support Neil's Channel:
• https://www.youtube.com/user/neilvkpatel