Growth Hacking; Today, I'd like to concentrate on small businesses and lead generation. You mentioned real estate; perhaps we should start there if that's a good place to start.
I suppose in real estate, for example, an agency's primary goal is to generate new listings. We all know that the majority of people looking for a real estate agent will visit RealEstate.com.
When you dig deeper and look at the Google AdWords tool and see how many people are actually typing in real estate-related keywords, you'll notice that a lot of traffic there ends up on RealEstate.com.
It actually comes from Google. If you use Internet marketing creatively, there's no reason why you can't bypass all the noise of what your competitors are doing and get leads directly from Google if you know how to use it properly.
I believe that most industries follow the same practices. I believe that being as specific as possible is the key to online success. That is, if you are a real estate agent in Toorak, you should target people who live in Toorak specifically, rather than Melbourne-wide.
If someone searches for a real estate agent in Toorak, there's no reason you shouldn't be at the top of the results. Yes, that is the quickest way for you to generate new listings online.
We have to prioritize because there are so many things we can do online, especially for small businesses.
It would be ideal if we could do everything and do AdWords, search engine optimization, remarketing, social media, and everything else in between, but we are a small business with a limited budget, so we must prioritize. I believe Google AdWords will provide you with the quickest return on investment.
Growth hacking framework
- Google adwords marketing.
- perception management and branding.
- Social media marketing.
- linked in advertising.
- Hubspot marketing.
- Mailchimp email marketing.
1. Google adwords marketing
Google AdWords driving people through to a conversion page of pre-qualified customers who put up their hand and call to buy a product, you typically put them on a salesperson who puts them through the CRM.
There are a lot of things going on there. You've got your AdWords generation page and your squeeze page, where you want to maximize the number of people who enter their phone number and e-mail address. Then you want to connect that to the CRM so the salespeople can call.
That is only one format. There are numerous other ways to structure a sales funnel to maximize the amount of revenue you generate. Obviously, there will be a cost-per-click, and it will vary by industry depending on how competitive that industry is.
We'll assume... let's say you're paying $2 per click. Every time someone clicks on your ad, you pay $2. How many visitors does that bring to your website per page? 500 people? Okay. Here's where your conversions come into play.
Let's say it converts to 10%, which is still pretty good; you get 15%. When I talk to business owners, I usually ask them, "How many do you think would end up doing business with you if you had 50 people call you who were interested in your product?"
Most people are pretty sure of themselves. "We'll close half of them," they'll say. In reality, wouldn't you say it's more like 30 percent?
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Let's say you make $15 in sales, and then you figure out how much each sale is worth to the company, and you've got a return on investment. If we know that each sale is worth a thousand dollars, then the figure at the bottom here must be 15,000, right?
Is a $15,000 return on investment acceptable if you put $1,000 into Google and received $15,000 in return?
The answer will be different for each business. No two businesses are alike, but if you're satisfied with these figures, there's no reason why you can't spend $10,000 and get $150,000 in return the next time. With this marketing mechanism, your company becomes very scalable.
This is how we grew PositionMEonline from four or five people in Perth to a national company with offices all over the country. The main focus for me is to become more advanced and sophisticated with my marketing because, in the end, everyone will be playing the AdWords game.
I'm focusing on customers who were squandering their money. When we implemented remarketing, we were able to... do you know what remarketing is?
What remarketing is?
That is... I may just explain this because I believe it is a very useful concept. You pay $2 to bring the customer to the website. The thing is, even if you only get 30% of those 500 visitors, you'll get 70% of customers who leave your website without leaving their information and you'll never see them again.
They arrived at the website and then left. We won't see them again, promise? If we can advertise to those clients offsite, we can potentially increase that number from 10%, 3%, or 4%... all of which are still healthy economics.
You have 1% because people are playing with space. If we're targeting people with offsite advertising, which is what remarketing is, we can put them back into the pipeline because they're already qualified to re-target because they visited your website.
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Consider this: if a customer visits your website and types in a keyword related to the product you're selling, they're generally much more targeted than Joe walking his dog down the street.
They're going to your website because they typed it into a search engine, so you should keep sending messages to that person because you don't know what's stopping them from purchasing.
This looks like a shady website; I might go back to the other competitor; my wife doesn't want me to spend that money... next week's check," they might think.
Remarketing allows you to re-target people and send them advertisements over time. It's far less expensive than a $2 CPC. Your CPC (Cost Per Click) for the GDN (Google Display Network) is much lower, so they are generally much better.
You can spend less money to generate more leads and convert them more effectively. The more sophisticated you become, the better you will be at it.
I believe we are competing with people all over the world, and that our products and services will be taken over at some point. That is a viewpoint that marketers must adopt.
2. perception management and branding
That's really interesting, so I despise discussing brands. I believe in direct response, putting $1,000 in the pipeline and getting $1,500 out. As a small business owner, that is... and as an entrepreneur, you may only have that much... not 10,000.
You might only have 1,000 or 2,000 in your bank account before you can't afford two-minute noodles, and that's the reality for some guys.
All they need to be able to do is pay the rent, buy two-minute noodles, and have an unlimited phone plan in order to carry out their business plans because... and that's exactly what they're looking at. Getting a 1,500 return on investment isn't the only way to maximize your investment.
It's all about the timeline. If I can spend it and get it back in 30 days instead of 90 days, I can re-invest it three times and potentially get three times the result if my fulfillment is there. Okay, it depends on what you're selling.
If your fulfillment is there and you work in a very frictionless environment, it's not just the 15 percent increase in ROI because that's just marketing. As an entrepreneur or small business owner, you must pay for all of your overheads, sales staff, and other expenses.
If you can turn a profit in 15 days, 30 days, or less, you can take the money you invested and reinvest it in the pipeline. It's not just about getting this number for me. If the timeframe is half, I will trade off 10x, 15x for 9x. That is astute marketing.
3. Social media marketing
I would not, however, ignore social media. It's an interesting area that's probably growing the fastest online. We received strong opinions on the world's social media gurus.
I frequently use social media as an analogy for the fact that it is not a direct response marketing strategy. It's similar to going on vacation and looking for a good restaurant to eat at.
You don't even have to leave your hotel to figure it out because Urbanspoon and TripAdvisor are here to help. There is no distinction in the business world.
People in your industry are doing similar things online, and what they are looking for is social proof. They go to Google to see if other people have endorsed your business online. Although you may not receive a direct response from Facebook, it is assisting you greatly with your overall sales conversion rate.
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I've done a lot of work with social media, and everyone thinks it's all about following best practices when responding to people. I've seen guys fail miserably at B2B. Social media platforms, such as Twitter and Facebook, perform exceptionally well.
When it comes down to an engineering firm you're not going to get that many likes because that's just not where people spend their time socially.
People that do exceptionally well are going to be celebrities, musicians, artistes, night clubs, restaurants. These are things that people like a lot.
That is just a list to me. It's a list of people who liked your page, just like a list of e-mail addresses or SMS numbers. It's just a different way to reach out to people.
Unlike real professionals, people now want to talk about the right-hand side column of Facebook advertising. Because you can target people who liked your page, this is a goldmine.
Assume you have 5,000 likes and want to specifically target people who like what you're doing. You have a page of people who like you. You can specifically target those 5,000 people with right-side advertising. That's a very responsive list.
4. linked in advertising
LinkedIn is fantastic for lead generation. Isn't it a $2 minimum CPC? LinkedIn is useful because you can target a company's size, industry, and job title.
Apart from mail and facts broadcast, I can't think of anywhere else where you can do that. If you are able to target, for example, dev ops or the head of development. It's possible that you'd like to connect with someone other than the head of IT.
These are the types of people you can target on LinkedIn. You want to run a CPC LinkedIn campaign on those, squeeze them onto a landing page... conversion page, maximize your... the details of people who are putting through, and then run a six-month remarketing campaign on them. I think if the CTOs are going to be quite good.
What Is Interruption Marketing?
It remains interruption marketing. "I don't click on advertisements because I just ignore them," everyone says. Everyone believes I possess this superpower. The thing is, good advertising is completely relevant to the user.
This happened to me just last night. Advertising is improving to the point where every advertisement will be about something I want to read about. We are both I'm not sure which one, but I was just watching a video about cameras.
It appeared with an advertisement on a slider, a new technology to me. The photography and videography available from the slider shown above are incredible. It's simply stunning.
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You've got each of these job titles within IT, you're targeting these people, and it's interruption marketing on the right-hand side, which is why Google AdWords is so powerful, but the competition will tear you apart.
Because each keyword represents a different demographic, the CPC will be high, and you'll need to spend weeks, if not months, optimizing to ensure you hit the right keywords and convert correctly.
Maybe another time I can give you a really good example. Each keyword represents a different demographic, and it takes weeks, if not months, to figure out how to convert it.
Make sure your conversion code is also present. LinkedIn is probably a good place to start. If you're using remarketing, AdWords would be fantastic, but keep in mind that this is a dollars game, a sales game, a conversion game, and then a margin game.
If your margins are high and your costs are low, if your conversions are... a few sales guys are converting higher, your lead generation page is converting higher, and your CLTV — customer lifetime value — is higher, either through retention selling then you're going to smash the market.
"The best competitive advantage you can have is to spend more to acquire a customer than anyone else," says Dave Kennedy.
If you can spend up to $500 to acquire a customer you can chew up AdWords' data. If your profit per customer is 100 to 200 dollars and your retention's less than six months you could get smashed. It actually takes you a good two to three, four, five years for these guys to consume your product.
5. Hubspot marketing
Hubspot is a marketing motivation platform. It's a little different, so you have Marketo, Hubspot, Eloqua, and these four platforms. Hubspot provides information on how many customers visit your website.
It enables you to do inbound marketing and gain insight into your customers. If they do not complete the form, they will receive this e-mail series. It's really... you should go see it.
These platforms can get quite pricey. It is an entire ecosystem for generating leads through content strategy, but it falls under marketing motivation and inbound marketing.
Eloqua, for example, costs between $8,000 and $10,000 per month, which is a lot of money unless you're targeting tens of thousands of people. When you start a small business, you begin a content lead nurturing process.
Signing up for something like or something like this is the simplest thing to do. I wouldn't even think about going down that road until you're at that point.
6. Mailchimp email marketing
It's possible that many of you aren't even doing basic things. If that's the case, starting with a service like or MailChimp is a great way to get started with some basic lead nurturing.
You've got things like AdWords, things like other sorts of advertising that are driving ROI. I actually wouldn't be doing this if the cash flow management is the big problem. If you're not going to be around in a month because it's that tight, I'll be focusing on whatever you can have.
I was learning SEO when I was 13 or 14 years old and even since then it's changed so much. I would always hire an agency, but like you guys were saying check the reviews. It's very compelling or interesting when you find out X company plus reviews and there's I would do your research.
Many people attempt to outrank Appster in our search results. That's difficult because we have a link to us in about ten major newspapers.
You must be a good company that receives media attention, is active on social media, and publishes regular content. What they want to do is to deliver incredible value to the people that are searching.
That's why they're still relevant today and that's why people use them. The USP is that, "When I start typing to Google it's going to give me the most relevant information possible"
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We're trying to build our sites into authority sites, so we're launching 42 of these sites around the world. The big challenge is how do you sustain that quality content?
It's a tough thing. It's very easy to say, "An app is a mobile application," which would be definition-based.
Best book about Growth Marketing
Growth Marketing Hack" written by Samir Saif.
The book argues that traditional marketing strategies are no longer effective in the digital age, and instead businesses must adopt a "growth hacker" approach in order to succeed.
This approach involves constantly looking for new growth opportunities, working with other teams within the company to drive growth, and using data and experimentation to improve marketing strategies.
The book covers a range of subjects related to growth hacking, such as how to develop a growth mindset, how to use data to make marketing decisions, and provides practical advice and tools for implementing a growth hacking strategy.
Overall, the book is intended to be a valuable resource for anyone interested in understanding the principles of growth hacking and how to apply them in their marketing efforts.
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