Neil Patel and Eric Siu explain why selling more to existing customers beats chasing new ones. They show how low-margin entry deals get your foot in the door, then expand across divisions once you're trusted. Amazon's acquisition of the SEO tool Alexa illustrates how agencies can grow accounts or lose them entirely.
Everyone in marketing is focusing on more traffic or increasing their conversion rates, but people forget the most basic thing, which is sell more. And a great example of this is you have your ABM software, people are interested in that. You try to also sell them on your agency services and vice versa. Let's land and expand. If you have a lead or you have a customer, Make more money from them than just selling them one thing. And we both use Legion Supplements, right? I've ate their protein bars for ages. I use their creatine, I use their fish oil. I've used so many of their products. It's land and expand.
Yeah. I do the same thing with this brand called Pure Encapsulations. So, their omega-3s, all their supplements. I have a bunch. It's either that one or Thorn. It's those 2, right? And then the protein bars are either Legion or David Bars. But then the David Bars, it was one flavor, I've expanded into 4 flavors, right? But I think, by the way, this will go back into why you lose sales deals too. So, sometimes when I listen to some Gong calls, I'm like, the reason we're losing these too goes back to confidence, but we confuse the pricing so much and we try to sell everything at once.
Yeah, yeah.
And we come off desperate. It comes off really confusing and it scares people because there's sticker shock too, right? Sometimes if it's a really big one and if it's an enterprise company and they're like, hey, we want to do a pilot with you guys. Sometimes you take that bet because those small ones can become really big.
Yes, if it's the right brand, the right division, the right department, and you know you can expand it, especially you're going through divisions or departments like procurement.
Yeah.
If you can get in the door, even if it's really small and not worth it right now, 3 years from now, it can be worth it. And I love those type of deals because if you're going through all those hoops to just get the initial contract, those Contracts usually last for a long time because because not many other people are going to go through the hoops, right?
And sometimes procurement takes like nine to twelve months.
Yes.
So that's that's what we're dealing with with with with carrot. So yeah.
And when you're dealing with some of these long procurement ones, keep in mind they know internally to switch you out may take nine to twelve months. So they just want to pick a vendor that works and they want to stick with it for once you're in. You're in.
You know this happened a long time ago when we had Amazon. So we You remember Alexa? Not the actual speakers, but the SEO tool. So Amazon had bought Alexa.
Wait, does that still exist?
Alexa.com? No, it's dead. It's dead.
You're telling me they got rid of the website?
They shut it down. Yeah, I think they shut it down. I'm sure Alexa.com is still around.
Dude, there's Alexa.com. Learn about Alexa features, skills, and products. I don't know why they just don't take you to the device.
They should just take you to the device.
That's so dumb.
So they had a thing called Alexa, which they acquired, which is an SEO tool back in the day. And so we were helping them with that. And then they had signed another agency to help them with running ads for Amazon Ads. And that agency took forever to get through procurement. So they're like, hey, you guys are through anyway, why don't we just put you on that? So then we helped, we ended up running ads for Amazon Ads. And I think we got into another division. But point is, once you're in, you're in. And the thing, the reason why we— this is a long time ago. The reason why we ended up losing Amazon, they're like, dude, we really like working with you guys, but you just don't have enough services. And so it's like, Neil's brought this point up before, you want to have as much as possible so you can lock in and also be more reliable because they would just want someone to be reliable. You don't even need to be the best at everything. You can be pretty good, so.
And the moment you get multiple services into a company, the stick rate is much better and the churn goes down.
LinkedIn ads are great, but let me give you the bad news first. The bad news is that you can't personalize the ads and you can't scale out the ads as quickly. The good news is if you're in the B2B space, you're doing account-based marketing, we have a solution for you called Karrot. That's K-A-R-R-O-T. And the good news is that you can create a lot of these campaigns with the click of a button. You can personalize the ads. And there's a whole host of new things that are coming. If you want to get on the waitlist, just go to carrot.ai. Again, it's carrot.ai, and we'll see you on the other side.
People believe that, oh, if someone's paying you, let's keep the math simple, $10,000 a year for one thing, and they last for a year, and if you get them to pay for another service, that's another $10,000, and a third one, that's another $10,000. So now they'll just pay you $30,000, and that's what you get for the year. But what they don't realize is Now that they're using you for multiple things, they usually don't pay you for a year. A year turns into 2 years or 3 years, and that's turned into a $60,000 or $90,000 account versus a $10,000 account.
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