Mike Minutes Mastermind 02/01/2023

Welcome everybody to the mike minutes. Mastermind, let's go. I found this new toy. Let's go. It's just a joke. Don't worry. You won't have to listen to that every single day. That's gonna be what I'm using. I'm gonna use an NSC suite, unfiltered. I think Lee will love it. Okay, so let's go and get started. I gotta drop this link.

Give me a second here.

Rolling.

Copy.

I set the intro this morning. Okay, let's drop this into Facebook. If you're not part of the copilot or you're not following the copilot Facebook page, definitely feel free to do that. We are working on quite a bit of stuff in there. So I've been trying to update some screenshots. Fun stuff like that. Why can I see this in the Facebook group? There you go. Okay, drop the link in. Okay, here we go.

See? Questions came in. Perfect. All right, let's go get started. Sorry, it takes a minute just to get started now. Streamware just makes me where I have to copy the link in manually to the Facebook group, so. All right, we got a few questions that came in on here.

Lee was giving me a hard time the other day about my technical difficulties.

Okay, kick it off. First question comes from Nick in Marysville.

In relation to Connor's question yesterday about spending more on marketing and how that will subsequently raise his cost per lead while not proportionally delivering more leads. How would you go about finding that equilibrium point between cost and number of leads? Is it possible to find that number? I'm glad Connor brought this up because I have a similar plan increase my budget to get tons of mowing clients this spring. But I did not account for the fact that my.

Lead acquisition cost will.

So yeah, CPL is typically what's used cost per lead. I figured out the lead acquisition cost makes sense. Will increase as a result of that. Luckily, people are fast asleep in my market and I am basically competing against myself when I advertise. Yeah. So assuming this last part, you would have less friction as you move up that chart. And that's that if you move up that graphs incline, there'd just be less resistance, less of an incline if you have no one competing against yourself. Because then ultimately it just comes down to are there enough clicks for you to buy.

So that is true. If there's no one else advertising, then you kind of have a bit of a blue ocean where you are not going to have as much friction. However, in terms of finding an equilibrium point it's not really an equilibrium because it is fairly linear like it is. The more you spend, the more you're going to have in cost per lead. Like, if everyone here spent $5 a day on Google, your cost per per click would be like very, very low. Like, you'd probably, let's just for the sake of numbers, you'd probably be like 50 cents or a dollar per click. If you Change that to $10, it'll go up maybe 20 cents. If you change it to $100, it might go up like 20 or 30 cents. So it is just a matter of like, what are you willing to spend? And if you have competition, that incline that we were talking about yesterday, at which you are rapidly increasing, the amount of cost you're spending per lead goes up with the amount of people competing against you. And are they also all trying to market and spend money on advertising? Right. So I do feel like we're going to have a bit of a weird, it's just this weird conundrum where it's like you're in a recession, so theoretically there's going to be less demand. So therefore people will spend more on marketing. However, because, because they don't have the money to, they won't spend money on marketing. That's the first thing people will cut in a, in a, in a recession is their marketing spend because it's like straight from the bottom line. So it's, it could go both ways. I, I still think that people will cut their marketing budget first and they'll just be like, hey, this year we're not going to grow this year. We're just going to stay with the few guys that we do have or we can't hire, we can't find anybody to work for us. So we're just going to go back to being solo. We're not going to market, we're not going to advertise. So I feel like that's the way it could go. But in theory, when customer demand goes down, everyone should be marketing in order to fill up their funnel so they're not decreasing revenue. If attrition goes up, you need more customers. So I just don't feel like most people have the, the confidence in their marketing or the gut to withstand having a lower profit margin to be able to keep marketing during the times when it is really difficult.

Next question for Nick from Maryville. So after getting my business account back. Okay, so you're talking about your Google account because he lost it. What's it called? Not terminated. Suspended. So after getting my Business account back it went from my old address and changed this changed to service area. Yep. My Google Local Services shows on the top when you search Long Care Marriageville but does not show up under the Google my business listings when I search landscape or landscaping. Mary's will watch to. My Google Local Services doesn't show up and neither does my GMB. It looks like I 100% needed need to find a way to make the address stick. Otherwise I won't even rank higher than these people who aren't even getting close to us in the number of views and rating. Yeah, I've been saying this. It's increasingly important. I'm now getting to the point where the address on that map is almost as important as the reviews. Now it could potentially I could. I could have a case in some areas where I've seen it where it's more important than reviews, especially if you don't have a lot of competition. It seems like the map is the way to literally rank immediately as the number one. Now in terms of organic search below your listings and below your Google Local services, that's obviously having with SEO. But even that is increased massively because you're getting more clicks from your Google listing. This is mainly a PSA for anyone public service announcement for anyone trying to do this. Really, you need to have an address. My address before was outside my service area, but it was. But it still allowed me to rank at the top in my service area. Here's a couple of screenshots. Also I checked Landscaping is under my services so I should definitely, definitely show up for that search. Yeah, so keep in mind too when your account has been.

Oh man, I don't have my secondary screen. It's gonna be harder to show you guys these pictures. Just everything he said is he's sending screenshots of the fact that when he searched for Long Care Marysville, he's top of the Google Local services etc, but not inside of Google my my business or Google listings. I gotta get away from GOB because that's no longer a thing. It's Google listings.

So yeah, keep in mind, when you get suspended, I have seen this consistently Facebook, not Facebook. Google sort of quote unquote penalizes you and they won't push your page very much. Especially on Google my business or Google listings because that's actually where they're penalizing you. I've seen them kind of put people in like they won't say this, but I've seen this where you almost immediately drop them out. And even if they get their Page reinstated. It'll take several weeks to kind of get back into the good graces. I feel like this makes sense because if they're terminating people because of spam or because of fraud, you wouldn't want them just to fix something or, or tweak something and immediately it's jumping back up. So just keep that in mind, Nick. It might take a few weeks to kind of for it to repair, but definitely, definitely, definitely having a real address is important. If it's outside your service area, not great. But like Nick was saying here, you can still rank inside your service area. You've got to be very strategic on making sure the addresses are done correctly with the zip codes and the city names and you should be fine. Ideally though, you do get your address that you have for Google listing inside your service area are very close to it, especially inside the city name. The city name is the most important even if it's outside your service area. But like for example, Nixon Marysville. Even if he's targeting only some of Marysville but and his his address outside of his service area but inside of Marysville, still a very good thing from an SEO perspective. So just my two cents. I'm seeing this more and more and more as they shift away from Google my business and they shift over to Google listings. It's essentially becoming a Google Maps listing. That's what it is. So yeah, just a heads up on that. Good reminder.

Marcus from Redmond. I bought a truck under my name and not the business because it will be my since it will be my only vehicle to use both personally and for business. Now I can't get commercial auto insurance for the work truck. This is not under the business name. Would you recommend selling my truck to the business and pay the tax or can I get away with just general auto insurance policy? Thank you. Yeah. So as long as you did not get this truck gifted to you, you can just on because I know Washington state, Marcus. So just gift it to yourself. So put 0 as the purchase price and gift it from yourself to the business name. It won't charge you anything. Besides you have to get new plates so it'll cost you like 50 bucks. Just do that in any licensing place and you'll be fine. And especially when you're doing it from like yourself to your business, you'll have no problems. Sometimes they'll give you a bit of a look when you're like doing private party like yeah, yeah, we're friends and I'm just gifting. They know what's going on. You're trying to get around taxes and in some, some, some in Washington state, some department of licensing branches will actually only allow you to take the blue book price in terms of what's on that list when you're selling it because they know so many people that's gifted to get around taxes. But for you personally, just gift it from your personal name into the business. You'll be fine. You won't have to do any tax but you'll definitely want to make sure there's commercial auto. Don't, don't try to run it under your personal insurance. That is not advised.

Cool. I think that's all I got. If you did not watch yesterday's Mastermind, it was a really good one. Definitely check it out. Talking about cost per lead as it goes up as you spend more and then secondarily about making a video for February and using the one click estimate email as a way to tell your basically make sure your customers know that you're in your database, that you're prioritizing them and that you're gonna give them first dibs before you get really busy and throughout the year that you're actually proactively taking care of the people in your database over new customers. It's a great, great play. Like obviously this is something we've already always been doing in terms of creating the scarcity but the way that he framed it yesterday from Derek Duran was really good. Sounds like Monday he's gonna shoot the video so so he'll probably share that with everyone on the Facebook group. Thank you. As an idea but the logic of it yesterday that we covered is I feel really, really good and it puts more emphasis on the one click estimates. I feel like if you do that, obviously I have no data here whatsoever so I'm going to pull the number out of my head. I feel like your one click estimate emails will probably do 10 to 20% better just by sending that at the beginning of the year because now when they get the email they're like oh, the reason I'm getting this is because they're prioritizing me before they go market this to new customers. I think it's a great pitch. So really like the idea. And here's Connor already telling us. Oh, is this from yesterday? I know this is today. Look at that. Connor. Thank you. For those of you who don't know, Connor is a gm getting started out at one of my locations in North Carolina. He's, he came to conference so some of you met him but he's going through, he's going. He already gone through the past, like, three months and put the topics that are covered in each Mastermind, which. Which means if you go to Facebook group, you can use it as, like a search query. If there's a certain topic you want to think about or, you know, have a question about, you can search it now in the top bar and any Mastermind where I've talked about something having to do with that keyword will pop up. So big shout out to Connor. I appreciate that he's going to be doing that. Sounds like going forward. So much appreciated. All right, everyone, hope you have a fantastic rest of your day. Happy Wednesday and we'll see you tomorrow.