Improving Your Company’s Digital Presence

How much more successful would you be if you had lunch once a week with insanely successful entrepreneurs who share their biggest secrets on how they think and achieve success? Grab your seat at the table because this is business lunch with Roland Frazier and Ryan Deiss.

Hey, Ryan Deiss here. You know, it's been a while since I've run the day to day for Digital Marketer, the company that Roland and I are partners in. Fortunately, we have a great team and great partners who help us with all that nitty gritty stuff now. But the one thing that we focused on while I was there and the one thing the team still focuses on to this day is optimizing everything. I'm talking testing everything from the sales copy to the color of the checkout button. Testing like this can have a huge impact on your bottom line. But the truth is it takes a lot of time and a lot of resources. And half the time we were just throwing stuff against the wall just to kind of see what's stuck. But the good news is you don't have to figure everything out on your own anymore. And that's because our friends at Conversion Fanatics have optimized hundreds of sites in all types of industries, from small startups to Fortune 500s. And now they can handle all your testing and optimization for you too. So if you feel stuck when it comes to optimizing your website, go and visit conversion fanatics.com and they'll give you a list of custom suggestions to optimize your site 100% free. Once again. You can find them at ConversionFanatics.com.

Hey, Roland Frazier here and I want to share with you today some thoughts on how you can help your business to grow using digital marketing. I get a lot of questions about this, probably because Digital Marketer is one of the companies that I own along with my business partners Ryan Deiss and Richard Lindner. And so we teach people how to do digital marketing all the time. The first question is, how does consistent branding help your business? Well, here's the deal is if you think about the reason that companies. There's two types of marketing that most companies do. One is called direct response marketing. This is when you're putting out content or an ad or something like that with the intent of having somebody look at it and do something. And so typically at the end of any of those kinds of messages, we have a thing called a cta, which is a call to action. So a CTA is great and it's cool because we can measure how much we spent on that ad and Then we can see how many sales came in as a result of it by using a unique phone number or a unique web URL, web address or some other tracking. There's also pixeling that can be done, but, but ways to track how many people came in that saw that ad in that place that we ran it, that we paid for and bought stuff. And then we can calculate something called roas or return on ad spend and find out like, did it make sense to do that? Did enough people take the action that we wanted to actually have a profit? And the other kind of advertising is called branding advertising or branded advertising. And it differs from direct response ads in that with branded ads, you actually want just people to have the name of your company or brand or product top of mind. So you're putting out ads and you don't really intend for somebody to see that ad and go, oh, I'd like to have a Coke, or oh, I'd really like to buy that thing. You, more than that, want them just to say, oh yeah, that's Coke, I like Coke. Or that's McDonald's. I know McDonald's, right? You don't typically run out when you see the ad and go, I need to eat at McDonald's right now. So the same is true for your products and services that there are two kinds of things that you want to put out into the world. One, direct response, you definitely like that because it generates money. But in addition to that, branded advertising or branding can really build up value because it's something that's in people's mind. And then whenever they decide that they need a thing like you sell, then they, they're looking into their mind and saying, where am I going to get that thing? Oh, it's, it's your product, right? It's, it's the brand that I've seen that's something I've seen a lot. It does a couple of things. Some, some of the advantages it gives people not only top of mind, but it gives them confidence that that's something they've heard of. So it's a familiarity by seeing it over and over and over. It's something that gets into their mind and they're like when they're looking at five different products to choose from, whether on a shelf in a store or on an e commerce site or wherever, and they, four of them, they've never heard of and one of them they've been hearing ads regularly for, then they're most likely to take advantage of the one that they know. So know like and Trust is something that we all consider when we're making a choice to buy something. So in addition to that, the loyalty or the reinforcement of loyalty from people that have maybe forgotten about the product, that maybe they purchased the product in the past, they used it, they liked it. But that's not something that they use regularly, monthly, weekly. It's not something they're regularly rebuying. But if it's something that they see over and over, it can make them feel better having bought the thing that they bought and reduce buyer's remorse. So that's another good benefit that you can get from branding. Those are the three biggest ones. Now there's when you go to purchase a company or purchase an asset, if it's a brand that already exists, or if you're purchasing, you're purchasing the brand itself, if it's a brand that already exists, then you may be able to take advantage of the brand equity or the brand awareness that people have from dollars that have been spent or pounds or euros that have been spent on this thing in the past to keep it in their mind and make it be something that they would want to buy or, or apply that brand to a different type of product. So one of our friends, Tai Lopez, does this. He buys these things called zombie brands. So a company that goes out of business, like Pier 1 Imports in the United States or Radio Shack or Stein Mart, these are all companies that went bankrupt. And then he went out and acquired the brands. And so then he takes that brand name that somebody else has spent, some other company that just didn't make it, but they spent tens or hundreds of millions of dollars on that brand, getting it into the psyche of the potential customer. So people are all aware of that. And then he puts that brand on other products that aren't like that weren't manufactured by that company, but now he has the brand and he puts it on his products. And one example that I heard about was that he was selling products on an E. Commerce site and they were generic products and he was competing with other generic product companies. And then when he bought Radio Shack, he put Radio Shack branding on the products and was able to sell them for two to four times more. So that's a pretty significant and direct benefit that you can have from using a brand. So I think that being consistent with your brand message, therefore, is really, really important and being consistent in also having branded ads, not just direct response ads. Another question that people ask is how does customer interaction help with outreach? So the first thing is you might say, well, what does Somebody mean when they're asking that question. So outreach is, and I think it's really when people ask that question, they're really thinking about reach. Like, and reach means how many people are going to see your message. So, so online we have reach as a statistic. And so when you're publishing content, you get reports back from the platforms that you're publishing the contents on that say your message reached this many people. Now what's interesting is the longer that you produce content, the greater the reach that you're likely to have. And reach can be something that is people who are seeing your initial thing that you send out. So a good example of that would be say a magazine subscription. So magazines will say they've got a reach of maybe 10 million people even though they've got a subscribership of only 1 million. And that's because there are pass alongs. And so the people get the magazines and they read them and then they put them out on their coffee tables or in their offices or they share them with friends and, and they get passed around 10 times. And therefore the reach of that magazine is 10 times its subscribership. Similarly, on YouTube and TikTok and other social media platforms, we might have a reach that's significantly greater than the number of subscribers that we've got because other people are sharing. It might even be a reach that's greater than the number of views that we've got because a lot of times in my household, my sons will say, hey, let's check, we want to share this video with you. And there'll be four or five or six people in the room and we'll pull it up on Apple TV or they'll pass the telephone around and say, you know, show it to them. And so then even though it's only one view, there's six people or eight people or five people or four people watching it. And so the reach of the video goes far beyond the view. So you've got to think about that when you're considering what is my reach versus like am I really getting my message out enough? And so looking at reach statistics can be very helpful because a lot of times those are extrapolated and they are assuming based on the stats of pass arounds, secondary views, multiple viewers, that kind of thing, how many people are actually being exposed to whatever content or message you've got. So that's something that you definitely want to think about. And the more viral, the more interesting, the more easily you make it from people to pass things along and share with other people. The greater your reach is going to be. So it's something that you definitely want to have in your mind when you're designing that kind of stuff. And the more that people interact with the content you have, this is the customer interaction part of that question, the more that people are interacting with it by liking it or sharing it with a share button, not just showing it to somebody on their screen or even commenting, the more engaged the audience is, is considered to be by all of the powers that be that make a decision on how many more people are we going to show this to? And when they see a lot of interaction from your customers or your viewers or your subscribers, then they're more likely to open the floodgates and say, hey, this is something people are actually interested in, because look at the engagement here. And with that kind of engagement, then you're likely to get promoted into higher levels of reach. And that therefore means that more people will see your message and more people can take action on it. If nothing else, at least you will be more top of mind from a brand standpoint. So the next question I get a lot is why is online marketing more affordable than traditional marketing? And is it more affordable? Well, sometimes it is and sometimes it isn't. Traditional marketing, which we would consider advertising on the major media, which would be television, radio, and print. That's really what traditional media is generally considered. So what does it cost to reach people on television? Television is super expensive, and it's a shotgun blast because there's typically not a lot of data. At least traditionally there's not been a lot of data about who's actually getting to see those messages. You know that if you advertise on a fishing show and, and you have a fishing product, it's a pretty good chance that the people who are watching the fishing show are going to be fisher people. At least they're going to be. They're either going to be people who fish or people who like fishing or people who know people who fish. Otherwise they wouldn't be watching that show. But on a broader level, if somebody's watching Game of Thrones or something like that, and there was to be an ad that came up, then we have no idea, really. I mean, we can guess what kind of people watch that program based on some raw, rough demographic data that the, the platform might have. But we really don't know anything beyond that as to their specific interests. And because of privacy concerns, especially lately, you see Apple, Facebook, Google, all the big incumbent tech companies are increasing the level of privacy, which means that they're reducing the ability for advertisers to be able to target people directly based on specific interests. That's, that's become considered a little too creepy and people don't like that. So, so laws are making them move back and then voluntarily they're also moving back on that. So one thing that becomes increasingly important in traditional marketing is to figure out who is watching the shows or listening to the radio or reading the publications that you're advertising in. Now those prices have fallen a bit over time in terms of the rate at which they're increasing in cost, but that's largely because their readership, their viewership is falling, their subscribers are falling off. And that's as a direct result of the competitiveness of the Internet. Now one thing that's really interesting is that a lot of radio and print and television shows are appearing online. And so they're showing up online in addition to being in those traditional channels. And the pricing can vary, but then we get to how does online marketing compare in costs to that and is it really cheaper? Because a lot of people say, say that it is. The truth is that it can be much more expensive depending on how drilled down you are into the audience you want. And again, with all the privacy changes, we're going from the ability to target people very, very specifically to where we're actually having to be much more general and advertise to broader audiences. So the, the line is kind of moving around right now. So I wouldn't say that I would expect to find cheaper online advertising and marketing opportunities than I would with traditional media. As a matter of fact, as television and radio move to demand side platforms, meaning that you can go online and you can select the television shows and audiences that you want to have your ad exposed to, I think you're going to actually see more of this coming together as a very similar price across all these type of media. And the pricing will be more affected by consumption and quality of viewer or consumer or subscriber. Then it will be affected by the actual channel, whether it be online or otherwise.

You've been listening to Business Lunch with Roland Fraser. If you're enjoying the show, let us know by subscribing and leaving a review. And for more information go to businesslunchpodcast.com thank you for listening.

Foreign.

Ever wonder how some people build real wealth through acquisitions while others just sit on the sidelines? Well, I'm here to tell you it's not about luck. It's about having the right system, the right deals and the right guidance and that's exactly what we give you in the EPIC Deal Fast Track. If you've been thinking about buying a business, but you keep getting stuck, whether it's finding the right deal, structuring the financing or negotiating with sellers, you are not alone. Too many people waste months, even years just thinking about acquiring a business while the real opportunities pass them by. The EPIC Deal Fast Track is not another course. It's actually an implementation program and it's designed to get you from the idea to the acquisition in just 16 weeks or less. We work with you one on one to help you find, fund and close your first or next deal. And once you do, we're going to plug you into our elite EPIC board community so that you can keep scaling through acquisitions. We install three powerful systems in your business. The first is the Deal Flow engine so you always have high quality off market deals coming to you. Number two, we give you our offer and funding system so that you can structure offers that get accepted and fund them. Create creatively many times with no money out of your own pocket. And number three, our closing and integration system so that you don't just buy a business, you actually successfully run and scale it once you have acquired it. Plus you'll have direct one on one support from an EPIC Deal Advisor every step of the way. And that's people that have actually come up through the system and done these deals themselves. That's the only way to become an EPIC Deal Advisor. And if you're serious about acquiring a business this year, don't just sit on the sidelines. Just text I'm in to 334-458-9034 and we'll get you in. So text I'm in to 334-458-9034 will get you in. No fluff, no wasted time, just real deal making from people that are actually out there doing deals right now.

I'll see you there.