Mentors Collective Entrepreneurs

The Nine Pillars of Marketing Every Entrepreneur Needs to Know

June 15, 2020 Dr. Jay Feldman Season 2 Episode 8
Mentors Collective Entrepreneurs
The Nine Pillars of Marketing Every Entrepreneur Needs to Know
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Mentors Collective Entrepreneurs
The Nine Pillars of Marketing Every Entrepreneur Needs to Know
Jun 15, 2020 Season 2 Episode 8
Dr. Jay Feldman

This episode talks about the nine most important tools of marketing that you can use to reach potential customers and scale your business. I have personally used most of these forms of marketing. Some are better when you're starting out, and some when you have steady cash flow. Either way, you should be aware of all of them!

Leave a review if you found this helpful:
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Show Notes Transcript

This episode talks about the nine most important tools of marketing that you can use to reach potential customers and scale your business. I have personally used most of these forms of marketing. Some are better when you're starting out, and some when you have steady cash flow. Either way, you should be aware of all of them!

Leave a review if you found this helpful:
 http://getpodcast.reviews/id/1482762181

Support the show (https://mentorscollective.com/support)

0:05
All right, what's up gang? Welcome to the mentors collective on entrepreneurship. And on this episode we're going to be diving in to I'm going to call it intro to marketing. So we talked a little bit about starting your first business with no money, what idea Are you going to pick and execute? So now you've got an idea. You've got a product, you've got a service now how do you get people to pay you for such product and service marketing is a beast in itself and probably an arguably the most useful skill that entrepreneur can possess. Marketing is an art. It is not a science. Well, it's a little bit of both. And if you can master this art, then you can master the art of making money, getting people to pay for certain things, and we're going to talk about high ticket sales, high ticket marketing, we sell packages now at 5000 to $10,000, which is absolutely insane. But it all starts here my very first company ever, ever, which was a tutoring company. I was handing out flyers. I was putting business cards on people's windows because I had no idea how to help you get the word out, I had a social media account that was basically worthless. Obviously, no one was following me. And it's very hard to get people to follow a business social media account, let me tell you, however, there's going to be some tricks, I'm going to leave you along the way. And on this episode, I'm really just going to touch on my nine favorite forms of marketing, what they are, and a couple of little golden nuggets for you about each one. Each one of these forms of marketing that I'm going to be talking about is five to 10 videos in itself if you really want to learn and master each form. So this is really just going to be an introduction, I'm going to let you know that they exist and let you know which ones maybe to focus on first, which ones cost you less money, which ones will show you the best ROI. So this episode is going to be packed full of value. I have done every form of marketing on this list. I continue to do every form of marketing, but I focus on a specific and I'm sorry, I'm pointing because I'm pointing on my screen why I wrote all nine because if I try to remember them off the top of my head wouldn't be able to all right, sorry for rambling for all of you time travelers out there right now, George float is just brutally murdered and there's riots going on outside of my window in Orlando, keep protesting these men, it means men all deserve to be in prison for the rest of their lives, all four of them. But with that being said, let's go away from political and let's get into business because really, that's what we care about making as much money and becoming as self sufficient as we possibly can so that we can give back and help others. So let's get you on the road to doing that with marketing. Tip number one. The first marketing tactic that I'd like to talk to you about is hand to hand combat marketing. This is when you are in the middle of the street handing out flyers and business cards, kind of like what I did when I first learned how to market this is free. This is effective, you get your face out in front of people and assuming that you can talk and interact like a human and people like you and you have a decent product or service and decent pitch that you can do in 15 to 30 seconds. This is actually going to be a pretty good form of marketing. However, this scares a lot of people. No one wants to stand in The street and hand out business cards, it can be embarrassing, you're going to hear a lot of nose. But hearing nose is one of the best things that you can do as an entrepreneur, get that know over and over again, if you're going to do hand to hand combat, I highly suggest getting a really nice business card with a really clear call to action on there, come visit here, stop in for a free dessert. Here's a coupon for a free week trial, call this number if you're interested, yada, yada, yada. Get out there, make some friends, talk to people get some numbers, hand out a ton of cards. You'd be surprised how effective this is. And if you want to do what I did when I was 18 years old, my first business wake up at 6am before everyone leaves for work, I was in college and I used to go to the apartment complex is where everyone lived and I would leave a business card everyone's windshields and yes, this is a little bit invasive. Yes, it rains sometimes in the business card melted and stuck to their windshield and I'm sure they're very upset about that. But you know what, at the end of the day, I got a whole lot of people signing up on my website and calling me this marketing strategy is effective, it is proven and less and less people are doing this now. Nowadays, they're all online marketing. So go where the crowds aren't, I highly suggest starting with this, especially if you're a new entrepreneur or you have a place of business a, oh my god, I am totally blanking a storefront or people can come in and visit you this is going to be a really good form of marketing because you can isolate a geographical region and find people that are nearby you can go talk to store owners face to face, get up in their face human interaction has been lost and no one is doing this. And to hand combat okay form of marketing number two, and this one is also free. I hope you

4:30
notice that I started with the free ones for you people who maybe don't have a huge marketing budget to start off with, which is makes a lot of sense. I mean, when you're first starting off and you don't have much cash flow and you don't have funding, you need to market free. So here's some ways to do it. Social Media Marketing very, very hard to build a dedicated following on a social media account that is dedicated to your business, but not impossible and a lot of companies are very successful at doing this. I know I have been in the past. My Golden Nugget on social media marketing is learn automation. This is also can be an annoying form of marketing if you abuse it. So don't abuse it but download a software called jarvey. You can automate all of your social media accounts to interact with people for you on your behalf. Your job is to set these up correctly learn to master automation and learn to master content give people value in your content so that when you're interacting with them, and they do land on your social media account that they actually want to continue following and engage with your account and with your content. Social media can be super super effective because it's like an email list but better because they see all your stuff and you get to show them images and videos, not just emails and they're following you. They're your fans to building this is almost as or more important as building an email list highly suggest putting some time and effort into mastering social media marketing. I have several business pages that have hundreds of thousands of followers and this is where a lot of my sales come from. And before the whole Instagram algorithm changed. This was my primary form of marketing and I loved it. However Now there are a lot of training wheels, a lot of bots that will that will identify Automation but still a really good thing to master. We use jarvey and a lot of our business operations to do interactions, outreach, endorsements, really cool stuff to learn. There's a lot of cool videos online. And I will probably do an entire video on social media automation for you guys. So stay tuned the third form of marketing that I would like to introduce you guys to his content marketing. And this is actually going to go along with the next one that I want to talk about, which is SEO and organic content marketing is arguably the most important and popular form of marketing right now. And it is being oversaturated. But what it essentially is, is creating content that your end user will consume. They're out there looking for the 10 best dog treats and you are out there creating the blogs and the videos about the 10 best dog treats. What do you know it's on your website and you're selling dog treats. This is content marketing. Content Marketing also involves video. It involves blogs, it involves basically anything that the end user is actually looking for, and one to consume if you're putting out good content marketing, they're more likely to follow your social media, they're more likely to subscribe to your email list. And this is where you get a really loyal and friendly fan base who is going to be your most loyal customers. This is also one of the hardest forms of marketing to succeed at because you do have to really take the time to put out valuable valuable SEO optimized content and disperse it the correct way content marketing and social media marketing using the same automated tools that we just spoke about things like jarvey and mass planner make it very easy to disperse your content marketing across multiple platforms. For example, when I put a blog post on our otter PR site about you know, 10 tips to reaching a journalist and getting media coverage that then is translated into an Instagram post into a Twitter post into a LinkedIn post into a Facebook post. It goes on our medium page it goes on our blogger page goes on a Reddit thread all with a click of one button.

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And this is just really smart marketing guys, I'm putting out an article that often goes along with Video and an infographic and it gets dispersed. Now, if there's people searching for that content on any platform, they're going to find us and they're going to read it. They're going to trust us and hopefully give us their email address in business. That's content marketing. Again, this could be a whole video whole series in itself. Moving right along, we're going to go into SEO slash organic marketing. This is people who are finding you using organic methods such as SEO, they are searching portable home gym on their Google machine. And my company Rex fitness is doing a lot of blogging and outreach and videos about home workouts and our portable home gym and the best portable home gems. So ideally, that blog that is ranking highly and has been shared and is being highly trafficked is going to be one of the first thing that's going to show up and they're not going to click the first three sponsored ads they're gonna click what they're looking for, which is the best list of top three home gyms by RX fitness. They're gonna come on there. Guess who's number one. That's me. That's SEO and organic marketing. People. Think Finding you on Google or through whatever it might be, if you're on yellow pages, or one of these other software's or businesses that helps you find finding the right business, get on all of them. Get on as many as you possibly can and optimize their SEO so people can find you. For those of you who don't have a knowledge of SEO already, it is very complicated. And anyone who promises to rank you in the first three pages of Google or first one page of Google, for a very competitive or specific keyword is lying to you. It takes years and years and a lot of very good highly optimized content, and you're probably just not going to win at competitive keywords. So try and win a non competitive keywords. And that's it. It's a hard world out there to be found organically. And nowadays, there's too many businesses fighting for market space, put out good content and do this content marketing strategy that we just spoke about, and you do it for enough years and you'd go after the right keywords. Maybe Maybe, maybe all right, okay. The next form of marketing I want to talk about in this is 1234. Number five PPC and ads. And I'm going to lump Google AdWords and social media advertising together because essentially the same thing, but the difference actually not. I'm just going to talk about them differently just because it is important for you to understand the difference. AdWords is Google AdWords. This is where people are searching Google for best PR firm Orlando, they're already having an attempt to buy. They're looking for a PR firm in Orlando. They want to hire a PR firm in Orlando. So they're searching it and those sponsored ads you see at the top of the page are targeting those keywords. So anyone typing that keyword is displaying your company in a sponsored ad. If they click pay per click, you get charged, they land on your website with that intent to buy and you have an opportunity to convert right there. However, in conjunction with Facebook marketing and social media marketing, you are not showing that advertisement to somebody who has intent to buy you are showing it to somebody who is scrolling through their social media feed with no intent to buy. They're just scrolling. So the goals are very different for an AdWords campaign in Google AdWords, someone with intent to buy your goal is to sell to them. They're ready to buy social media ads. tising your goal is to get their email address, create a lead, create an interaction, give them value so that maybe after a few touches after a week or two weeks of showing them some ads, getting their email address and giving them a drip campaign of really useful information, they'll be ready to buy at that point Facebook advertising Google AdWords campaigns. Both of them essentially charge you per result, which is per click or per lead generated. However, they have very different customer intents. So it's good to use them both strategically. And if you don't use them well and you're not trained in them, you could be throwing a lot of money away so be very careful. learn this stuff, find a mentor, and be ready to spend thousands of dollars on Facebook advertising and social media advertising before you find a strategy, a creative a lead hook that works. So this is not for beginning marketers beginning business owners that don't have a very good marketing budget, you're going to throw money in the trash can find a mentor and do free and lessons Expensive marketing until you're ready for this. But this is the fastest way to scale your business. If you can figure these ads out, this is how you go from a $10,000 a month to $100,000 a month company, learn Facebook advertising learn AdWords campaigns, they're both super useful for in their own respect. And I will be doing a video on each of them separately at least a video and it's probably going to be very long and very tedious. And I'll show you my screen and we'll go through setting up an ad campaign but that's for the future. One of my favorite forms of marketing. We do a ton of this sorry if you've received one from me, but that's email marketing, a couple forms of email marketing, because I'm sure you've heard of it. And there's a lot of companies out there like MailChimp is one you've all very familiar with, which are software's that allow you to email your list of subscribers. Now what do you do if you don't have a giant list of subscribers or you want to email more people that maybe aren't subscribed and you try to sell to them, there's cold email marketing, which has very strict limits on how you can do it effectively without breaking any laws and annoying lots of people. With that being said, it is effective if used correctly. I know I received a cold email marketing email yesterday from an email marketing company trying to sell me their email marketing services, they got a call out of me and I'm very interested in what they have to offer and bring it's a very inexpensive form of lead generation the goal with an email marketing campaign, get them on the phone for high ticket sales. And if it's a low ticket sale, you can send them right to a landing page, but email marketing, fair warning, art and science in itself find a mentor if you're using the wrong software. If you're using the wrong email, if you're using the wrong list, it's very dangerous. It's very ineffective, it can cost you a lot of money and you'll probably get kicked off at some point DM me personally, and I'm happy to walk you through this. This is also going to be video on its own. I am an expert email marketer but not nearly as good as some people. Let me tell you that Okay, so email marketing, if you can figure it out, very inexpensive and good way to generate leads for a new business owner, look into this, learn about it. It works and a lot of people aren't talking about it. So message me If you have further questions. One of my other favorite forms of marketing and one of the most cost effective at this point in time, I still believe and it's also good for building your brand is influencer marketing. I don't have to go too in depth in explaining this and influencer marketing is essentially paying a social media influencers to endorse your product on their social media channel. And a lot of times influencers are one of the most affordable bargains for getting in front of that massive audience. For example, if you were to find a tick tock influencer right now whose videos reach millions of people, they're likely to do a tick tock marketing video for you for under $500 to reach over a million people in the United States. That is freaking bonkers. Use this strategically understand it, there's a lot of software's out there that will link you with the influencer within your niche. Those influencers are often overpriced, and I found that the best way to find influencers at a discounted rate is to find the ones that are not listed on those databases of influencers, but in Do the outreach yourself. And if you want an influencer to respond to you, and to be nice to you and want to help you, be nice to them, follow them comment their stuff, tell them that you love their content. Don't just go straight for how much for a post because if someone asked me that for my social media account, I'm going to tell them $1,000 for a post on my social media account, if it's a friend or a company that I admire, who I've been working with, who sends me free stuff, no questions asked before they they make the ask, that price is going to change and the quality that I put into that content is going to change. So make friends with these influencers, they will help you they're humans, they're not businesses with set rates, their rates are flexible, use this form of marketing, I think Instagram influencer marketing is becoming oversaturated overpriced. I think you should start looking into other forms of social media marketing and Influencer Marketing Podcast ads are a great idea for a lot of podcasts with big viewership. So I'm hoping to get there one day and start running advertisements, so I apologize to all of you listeners, tik tok huge up and coming really young fan bases on tik tok. With a lot with a growing viewership and growing the audience of older people who are watching young kids Tick Tock This is a massive marketing opportunity for everyone out there listening I have only started to tap into this massive resource and I'm seeing huge returns look into this Tick tock tick tock marketing young people low rates older and older audiences are starting to view so get in there before it becomes the same oversaturated nightmare that is influencer marketing on Instagram moving on now telemarketing dead don't I've never made cold phone calls. I've heard that it works for some people. I don't screw with it. If you want to get a database of phone numbers or buy one from somewhere online and start making phone calls. Let me know how it goes. But that's as far as I'm going to go with telemarketing and the last one that I want to talk about and this is one that I have yet to master but for those who do master this form of marketing and getting loads of media coverage, they grow very loyal fan base is on social media and it is one of the forms of marketing. That is awesome. often overlooked, but when you see it, you know exactly what it is. And that's guerilla marketing. It's powerful. So for example, I live on downtown Orlando right now and I live on the major Lake downtown. There's a big yard where hundreds of people come to walk around this lake and they see this field and it's a great place to market for people. If you you know, have the right stuff set up. There's a farmers market, there's lots of foot traffic, they set up a giant poop, a giant inflatable 40 foot high poop that you could enter, you'd walk in and have a poop experience. Can you guess what company This was? It was popery. That's the stuff that you spray in your toilet before you take a dump. It's essentially air freshener that you put in your toilet and you poop in it. It doesn't smell so bad. What a guerilla marketing tactic a giant poop in the middle of one of the most highly trafficked areas in Orlando author than the tourist attractions, but it's really just genius stuff. I admire the hell out of them. I waited in line 20 minutes just to go see what their marketing campaign was and I was so impressed and anytime that I see a good guerilla marketing campaign Huge, huge props huge commends to those companies, there's probably entire teams dedicated to coming up with these really unique ideas and making them a reality. So big props, those are nine forms of marketing, I actually talked a little bit more than I expected to about some of them. And like I said, some of those forms of marketing are going to take an entire series we're training course to get through. So I hope that you enjoyed my brief summary of each one and my little nuggets of wisdom regarding each form of marketing. Just to recap, if you're a new company and you don't have much much of a marketing budget, I highly recommend hand to hand combat get out there with business cards go on vistaprint you can get 500 of them for like 20 bucks, start handing them out making some friends. It's a it's a free form of marketing that's now being overlooked. But in a post COVID world I'm not sure how how effective it's going to be. The next one is start building your social media following use content marketing and master automation. You master these things, you will be able to market for free forever and the other form of inexpensive marketing that I suggest that you learn and normally I would save all of this from myself because I don't want all of you doing email marketing because that's that's one of my special things that I'm very good at is email marketing learn it master it if you can do this you will never have to pay for leads again super powerful stuff guys pay per click advertising. This is how you scale businesses This is once you've reached a certain plateau point and you have the knowledge base, you have the funds to experiment with you have a good mentor, you have a good graphic designer and creative team. This is when you start pouring money into Facebook ads. Not before guys, you're gonna throw money in the toilet. I've thrown money in the toilet I've learned but I've been able to throw money in the toilet just make sure that you can because there's a quick way to bankrupt you or for you to throw two grand in the in the toilet over a week and you're like, Oh, I don't have any usable information. Alright guys, 23 minutes later, I really appreciate you listening to this video on marketing. I'm going to be making follow up videos for each point that I just talked about for your business. I highly, highly recommend that you subscribe to this channel. You're going to learn a ton about marketing running a business learning every step of the way how to take a business from zero euro dollars in zero experience to $100,000 a month. This is something that I've done for myself and I continue to help others with please leave a review. If you enjoyed the content of this episode or you found this valuable, I'm going to put a link directly to leave a review on this podcast right in the show notes. Go click it or leave a five star review. And go Let me know your thoughts in the comments. I really appreciate all of your feedback. And it means the world to me if you could also subscribe to me on YouTube, follow me on Instagram, like my Facebook page, the Twitter but most importantly, the podcast review. This is the mentors collective signing off. I'm Jay Feldman, your host and on the next episode, actually tomorrow morning, and I'm not sure when this is going to air. But I'm going to be sitting down with my roommate and business partner Scott, who is an e commerce expert and we have two businesses together and we're going to be talking about the dark side of entrepreneurship basically all of the crap that we have been through nearly going bankrupt and out of that bankruptcy starting a million dollar company together and it is really just been a wild journey and I'm excited to talk to you You guys about it all right, but on that note, I'm out Have a great rest of your day it's nighttime here and stay safe.