?? 4 types of luck and 12-point marketing checklist
Kyle Balmer
?? AI business & entrepreneurship || International trainer || 60k newsletter readers || 8x best sellers || 200k audience || Forbes featured || Great eyebrows
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?? New here??Welcome. You've joined us on Wednesday, where we share three concepts or principles to help you Master the Game (??). Yesterday was top tools and tech (??). Tomorrow's Too Good to Crush (??).
It's great to have you here.
?? Today's Topics
3 MASTER THE GAME:?Concepts and Principles
Today's issue is list heaven. Master the game by learning how to market with a budget, without a budget and get rich, without luck:
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5, 4, 3, 2, 1...?Let's crush it!
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By the way, we are not sponsored or affiliated with any of these companies. We?believe the concepts and principles shared can make you better at business. For those that are sponsored, we'll make it obvious. Enjoy.
1/3?ADVERTISING, MARKETING
Checklist: Reasons why your marketing campaigns fail?- Unicorn Growth Strategies (link).
The crush:?If you've ever run a paid marketing campaign, you'll know firsthand; it's unlikely you'll roll a six the first time.
The problem:?If running marketing campaigns were straightforward, everyone would do it. In reality, they don't because so many variables are at play.?This is why most businesses give up after running their first few failed campaigns. Then vow never to spend money on advertising again.?
The solution:?Treat advertising as a set of experiments where you change one variable at a time.?
Checklist:?Here's a handy checklist to run through when your marketing campaigns are losing:
The article?dives into more detail for each of these areas.
Tip:?Take a macro look at your funnel. Are there fundamental things wrong such as 'low purchase value'? Meaning your product needs to be more expensive to justify advertising.?
If nothing is fundamentally wrong, work down that checklist in order. Starting with creative.
The final word:?Not everyone has the budget to run the above checklist meticulously. So where possible, lean on your experience in the industry, for example, what hooks will resonate the most with your customers.
?? Hey, if someone forwarded this to you,?subscribe?so you don’t miss the next email. "Welcome to the newsletter ‘business gurus’ don’t want you to read???".
2/3 MONEY
How to get rich without luck (and 4 types of luck) - Picking Nuggets (link).
The crush:?Naval Ravikant, the co-founder of AngelList, has this to say about luck:
"I like to think that if I lost all my money and you dropped me on a random street in any English-speaking country, I'd be wealthy again within 5, 10 years. Because it's a skill set that I've developed, and I think anyone can develop. In 1,000 parallel universes, you want to be wealthy in 999 of them. You don't want to be wealthy in the 50 of them where you got lucky. We want to factor luck out of it."
The problem:?Business-minded folk are a rare breed. We tend to take total responsibility for the good and bad outcomes. But a part of us still clings to hope and luck. Do you still buy lottery tickets? That's an example of hoping to get lucky.
The solution:?Understand the '4 types of luck' so you can factor luck out of the reason you achieve success.
#1 Blind luck:?A random lucky event.
For example, buying a house, that town happens to get an influx of investment, and as a result, your home increases in value.?
#2 Luck through hard work:?You've heard the cliche, 'perseverance pays off'.
For example, when a part of masterminds (when face-to-face masterminds were a thing), I would be genuinely helpful to my colleagues. As a result, I ended up landing a big client contract.
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#3 Luck from preparation:?Having industry-specific insights to spot opportunities others don't.
Is there a problem in your industry that no one has solved yet that would be highly valuable if a solution existed?
#4 Luck from building a unique character:?Obtain complete control of your luck through creating a unique character, brand and mindset.
For example, the famous YouTuber (and entrepreneur) Mr Beast has built all three. He no longer?gets lucky. He has total control over his success.
Final word:?The goal is to have total control over your success, #4.
????3/3 MARKETING, TACTICS
Marketing without a budget - @Aazarshad via Twitter (link)
The crush:?At some point in your business journey, you'll have no money to market. In other words, you won't have the budget for Facebook Ads, Google AdWords or other advertising networks.
The solution:?Azar Shad reveals 14 tactics that require little to no money.
1/ Write blogs?that target customers who are ready to buy. For example, write, 'my product vs alternative product'.
2/ Write detailed how-to guides?on the problem you solve. The aim here is to convert the smaller percentage of people who want the service 'done for them'. Tip: Share these articles in relevant Facebook, Twitter or Reddit groups.
3/ Submit your business to the listing directory.?For example, an architect friend gets consistent leads from an architectural directory.?
4/ Launch on a website like Product Hunt?if relevant. Generally useful for tech tools and apps.
5/ Find a partner with an audience.?Tip: make it a full-time activity to network with your peers on relevant social media platforms. When the time comes, ask one to become your champion.
6/ Run educational webinars?on your product/service. Tip: Follow up with sales emails.
7/ Identify your dream 100 customers.?Solve their problems for free. Tip: Russel Brunson's book 'Traffic Secrets' dives deep into the 'Dream 100' strategy.
8/ Consistently use Facebook groups?and other communities. Don't sell. Just be helpful. People will begin to seek you out.
9/ Write articles for others?for free. People need expert content. Supply it, and in return, you'll access their audience.?
10/ Turn on social listening.?Turn on notifications and alerts for keywords in your industry. For example, I have alerts set for 'Newsletter'. Jump into a conversation when someone is looking for an immediate solution.
11/ Answer questions?and provide insight on super-forums such as Quora & Reddit. The best answers get up-voted.
12/ Always be building an email list.?Ensure your website is optimised to capture emails. To start with, run an expert newsletter on your niche.?
13/ Create a cheaper version of your more expensive offer.?For example, lead with a low-cost eBook that educates people on your service.?
14/ Offer referral incentives.?Give away something that doesn't cost you more to produce. For example, a bookkeeper could give away their spreadsheets as templates.
The final word:?To get the best results, double down on only?one tactic?from the list above. And select a secondary tactic to test. Avoid trying to do everything simultaneously because the above tactics require time, energy and consistency.
That's the trade-off when there's no budget for advertising.
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???Until tomorrow…
Keep Crushing It!
Kyle and Harms.
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