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Seeking Wisdom with David Cancel

"Best Of Seeking Wisdom 2018" Part 1

Seeking Wisdom with David Cancel

Molly Sloan

Business, Entrepreneurship

5610 Ratings

🗓️ 24 December 2018

⏱️ 29 minutes

🧾️ Download transcript

Summary

On this very special best of 2018 mash up, you’ll get insights from guests throughout the season, and, as always, nuggets of wisdom from DC and DG. On Part I, hear from ProfitWell’s Patrick Campbell on content strategy, pricing and the future of the subscription economy. Rich Roll and Brad Stulberg break down the emergence of wellness, fitness, mindfulness and well-being as major categories. Plus, Amy Chang, advisor, board member and Cisco SVP on why a diversity of personality types and not just backgrounds is key. Sales expert David Priemer talks about effective selling and how to ensure your message gets through. And to wrap it up, DC and DG discuss the six principles of Influence and why it’s the book every marketer should know cold. Be sure to tune in and we’ll see you back here next week for Best of Seeking Wisdom: Part II! Before you go leave a ⭐⭐⭐⭐⭐⭐ review and share the pod with your friends! Be sure to check out more insights on the Drift blog at drift.com/blog and find us on Twitter @davegerhardt, @dcancel and @seekingwisdomio.

Transcript

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0:00.0

Hey everybody, it's DG. We are about to bring you part one of a highlight show from

0:10.6

2018. We got some of the best episodes from this year, mashed up, cut up. It's going to be

0:15.4

amazing. So here's part one of the best of seeking wisdom from 2018.

0:27.8

I was just explaining this to the team because we're going to start doing more top of the funnel content.

0:30.8

But it's all been bottom top of the funnel content.

0:31.5

So what's that mean?

0:36.9

So when you look at your funnel, right, like your top of the funnels is where you're getting a lot of the visits.

1:27.7

And for us, it was more high leverage to write a blog post about pricing, about discounts, about all of these different things that you have to seek out than to write stuff about like, let's do a founder interview with DC or let's do like DC's top 10 favorite books, like that kind of stuff, which is more top, top of the funnel. And so that brought in high leverage. So like the traffic wasn't necessarily like insane, but it started building that brand. It's highly qualified. And then the other thing that started happening was we were just like people would ask us advice all the time. And I normally like even if I knew they were going to give us no money in the near future, even the long term future, I was like, sure, I'll get on the phone with them. And now it's like, like hook up to profitable. Yeah. No, because I think just on that from the outside perspective, I think I have no idea what your marketing has been. But I know that you're you built up this resource where if you're thinking about subscription-based pricing, it seemed to be you or Patrick is the pricing guy.

1:33.0

And that seems to be the brand that you've built through content.

1:35.8

Totally.

1:36.8

And you have this unique view on, because of the products you have on the subscription

1:41.9

economy.

1:42.9

And what are the good and bad things that

1:45.2

you see in the current going into 2018 market? Yeah, I don't think it's unique to be frank. But I do

1:52.4

think it's, it's just what the data is saying. Sure. What do you think we're living in this

1:57.6

funny world where, you know, on the venture side, it's like, oh, bubble, not bubble. Like, there's this huge, like, honestly, I don't think the debate

2:04.8

really matters. Like, it matters, like, obviously, for, like, companies that are raising heavy.

2:08.7

But I think for the most part, yeah, like, I indicated your way. But I think

2:14.5

what typically happens is, like, it's, cacks are going up. CAC is up 50% over the past five years. Cost of acquisition is up. So that customer that costs you $100. Do you have any idea why? Like it's just because there's more, there's more stuff. Yeah, I have 58 ways you could talk to me on my phone. Totally. Well, here's the problem. Here's the problem. I just meant like mind chair. I think the thing that I think about a lot is there's a million channels, right? Like the example is like if you were, if this was the late 90s, early 2000s, right? And you were doing email marketing. You're probably the first person in the world to do email marketing. You probably got 90% open rates, 70% click rates. Now there's 100 different channels that I'm on every single day. How do you know where to reach me as a buyer? Here's the problem. You're totally right, but it's a conflation of a couple of things. One, there's density from just the amount, like, think of content. Like Like it used to be you put out a good blog

3:07.7

posts and you were like God, right? Or there was maybe two new companies on TechCrunch every

3:12.0

week. Now there's a whole site product where there's 100 a day. And now that's happening

3:16.8

while you have competition happening. So there's 8,000 companies now dedicated to growing, right?

...

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