Elon destroyed the concept of hiring brand agencies for millions of dollars

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Careers, Business, Marketing

4.6 • 1.3K Ratings

🗓️ 30 July 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, Neil and Eric talk about how Elon Musk has revolutionized the concept of hiring brand agencies for millions of dollars. TIME-STAMPED SHOW NOTES: [00:00] - Elon Musk and 99designs on redefining the strategy of hiring a brand agency [01:30] - What do Neil Patel and Eric Siu think about this whole Twitter rebrand? [02:38] - Is this the end of brand agencies? [04:04] - Neil Patel and Eric Siu rebranding tips and tricks [05:10] - Why conversion should be the top priority instead of just redesigning your brand Links Mentioned in Today’s Episode: Don’t forget to help us grow by subscribing and liking on YouTube! Leave Some Feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric's ad agency NP Digital << Neil's ad agency Twitter @neilpatel Twitter @ericosiu

Transcript

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0:00.0	All right.
0:01.0	So we're going to talk about how Elon destroyed the whole concept of paying a brand, a branding
0:08.1	agency, millions of dollars for a logo.
0:10.1	So remember Pepsi, when they did the rebrand or Nike, that was done for like $20, a
0:16.1	little swoosh.
0:17.1	Right.
0:18.1	Yes.
0:19.1	But I don't think Elon destroyed it.
0:20.1	I think 99 designs actually destroyed it.
0:22.9	Destroyed the concept of it.
0:24.1	Yeah.
0:25.1	Because when about that 99 designs was saying, hey, pay a designer however much you want.
0:29.5	The community will just come and create and then go from there.
0:32.4	I agree to an extent.
0:33.4	But when you have someone like a Elon do it, it brings more attention to it.
0:39.8	But the reason I say 99 designs over Elon is Elon has such a big following in a community.
0:45.2	A lot of people think, oh, Elon's doing this doesn't mean I can do it.
0:48.5	But on the flip side, anyone can do it to 99 designs.
0:51.5	Yeah.
0:52.5	Well, okay here.
0:53.5	Look at it this way, right?
0:54.5	Whenever he cut 80% of formerly Twitter staff, all the tech founders were kind of scared
	...

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