How to Incentivize Marketers The Right Way #1928

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 26 November 2021

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #1928, we talk about the value of incentivizing marketers and how best to do it. Charlie Munger once said, “You show me the incentive, and I’ll show you the outcome.” By this, he meant that people will produce better results if they are rewarded. Join us today and hear which parts of your team to incentivize, the metrics to assess their performance, and what incentives work best! TIME-STAMPED SHOW NOTES: [00:20] Today’s topic: How to Incentivize Marketers The Right Way. [00:31] Why it is important to incentivize people. [00:45] How to incentivize marketers by offering tangible gains. [01:08] “Show me the incentive, and I’ll show you the outcome.” [02:15] Adding incentives without developing expectations. [02:25] Keeping the metrics that earn the incentives simple. [03:12] Whether to give everybody incentives. [04:16] That’s it for today! [04:18] Learn how to grow your business by visiting marketingschool.io/training Links Mentioned in Today’s Episode: Check out our blueprint on how to build your dream business: https://www.marketingschool.io/training Subscribe to our premium podcast (with tons of goodies!): https://www.marketingschool.io/pro 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: Neilpatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top-level marketing tips
0:06.4	and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.4	Let's start leveling up your marketing knowledge with your instructors, Neil Patel, and Eric
0:16.8	Sue.
0:17.8	All right guys, before we start, we got a special message from our sponsor.
0:24.1	If you want to rank higher on Google, you got to look at your paid speed time.
0:28.6	The faster your website loads, the better off you are.
0:31.4	With Google's Corvital update, that makes it super, super important to optimize your
0:35.5	site for low time.
0:37.7	And one easy way to do it is use the host that Eric and I use, Dreamhost.
0:42.2	So just go to Dreamhost or Google it, find it, check it out, and it's a great way to improve
0:47.7	your low time.
0:48.7	Today, we are going to talk about how to incentivize marketers the right way.
0:54.5	First and foremost, Neil, why is it important to even think about incentivizing people?
0:58.5	There's a lot of people, whether it's sales, whether it's marketers, whether it is project
1:04.8	managers or designers, and a lot of organizations, people have bonus structures, people want
1:10.2	higher titles, promotions, all this kind of stuff.
1:14.1	The best way to incentivize others is to really go out there and give them something that
1:22.0	is very tangible.
1:23.0	Let's see what marketing is a little bit different because you can see it based off of traffic
1:26.6	or conversions or sales, at least if it's self-service or leads.
1:30.5	And if you figure out a metric, you'll get them to push hard towards it.
	...

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