4.6 • 1.3K Ratings
🗓️ 25 October 2023
⏱️ 7 minutes
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0:00.0 | So here's how you mark it in a competitive market with little to no money |
0:05.7 | So my philosophy on marketing especially in competitive markets is you can't outspend people |
0:11.9 | There's already enough people with more money than you and I don't mean that bad way. There's a lot more people |
0:16.4 | There's a lot a lot of people in this world that have a lot more money than me as well |
0:21.7 | But you can't do the same strategies that they do see if everyone's doing SEO and paid and social and all this kind of stuff |
0:27.9 | They're spending tons of money. Yeah, you may be able to get more followers because your content's a little bit better |
0:32.6 | But it is hard to outmarket them and I look up marketing as a race to the bottom. And here's why I say it's a race to the bottom |
0:41.4 | If you look at each year I get this year could be a funcier |
0:44.8 | But if you average it out marketing keeps getting more expensive year over here |
0:48.2 | And I get there's some bad economies and when there's a bad economy it may dip |
0:51.7 | But overall marketing just gets more expensive year over here |
0:54.8 | It costs more money for the traffic. It's harder. These channels get more competitive |
0:59.4 | And it doesn't mean that you shouldn't do them. You should do them as long as you can generate a ROI |
1:03.8 | What we found is marketing's gotten so expensive in these competitive industries like auto insurance or |
1:11.0 | You know health care or credit cards |
1:13.7 | Where it's at a point where some of these industries you're spending 50 60 70 80 100 dollars at click just for a visitor to your site |
1:21.6 | And what we feel is it's cheaper to give away stuff for free than it is to buy the traffic |
1:28.0 | It doesn't mean you should buy the traffic because if you can make it profitable bombings do that |
1:32.1 | But if you're bootstrapped you don't have a ton of money. You're in a competitive industry |
1:36.2 | How can you find something to just |
1:38.3 | Give away something for free and charge for something else that is a much bigger market and I'll use a health insurance example |
1:45.5 | Health insurance costs per click are through the roof |
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