How To Use Data in Marketing | Ep 290

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 6 April 2021

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s all in the numbers! Today, Alex (@AlexHormozi) talks about the importance of data analytics in your company, how the 3 wheels can be used to drive the messaging of your marketing campaigns, and even understand the consumer behavior of your customers! By thoroughly looking at the data and understanding what they mean, you can drive more compelling messages that will drive more sales for your company!

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(0:47) - When it comes to marketing, one of the consistent sources of new material is understanding data

(2:02) - There are different variables (3 wheels) you can look at when it comes to data, you can base so many campaigns around it

(7:50) - When we're talking about increases, there are four ways you can show it: percent increase, absolute increase, revenue, and the increase following that

(10:11) - You can use those same three wheels with any of the stats in your data. You could use it with profit, revenue, churn, etc.

(12:16) - Alex gives us a template to follow when making a marketing campaign based on your data

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Transcript

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0:00.0	Most of the nation real quick, if you are a business owner that has a big old business
0:04.0	and wants to get to a much bigger business, going to $50, $100,000 plus we would love to talk to you.
0:09.5	And if you like that or would like to hear more about it, go to acquisition.com and you can
0:13.2	play anywhere on the page and talk to one of our team and see if we can help you get there.
0:17.7	Now, if you're thinking about from marketing perspective, would you think 18% of gyms that we work with are some
0:22.9	bigger gyms? Maybe I don't think that sounds as compelling as 1 in 5.5, like really 1 in 5, like that's not that bad.
0:29.4	Welcome to the game where we talk about how to get more customers, how to make more
0:33.0	per customer, and how to keep them longer in the many failures and lessons we have learned
0:36.2	along the way. Hope you enjoy and subscribe.
0:39.1	What's going on everyone? I've got a special presentation for you today. This is going to be a little bit more advanced stuff.
0:44.5	And it's because I'm partially making this for my team on the marketing side.
0:49.0	So one of the things that I have found has been a consistent source of new marketing for us is understanding data.
0:54.5	And so I think some people are much better at selling stores than I am, but I'm pretty decent at slicing data.
1:00.0	And so the nice thing is that there's always new infertures that you can derive from data that you can make the same thing
1:05.0	in different things. And so for example, I'll give you some statistics that we have that we've based entire campaigns around.
1:12.5	So one campaign that was our most successful campaign that we've ever run was a one year later campaign.
1:18.0	And so what that was was we took all of our clients that have been with us for over a year and measured all of their stats and measured their stats from before they were with us until now a year later.
1:26.0	It showed the difference, right? And the differences were crazy, you know, 250,000, 500,000 a year, a million dollars a year extra.
1:31.5	They're just massive differences. And so from that, from that one, you know, measuring example, there's so many different sub divisions of data that you can use.
1:41.0	You can just say, hey, when your later average client is up this, right? That would be one way to do the data.
1:45.5	And another way to do that would be like one year later, our top 20% of clients have added over $400,000 a year to their yearly revenue.
1:53.5	Another one would be the bottom, you know, 80% rat this, right? And so there's, there's all these are like one in, here's another way of doing it.
	...

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