My Startup Has Exhausted Its Cash and We’ve Slashed Our Marketing Spend to Zilch | Ep. #1376

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 8 May 2020

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #1376, we ask what happens if your startup has exhausted all of its cash and you slash your marketing spend to zilch? Marketing is often the first expense to get cut when money is low, and in some ways this makes sense. Tune in to hear our thoughts on the best ways to cut marketing costs without losing vital income! TIME-STAMPED SHOW NOTES: [00:25] Today’s topic: What Happens If Your Startup Has Exhausted All of Its Cash and You Slash Your Marketing Spend to Zilch? [00:41] The first expense that goes out of the window: marketing. [01:06] Keeping the profitable marketing budget and cutting the rest. [01:49] The story of ConversionXL and the idea of paid trials. [03:22] Look for partnerships for a cheap alternative to traditional marketing. [04:27] Playing the long game, adapting and taking some inspiration from Gary V. [05:54] Using SparkToro to find your ideal partnership! [06:20] That is it for today! [06:23] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information. Links Mentioned in Today’s Episode: ConversionXL Gary V SparkToro 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 and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.5	Let's start leveling up your marketing knowledge with your
0:14.3	instructors Neil Patel and Eric Sue.
0:19.2	All right guys before we start we got a special message from our sponsor.
0:24.0	If you want to rank higher on Google,
0:25.9	you got to look at your paid speed time.
0:28.5	The faster your website loads, the better off you are.
0:31.3	With Google's core vital update,
0:33.0	that makes it super, super important
0:34.8	to optimize your site for low time.
0:37.6	And one easy way to do it is use the host
0:40.0	that Eric and I use, Dreamhost.
0:42.0	So just go to Dream Host or Google it.
0:44.8	Find it, check it out, and it's a great way
0:47.0	to improve your load time.
0:50.4	Welcome to another episode of Marketing School. I'm Eric Sue and I'm Neil Patel.
0:55.0	And today we are going to talk about what happens if your startup has exhausted all of its cash and you slashed your marketing spend to Zilch and this question we're doing this
1:04.3	live right now comes from Varun Singh and Neil what are your thoughts on this?
1:09.1	So first off in business and we see this typically the first expense that's to go during bad times is
1:15.8	marketing it's not people it's marketing and that makes sense you don't want to let people
1:20.7	go first you want to let your marketing but just go first I know being a marketer that's weird for me to say but it's true you
1:27.1	want to try to retain people as much as possible now when you slash your
	...

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