The Best Way to Compensate Marketers | Ep. #800

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 9 October 2018

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode #800, Eric and Neil discuss the best way to compensate marketers. Tune in to hear how you should be paying your marketing team. Eric and Neil have committed to throwing a FREE Marketing School Live Event in Los Angeles, once Marketing School reaches 1M downloads in a 30 day period. Take action: Rate, review, subscribe, and SHARE. Check the progress here! TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: The Best Way to Compensate Marketers [00:32] Before they started recording, Eric and Neil were discussing how the writers at Agora Financial do Billions in business. [01:07] On a podcast, they heard, a man was offered a job at Agora. The company offered to pay his rent for the first 6 months on the job, but the salary was small. [01:27] However, he was offered a dollar for every lead he was able to generate, as well as 1% of every sale that resulted from his leads. [01:47] In general, the best marketers are compensated in relation to their performance. [02:35] Once your business is established and you have built up a steady revenue stream, you may be able to get employees to take a small base plus performance incentives. [03:12] Everything is driven by incentives. [03:41] One of Eric’s friends recommends this: get the company to front $10,000 in ad spend for one month and you don’t pay the agency anything. If it works out, then you take on all the risk and grow from there. [04:38] Agora has their numbers down (they know what each customer is worth, etc.). If you are a new company, you may not have this information locked down and you may not be able to pay based on performance. [05:00] That’s it for today! [05:04] Go here to see how many downloads the show is getting. Also rate and review to help Eric and Neil meet their goal of 1 Million downloads per month. 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

Click on a timestamp to play from that location

0:00.0	Get ready for your daily dose of marketing strategies and tactics from
0:06.8	entrepreneurs with the guile and experience to help you find success in any
0:11.4	marketing capacity. You're listening to marketing school
0:14.5	with your instructors Neil Patel and Eric Sue.
0:19.4	All right guys before we start we got a special message from our sponsor.
0:27.0	If you want to rank higher on Google, you got to look at your paid speed time.
0:31.5	The faster your website loads, the better off you are. With
0:34.4	Google's core vital update, that makes it super, super important to optimize your
0:38.5	site for low time. And one easy way to do it is use the host that Eric and I use dream
0:44.5	host so just go to dream host or Google it find it check it out and it's a
0:49.3	great way to improve your load time.
0:51.6	Welcome to another episode of Marketing School.
0:55.0	I'm Eric Sue, and I'm Neil Patel.
0:57.0	And today we're going to talk about the best way to compensate marketer.
1:00.0	So literally a couple minutes ago, Neil and I were just we had a side conversation and we're just talking about how, you know, the writers at Agora Financial, which is one of the largest organizations in the world, they do, how much a year? I have no idea.
1:14.0	Billions right and you have an idea of how you know
1:17.2	compensation works over there and I was just listening to a podcast
1:20.1	a couple of days ago and I thought it was really interesting and the best marketers in the world are compensated this way so do you want to talk about their structure you want to start it off?
1:28.6	I don't know what the market what the podcast said on how they get paid. So I'll start it off and then maybe Neil can correct me where he thinks
1:34.4	you know I might be off. So Agora Financial, this guy on the podcast was talking about how he was offered a job and he got offered a job six months they're gonna pay for
1:44.5	rent for the first six months and it was a small salary it's like a junior
1:47.9	uh... let's just call him a junior copywriter so thirty and forty thousand dollars
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Eric Siu and Neil Patel, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Eric Siu and Neil Patel and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.