The Surprising Marketing Tactic We Would Invest 10M Into Right Now #1798

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 17 July 2021

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #1798, we talk about product-led growth and why we find it such an effective marketing tactic that we would invest 10M in it. Giving away a product for free is an extremely good way to build an audience that can then be monetized at a later stage. Even though this tactic does not produce immediate returns, it brings in a ton of money in the long term. Tune in to hear how delayed gratification wins at the end of the day! TIME-STAMPED SHOW NOTES: [00:25] Today’s topic: The Surprising Marketing Tactic We Would Invest 10M Into Right Now. [00:40] Investing in free tools that gobble up the marketplace. [01:07] Leveraging an audience built off a free tool through upsells. [01:27] This tactic is more cost-effective than advertising. [01:31] The long-run effectiveness of controlling a big buyer pool. [01:41] Examples of product-led growth. [02:29] Examples of companies investing in ‘free’. [03:52] That’s it for today! [03:53] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information or call us on 310-349-3785! Links Mentioned: OpenView Ventures 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.
0:11.8	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	And fast your website loads the better off you are with Google's Corvital update.
0:33.2	That makes it super, super important to optimize your site for low time.
0:37.7	And one easy way to do it is use the host that Eric and I use dream host.
0:42.2	So just go to dream host or Google it, find it, check it out, and it's a great way to
0:47.1	improve your low time.
0:48.5	Today, we're going to talk about the surprising marketing tactic we would invest $10 million
0:55.5	into right now.
0:58.8	All right.
0:59.3	So the big thing that Eric and I and already know we're going to have the same answer.
1:03.0	So I'll just give it for both of us is free, not freemium, but free.
1:08.9	What could you give away for free and build a massive base?
1:12.1	So example of this, if I was building a SEO tool, how can I make it as free as possible
1:17.6	and just gobble up a lot of the market or email or email tool or, you know, if I was
1:24.2	like e-commerce, how can you go away free, you know, tongue clean or like, or a brush
1:28.6	did because the more of the market you can have, even if it doesn't generate a lot of
1:32.5	revenue in the short run, hence we said $10 million investment.
	...

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