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Marketing School - Digital Marketing and Online Marketing Tips

Where do Neil and Eric Spend Their Marketing Dollars? | Ep. #668

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.61.4K Ratings

🗓️ 30 May 2018

⏱️ 7 minutes

🧾️ Download transcript

Summary

In episode #668, Eric and Neil break down their marketing dollars. Tune in to hear what the biggest marketing costs are and how you can avoid overspending. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: Where do Neil and Eric Spend Their Marketing Dollars? [00:51] Eric spends about $10,000-$15,000/month on blog content. [01:12] Neil spends about $4,500/month on video content. [01:24] Podcasting costs Eric and Neil $700/month each. [01:40] They spend the same on video content. [01:48] Eric’s team just starting ramping up/retargeting their ads and spent $3000-$4000. [01:54] Neil spends most of his money on making and giving away free tools, which costs around $80,000/month. [02:12] Building tools takes up a lot of time. [02:20] Neil’s team found it is cheaper to buy out other companies than to spend money on marketing. [02:50] Building free tools gets you organic traffic. [03:02] If they were to add in salaries, that would only add an additional $25,000 to the mix. [03:15] Neil’s numbers include salaries in his estimation. [03:33] Editing blogs costs about $2000/month, but Neil doesn’t pay for translations. [03:52] If you build up brand equity, you can get a lot of work for free. [04:10] One strategy for people with a minimal amount of capital: find people to partner with. You will get stuff for free and both of you will gain a new audience. [04:35] Guest posts are really helpful. [05:28] That’s it for today! [05:32] Go to Singlegrain.com/Giveway for a special marketing tool giveaway! 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

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 page 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 Potom, and today we're going to talk about how, well, how we both

1:00.3

spend our marketing dollars and it's different, we both have different strategies and the spend is also very different as well.

1:06.0

So Neil, where do you want to start?

1:08.3

Go for it.

1:09.3

Where do you spend your money, Eric?

1:10.5

So let's see, where do we spend on my?

1:11.8

Do we count salaries here? No, let's see where do we spend on my do we count salaries here?

1:13.0

Uh, no let's not count salaries on the marketing team no?

1:16.0

No.

1:17.0

Okay.

...

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