I’m back from two days in Chicago at Perry Marshall’s Paradigm Shift workshop. I’m going to write up my full notes from the workshop in this month’s Story Selling Insider newsletter. But today I’d like to give you a quick preview…
There are perhaps 50 places to advertise your business, and probably more. Social media – the way most people do it – is exhausting. The better approach is to pick four or five strategies that straddle audio, visual and written, and tie them together with remarketing.
The key is to test a huge range of different ads and offers using warm traffic, and quickly eliminate ads with poor click through rate. You might kill some ads before they even get any clicks.
Sure, so some ads you cull may turn out to have a low click through rate and high conversion rate. But that doesn’t matter – we’re trying to find the small number of ads that have high click through rates AND high conversion rates.
Using stories in your ads is a good idea, especially content that comes from real prospects and customers. The process we worked through with Perry is a way to produce thousands of ad ideas, harnessing the creative input of multiple people. Most advertisers test different variations of a control ad over and over. You can’t A/B split test your way to success.
This process HAS to be done with warm traffic. Cold traffic is brutally expensive to test with. Testing with remarketing is like placing your boat on a river, rather than the open ocean. This applies to your search ads too; not just display.
To limit your risk you want to prioritise the most recent traffic. Recent buyers, recent optins, recent site visitors, recent Facebook page engagement, recent video views. Uploading your best customers (not all customers) to Google and Facebook is a smart move. As is creating lookalike / similar audiences based on these lists.
YouTube is generally under-used or used badly; very few advertisers understand the remarketing applications.
A good question to ask with lead magnets is: can you invest more of the money you would have spent with Google or Facebook into the lead magnet itself? Perry had examples from Gary Bencivenga and Howard Gossage; somebody I’ve been talking about for a number of years now.
You won’t find an agency who will adopt this approach, unless perhaps you seek out someone who was in the room last week. (I can recommend a few serious agency people who were there).
That’s just a tiny snippet of my notes. I’ll publish the rest in Story Selling Insider later this month. If you’re not a subscriber, I’ll send you an invite later this week.
All modesty aside, if you follow along with my work this will be essential reading.
P.S. Some other ‘observations’…
1. I’m not even 5% happy enough to be a flight attendant. Those people are troopers.
2. I never realised quite how many billboards there are in America, displaying an endless stream of dross. To paraphrase Howard Gossage: if advertising were worth saving, billboards certainly wouldn’t be.
3. The highlight of the trip was probably going on a double decker train. Or maybe having deep dish pizza. Or sleeping for 11 hours when I arrived. I’m easily pleased…
4. The lowlight of the trip was paying $5.21 for a bottle of water in the airport. Thieving Bastards.
5. Nobody understands me in America. I ought to stick to writing, or come with subtitles.