Dan Martell - August 01, 2022


The Only Marketing Strategy You'll Ever Need


Episode Stats

Length

15 minutes

Words per Minute

183.1471

Word Count

2,819

Sentence Count

128


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 What happens with most founders is they hire somebody to do marketing, but they don't have
00:00:04.560 a playbook. They're not measuring anything. They're not driving demand. Your business right
00:00:09.620 now is referral-based. Hey there, everybody. I'm Dan Martell, serial entrepreneur, investor,
00:00:26.560 and creator of SaaS Academy.
00:00:28.100 In this episode, I'm gonna share with you
00:00:29.660 how to structure your marketing team
00:00:31.640 to produce massive demand generation results, okay?
00:00:34.900 So if you have one marketer, two marketers,
00:00:37.860 three, or a whole bunch,
00:00:39.540 I'm gonna show you the way I think about
00:00:41.400 using an agile approach to designing a marketing team
00:00:45.500 that can execute, implement, and most importantly,
00:00:49.600 generate qualified leads.
00:00:52.360 That is the name of the game in marketing.
00:00:53.940 Be sure to stay to the end
00:00:55.320 where I'm gonna share with you
00:00:56.280 my marketing team designer template.
00:00:58.460 It's literally not only the list of different strategies
00:01:03.460 that you can assign to people
00:01:04.540 on how to design the org structure
00:01:05.900 based on the philosophy I'm gonna teach,
00:01:07.440 but also the list of metrics that you wanna be asking
00:01:10.280 and reviewing with your marketing team
00:01:12.020 to know that they're being effective.
00:01:14.100 So let's get into this.
00:01:15.200 So I love marketing.
00:01:16.360 Marketing is one of my favorite departments
00:01:19.260 because they tell stories.
00:01:21.280 They use automation, so it's like my nerdy side.
00:01:25.120 It's metrics driven, it's very quantitative,
00:01:27.820 but it's also got some qualitative aspects to that.
00:01:29.960 I've personally been involved
00:01:31.540 in building dozens of different marketing teams
00:01:34.480 focused on not only the PR, the brand side of things,
00:01:37.500 but specifically the demand gen, the advertising,
00:01:40.940 the direct response campaigns that really drive revenue.
00:01:45.280 I've been responsible for generating
00:01:47.380 close to $100 million worth of business
00:01:50.140 through marketing strategy and campaigns.
00:01:52.460 And it is different when you're at 10K a month
00:01:54.780 and reoccurring revenue versus, you know, 100K,
00:01:57.680 or when you're selling a million dollars a month,
00:01:59.660 the marketing team has to shift.
00:02:02.220 And what I wanna share with you is the philosophy
00:02:06.160 of how to think about assigning certain things
00:02:08.660 and hats to people and measuring the right process
00:02:11.660 so that you don't, like what happens with most founders
00:02:15.660 is they hire somebody to do marketing,
00:02:17.620 but they don't have a playbook.
00:02:18.940 And then the person starts doing stuff,
00:02:21.140 but they're just, they're executing social media campaigns.
00:02:24.160 Like they're not measuring anything.
00:02:26.040 They're not driving demand.
00:02:27.340 It's your business right now is referral based.
00:02:30.180 Go away from referral and organic traffic
00:02:33.740 and it just, whatever it happens by chance
00:02:36.060 to happens by strategy, by tactic.
00:02:39.000 And that is my approach.
00:02:40.280 And that's what I'm gonna double click on
00:02:41.920 and give you everything I know around that topic
00:02:44.480 so that you can design a marketing team
00:02:46.260 that will be effective and productive,
00:02:48.860 especially when you're investing dollars
00:02:50.500 into generating opportunities.
00:02:52.200 Number one, design the tactics.
00:02:54.160 So what I've discovered is some people call things marketing
00:02:57.840 that are really not marketing, okay?
00:02:59.820 So there's this great analogy I'm gonna share with you is,
00:03:03.560 I'm gonna try to remember it,
00:03:04.520 but it's a circus comes to town, okay?
00:03:07.780 And you put the sign on,
00:03:12.020 you put the circus date that it's coming
00:03:14.340 and you put it on a wooden sign
00:03:16.280 and you stick it in the middle of an intersection,
00:03:17.980 that's called advertising.
00:03:19.600 You take the elephant and you let it loose in the,
00:03:26.200 you know, in the city and it creates a big problem.
00:03:28.600 That's called public relations.
00:03:30.560 You, you know, you get the mayor to talk about it.
00:03:34.520 That's called a different thing, right?
00:03:36.720 You have the booth and you have a person going to the mall
00:03:40.160 and they're convincing people to go to the circus
00:03:42.180 and they're buying tickets, that's called sales, okay?
00:03:45.820 And you have all these different things
00:03:48.080 that you could do for the circus
00:03:50.140 and all of that will generate ticket sales,
00:03:52.960 but that strategy, that's called marketing.
00:03:56.200 And what I feel is some people confuse that word
00:03:59.260 with the tactics.
00:04:01.080 And to me, it's about designing the tactics
00:04:03.580 to actually produce the results.
00:04:05.600 So marketing is more than just,
00:04:07.540 because you can't just hire an agency.
00:04:09.300 People do this all the time.
00:04:10.260 They hire an agency and they say like,
00:04:11.600 generate leads for me on Facebook.
00:04:14.120 That's interesting and they can do that
00:04:16.840 if you give them the strategy.
00:04:18.360 So the marketing strategy is what is our core customer?
00:04:22.820 What is the problem we're solving for them?
00:04:24.800 What's the message that we're gonna lead with in the market?
00:04:28.040 What are the assets involved in that communication stream?
00:04:31.560 And then what channel are we gonna go put that in
00:04:34.400 to make the awareness of that, you know,
00:04:37.420 of the pain that we solve?
00:04:39.440 And then you can give that to an agency to go run ads, okay?
00:04:44.120 But where it always falls down is when people think
00:04:47.620 that marketing and tactics are the same thing.
00:04:50.320 And they're not, the tactics are individual.
00:04:52.900 Marketing is the strategy.
00:04:54.440 And if you don't have a strategy for who you sell to
00:04:57.580 and how you communicate with them
00:04:59.500 and build the infrastructure for automation
00:05:01.960 and for monitoring stuff,
00:05:03.640 then you're just gonna have somebody take over
00:05:05.740 an activity and a tactic and they're gonna fail
00:05:07.780 because nobody owned the marketing strategy side of things.
00:05:10.480 So that's number one.
00:05:11.400 Number two is create the plan, okay?
00:05:13.800 Create the plan, here's what I mean by that.
00:05:16.260 Marketing is not just a thing, it's the whole stack.
00:05:19.300 So when I start working with a new coaching client,
00:05:22.580 my private clients, I always do what's called a growth map.
00:05:25.360 And we identify not only the message
00:05:28.680 that we're gonna put in to kind of get the person
00:05:30.680 to become an opportunity, we also look at the channel
00:05:33.540 we're gonna put that message in,
00:05:34.640 then we're gonna look at the conversion tool,
00:05:36.160 how do we actually sell?
00:05:38.140 Is it a trial, is it a demo, is it a proof of concept?
00:05:41.840 And then if they don't buy,
00:05:43.200 what is the follow-up structure?
00:05:45.080 And that is the plan, that is a complete stack.
00:05:48.260 If I know the channel I'm putting the message in,
00:05:50.600 the message is gonna get this person to respond,
00:05:52.480 how I'm gonna sell them and it's working,
00:05:54.400 and then what do I do to follow up and it's working.
00:05:56.680 If I can get all those four things green,
00:05:59.660 then I actually have a complete plan.
00:06:02.780 And what I see often in marketing world is people that,
00:06:06.760 you know, it's kind of like if I'm building a house,
00:06:08.880 all they do is clear a lot and then they start,
00:06:12.420 you know, getting some wood and start framing up walls.
00:06:15.520 It's like, okay, you're gonna just frame up walls.
00:06:17.920 And what are you, you're gonna just,
00:06:19.400 you're gonna put this here, they're like, yeah.
00:06:20.940 So like they launched Facebook ads
00:06:22.920 and they have no backend automation
00:06:25.720 to get somebody scheduled.
00:06:26.680 So they're just like, run some ads, get some leads.
00:06:29.320 And then what, they like email the prospects.
00:06:32.660 They try that, but then it doesn't work
00:06:34.520 because there's not enough volume.
00:06:35.440 And then there's not enough throughput and it's slow.
00:06:37.420 And the people that download it
00:06:38.600 aren't hearing from anybody for weeks
00:06:40.340 because the person's busy doing other stuff.
00:06:42.080 and it's just such an interesting concept.
00:06:44.360 So if you don't design the complete stack and plan,
00:06:48.020 then your marketing strategy will not work.
00:06:52.320 So it's not even just the tactic
00:06:53.960 of what channel you're putting in
00:06:55.200 and what you're gonna use to get them to converse with you
00:06:59.160 or respond to you, it's also what happens after the fact.
00:07:03.120 And then if somebody doesn't buy, what's the follow-up?
00:07:05.620 Because once you build that complete stack,
00:07:08.500 then you know if you put 100 people in the top,
00:07:11.220 You know how that's gonna produce at the bottom,
00:07:13.540 but I mean, I see people put 100 people in the top,
00:07:15.960 and then only one person ends up at the bottom.
00:07:18.280 It's not that you couldn't have got 10,
00:07:19.940 but you didn't look at it through a complete funnel,
00:07:22.220 and people are dropping off at different stages.
00:07:24.200 Your sales calls were horrible, you didn't have follow-up,
00:07:26.900 you didn't have a great conversion tool,
00:07:28.860 you didn't have a great lead magnet,
00:07:30.060 and essentially those 100 people turned into one
00:07:31.880 instead of 10, and then you think,
00:07:33.660 oh, this channel doesn't work, Facebook doesn't work for us,
00:07:36.440 LinkedIn ads don't work for us,
00:07:37.760 Twitter doesn't work for us,
00:07:38.780 going to events don't work for us.
00:07:40.500 No, the strategy completely can work, okay?
00:07:44.500 Because if it didn't, people wouldn't do it.
00:07:46.500 If you go to an event and there's a booth there
00:07:48.960 and people are promoting their business,
00:07:50.880 people wouldn't do that if it was ineffective.
00:07:52.800 They wouldn't do that if it wastes money.
00:07:54.560 You didn't figure it out
00:07:55.700 because you didn't design the plan.
00:07:57.460 You were building the house, you cleared the lot,
00:07:59.120 and you just started framing up walls
00:08:00.240 and thinking, this is how I build a house, okay?
00:08:02.080 You need the blueprint, you need to evaluate it,
00:08:04.420 you need to get the engineering stamp done
00:08:06.580 so the whole thing doesn't fall in on itself.
00:08:08.280 So you need to design the plan.
00:08:10.260 Number three is no measure, no growth, okay?
00:08:13.760 I can tell within 30 seconds
00:08:16.320 of talking to any software founder that I coach
00:08:18.980 the maturity of their marketing
00:08:21.220 based on the ability for them to answer simple questions.
00:08:24.480 How many leads you generate?
00:08:26.400 What does those leads cost?
00:08:27.640 How many of those convert to opportunities?
00:08:29.380 What does that cost?
00:08:30.700 What's the show rate?
00:08:32.040 What's your conversion rate from sales calls, et cetera, et cetera.
00:08:34.560 I can literally ask a handful of questions
00:08:36.840 and based on how they answer, I can tell.
00:08:39.600 and it's little things,
00:08:40.600 because I can, if they say something like,
00:08:42.520 oh, I think it's about 36 a month.
00:08:44.980 I can just tell they don't really know.
00:08:46.500 About 36 a month.
00:08:48.060 These are data points that you should be measuring
00:08:50.520 daily on the marketing team, weekly as a department,
00:08:54.100 and definitely weekly as an executive leadership team.
00:08:57.220 So if you're the founder and you can't specifically tell me
00:09:00.380 how many leads, how much pipeline, what did it cost,
00:09:03.580 then you don't know what's going on
00:09:05.560 in the marketing department.
00:09:07.140 And you think, well, I'm just,
00:09:08.140 I give that to somebody else.
00:09:09.040 aren't they supposed to run it you're responsible for revenue generation that is a core component
00:09:14.400 of that engine and you want to at least get on a weekly basis those numbers so no measurement
00:09:20.000 no growth i see this all the time it's like if you can't measure it you can't improve it so what
00:09:25.680 happens is you have a marketing team that keeps coming up with the next great idea the next great
00:09:29.600 idea i think we should do this i think i think we should do an event let's go spend 40 grand
00:09:35.760 and producing an event, I think it's gonna sell.
00:09:37.960 It's like, well, what about the ads
00:09:40.740 that we're currently running, how are those producing?
00:09:42.620 Well, they didn't really work out,
00:09:43.740 let's just turn them off.
00:09:45.380 Wait a second, why are we turning them off?
00:09:48.060 Tell me where it fell apart, what did you try to fix it?
00:09:50.600 Did you actually like give it two legit tries?
00:09:54.820 No, well why don't, that's already running,
00:09:56.980 we can make something work,
00:09:59.140 something that's running that's not working,
00:10:01.200 that's easier to fix in trying to start something
00:10:03.120 from scratch, or like, you know,
00:10:05.260 I don't think our YouTube's converting.
00:10:07.160 Well, again, what are the numbers?
00:10:10.840 How many leads come from our YouTube channel?
00:10:13.080 What do those leads do
00:10:14.440 in a sales component point of view?
00:10:16.300 Okay, it doesn't work right now
00:10:18.340 because it doesn't have enough volume,
00:10:19.240 but what if you 3X the volume?
00:10:21.100 So the question is, is what could you do
00:10:22.660 without spending any more money or time
00:10:24.500 to 3X the volume of leads coming from YouTube?
00:10:27.820 Oh, well, if you ask it that way,
00:10:30.060 there's actually some really great answers.
00:10:32.600 This is what I'm trying to share with you guys,
00:10:34.300 is that the questions, once you measure,
00:10:37.500 then you'll understand where the lack of growth is,
00:10:40.180 and then you'll be able to ask questions of your team
00:10:42.040 that will get them focused on solving the right problems.
00:10:45.440 Right now, most marketing teams
00:10:46.880 are playing a game of whack-a-mole.
00:10:48.360 They're just like solving one problem,
00:10:50.740 moving on to the next one,
00:10:51.800 it creates another problem solving off the next one.
00:10:53.260 I mean, it's everything from attribution to,
00:10:56.900 I mean, I've seen literally companies,
00:10:59.460 their revenue drop and they don't know why,
00:11:01.940 and it's because they migrated platforms
00:11:04.140 and some automation didn't get migrated.
00:11:06.780 So all of a sudden the email nurture
00:11:09.160 post appointment setting wasn't firing
00:11:12.700 or the SMS notifications, which is another huge,
00:11:16.080 go check out my YouTube channel
00:11:17.320 and search SMS marketing or SMS advantage.
00:11:20.500 You'll find a video where I do like text messaging
00:11:23.180 will increase your show rates by 30%
00:11:26.380 and increase your sales.
00:11:28.020 And if those notifications get turned off
00:11:30.520 and nobody's paying attention and they just say,
00:11:32.480 oh, it's not working anymore.
00:11:33.560 let's go do a different channel, let's go do LinkedIn.
00:11:36.820 This is where people, they not only have no growth,
00:11:40.200 they just waste money.
00:11:41.340 So no measurement, no growth.
00:11:43.260 Number four is assign accountability.
00:11:45.740 So within my organization, all of them,
00:11:48.440 I have an accountability chart.
00:11:50.280 In the accountability chart,
00:11:51.360 every department has the department, it has the people.
00:11:55.520 And on every one of those spots,
00:11:58.180 we have the specific area of responsibility
00:12:02.200 that they are responsible for,
00:12:04.160 which tells everybody else on the team
00:12:06.080 the decisions that they can make.
00:12:08.360 And the reason you want this is because
00:12:10.660 if somebody on your support team
00:12:11.920 sees something go out on Twitter,
00:12:13.720 they wanna be able to go look at the accountability chart
00:12:15.680 and send that to the right person, right?
00:12:18.260 They don't wanna send it to a marketing leader,
00:12:19.600 he's busy with other stuff.
00:12:20.980 You wanna literally create an accountability chart
00:12:24.280 that makes it absolutely foolproof
00:12:27.420 to say who owns YouTube, who owns Facebook,
00:12:30.320 who owns creating the content production schedule.
00:12:34.400 Like every major function in your business
00:12:37.800 should have it tied to a name on the team.
00:12:40.880 So that way the rest of the team knows who to contact
00:12:43.620 if there's an issue and the individual knows
00:12:46.600 what the expectations should be for themselves.
00:12:48.480 Like what am I responsible for?
00:12:50.440 That to me is one of the biggest opportunities
00:12:54.660 of a marketing team is getting just super clear
00:12:57.780 on the accountability.
00:12:59.140 If you own our private Facebook group, you own it.
00:13:02.820 You own the production, you own the content,
00:13:04.980 you own the community, you own the building it,
00:13:08.420 you own the results of it.
00:13:10.140 We invest in it, what are the results?
00:13:12.180 What's the ROI?
00:13:13.100 If we put a dollar amount to the investment every month,
00:13:15.660 how many leads did it generate every month?
00:13:17.460 That is the cost per lead.
00:13:19.260 And it doesn't have to be scientific,
00:13:21.140 it can be very high level,
00:13:22.560 but then that person can start making better decisions
00:13:25.520 around that based on the ownership level
00:13:29.020 of that accountability.
00:13:30.260 So assign accountability.
00:13:32.240 So quick recap, four key strategies
00:13:35.140 for building a world-class marketing demand gen team.
00:13:38.180 Number one is decide the tactics.
00:13:39.800 Number two, design the plan, the full stack funnel plan.
00:13:44.100 Number three, no measure, no growth.
00:13:46.980 If you can't measure it, you can't improve it.
00:13:49.160 And number four, assign accountability,
00:13:52.080 the responsibility and the decisions who owns them.
00:13:55.380 So as I mentioned at the beginning of this episode,
00:13:57.460 I wanna share with you
00:13:58.220 the marketing team designer workbook.
00:14:01.100 So essentially in there, there is a chart
00:14:03.380 and it's got all the different marketing tactics
00:14:05.580 that you can execute.
00:14:06.760 It gives you the opportunity to write the role
00:14:09.240 and the areas of accountability
00:14:10.720 and what tactics they're responsible for.
00:14:13.260 Only one tactic per person.
00:14:15.380 Sure, they can collaborate with other people on the team
00:14:17.720 to get that done.
00:14:18.800 And then I also have the key metrics
00:14:21.260 that you should be monitoring for every marketing team.
00:14:23.540 you can click the link below to download your copy.
00:14:26.620 It's an exclusive resource just for you.
00:14:29.260 If you wanna learn how to design your marketing team,
00:14:31.620 there's a bunch of other stuff in the workbook.
00:14:33.420 Click the link below to download it with the metrics.
00:14:35.760 And if you like this video,
00:14:36.880 be sure to smash the like button, subscribe to my channel,
00:14:39.920 and let me know in the comments
00:14:41.400 what was the most useful thing for you
00:14:43.400 in your marketing team and your marketing efforts.
00:14:45.500 Leave a comment below, let me know.
00:14:47.420 And as per usual, I wanna challenge you
00:14:48.640 to live a bigger life and a bigger business.
00:14:50.940 I'll see you next Monday.
00:14:53.540 Thank you.