In episode #518, Eric and Neil explain why it is very important to travel in order to successfully market to other countries and regions. Tune in to hear how traveling will help alter your perspective and the differences between some countries around the world.
Time-Stamped Show Notes:
- [00:27] Today’s Topic: How Traveling Helps You Become a Better Marketer
- [00:34] Eric just got back from Japan and the trip gave him a lot of perspective.
- [00:49] He was invited to speak at an event and was given the opportunity to meet a lot of Japanese marketers.
- [00:52] He learned that LinkedIn isn’t popular there and people are more traditional in the work force.
- [01:15] A guy Eric met has his employees working from 7am to 10pm, which is a big difference from the American work culture.
- [02:15] The majority of the people in this world do not live in the US. If you really want to learn how to market to people in other countries, you have to travel.
- [02:35] Neil learned that Brazilians prefer to purchase from Americans over Brazilians.
- [02:42] In Brazil, when you do a payment plan, the law states that you must see the payment plan through.
- [03:06] Without traveling, you won’t understand what drives people to purchase.
- [03:22] The US is a melting pot, so traveling will be helpful to understand places within the country.
- [04:00] Eric met the CEO of a marketing agency and realized that in Japanese culture, it’s important to woo and entertain your clients in person.
- [04:47] Once you sign with an agency, the relationship spans years, unlike in the US, where people jump around a lot.
- [05:18] The cost to acquire a customer in Japan is more than in the US.
- [05:44] Their LTV (Life-Time Value) in Japan is almost double what it is in the US.
- [05:59] What Eric and Neil do in Japan wouldn’t work in the US.
- [06:25] In Germany they are very efficient, while Amsterdam is more laid back.
- [07:06] That’s all for today!
- [07:08] Go to singlegrain.com/giveaway for a special giveaway.
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