In episode #648, Eric and Neil discuss how to prioritize your marketing. Tune in to hear what you should be doing before anything else.
TIME-STAMPED SHOW NOTES:
- [00:27] Today’s Topic: What Runs First? How to Prioritize Your Marketing
- [00:50] If you are improving every week by 1-2%, this means you are improving by 50% per year, which is a good place to be,
- [01:16] Look at the funnel first: you can see in Google Analytics what’s working and what isn’t.
- [01:41] From there, you can determine what to focus on.
- [01:57] Look at what’s causing the biggest drop-off and run AB tests.
- [02:38] If you have a leaky bucket, you wouldn’t pour more water in.
- [02:53] Make sure your funnel is optimized before you drive a lot of traffic to it.
- [03:00] Both Eric and Neil know a man named Shaun Ellis who was on the growth team for Dropbox.
- [03:10] He went on to create Growth Hackers. They have since released a growth management tool. North Star.
- [03:40] North Star uses the ICE model (Impact, Confidence, Ease)
- [04:36] Average your scores in each category.
- [04:44] North Star allows you to test different hypotheses.
- [05:15] The problem with the ICE framework is that it only works if someone in your company knows marketing really well.
- [05:52] Once you fix your funnel, it’s all about driving traffic to your site/funnel.
- [06:00] The best traffic is paid traffic.
- [06:12] For paid traffic, you can try Facebook, Taboola, Outbrain, etc.
- [06:30] Measure traffic based on the ROI.
- [07:04] That’s all for today!
- [07:07] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!
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