Do you plan on starting a New Business? Creating A Business Part 1
The Video transcript. (Forgive errors)
Hey, everyone. Today we’re going to be going over creating a business, part one. Over the next probably 30 days, I am going to show you guys how to generate a business from scratch. We’re going to go all the way from the idea from the product to the service all the way through to the final revenue stream. I will start a business from scratch, show you how to set up from going onto the state website, getting your business license, saving the name to website design, Webmaster Tools, start to finish. Okay?
I look forward to that, but today we’re going to talk about step one, step two. Very first thing is you need to make sure you have a good product or service. Let’s jump over to what we’re going to be doing. How this all started, I had a … That is not the right bottle, just know that. I had a friend come up and said that he had this sore throat. He’s actually my business partner over at Ydraw. He swore by this product. I used to have a big problem with sore throats. I get them once or twice a year, and they would kill. They were bad strep throats. Then, one time it was like this thing called guttate psoriasis, so it was bad.
Well, I hated them. One morning, I went in there and I was like, “Oh, I’m gettin’ a sore throat.” He’s like, “Jace, I have the best stuff in the world. It works.” He gave me some. We went and got some. I sprayed that stuff on my throat, and it was gone. Took about 12 hours, and I’ve used it multiple times since. Once you get a sore throat or you start feeling a sore throat, you just grab this stuff and spray. You do not go through that horrible phase where you have the itchy … you can’t swallow. It was awesome. I turned around, and I said, “Hey, why aren’t we producing this and selling it?” He says, “I don’t know.” I turned around and just said, “Hey, I’m launching this product.”
We call it Sore Throat because that’s what it is. Does it work? Yes. That is the initial thing of any product or service that you do. You have to make sure it’s a good product, and you have to make sure it works. Don’t go out there and try to launch a certain product or service and you have no idea if it’s working or not working. I see that. Or, I’ve seen a lot of people go out there and launch a product or service that just is not beneficial, and it ends up failing. Okay?
Very first step, it’s not like you get a good product and everything happens. That does happen on some occasions, but still, even though you have a great product, you still have to get out there an market it. Okay? There’s a lot of good products out there that end up going bankrupt just because they have no idea how to market it. Okay? Second thing, jump back here to this. Once you have a product or service, you know it’s worked, it’s a good product or service, then you have to look at your message.
Now, this product that we’re doing is very easy. It is basically, “Hey, want relief from your sore throat?” Who are we looking for? We’re looking for people with their sore throat. I created a guide, and I’m going to put this down in the notes that you guys can click on to get access to. Okay. I like to call our message your unique selling proposition. What makes them want to buy your product or service over somebody else’s or doing something else? Okay. It should answer the question, why should they do business with you versus every other option they have?
In this guide, I give you guys examples of really good, unique selling propositions. This is from GKIC community. They help entrepreneurs. It’s part of Dan Kennedy Group. Their unique selling proposition or message is, “Entrepreneurship is hard, don’t go at it alone.” Okay. Who are they talking to? They’re talking to entrepreneurs. Okay. They bring up kind of a pain point as it’s hard. Then, they go in and say, “We created a community of like-minded entrepreneurs and business owners that are focused on improving their business, income, and their lives.” There’s no confusion there. You know what they’re doing, you know that they’re for entrepreneurs, and it says exactly what their whole plan is.
If you go down to the next one, the pet store. “Pet owners are concerned about what their pets are really eating, so we source our food from trusted local vendors who ensure your pets stay happy and healthy.” Okay. They’re talking to pet owners. What do they do? They create food to make sure their pets stay happy and healthy. Okay. You don’t need to get overly complicated. Let’s go to the next one, financial advisors. “Most people can’t get their heads around their financial futures, so we create a financial map that puts all your info on a weekly dashboard giving you peace of mind about your finances.” Okay. You’ll notice they use the words peace of mind, you don’t have to worry. Who are they speaking to? Anyone who has financial issues or is looking to prepare for their financial future.
Used car sales. “Nobody likes to haggle with the car salesman, so we removed the salesman entirely.” Now, that is a very good headline. We don’t like haggling with car salesmen, so that gets your attention. Then, they go in and say, “You can choose and test drive a car hassle free so you have peaceful experience getting the car you want.” Okay. Great.
Real estate agent. “Our 20-step marketing system will sell your house in less than 45 days at full-market value.” Okay. They have a 20-step market system. They’re the experts. They’re going to sell the house. That’s what you want, and they’re going to do it at full-market value, something else that a consumer want.
Ydraw. “Do you have a story that needs to be heard? We’re a whiteboard animation company that loves creating incredible animation videos for you. Want one?” Okay. There’s just not a lot of confusion there. If you even jump over to Marketing Hy’s … When you come to my site, you know what I do. We’re a video marketing company. “We drive view, leads, customers, and sales to your video so that your business can grow.” Zero confusion. If you take this guide that I created, you can just go on here. You’ll see here’s the link, and like I said, I just put it in this YouTube video.
Keep it simple, and you ask yourself what is your customers’ problem? What did you create to solve their problem? If they use your product or service, how will it improve their lives? Okay. You just start creating some drafts, different ideas. Put it together, and then what you want to do is test it. I will test my headlines and make sure that I get one that converts. I’ve tested with running Facebook ads, Google ads, those types of things, and whichever one gives me the highest conversion, that’s the headline I go with. Okay.
Back to this. First thing, product or service. Make sure you have a good one. Then the next thing, you need to make sure you work on your message. It takes a lot of work. Don’t just think you can sit down five minutes. Your message is always going to adjust according to your testing. Okay. Get a very good message. Don’t talk about features. Okay. Now, if I go back to this unique selling proposition … What’s features? This financial advisor, if he was going to talk about features, he would say, “We basically have, uh, the best platform software for an IRA, blah, blah, blah, blah.” He could have started talking about the features of their system. Okay.
Like Ydraw. I could say, “Oh, we have the cleanest whiteboard videos. We have the best-looking whiteboard videos,” those types of things. Those are features. Okay. You don’t want to get caught up in the features of your product, which that’s what most people do. I talk to them about their product or service. They said, “Oh, it’s the best on the market. It has this stuff in the ingredients.” No, we don’t care about that. What the consumer cares about is the actual benefits of the product or service. So, if I use your product or service, what is that going to do for my life? Okay. I don’t care about your ingredients. I don’t care about any of those things. What I care about is how it’s going to improve my life and get me the result. Okay.
It’s like the video marketing … If we go back to my website … “We drive views, leads, sales, and customers to help you grow your business.” That’s what we do. We help businesses grow. That’s the result that people want. Now, I could even go further and go into the results that if they grow their business, what are their results going to be? Financial freedom, okay, stress-free life. I could go further into that, okay, but we like … The business will grow has worked, and we’ve tested it. Now, I’m not talking about Facebook ads. I’m not saying, “Hey, we do Facebook ads, YouTube ads,” all those types of things. Those are features. Okay? We need to talk about the benefits, and the benefit is their business is going to grow. Got it?
If you have questions, let me know. You can always visit our site, marketinghy.com. In the meantime, like I said, I have put this guide to help you create your unique selling proposition, to help you design your right message. It’s just down in the description on this YouTube channel. Okay? Enjoy. We will chat again tomorrow. Great talking. See you.
In April 2011 a childhood friend of mine and I set out on a journey to create a small little story telling business. We loved stories and we found the perfect way to share them. It’s hard to believe that our simple passion has turned into a multi-million dollar idea.
The day our video hit YouTube, the phones started to ring and they have not stopped since.
I want to discuss the importance of storytelling and how you can use it to change your business. (more…)
I have been in business for 10 years and I have found one simple secret to running 3 multi-million dollar businesses. I am going to give you that secret a little later on, but I want to discuss a couple of things first.
I have to confess, my businesses are not perfect. There is nothing that frustrates me more than losing a client. We have lost our fair share because we did not perform. We were not able to do what we said we were going to do.
Did we give it our best shot?
Of course we did.
But the reality was, our best shot was not good enough. The service we provided did not get results. Leads did not come in and sales did not go up.
I have to admit that some of them did not have the best product. A great product is critical for success, but it is still not the number one thing.
Because of our failures, the client have had to shut their doors.
Just the other day I received a phone call from a business desperate to make sales. I talked with him about his product and discovered that he was failing to create the one thing that matters.
He has also come to the conclusion that if things do not change quickly his business venture will become part of the statistic.
So what is the #1 reason businesses fail?
Lack of Leads.
Companies are in business to make a profit, and can only make a profit if they provide the products and services that their customers demand. Meeting these demands means that they are able to generate revenue to keep business going and to even expand it. This is where generating sales leads comes in, because if companies are not bringing in new customers, then they will not be able to grow and will, instead, begin to stagnate.
Qualified leads are the foundation of any business especially in the beginning stages.
Here is how you generate a lead.
Let’s say you have product or service that is really good or at least you think it is. The market will solidify your thinking over time, but until you make enough sales you really do not know if you product or service is any good.
There comes a point, where a good product will have enough traction to generate sales automatically. But, to get there, you have to craft the perfect message and then deliver that message to the right audience.
If they are interested they will call, buy, or leave their contact info. That is a lead. Someone who has heard your message and is interested in what you have to offer.
Without leads, a sales team cannot be successful. Therefore, generating good leads is just as important as refining your pitch or closing well.
A lead has the potential to turn into a sale, which will turn into cash. Without cash you can’t pay your bills.
So, what can you do to produce more leads?
Here at Yinc our job is to produce leads. We have systems in place that generate leads on demand for most businesses. It’s a process, but when you have 500 leads a week coming into your sales force, good things happen.
Our top 4 sources of lead generation.
1. YouTube In-Stream and In-Display ads
YouTube is a great source of leads as long as you create a compelling video and be strategic in your ads spend. We pay around 12 cents a view and a view is only counted if the viewer watches past 30 seconds.
2. Gmail Video Ads
Eighty-one percent of shoppers conduct online research before they make a purchase. Sixty percent begin by using a search engine to find the products they want, and 61 percent will read product reviews before making any purchase. On average, a consumer will visit three stores before making their purchase.
Consumers love to research and shop. Which mean that Gmail can serve up ADS to those who are looking for your product or service. We like to target our competitors keywords and websites within gmail account. This can be a very effective for most businesses.
3. Video Remarketing
When a future buyer watches your video or visits your website, you will want to retarget them. That mean you will want to serve them up other video ads and banner ads for a couple of days. Amazon does it, and so should you.
4. Facebook and Instagram Video Ads
There is huge potential with Facebook and Instagram. We have been able to take business with a $20 a day budget and drive them multiple leads. There are a whole combination of ads you can run with Facebook and Instagram. Try it!
Obviously, we have other avenues, but that is a great place to start.
If you would like to sign up for a FREE video marketing proposal, Just fill out the form below.
Happy Marketing and thanks for reading our blog on:
Why 80% of businesses Crash And Burn. The #1 Reason 8 out of 10 Businesses Fail
I Love Podcasts and I have been listening to some of the top Marketing Podcasts over the past 12 months. It’s kind of crazy that we can learn from the best minds in our industry all for free.
I am always preaching that people should skip college, listen to Podcast and watch YouTube Videos. You will learn more. It’s a great habit to get into especially if you are running a business. Podcasts can keep you focused and inspire you to keep moving. Plus it’s fun listening and learning about the struggles, challenges, triumphs, and successes that others are going through.
So here are…
The Top 10 Marketing Podcasts that are worth your time.
Growth Everywhere is a lot like The Top. Eric interviews all types of Entrepreneurs. They give you a lot of little tips you can apply to your business. I also like the fact that Eric interviews people who are just starting out.
The Social Media Marketing podcast is hit-or-miss for me. They have some good content, but I have to pick and choose what I want to listen to. They hit almost every social media avenue, so it’s a great start if you are looking to get an overall view of all things Social Media.
If you are running a SaaS business you have to listen to this Podcast. Jason Lemkin is all about getting you from $0 to 100m Annual Recurring Revenue. (ARR) It is jammed packed with ideas and great interviews.
If you have no idea what SaaS stands for, get in line. I probably heard this term for 2 years before I even knew what the word meant. SaaS stands for Software as a Service. Now doesn’t that feel better?
We are finally to part 3 of scaling your business. It has been an eye opener thus far and I can’t wait to see what the next 6 months hold. If you haven’t read part one or part two you may want to.
Here are the links:
The other morning I was laying in bed in the twilight zone. I may be a little weird; I’ve had some crazy ideas come to me in the realm between fully awake and asleep. It’s like my brain is firing on all cylinders and the ideas start to flow.
It may sound crazy to some, but it happens to me all the time. One of these days I’ll tell you about the time I did calculus all night in my dreams, which helped be get a 99% on my calculus test.
Anyhow… I jumped out of bed and sketched our marketing blueprint.
As I looked at it, I could see a few holes that need to be filled and where we could adjust our remarketing and banner ad campaigns.
I’ll keep you posted on our results in the coming weeks. But for now, we have a complete online marketing blueprint. Here’s what it looks like:
As you can see, I am not the artist behind Ydraw videos. My chicken scratches will pass for a third grader and are fine for the time being, but I’m having this created professionally.
When I got done drawing I could see why we were generating so many leads. This Online Marketing Blueprint is a system that keeps getting better and better over time. To get the kind of results we are getting, each section has to be mastered. For example…Adwords is a big part of our business. We have put in a lot of time and effort to create the right text ads, keywords campaigns, display campaigns, etc. The same goes for Facebook, emails, and YouTube. Each section needs to be perfected.
It’s a lot of work, but very doable.
If you leave a part out…it may not work.
I just know that we have gone from 100 leads per week to 500 leads per week in a 3-month period. Which brings with it some growing pains, but those are great problems to have.
Here are the numbers from our Adwords accounts:
Cost per lead $99.79
Click To Conversion Rate was 3% to 9%
Cost Per Lead: $54.55
Click to Conversion Rate 13%
The Changes We Made to Adwords
You can see we’ve doubled our leads and cut our cost per lead in half. With the small changes we are making weekly, I can see this getting even better over the next couple of months.
Here are some of the changes:
We redesigned and simplified the website. I can’t stress the importance of simplification. Cut out steps and cut out the clutter. It made a huge impact on our conversion and I know it will make a huge impact on yours.
Create one call to action. What do you want the audience to do?
Google eliminated the right hand ads which gave us a little boost. This may have hurt a lot of other companies. We were always bidding high. It eliminated some of our competition.
Added more negative keywords.
Did A/B testing with text ads.
**added Gmail sponsored ads to the mix**
Gmail Sponsored Ads
I hate giving away secrets like Gmail Sponsored Ads because I know there are other video companies out their watching our every move. It’s a curse, but I want to make sure I give you as much value as possible.
In return I ask that you subscribe to our blog. It’s for the greater good. 🙂
Gmail sponsored ads have been a big focus of mine for the last couple of weeks. With Gmail sponsored ads you are able to run ads within Gmail.
We can place ads based on the account activity of a personal Gmail account. Think of all Gmail users out there. We are able to run promotions directly in their inbox.
The Gmail advert is set out in two sections in the Gmail inbox – a collapsed ad and an expanded ad, but essentially this is the same advert. The collapsed ad appears as a ‘new message’ in your inbox and when you click on it, this then leads you to another ad – the expanded ad. You pay for the cost per click (CPC) every time somebody clicks on the collapsed ad. The expanded ad then leads the user to your landing page; however, you do not pay for the click from the expanded ad to the landing page (this is free).
Here is what one looks like.
They are simple and have had a big impact on our Adwords account.
I created a simple tutorial video on how to set up Gmail sponsored ads. Watch it so you can see what I am talking about.
Now let’s jump over to Facebook and Instagram.
When we first started…here is what the numbers looked like:
Facebook and Instagram
(30 Day Time Period)
Number of Leads 446
Cost Per Lead: $10.45
Facebook and Instagram March 2016
(30 Day Time Period)
Number of Leads: 1461
Cost Per Lead: $4.77
Yay for Facebook and Instagram! Our leads have gone up drastically and our cost per lead has been cut in half.
Here are the changes we made to our Facebook and Instagram ads to achieve our results:
We basically had Facebook track anyone who hit our conversion page and created a lookalike audience that matched our conversions. It has been very effective.
Created a new whiteboard animation video that provided a little better messaging.
Increased our ad spend budget.
Allowed our good ads to keep running continuously.
That is exactly how we increased our leads.
Please note that we have created an overall system and you are getting a glimpse into this portion of our marketing campaigns. There are more videos and blogs coming in the near future (and most likely a book).
Now it is your turn.
Let us know if you have any questions. We would love to help implement our whole marketing strategy to your business.
Thanks for reading Incredible: From 100 Leads Per Week To 500 Leads Per Week. See How We Did It!