This Week’s Guest
It’s increasingly important to be excellent at what you do in today’s world. Being “good enough” simply isn’t good enough anymore. You need to have a unique selling proposition and be #1 in your market to get consistent business. In fact, as you’ll learn in this conversation, this is especially true online. The familiar 80/20 rule is shifting to a 95/5 rule on the internet.
Perry Marshall literally wrote the book on 80/20 Sales and Marketing. He joins me today to explain how you can do better in your online marketing. He’ll explain the tactics and strategies behind high-performing ads on Google and Facebook. He’ll also dig into various tips and tricks for optimizing your AdWords performance. Perry is also the author of the Ultimate Guide to Google Adwords, which is used as course material in several business schools.
Find Out More About Perry Here:
In This Episode:
- [02:11] – What would be something that would be a big epiphany for a listener who isn’t super into AdWords but is interested in the process?
- [06:07] – AdWords has been around for almost 16 years, and Perry started using it almost as soon as it came out.
- [07:19] – Perry points out that you need to pick your battles when it comes to AdWords. He also recommends that you start with remarketing/retargeting with any new thing you do on AdWords.
- [11:09] – Stephan clarifies: by buying warm traffic first, you’re lowering the price of the cold traffic that you will be buying later.
- [12:37] – Perry discusses Quality Scores, and what Google looks for when calculating them.
- [18:09] – Stephan and Perry discuss tactics versus strategy, and then Perry returns to discussing the early days of AdWords.
- [21:17] – Everybody makes money easily in a growing market, leading people to think that they were smart when in fact they were lucky, Perry explains.
- [24:08] – Perry gives an example using Coke and Pepsi to illustrate what he means about being the #1 person in a specific market.
- [26:50] – The most important decision in any of this is picking your battles.
- [28:48] – What’s an example of a shrinking market that you should stay away from? Perry’s first reaction is bookstores. He then talks about the signs that indicate that a particular industry is growing.
- [32:09] – We go back to AdWords specifically, with Perry discussing tactics and strategy around getting your click-through rate higher than it currently is.
- [36:52] – Perry recommends using the additional space within the ad for a specific purpose.
- [38:55] – Stephan gives an example to clarify what Perry has been saying.
- [39:17] – Everything you do in 2018 needs to have a unique selling proposition and say things that nobody else is saying.
- [42:03] – Stephan relates Perry’s point to something that Tony Robbins has said about the importance of having an outstanding product.
- [42:43] – We live in a winner-take-all world, Perry explains, and points out just how extreme this is on the internet.
- [44:48] – What would be an example of a 95-5 strategy or activity that would be in the 5% that generates 95% of the value?
- [51:00] – Now that Perry has illustrated the incredible value of having a unique selling proposition, he explains what his own USP is.
- [54:15] – What’s the next step for listeners who want to get in touch with Perry and possibly work with him?
Links and Resources:
- Perry Marshall
- @PerryMarshall on Twitter
- Perry Marshall on Wikipedia
- Perry Marshall on Facebook
- Perry Marshall on LinkedIn
- 80/20 Sales and Marketing
- Ultimate Guide to Google Adwords
- Google AdWords
- Negative keywords
- Beware the Naked Man Who Offers You His Shirt by Harvey Mackay
- Nassim Nicholas Taleb
- Quality Scores
- The Art of War by Sun Tzu
- Google Display Network
- Ship a Car Direct