Ralph: 00:00:11

If you're investing in video content and brand which is always a

2

: 00:00:14

step and kind of the growth journey

of a business, you're doing a lot of

3

: 00:00:19

direct response work and you decide

to invest in better video creative and

4

: 00:00:24

you're going to push on video based

networks, whether that's TV or digital

5

: 00:00:28

channels for video and you may not see,

immediate conversion a lot of times.

6

: 00:00:34

So what you're going to want to

do is look for other metrics.

7

: 00:00:37

That give you signal into either future

revenue or revenue moment, a good one

8

: 00:00:42

would be email signup rate, right?

9

: 00:00:44

You're running a lot of video content

online and you're acquiring more emails

10

: 00:00:50

than you have in the store directly

attributable to, whatever that video

11

: 00:00:53

channel is or just overall, right?

12

: 00:00:56

Because your brand is lifted,

you're seeing an elevation.

13

: 00:00:59

, whether it's, YouTube or meta or tick

tock wherever you're running video, you

14

: 00:01:04

may not see that immediate conversion,

you've got to look elsewhere for signal

15

: 00:01:09

and email signup rate is a good one.

16

: 00:01:10

This is a bit of a black hole

for a lot of our listeners is

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: 00:01:14

all right, I'm running videos.

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: 00:01:15

I know I'm supposed to be doing this

and maybe I'm a brand that's trying to

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: 00:01:19

get to that next level of scale where.

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: 00:01:22

I've been running website conversion

ads straight to a purchase or straight

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: 00:01:25

to whatever your ultimate signup is.

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: 00:01:27

It might be like a webinar

registration with it.

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: 00:01:29

Then they buy on the back end

or whatever it happens to be.

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: 00:01:31

But in most cases, it's

usually it's a purchase.

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: 00:01:34

You do a lot of stuff in the e

commerce space as does his agency,

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: 00:01:38

but it's like that middle ground where

they're not really taking an action.

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: 00:01:42

It's always, I should be doing it.

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: 00:01:44

It's like having my vitamins every single

day, but I don't really know what the

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: 00:01:47

effect is, then as soon as you turn it

off, all of a sudden everything changes.

30

: 00:01:51

Depending on where they are in their

life cycle or their business, maybe a

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: 00:01:54

third party tool might be advantageous

there, how do you really do it?

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: 00:01:58

Let's say that you're running Facebook

ads, video, brand awareness, or like

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: 00:02:03

higher level video view, or you're

running YouTube ads, but you're

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: 00:02:07

not seeing direct sales from that.

35

: 00:02:09

How do you merge the two and fill

in the effect of those things?

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: 00:02:14

What's the best strategy you found?

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: 00:02:16

a good example would be, you're running

video, you're not seeing immediate

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: 00:02:20

conversions, but you are seeing email sign

ups right for the sake of discussion here.

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: 00:02:26

and then you do an email drop 30 days

later, or at the end of the, or whatever

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: 00:02:30

time frame when you normally you're going

to look for an email revenue boost, right?

41

: 00:02:34

Hey, is email revenue going

up when I drop emails from all

42

: 00:02:39

those new folks I acquired.

43

: 00:02:40

Okay.

44

: 00:02:41

Am I generating more revenue than I used

to really just simple, . The other thing

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: 00:02:46

you could look at is, am I getting a

higher click through on my other channels?

46

: 00:02:52

Has my performance

increased on other channels?

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: 00:02:54

That's a, makes a lot of sense, right?

48

: 00:02:56

Or am I getting a lot more new visitors?

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: 00:03:01

To my website that I used to

write, is my new customer visit

50

: 00:03:05

rate higher than it used to be.

51

: 00:03:07

So those are the kinds of things

you're going to want to be looking for.

52

: 00:03:10

You're looking for some kind of signal

around the investment in brand, right?

53

: 00:03:15

The investment in video content.

54

: 00:03:17

That isn't just trying to get someone

to convert that day or that week.

55

: 00:03:22

So you've got to find ways to figure

out your ROI on that investment.

56

: 00:03:26

It's a challenge to do it.

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: 00:03:28

think sometimes equate

this question back to.

58

: 00:03:31

A conversation with a CEO and

a group that I belong to.

59

: 00:03:35

And he's the only way that I

ever know if my video stuff is

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: 00:03:38

working is if I shut it off.

61

: 00:03:41

I don't get any more emails.

62

: 00:03:43

And then I pay the price 30

to 60 days down the road when

63

: 00:03:46

they buy through my email drop.

64

: 00:03:48

Yeah.

65

: 00:03:48

that level of person might be somebody

who might benefit from today's show, but

66

: 00:03:54

what would be your recommendation there?

67

: 00:03:55

Just keep doing it if you're not doing it.

68

: 00:03:58

This is where so many businesses

in that middle ground, they

69

: 00:04:01

don't really know what to do.

70

: 00:04:03

Aside from, oh, I'm gonna increase,

I'm gonna double the budget and

71

: 00:04:06

hopefully I get double the emails,

or I'm gonna cut it off completely

72

: 00:04:09

and see if my business suffers.

73

: 00:04:10

neither way is really scientific,

but it is a way to show, yeah.

74

: 00:04:14

Obviously we created North beam to help

with that problem, but I would discourage

75

: 00:04:20

folks from paying for North beam or

any other software tool without really

76

: 00:04:25

learning on your own, like starting to

have a baseline understanding of what's

77

: 00:04:29

going on to the best of your ability.

78

: 00:04:32

And if you are going to invest heavily

in growth, and that's where I think

79

: 00:04:37

I know Ralph, you and I were talking

offline around when do I need something

80

: 00:04:41

like a beam or another provider it's

when you're really aggressively scaling

81

: 00:04:45

and, or you're just really confused

about your efficiency, but I know

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: 00:04:49

plenty of brands that are growing and

they don't need North mean they're

83

: 00:04:53

doing fine, they're small, whatever.

84

: 00:04:56

Generally folks that

are still fine tuning.

85

: 00:04:58

We're, I think you need software tools

when you're aggressively scaling, making

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: 00:05:03

some big decisions where the risk of

not being scientific very scientific.

87

: 00:05:09

Is high, but I encourage folks to do

what we just talked about, which is

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: 00:05:13

try to figure it out on your own first.

89

: 00:05:15

Try and figure it out on your own.

90

: 00:05:16

Yeah.

91

: 00:05:17

That's exactly what we're going

to be talking about here today.

92

: 00:05:19

Like when you actually do need

that tool and a lot of it does

93

: 00:05:23

have to do with spoiler alert.

94

: 00:05:25

It's a business owner mindset of,

Hey, I've got a great business.

95

: 00:05:29

I'm happy where I'm at, or do I

want to get to that next level?

96

: 00:05:33

But I think there's certain gradations.

97

: 00:05:34

There's certain gradients

within that next level.