Welcome to another edition of This Week in Podcasts! Every week, we're bringing you the most interesting podcasts we've found so that you can better your business. This week, we're all about selling more - from perfecting your pitch to launching new products and businesses to using influencer marketing.
If you have a favorite podcast you'd love to see in the roundup, leave a comment or hit me up on Twitter at @_chelleshock and I'll add it to the list. Here's your takeaways for the week:
The Accidental Creative (Michael Port on how to steal the show)
To listen to the episode, head here.
You might know Michael Port from his bestseller Book Yourself Solid. He's just released another book called Steal the Show, which covers communicating more effectively and compellingly everywhere from the stage to interviews to sales pitches.
Notes & Takeaways:
Michael uses Aristotle's three-act structure to do tell better stories in a professional context, which could help you portray your next launch or newest product in a clearer, more compelling way:
- Act one is the exposition, the background and settings - you don't want to spend too long on this, but if you jump straight to act two, your audience won't know what's going on or why they care.
- Act two is the conflict, some kind of inciting incident that causes action (most of the rest of act two is a conflict-action cycle). Act two takes up about 85% of the story. In a business story, this could be the moment when you (or your customer) realizes that something is broken with the current industry/product, and sets out to find a better solution.
- Act three is the resolution, the happy ending where everything is tied up in a bow.
Another tip is that rather than trying to come up with something new every time, it's a good idea to come up with a "library" of stories for your business (or yourself as a professional) that you can refer back to when you need to create a presentation (or write new copy for your site/a product, put together a sales deck, etc.)
- Michael did another podcast interview with Social Media Examiner, which has detailed notes here.
- For more story tips, you can't go wrong with Pixar's 22 rules.
- Brand Storytelling: 10 Steps to Start Your Content Marketing Hero’s Journey (another structure to play around with)
Hatching Episodes #15 & #16
These two go together because, among other things, they talk about two different launches (the Peel relaunch and the Minimums launch). The episodes are a little older but the launching insights are interesting regardless!
Notes & Takeaways:
- An experiment worth trying: to coincide with the Peel relaunch, they dropped international shipping from $11 down to $5, as they noticed that they had high rates of cart abandonment for international buyers. This caused a noticeable uptick in their order completion rate for international buyers - they lost around $500-600 in shipping fees, but gained about $1200 in orders, so it was definitely a net positive experience.
- Make sure you're considering variables (holiday season, how many emails you've sent lately, etc.) when you're trying to get a baseline for conversion rates to make sure your numbers are accurate.
- One of the Facebook ad tricks they did that worked well was targeting the audiences of publications that had featured them/their products (or sister publications) and quoting the publication in the ad tagline. Smaller audience, but got good results.
- Big exposure doesn't necessarily translate to big sales - the emoji masks were featured in a Snapchat story for Coachella, which had around 44 million views and converted to around 100 sales.
- Struggling with managing multiple Instagram accounts? If it's a real pain point, you can do what they did - buy separate iPod Touches for each Instagram account. No more logging in and out and mixing up personal and business accounts in the process.
- When you're buying domain names, always negotiate. But in the long run, a domain name might not matter as much as you think it will, so don't spend too much money on it at the get-go.
- For more on how to improve your cart abandonment metrics, try this article: How to Reduce Shopping Cart Abandonment by Optimizing the Checkout
- They broke down their emoji masks launch here: How Our Side Project Generated $51,365 in 60 Days
- For more on the statistical factors that go into accurate conversion rate optimization, make sure to read Tommy's recent post on the subject.
- How to Choose a Shipping Strategy for Your Online Store
Ecommerce Influence, Episode #92 (Generating $80k Per Month Within 9 Months Using YouTube Influencer Marketing)
Get their show notes & transcript here.
Emmanuel Eleyae did a different spin on video marketing and it's worked out quite well for him (given that he's generating $80k in sales a month within nine months of launching!). This episode digs into how he got started and what's worked for him.
Notes & Takeaways:
- Influencer marketing is when you're reaching out to people who have influence with your customers. Instead of trying to reach your customers directly, you're getting your products in the hands of influencers who then (hopefully!) talk about it to their audiences, generating word of mouth and sales.
- Out of their first batch of 27 emails sent to influencers, only three got back to them & one agreed to move forward...so be persistent, especially in the beginning. (It definitely paid off, as they sold out as a result of the video review!)
- Some of the resources they used: FameBit, The Shelf. They started out with FameBit and scaled up from there, having good luck with the VIP program at The Shelf as their budget grew.
- Once they had some momentum going, they also started reaching out to influencers who weren't on those sites - people with around 1-2 million followers.
- Despite their success with it, they realized that if they didn't put a process in place to retain people, they were losing a percentage of that audience - so they set up a landing page with email sign up forms and a drip email campaign, which helped them get past the sales plateau.
- One of the big benefits of influencer marketing is that you're getting content about/around your product and an audience to go with it (whereas if it was your own content marketing, you'd have to create it and then hunt down an audience to get it in front of).
- Influencer marketing seems to be especially useful with products that need "explaining" (a satin-lined cap that helps you take care of your hair, in this example).
- They get very into the specifics of what Emmanuel did and why it worked, so make sure to read the full transcript or listen to the full audio if you think this will work for your business.
- Emmanuel chronicles his e-commerce journey here at his site, with more breakdowns on what's worked for him and his business.
- How To Create a Memorable and Shareable Unboxing Experience for Your Brand
- Referral Marketing 101: 7 Tactics to Launch Your Own Referral Campaign
That's it for this week! As always, if you have commentary on this week's roundup or suggestions on what to include next time, hit me up on Twitter or leave a comment here. Have a great weekend!