Latest / Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint / Don't Waste Your Money: Strategic Marketing Spend for New & Old Businesses

Transcript

Don't Waste Your Money: Strategic Marketing Spend for New & Old Businesses · Closing Sales in Nigeria - Sales For The Nigerian Business Person: The Sales and Marketing Blueprint

• 0:00
  Hello and welcome. My name is Tavishima Aide.
• 0:04
  I'm focused on solving sales and marketing challenges through
• 0:07
  business education over here on the podcast.
• 0:10
  And I'm making today's recording at home.
• 0:12
  Everybody's around, it's a holiday, all the kids at home.
• 0:15
  So expect to hear some interruptions in the background.
• 0:18
  Now, if you're impressed with the podcast by the time you're
• 0:20
  done, please spread the word so that your friends and family
• 0:23
  members in Nigeria and abroad can benefit from the questions
• 0:26
  that we tackle. They can do that by subscribing
• 0:30
  on Spotify, YouTube, Apple or any player of their choice.
• 0:34
  And if you in particular would like to connect with me, then
• 0:37
  call SMS or WhatsApp me on 08064662140.
• 0:44
  Now today on the podcast, we're going to look at how to decide
• 0:47
  how much money to spend on marketing.
• 0:51
  Again, the question we're going to look at is how do we decide
• 0:55
  how much money to spend on marketing for our businesses?
• 0:59
  Now, the reason why is because I've gotten a listener question
• 1:03
  and was a comment from Eden on Spotify.
• 1:07
  Oh, by the way, Eden, I'm wondering, is your name short
• 1:09
  for Eden? You know, in that case, is your
• 1:12
  name Eden or is it Eden? You know, I'm not sure what the
• 1:15
  short form is, but you know how you know, in Nigeria, we can
• 1:18
  shorten our names? Like, you know, my full name is
• 1:21
  Tavi Shima, but lots of people in primary school just used to
• 1:23
  call me Tavi. And you know, some people call
• 1:26
  me Tav and then some people just say T, you know, so we keep
• 1:29
  making it short and short. And then Eden, thank you very
• 1:32
  much for listening to the podcast and thank you very much
• 1:36
  for the question. Well, please, Eden, next time or
• 1:40
  anyone who has questions, it would be easier if you send me
• 1:46
  messages in WhatsApp and then we can chat that way and I can see
• 1:49
  your questions because Spotify has this problem.
• 1:53
  Whenever you guys comment on Spotify, it doesn't arrange
• 1:57
  things in the what's that word? It doesn't use recency.
• 2:03
  Yeah, it doesn't use recency. So it's not the most recent
• 2:05
  comment. It's not the latest comment,
• 2:07
  which shows at the top. Now, if that were the case, I'll
• 2:10
  just open my Spotify and I would see that.
• 2:12
  Oh, OK, These last 10 comments, people that I've not seen before
• 2:16
  and I'd respond, but somehow Spotify has chosen to arrange
• 2:20
  all these things according to themes.
• 2:23
  So if the podcast episode is recent, then the comment will
• 2:27
  show up. If the podcast episode was old,
• 2:30
  like let's say you made a comment on the podcast episode
• 2:32
  that I recorded maybe three years ago.
• 2:34
  Your comment is going to be buried down, down, down, down,
• 2:36
  down. So I have to be scrolling to
• 2:38
  find it. And because of this, to be
• 2:40
  honest, I'm sure that they're a bunch of you that I've missed
• 2:44
  out on your comments or your questions.
• 2:46
  You know, it's not as if I don't rate you.
• 2:47
  It's just that, you know, these tech giants, sometimes they give
• 2:51
  people unnecessary work. So to get to your comments or
• 2:54
  questions, I have to be scrolling, scrolling.
• 2:56
  So thank you very much for the comments.
• 2:58
  I really appreciate it. But if you really have a
• 3:00
  question and you want an answer to it, that's the reason why I
• 3:02
  give my phone number at the beginning of the episode and at
• 3:05
  the at the end so they can reach out.
• 3:08
  And I guess your questions answered.
• 3:12
  So like I said, the reason why we're looking at this question
• 3:14
  today is because it's a listener question from Eden or a demo.
• 3:17
  I want to be sure. And then this is the response
• 3:20
  that I gave her to the question. How do you decide how much money
• 3:24
  to spend on acting? I say acting on marketing for
• 3:28
  your business. So the exact words that I used
• 3:31
  on the Spotify review was this. So let me read.
• 3:35
  I'm reading from Spotify now. So this is what I responded to
• 3:38
  her. Unfortunately, there are no
• 3:41
  reliable rules for this. There's a very old marketing
• 3:45
  rule that corporations should be spent, should be setting aside
• 3:48
  15% of their income for marketing and advertising every
• 3:51
  year. But no one knows where and why
• 3:55
  that principle came from. For modern and online marketing,
• 3:59
  the idea is to put small money behind AB testing to see which
• 4:03
  advertising or marketing campaign works well.
• 4:06
  After that, then you put big money behind it.
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  There's also some ideas about using organic content to
• 4:13
  determine your marketing. So that's what I put there.
• 4:17
  And of course, you know how to keep it like that because, you
• 4:21
  know, on the comment box, you know, there's a word count.
• 4:23
  So I can't exceed the word count.
• 4:25
  So I put it and I sent it. But as I sent it, now I just
• 4:29
  looked, I was like, you know what?
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  Depending on who is reading this thing, depending on their
• 4:34
  context, depending on their level of sophistication when it
• 4:37
  comes to marketing and stuff like that, they might either get
• 4:40
  what I'm trying to say or they might just miss the plot.
• 4:42
  So I forgot, let me ask about Make this episode.
• 4:45
  Eden has been making lots of comments, so the chances are
• 4:50
  that she's going to see this podcast anyway, so she'll get
• 4:53
  the answer. So now what we're going to do is
• 4:54
  we're going to break it down. That paragraph that I put up
• 4:57
  there, that sounded very long and technical.
• 5:00
  Let me break it down. So I started off by saying that
• 5:05
  really when it comes to deciding how much money are you going to
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  spend on your advertising, on your marketing, on your business
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  promotions, there is no reliable rule.
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  Because you can go to some disciplines like medicine, for
• 5:19
  instance, like antibiotics, they will say give so, so, so
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  milligram power, so, so, so KG. So someone like me who's 130
• 5:27
  kilos, they'll give me X amount for my kids who are like 50K,
• 5:31
  you know, 30K, you know, a certain amount for my wife who
• 5:35
  is, there's no way I'm going to say how heavy she is or else
• 5:38
  she's going to stab me in the neck.
• 5:40
  You know, she will receive a certain dose.
• 5:42
  So there's some disciplines where, you know, it's like that.
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  And the same thing in construction.
• 5:46
  If you want to build double Decker and the double Decker
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  building is going to have 55 bedrooms for every single square
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  inch of so, so and so use this amount of cement, this amount of
• 5:56
  sharps and this amount of whatever.
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  Now, fortunately for sales and marketing advertising, we don't
• 6:02
  have any reliable rules here for this particular one.
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  So the honest truth is how much you spend, you decide to spend
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  on marketing advertising, it depends on a whole bunch of
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  stuff. It's very contextual.
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  So it depends on who are you, It depends on what are you trying
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  to build, what are you trying to achieve, and also depends on how
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  much you know available you have to spend.
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  Because sometimes, you know, you might look at the whole
• 6:28
  situation and you assess it and you think man, you need like one
• 6:32
  M to do this thing. But to be honest, if you don't
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  have one M, what you have is, you know, 560 K, then I don't
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  know how for do you know, it's a prudential decision.
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  You will discuss with your marketing people and you guys
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  decide that well, what we need IS1M, but what I have is 560 K,
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  you know, do we go or do we wait until I balance the remaining
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  400K? So it is contextual.
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  There is no reliable rule. However, there are a bunch of
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  things that we should take note of, especially online marketing
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  expenses, especially online, well, offline as well.
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  Your marketing expense can either be brand or direct
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  response. Now you can look at things in a
• 7:19
  much more sophisticated way, but for now, let's keep it simple,
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  you know, Because like I say, if it's simple, it'll be easy to
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  remember. Easy to remember, easy to
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  understand means easy to do. So everything you'll be putting
• 7:33
  out will be either brand or direct response.
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  Now this is what brand means. Brand means when you're doing
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  stuff for the visibility. Let people see me for the
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  mindshare. Let them Remember Me for the
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  awareness. Let them know who I am.
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  Let them not forgive me. That is what branding is.
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  You're not asking anybody for anything.
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  You just want to be shy. You want to be visible.
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  Let them see me. Let them Remember Me.
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  Let them know me. Let them feel me.
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  Let them be aware of me. Let them not forget me.
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  Let them know I'm here. All that is brand.
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  So marketing expenses can be grouped into brand.
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  So that's when you see Nike. Nike just do it.
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  They didn't say come and buy shoe.
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  They just say just do it. They put it on the Billboard or
• 8:26
  they advertise on the TV. Nike just do it.
• 8:29
  They didn't say come and buy anything.
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  That is branding. Let me be visible, let people
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  feel me, let them be aware of me.
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  Let them not forget me, let them know I'm here.
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  That is branding. Then marketing expenses can also
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  be direct response. Now, direct response means I
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  want somebody to take a specific action.
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  I want somebody to do a very specific something that is going
• 8:54
  to move my agenda forward. That is going to help me to get
• 8:58
  to the promised land. That is going to help me to get
• 9:01
  money for school fees. That will help me to get money
• 9:04
  to buy my bra boss. That will help me to, you know,
• 9:08
  get money so I can fly my family abroad for, for holidays this
• 9:14
  Christmas. That is direct response
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  marketing. I want somebody to do something
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  very specific and by the time the person does nothing, it will
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  either put money in my pocket or it will get them to take one
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  step closer to putting money in my pocket.
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  That is direct response. So all these people who
• 9:33
  advertise on Instagram, end of July sales 20% off.
• 9:39
  Click on link below. That one is direct response
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  because they want me to do something to click on the link
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  and send them money. That is direct response.
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  So direct response is usually click on this link, leave your
• 9:57
  contact details or click on this link to buy something or come to
• 10:05
  this venue. Buy something or come here, call
• 10:09
  this number, send this SMS, click on this link to qualify
• 10:13
  for a prize. Click here to give feedback,
• 10:18
  Call this number for feedback. Call 080.
• 10:21
  Something, something, something for enquiries, Click to take
• 10:24
  advantage of discount. Click here to subscribe for
• 10:28
  Dirty design. You know, you get my point.
• 10:30
  Direct response wants you to do something so it's overtly
• 10:35
  simplified, Yes. And so marketing people who
• 10:38
  complain, yes, but I'm remember. I'm trying to keep things simple
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  because easy to remember means easy to do.
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  So all your marketing or your advertising or whatever will
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  either be brand or be direct response.
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  You're either dropping money so that people will see me, let
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  them feel me. Let them not forget me.
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  Let them know I'm here. Let them know who I am.
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  That's brand. But you're not asking for
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  anything. Then there's direct response.
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  You're asking for something concrete.
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  Give me your e-mail address. Click on this to get 2525% off.
• 11:12
  Go here to enter for this prize. Click here to give me feedback.
• 11:16
  Call in if you have enquiries. So those are the two classes of
• 11:23
  marketing that business people can do.
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  Now, one thing to bear in mind, remember this question is how
• 11:30
  much money should I spend? And I've told you that, well,
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  there is no reliable rule and there's no desire that will come
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  and tell you how much you should spend.
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  But before we even get to how much we spend this, this is one
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  thing we need to consider. If you are a new business and
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  listen carefully because it's a mistake that I made and it's a
• 11:50
  mistake that everybody made that you're a brand new business and
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  you're thinking brand, brand, brand.
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  And then you now be everything you'll be doing be brand, brand,
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  brand. So listen carefully you new
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  business people that are shouting brand up and down, when
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  you are a new business, what you need to be doing is more of
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  direct response so that you can either get more customers or get
• 12:16
  online engagement that will help your customer base to grow in
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  the future. Let me repeat, as a new business
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  owner, especially those of us in SME space, in the beginning we
• 12:30
  are strapped for cash, as in we need cash, we need customers.
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  You told your wife this is a good business idea.
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  She said, my love, I support you, you can resign your job.
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  She even now added 800K of family savings to the 2 million
• 12:47
  that you have so you can start this business.
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  That is not the time to be doing brand, brand, brand.
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  That is the time for direct response because you need cash
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  now. You need customers now.
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  Any marketing that you're doing and that you're putting money
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  behind should be direct response because you need customers now,
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  you need cash now, or you need the kind of engagement online
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  that will lead to customers or cash in the near future.
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  Do not be putting your money on brand, brand, brand.
• 13:24
  That is for those of you who are new businesses now for those of
• 13:28
  you who are old an established or mature businesses, you can do
• 13:33
  more brand based marketing. For instance, Nike, any small
• 13:37
  thing you see the Billboard, Nike just do it.
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  They didn't ask for anything. Do what?
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  No, nothing, just do it. Just see me.
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  Just know me, that's what they're doing.
• 13:48
  Or Mercedes-Benz on the Billboard or online.
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  You just see the car just driving by the edge of the
• 13:53
  Cliff, you think will now go and park somewhere, Mercedes-Benz
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  E350 something, blah, blah, blah, blah, blah.
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  You know Mercedes-Benz, you know, drive your throws away or
• 14:02
  drive your life or whatever. When you say come and buy Benz,
• 14:07
  they just put it like that. Now, the reason we're old,
• 14:11
  excuse me, old established businesses, mature businesses
• 14:14
  can do it is because it's a different game.
• 14:19
  Excuse me. What they're trying to do is
• 14:20
  they're trying to maintain top of mind awareness than trying to
• 14:25
  not cede market share. They're in a mature industry.
• 14:30
  So there's Mercedes-Benz, there's BMW, there's what again,
• 14:35
  there's Range Rover, you know them plenty.
• 14:38
  So they just want to be putting this campaign out so that you
• 14:42
  know, everywhere you go, just be seeing it, Benz, Benz, Benz.
• 14:45
  So one day when you arrive like me, when I become a big boy,
• 14:50
  when I have some serious chat in my pocket, I can say, you know
• 14:52
  what, let me try these Benz E350.
• 14:56
  That's because of branding campaigns that have been seen
• 14:59
  over the last two years, three years, five years, 1010 years.
• 15:03
  In fact, I heard one person say that the reason why
• 15:06
  Mercedes-Benz is making branding campaigns now is because they
• 15:11
  know that in 30 years time, a young man will say I've arrived,
• 15:15
  let me buy Benz. You see that time frame,
• 15:18
  Mercedes-Benz is not dropping money today so that somebody
• 15:21
  will buy a car tomorrow. They're dropping money today on
• 15:24
  all these branding things because they hope that in 30
• 15:28
  years, 40 years, a young man will say, you know what, I've
• 15:31
  arrived. Let me spoil myself a little.
• 15:33
  Let me give myself AG Wagon. And you guys should be praying
• 15:38
  for me so that when you meet me in the flesh, you will see me
• 15:40
  cruising on AG Wagon. OK.
• 15:44
  No, G Wagon will drop too much fuel, let's say S Class.
• 15:48
  Yeah, Yeah. So you should be praying for me.
• 15:50
  So now you meet me in the flesh. You see me on S Class.
• 15:53
  So established businesses, mature businesses, they can be
• 15:56
  doing brand, brand, brand, brand, brand from today to
• 15:59
  tomorrow. Is is different than mature
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  business. The game that they're trying to
• 16:02
  play is market awareness. So a mind awareness and market
• 16:09
  share. The time frames that these boys
• 16:12
  and girls, the big businesses are playing is a long term game.
• 16:16
  They're thinking one to three years if he's short three to
• 16:19
  five, on average, 5 and beyond for most of them.
• 16:23
  So don't follow them. I'll be playing those games.
• 16:25
  And also the mistakes that I made when I was new in the game.
• 16:27
  I came in as wedding photographer.
• 16:28
  I was thinking brand, brand, brand, the wedding photographer
• 16:34
  who is already established, who has been doing the game for 10
• 16:38
  years. Because you know, back then,
• 16:40
  some of you know, some of us just coming back from abroad,
• 16:42
  you know, there's some people who have been doing it abroad
• 16:45
  for like 10 years. You really have some kind of
• 16:47
  reputation. And you know how we look at
• 16:49
  these people in Niger, they come back, You'd be looking at them
• 16:51
  on one. Can I they can be playing brand,
• 16:53
  brand, brand. The situation is different.
• 16:55
  You coming in new to the game, your own is, is direct response.
• 16:59
  It is cash, cash, cash, customer, customer, customer,
• 17:03
  not brand, brand. Eventually we'll get to the
• 17:09
  stage of the big, big companies and then we can be doing brand,
• 17:11
  brand, brand. But in the beginning is Cash,
• 17:13
  Cash, cash, customer, customer, customer first.
• 17:18
  But of course, you know, branding is good.
• 17:22
  So if you're a new business and you don't have luxury of these
• 17:27
  timeframes, what you need now is money.
• 17:29
  What you need is customers. So whatever money you spend that
• 17:32
  you put behind your marketing direct response, that's more
• 17:35
  like it. So this rule now that people say
• 17:38
  15% of your income should be spent on advertising.
• 17:41
  This rule is decades old right from when Mumsy was in
• 17:45
  university because Mumsy's advanced degree was in, she has
• 17:49
  an MBA. So I have asked degree was in
• 17:52
  his MBA say communication based MBA is a public relations, I
• 17:56
  think. So that's our own MBA.
• 17:59
  So that's what they were teaching Mumsy them in school
• 18:01
  then 40 years ago and some people still say it today.
• 18:06
  But if he has them 50%, why? I don't know where, I don't know
• 18:12
  who said it, I don't know. It's just the rule.
• 18:14
  So this 15%, now that is what applies to Coca-Cola, to Nike,
• 18:20
  to Mercedes-Benz or come down to Nigeria, to Cadbury, you know,
• 18:24
  people that make Choco, Milo, Bon Vita or whatnot, that is
• 18:27
  rule that applies to them. So if they make 15 billion, I'll
• 18:31
  be or 15% is what? If you make 100 billion this
• 18:35
  year, they're supposed to just put aside 15 I'll be.
• 18:39
  How do you say it again? OK, they make 15,000,000 they're
• 18:41
  supposed to put aside. Let me not show my ignorance,
• 18:47
  OK? Yes, if they make 100 million
• 18:49
  this year, they're supposed to put aside 15,000,000 to budget
• 18:52
  for their marketing. So that rule applies to them,
• 18:56
  not you. Traditionally it applies to
• 18:59
  them, not you. That's also one of the reasons
• 19:01
  why I'm making this podcast, because lots of people who are
• 19:03
  in the business space, they're always talking about principles,
• 19:06
  context, frameworks and things always apply to big, big boys.
• 19:09
  But not everybody is Facebook, not everybody's Nike, not
• 19:13
  everybody's Mercedes-Benz. So taking principles and rules
• 19:17
  and things that apply for established businesses, you now
• 19:20
  want to apply to young, young open comers.
• 19:23
  It's not a good idea. And that's the reason why some
• 19:25
  of us crashed, because you come in and you're thinking brand,
• 19:29
  brand, brand as a new, as a newcomer.
• 19:32
  Meanwhile you're pressed for cash instead of thinking of
• 19:34
  cash, cash, cash, customer, customer, customer.
• 19:40
  So it applies to Nestle, Cadbury, Milo, all these fast
• 19:45
  moving consumer goods, people that make Indo Mie, people that
• 19:48
  make soap. You know, we're getting Dangote
• 19:52
  peaceful that sells cement. Yeah, just set aside 15% and
• 19:55
  every year just be advertising. So that's why you put on CNN and
• 19:59
  you see Dangote. That's why I don't go to
• 20:02
  advertisers on CNN. Let him see me.
• 20:05
  Let him feel me. Let him not forget me.
• 20:07
  Let him know I'm here. He's not advertising.
• 20:10
  Buy my fuel, buy my spaghetti, buy my sugar.
• 20:15
  It's a mind share play. People abroad watching CNN,
• 20:19
  people in Nigeria watching CNN, people of a certain class, they
• 20:23
  should be seen every day when they turn on CNN.
• 20:25
  Dan, go to. That's the play.
• 20:30
  So even if you have all the money in the world, you're
• 20:33
  starting Business Today, your public can afford to put you on
• 20:35
  CNN. It might not necessarily be the
• 20:37
  smartest move to just go ahead and buy for that, buy that CNN
• 20:41
  spot even though you guys have have money then now 15%,
• 20:46
  honestly, lots of people have said, and I agree, it just seems
• 20:49
  arbitrary because sometimes you want to spend more than 15%,
• 20:53
  sometimes more. You might have to spend less
• 20:55
  depending on what your business goals are or what the target you
• 20:58
  have for the year. So 1 moment, OK, just write a
• 21:03
  notification on my phone. I wanted to be sure there was
• 21:05
  nothing that was time pressing. So now more modern ideas around
• 21:11
  marketing or guerrilla ideas around marketing.
• 21:13
  I was to say these days is AB testing.
• 21:15
  That is what I refer to over there.
• 21:17
  That has a much more modern thing to do.
• 21:19
  Now AB testing is supposed to answer this question.
• 21:23
  Can I put big money behind this thing?
• 21:28
  AB testing is supposed to de risk the situation.
• 21:33
  So what AB testing just means is you have two versions, version
• 21:38
  A, version B. You want to advertise, you want
• 21:40
  to do marketing, you want to do whatever, you want to do it
• 21:43
  online. Come up with two different
• 21:45
  ideas. You design one picture, you
• 21:48
  design one copy, you design one call to action, you make two
• 21:50
  different advertisements. Then you now run them on
• 21:54
  Instagram or Facebook. What you do, you just put small
• 21:56
  money behind it. Small money depends on you.
• 22:00
  Maybe you put 5K behind the campaign, maybe you put 10K to
• 22:03
  boost it, or maybe you put 15K to promote the something and
• 22:06
  then just wait and see. One is option A1 is option B.
• 22:10
  You give yourself a time frame, one month, one week, two weeks.
• 22:14
  You know, it depends. You now notice how are these
• 22:17
  things performing, which one is working well, which one is not
• 22:20
  working well. So if you do A&B, you run it
• 22:23
  like that and it looks like A is useless.
• 22:26
  Nobody is buying, nobody is engaging you.
• 22:28
  Now take B and that's OK, Good. B is our winner.
• 22:32
  Some people take it a step further.
• 22:34
  They say, OK, you know what? Maybe if we change the picture
• 22:37
  in B, it can even work better. Or maybe if we change the words
• 22:40
  that we use, it can even work better.
• 22:42
  That is the process of refining it.
• 22:44
  And then that is how you even now have two versions of B1.
• 22:48
  Version will be the original option B that run and the other
• 22:51
  one will now be option you know B1 or B2.
• 22:55
  You run it. You now see again which one
• 22:57
  performs well. If it is option B2 that performs
• 23:01
  well, that's it. You can now take that option B2
• 23:04
  and say good, now let us spend 200K and promote this thing.
• 23:10
  Boost this thing or let's now spend 500K and promote this
• 23:14
  thing. The goal here is that you only
• 23:17
  want to spend big money on the advertisements or on the
• 23:21
  marketing campaigns or on the whatever the promotions that
• 23:24
  have the highest engagement or the highest conversions.
• 23:30
  Engagement just means people are interacting with this thing in a
• 23:33
  way that means they might become customers tomorrow.
• 23:37
  And then conversion just means somebody actually took the next
• 23:41
  step. So that is 1 modern idea AB
• 23:44
  testing. So even though we don't know how
• 23:47
  much we're supposed to go behind the campaign, we know one thing
• 23:49
  for sure. At least online we can test and
• 23:53
  see you know which one is working.
• 23:56
  When we now know and we have budgeted 1.2.
• 24:00
  We can also why you spend the 1.2 on this one?
• 24:03
  I'm not saying that's what you should do by the way, but that's
• 24:05
  just one modern idea. Then there's also another modern
• 24:10
  idea behind marketing, which is that your your marketing should
• 24:14
  be organic LED. When I say organic, my wife will
• 24:20
  say who is organic? Yeah, I know we have very
• 24:23
  dressed as of you in my household.
• 24:25
  So organic, not organic. So your marketing idea should be
• 24:30
  organic. In other words, that means look
• 24:33
  at your Instagram, look at your website, listen to your podcast,
• 24:36
  look at your whatever and then see the content that you have.
• 24:41
  See the ones that customers or the audiences are naturally
• 24:45
  interacting with. Those ones that people are
• 24:50
  naturally interacting with. That is the one that when you're
• 24:52
  ready to now do marketing to make marketing around those
• 24:55
  ideas. So if you put up there are 20
• 25:00
  things on your website and 80% of the people who come to one
• 25:02
  particular article, you now know that OK, for best results, if
• 25:06
  I'm making a marketing campaign or some advertising thing, I
• 25:08
  should make it like this thing that people are interacting with
• 25:11
  because you have some evidence to show that based on how people
• 25:15
  have been interacting with it, you know, they might like these
• 25:18
  kind of things. So for me, for example, the most
• 25:22
  popular content that I have on Spotify, it changes because on
• 25:25
  YouTube some kind of content is popular.
• 25:28
  I'm not, I can't check the other platforms because you know, I'm
• 25:32
  not a data guy like that. So to be honest, I don't even
• 25:34
  know how to check on other platforms.
• 25:37
  So on YouTube, some kind of comments, some kind of content
• 25:42
  perform well. But then on Spotify, what I have
• 25:45
  here that is most popular, especially with people who are
• 25:49
  only youngish and you know, 18 to 30 something is content
• 25:53
  around networking and personal influence.
• 25:57
  So when I now have like 800 K that I want to spend behind
• 26:02
  promoting the podcast or behind promoting a particular business
• 26:05
  offer and I want to attract Nigerians you know 18 to 35 and
• 26:09
  I want to run some marketing campaigns or whatever.
• 26:12
  I will now advertise based on or create content or create
• 26:17
  whatever or offers based on these ideas that have been seen.
• 26:25
  If people that I want to attract seem to be vibing around
• 26:29
  networking and personal influence and I want to create
• 26:31
  an online course, then I should be creating an online course
• 26:34
  around networking and personal influence because it looks as if
• 26:39
  my audience, that is what they are feeling.
• 26:44
  But remember, you know, the more data you have, the better.
• 26:46
  You know, you can break things down on Spotify, it's mostly 18
• 26:50
  to 30 something. Spotify is a very young
• 26:53
  platform, surprisingly because it's an old company.
• 26:55
  So I'm surprised, but they really, they've really cracked
• 26:58
  the code in Niger among Niger youth.
• 27:00
  They've they've, they've done well.
• 27:01
  They've done very well. So where was I anyway?
• 27:09
  So that is how organic content can lead or inform your
• 27:15
  marketing. So anyway, so that's it.
• 27:23
  But the idea behind these modern ways, which is AB testing or
• 27:28
  organic LED, is you're trying to let the masses, you're trying to
• 27:34
  let the people show you what they're really interested in,
• 27:38
  show you, give you a hint about what would draw them into a
• 27:41
  conversation with you. And then you take your chances
• 27:45
  on that. So these are the ways that we
• 27:47
  can de risk the amount of money that we're putting in marketing.
• 27:51
  So it's not just how much money do I spend so that I'm not
• 27:54
  spending too much. It's also for the budget that I
• 27:58
  have, whether I came up with this arbitrary 15% of my income
• 28:03
  or whether my marketing specialist, my marketing
• 28:06
  consultant told me or whether I sat down with my wife.
• 28:08
  And then two of us decided to rub mines together and come up
• 28:11
  with, with a number with an idea.
• 28:14
  We just want to make sure that we we don't waste money.
• 28:18
  So these are ways that we kind of do risk the whole thing.
• 28:21
  So anyway, like I said, Eden or Eden, I'm just guessing that is
• 28:26
  a demo because you know how many Nigerians name their children
• 28:29
  Eden? So I'm assuming it's a demo.
• 28:31
  So, Eden, if you have more questions like this, then please
• 28:35
  don't leave them in the comments section or because I might miss
• 28:37
  it on Spotify or please, those of you who are living leaving
• 28:40
  comments on Spotify, thank you very much.
• 28:44
  These are the reasons why my podcast is getting really
• 28:46
  popular on Spotify because you guys just keep commenting saying
• 28:49
  that there's a wonderful podcast.
• 28:50
  Where have you been? You know, practical advice.
• 28:53
  This, this is not that, you know, I love this part of my
• 28:55
  daily routine. These are the things that are
• 28:58
  making me my part has really blow up on Spotify and so far I
• 29:02
  have close to 2900 subscribers on Spotify.
• 29:05
  And I want to say thank you to every single one of you that
• 29:09
  have done the like thing that have shared and have commented.
• 29:13
  Thank you very much for the support.
• 29:15
  I do not take you guys for granted.
• 29:18
  So yeah, you know what, maybe you can leave your question
• 29:21
  there. But also I give my phone number
• 29:23
  at the beginning at the end of every show.
• 29:25
  So send it to me over here as well so I can respond to you
• 29:28
  direct. And then if it's a nice quality
• 29:31
  question, so far, I haven't received any foolish questions.
• 29:34
  It's even nice quality question. I'll come share it over here as
• 29:37
  well so that people can benefit, like I say from the questions
• 29:41
  that we tackle. So that's it.
• 29:46
  Call, SMS or WhatsApp for the best chance.
• 29:49
  So if you'd love to connect, please call SMS or WhatsApp me
• 29:53
  on 08064662140. Thank you very much for your
• 29:58
  time and attention. I'll catch you next time.
• 30:01
  Same place in your headphones or in your speakers.
• 30:04
  And before I go homework to you guys while listening to this now
• 30:08
  this podcast that I'm making you guys reason it, is it Brandon
• 30:13
  I'm doing or is it direct response?
• 30:16
  Let me know what you think.