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Principles of Online Marketing: David Perell

David Perell - Principles of Online Marketing

Principles of online marketing: David Perell

If you've ever wanted to build an online business, this thread is for you.

Here are the principles of online marketing:

— David Perell (@david_perell) February 23, 2022

If you’ve ever wanted to build an online business, this thread is for you. 

1. Out-Teach Your Competition: When people learn from you, they promote you. Everybody likes helpful people, so share your best ideas regularly and adopt a service mentality. The more you help others, the more they’ll help you in return.
2. Ride Trends: The Internet is a global conversation. Nearly every social media promotes trending ideas. Aligning yourself with the talk of the day will serve as turbo boost for your creations. One example: Mr. Beast’s video about Squid Games instantly became a viral hit.

3. Build a distribution advantage: Distribution advantages take time to build. But because they require such consistent dedication, they are hard to compete with. One example: Y-Combinator promotes its cohorts on Hacker News, where many of the best software engineers hang out.

4. Trust isn’t for sale: You can buy reach, but you can’t buy trust. Paid advertisements will give you eyeballs, but repeated high-quality interactions are the only way to generate trust. Once you lose somebody’s trust, you can’t buy it back. You have to earn it.

5. Repetition sells: Marketers know that repetition is nearly indistinguishable from truth, and the more people are exposed to an idea, the more likely they are to buy into it. Only once an idea seems obvious and repetitive to you will people finally start to get it.

6. Master one channel: Instead of trying to be active on every platform, pick one platform and master it. Since the Internet is driven by power laws, it’s better to be prominent on one valuable platform than average on a bunch of them. Find what works, then go all-in.

7. Embrace the spreadsheet: Once you start having success, your “marketing formula” will become clear. You’ll be able to quantify the value of each potential customer. Once the formula becomes clear, simplify your marketing strategy and measure your success in a spreadsheet.

8: Ditch the spreadsheet. The best marketing strategies aren’t things you’ll find on a spreadsheet. If they were that simple, everybody would do them. Embrace your creative side. Look for up-and-coming strategies that haven’t hit the mainstream and try them out for yourself.

9. Hire a Chief Evangelist: On social media, people want to follow people — not companies. Companies should hire the top influencers in their space who are aligned with their values, and pay them to create high-quality content. One example: @anafabrega11 and Synthesis.

10. The Paradox of Specificity: In the Internet age, when everybody has Google search and social media, differentiation is free marketing. The more specific your goal, the more opportunities you’ll create. Narrow your focus to expand your horizons.

11. Take people behind the scenes: People flock to stories they resonate with, which is why documentaries have become some of the world’s best marketing assets. Some examples: 1) Food: Chef’s Table 2) Music: The Defiant Ones 3) Sports: Drive to Survive (h/t @patrick_oshag)

12. Grow the market: Everybody knows about the Michelin Star guide. But most people don’t know that it was a marketing ploy to get people to drive more and ultimately, sell tires. That’s why the star system is still broken down by whether a restaurant is worth driving to.

How to use waitlists to build buzz for your startup

How to use waitlists to build buzz for your startup.

How to use waitlists to build buzz

“Give me a product that a few people I know have or use, that doesn’t want me as a customer yet, and I’ll run through a wall to get my hands on it, just show me the way (: !”

– Ali Abouelatta

“My motivation for writing this piece comes from observing my own behavior; my reaction to a waitlist has always been extreme.

I either go crazy to get access to products during their invite-only phase. For instance, I donated $50 x 3 for a chance to “win” a Clubhouse invite, I wrote a handwritten snail mail begging the founder of a certain productivity app to give me access and, of course, did the whole referral thing, getting people to sign up to get earlier access…many many times.

Or, I swear off products completely cause of the mere fact they had a waitlist (I am looking at you, Amie!)

I took the time this week to reflect not just on why that is the case, but more importantly, study the extremely successful, kind-of-successful, and flops of the waitlist world.

My goal is to come out of this research with a better understanding of why I act the way I do, what makes a successful waitlist program and when it makes sense to implement a waitlist?“

Here is part 2

Trends.vc Influencer Marketing Report

Trends.vc Influencer Marketing Report

Trends.vc Influencer Marketing

“Does Influencer Marketing work? How can Creators monetize their audience? Find out and get more insights into successful influencer businesses, right here.”

 Why It Matters

Influencer marketing helps brands build awareness and find customers.


 Problem

Brands need to break through noise.


 Solution

Influencer Marketing transfers trust and attention from influencers to brands.


 Players

Examples

  • Beats by Dre • Musician-promoted headphones.
  • HubSpot Podcast Network • Supports several B2B podcasts.
  • Notion Ambassadors • Supports creators such as Marie Poulin.
  • Brycent • Promotes play and earn games such as Axie Infinity.
  • YG • Featured Ledger in a recent music video.
  • Audible Creator Program • A referral program for influencers.
  • HiSmile • $40 million brand built by working with influencers such as Kylie Jenner.
  • Fenty Beauty • Cosmetics brand by Rhianna.

Helsinki Bus Theory: The Proven Path to Creating Unique and Meaningful Work

James Clear - Helsinki Bus Theory

Helsinki Bus Theory: The Proven Path to Creating Unique and Meaningful Work

James Clear on what it takes to get good at your craft.

“By staying on the bus, you give yourself time to re-work and revise until you produce something unique, inspiring, and great. It’s only by staying on board that mastery reveals itself. Show up enough times to get the average ideas out of the way and every now and then genius will reveal itself.”

“Average college students learn ideas once. The best college students re-learn ideas over and over. Average employees write emails once. Elite novelists re-write chapters again and again. Average fitness enthusiasts mindlessly follow the same workout routine each week. The best athletes actively critique each repetition and constantly improve their technique. It is the revision that matters most.”

Bonus Idea: Creating distinct names for your ideas (e.g. “Helsinki Bus Theory”)is a very powerful way to get them to spread.

The Bizarreness Effect – Make your content stand out

The Bizarreness Effect – Make your content stand out

Another insightful post from Jake McNeill at CreativeHackers.co.

“Bizarreness makes things more memorable. They jump out at us and are easier to recall.

People also gossip about bizarre things. There is social kudos in delivering stories about bizarre and unusual things.

Blackbeard used bizarreness to frighten his enemies but also to create a mythical persona that people gossiped about which increased his effectiveness and success as a Pirate.”

Pratfall Effect in Marketing: Admit Your Flaws to Win Customers

Pratfall Effect in Marketing: Admit Your Flaws to Win Customers

“Everyone wants to be seen as perfect, with a perfect track record, perfect case studies, perfect 5-star customer reviews… Perfect everything.

Everyone’s making shit up because they think it’s the best way to differentiate.”

“How to break away from that nonsense and use the pratfall effect to your competitive advantage. Two words: radical transparency.

Admit your flaws, be transparent, stay on truth.”

Robert Cialdini’s Six Models of Influence

The Six Models of Influence

Great overview of Robert Cialdini’s Influence : The Psychology of Persuasion.

“Do your ideas get traction? Can you persuade others? Are you able to get the resources (time, attention, money, etc) from others?

Or Do you end up giving your time, money, attention without realizing it?

This is the Power of Influence.”

Here are the 6 factors:

• Reciprocity
• Commitment
• Liking
• Social Proof
• Authority
• Scarcity

Here is the link to part 2.

Do you need marketing tracking and automation?

Do you need marketing tracking and automation?

“The biggest reason you don’t need a complex marketing stack?

What drives demand isn’t a bunch of funnels or retargeting campaigns…

What really drives demand is a bunch of customers who actively want what you’re selling.”

“Your aim is to build a product in a category where people are already searching for a solution. If there’s no underlying customer demand, all your subsequent marketing efforts will be wasted.”

From $0 to $27k In 8 Months

From $0 to $27k In 8 Months

“Eight months ago, Easlo didn’t have an audience online or had never generated a dollar online. Fast forward to today, and Easlo built an audience of nearly 18k followers on Twitter, over 25,000 customers on Gumroad, and has made over $25k online.”

Big Idea: Leveraging a growing platform or marketplace like Notion is a very effective way to build your audience. Another good example is Nat Eliason’s Roam course. His viral blog post led to selling more than $300k of his course.

A Marketer’s Guide to the Metaverse – Neil Patel

A Marketer’s Guide to the Metaverse

“Digital marketers have to know the latest trends in tech. One such trend is the metaverse. This guide will help you learn to leverage it.”

How to grow your newsletter with growth marketing

Alex Garcia is interviewed on HypeFury.

His Marketing Examined newsletter has a very distinctive design that really stands out. He added 118k subscribers on Twitter in the last year and a half, mostly through Twitter threads.

He shares how he got clients for his marketing agency, how he beat out hundreds of applicants for a job at The Hustle, how he tests subject lines, how to get followers on social media, and more.

Big Idea: I love his idea of a Notion command center to keep track of what you learn to level up your online skills. This is what I hope IdeaEconomy will become.

Cool Interactive Format: How Blinkist Onboards New Customers

Check out this interactive web format

I love how this site does product walkthrough reviews. This format could be used by many creators.

“This case study shows how Blinkist onboards new users, and how one simple psychology framework could to improve your user onboarding (and retention).”

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