2500 LinkedIn leads on Retention.com, When should you sell?, The end of Google?

Published Apr 1, 2024, 1:00 PM

In episode #2710, we delve into LinkedIn lead generation strategies such as crafting compelling content, consulting with LinkedIn experts, fostering relationships, and showcasing successes. We also discuss Retention.com's distinct approach to capturing leads with software and the challenges of duplicating their sales strategy. The discussion broadens to missed acquisition opportunities and the timing for selling. Lastly, we look ahead at Google and OpenAI's futures, especially their effects on search and affiliate marketing.

 

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TIME-STAMPED SHOW NOTES:

  • (00:00) Today’s topic: 2500 LinkedIn leads on Retention.com, When should you sell?, The end of Google?
  • (01:15) Generating Leads on LinkedIn
  • (07:42) When should you sell?
  • (15:18) Is this the end of Google?
  • (19:26) That’s it for today! Don’t forget to rate, review, and subscribe!

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All right, So this one company got twenty five hundred leads just from LinkedIn. And this is the product I've been talking about quite a bit, Retention dot Com, and so I'm looking at this here. So Adam Robinson, he wrote a post in the past ninety days using LinkedIn, we generated twenty five hundred signups and book three hundred twenty eight meetings with VP and C level marketers for our new person level ID. Inbound led outbound playbook, that's what he's calling it. Okay, so this guy owns Retention dot Com. He's the CEO of Retention dot com. Correct, And I think they're doing like twenty two or twenty four million a year right now run rate. And so the first thing he says is this so again inbound lead outbound playbook. That's interesting because that means he's basically enriching the traffic that's coming into your site. And then he's just reaching out to those people try to generate a conversation. So number one, he says, create the best content full stop. Okay, Well, yeah, so you need killer headlines. Each line has to be so good they want to read the next. Okay, great, he said, it took me a year to crack and it's still a ton of work. And then number two he says, DM me if you're interested in, so basically, if you post on LinkedIn. At the very end of it, says DM me, if you're interested in. So basically, he has LinkedIn consultants that he hires and they're monitoring his inbox, so if he's getting DMS, they're trying to generate a conversation that way. So he says, my LinkedIn consultants also do inbox management because Santos, I'm assuming that's he's co founder, and I get hundreds of inbounds per month depending on what we're trying to accomplish to either set calls or put them on a wait list. We have far more demand that we can handle. Right now, Santos is taking five calls per day and Pete is taking eight. We're using these for discovery and relationship building. There's a couple more steps here.

Three.

Spend way too much time in the comments, So that's trying to form relationships with people, trying to add them. That's how you build your platform, right. Share success Number four, share successes and failures are working in public. He does that pretty well he shares a lot of stories, makes a lot of videos. Number five, get other people posting, so he has other people on his team now posting. So there's like a compounding effect, right, More more people are seeing retention. Number six, connect with your site visitors over linked in an email. This is where he kind of plugs his product. So basically what he does was when someone you know, they identify someone someone looks like ICP fit ideal client profile fit, they'll add them on LinkedIn. They'll send them withoutful email. Next day, twenty four hours later, send a LinkedIn message, and the next day send a second email twenty four hours later.

Final thing is use video. That's what it is.

I'm gonna tell you the honest truth, the truth.

Do you mean yeah, that's true?

True?

Go ahead, we'll work for them.

Won't work for most people, yes, And the reason being is their software. If someone visits your website and they have that email in their database, they tell you that person's email address without them even giving it to you, which I don't even know if it is legal in you know, every country.

I'm assuming there's certain countries where you can't.

Use that software legally, Like we don't use it on our own websites, and they're pretty much getting people to be like, oh wow, how'd you get my email? Oh well, I got your email through the software that we are.

Oh cool.

Either people are going to be creeped out and upset or they're gonna be like.

Oh cool, how do I do that?

Here you go?

Do you want to pay us?

It's like, dude, those coaches going on social media and running ads being like, look how much money I make. I can coach you how to make money like I make from coaching people like you. That's pretty much their sales playbook. There's not really much of a difference.

So what I'll say is, to Neil's point, they have a novel offer and it won't stay novel forever obviously, but once the novelty wears off.

And there'll be legal issues eventually.

There will be legal issues eventually, and so you know, this is a nice time that they're capitalizing on, is what I think, and it's working.

Well for them now.

I do think there's elements from those steps that people can replicate, like, yes, create great content and then engage with people. That type of stuff will go a long way. And then the thing I think the meta thing everyone can take away here is yes, have an amazing offer, and that will get people to continue to want to engage with you.

Right, this is all bark marketing basics. What he's doing. No one else is going to generate the same amount of leads with the same similar amount of effort, even if your content's you know that great because he's capturing leads without people knowing it and letting them know and they're like, Wow, how'd you know this is cool? Either I'm creeped out or yes, I want this from my business because it'll help me grow. The sales pitch that works for him won't work for most people. It's like those people who paid those coaches to get rich.

And I've met.

Some of them, and I've spoken on stage at the same time with a panel on one of them, and the guy I was talking about how well off he is, and I was scratching my head and I was like, how'd you make your money? And I didn't question him too much, but that's a big question, you know, And he's just like, He's like, I make my money by helping other people do well. I was like, okay, I was putting two and two together. I was like, so you made your money by telling people. You'll teach him how to make money like you did by just telling people, you'll help him to make money. And there's not necessarily a specific skill set, and they help with everything, like I'll help you get more fit, I'll help you do better in business. I'm like, what business experience do you have? And this goes back to what I talked about ages ago, and we had an episode about this on podcast.

Yeah, I hate coaches.

Yeah, well those coaches. Yes, people should stay away from those coaches. There's different coaches. Yeah, but then we won't go back to that conversation. We can go back maybe in the future. I want to take a second to tell you about my podcast co host Agency so NP Digital so Neil Patel Digital. What they do is they do a whole host of marketing services and they are global, They're worldwide. They have SMB services as well, they have mid market to enterprise services as well.

They cover the entire gamma. So you could just go to mpdigital.

Dot com to learn more about it. And now back to the episode. By the way, Neil and I have an agency owners group called the Agency Owners Association. All you have to do just go to marketing school Ioslash agency. Once again, it's marketing school the Ioslash Agency to learn more.

And now back to the show.

So Alexander Volodarski, so Derek on Twitter or x so he has this great post over here. Let me just read you a couple of lines.

So Facebook.

Famously, Facebook turned down Yahoo's one billion acquisition offer in two thousand and six, and now it's worth one point two eight trillion. It's probably more than that now for many it does not turn out well. So groupod declined a six billion offer from Google in twenty ten. Since then, its valuation has dropped to six hundred million. MA has declined a twenty five million dollar m and a deal from HubSpot in cash and HubSpot stock. In twenty fourteen. HubSpot had one of the most successful IPOs of any SaaS company.

Path. I don't know if you remember Path. You remember Path?

So?

Okay?

So Path was like the social app where you can only add one hundred and fifty people max.

It was super well designed.

It Yeah, it was actually around the same time I met you, like we started talking. I was using this thing Path because the whole idea is like Dunbar's number. You don't want to go above one hundred fIF The Path rejected one hundred million dollar buyout from Google. It was eventually sold for pennies, if even pennies. I just I'll just zero it out and then finally I'll just say I'll give one more here. Yahoo turned down a forty four point six billion dollar offer from Microsoft in two thousand and eight. It later sold the Verizon for just four point eight billion and twenty seventeen after years of declining AD revenue and strategic missteps. So what I titled here was really the question is when should you sell?

Right?

And then here here I'll give you my take first. My take on this is like, you should sell if this will get your first nut, meaning like it will make you set other than that, if you want to let it ride, you have your nut already.

That's your decision.

When you look at a lot of these acquisition offers, Yahoo almost bought Google as well, right, They tried to. They couldn't work out.

Oh no, no, Google tried to sell. But Yeahoo didn't want to buy it. They didn't want to pay enough they asked for it. It wasn't even that much money. I think back, it was like a million dollars. It was like, like nothing much here, I'll search it up.

You keep going.

Here's my big takeaway with a lot of these acquisition deals. Yes, if the money is enough and you're set and you're happy in life and you're content, take it. You could have had more, But there's always scenarios where you don't have as much and you're grinding out instead of taking something. The other big thing that I think about with a lot of these deals is a lot of entrepreneurs believe their shit doesn't stink. In other words, like their company is the best thing since slize spread. And I'll give you a prime example of everybody's clubhouse member clubhouse.

Yeah, everyone was on it.

You know who wasn't on it? And he hated it?

You did, yes, And I was vocal, but I kept trying to convince Neil, and Neil's like, no, I don't see it.

And then he turned out.

To be right because the whole concept was for me to get value from this platform, I had to be on it. The moment I left, there was no more value. I'm like, this is stupid. And then a lot of people and entrepreneurs would be like I spent four hours a day on clubhouse, so it spent eight hours a day.

Look what I did? Like, what did you do?

I'm like, I focused on making money in my business. I was not on clubhouse for even a minute that day.

Like, oh okay, they're like, but.

You're missing out on these fallows and like who cares. Followers don't necessarily equate to more revenue. But they should have taken the offer. Didn't LinkedIn try to buy them for a nice Uh?

I think there was like an offer for like two billion or something from just Twitter back in the day. There's like it talks about Twitter potentially offering two billion and just when I built their own so yeah.

And then everyone who built their own clubhouse feature and none of them took off.

They shut them all down.

Yeah.

Facebook tried to do one. I think, Uh, Spotify did one as well. Everyone did one. Yeah, it didn't work, but by the way, it was so it says, Uh. The headline here is, remember when Yahoo turned down one million to buy Google. So Google was trying to sell the Yaho for a million dollars. I thought Yahoo also made an offer to buy Google. Yahoo offers billion to buy Google.

Where was it?

Uh?

Yeah.

In two thousand and two, Yeah, who had a chance to buy Goo for a billion dollars but executives drag their feet by the time decided to pursue the offer at Google's price, soor to three billion.

They should have just paid the three billion.

And then fast forward to two thousand and two, Google offered itself to Yahoo once again, this time for five billion.

It was just too much. Yeah, yeah, they.

Should have taken that for sure, And they should have just offered Facebook extra billion dollars and had the investor shred up force they I.

Mean, they probably would have just tanked the deal like they would have tanked the company.

I should say.

Yeah, that's true. The companies, it may not have been the same. If you look at Tumblr. Tumblr was soaring pre Yahoo post Yahoo and then got acquired by WordPress.

Yeah, and dude, no one talks about Tumblr.

Dig was do you know how much Dig was offered for two hundred and something? Yes, so Dig decline a two hundred million dollar offer from Google in twenty eighteen. It struggled that eventually was sold in parts for about five hundred k and twenty two That was a true story. From my understanding, Google looked at DIG and Dig was open to selling, but then they found a lot of it was manual and not automated.

Yeah, and they didn't like that.

So, by the way, I have I have this one over here on the end of Google. So this this tweet is from authman. I should stop saying tweet posts. So ot h M A N.

So here's what he says. Oh, you're gonna you're.

The one that's like Google is not gonna go anywhere. This guy's this guy was a Google engineer, Okay, So like, here's what he says. Jen Ai poses a much deeper pickle for Google than I initially assumed. The last few weeks, Echo completely echoed the time I was at Google in the early two thousands when we were up against Microsoft, except this time Google is on the receiving end, right, So keep in mind everyone, Microsoft us a big to be the big behemoth. Everyone looked at them and they have all these anti trust issues.

And then it did.

Microsoft did slow down and Google became like the young upstart, right, But now it's like, oh crap, So anyway, open I might be the upstart. So here's what I'm not gonna read the whole thing here, but let me give you some more context. Looking back, we beat Microsoft not because we had better tech, but because we were We forced them to play on our terms and at our clock speed quote un quote. Many myself included. We're viewing Google's LLLM problem as one of the catching up with the technology, specifically open ai. It stands to reason that with all its incredible talent, infrastructure, users, and data, Google can and will catch up to open ai and likely be able to build better technology. But I'm realizing that's likely to be wrong. The debacle last week, and even more Google's response we're talking about woke Gemini puts a point on the real and somewhat unsolvable problem Google faces.

Now.

Google isn't going to lose open ai tomorrow. It lost to it over the last ten years. We'll just leave it at that right now. And Marissa Meyer did respond to this one as well.

What does she say?

She's like, I agree with many of the points here, some might disagree with, but you know, mostly right.

I do see open.

Ai taking a portion of Google's lunch. I don't see jen ai taking away search fully. I still believe there's a purpose for search and people will use it. You're not gonna like if you're looking to buy you sneakers, and I know you started leveling up your sneaker game right after you met the Thriller CEO.

Triller, Thriller, Triller, Triller. Did I say it right?

No?

You said thriller. He keep saying thriller. That's Michael Jackson song.

Thriller, Thriller, Trill, say drill, Drill, thriller, Tiller.

Okay, so the Thriller CEO he helped level of your sneaker.

Yeah.

If you're trying to buy some new fresh sneakers, do you see yourself using open ai or chat GPT or do you just see yourself using.

For now Google?

Yes?

Now ten blue links for now.

But here's on the flip side. If you're just doing some quick research, would you rather do a Google search or just putting a query into Chad, GPT or Gemini.

A quick search? You know what, it's actually changed a little bit for me.

Now I do use open ay quite a bit, and I do use Perplexity quite a bit.

So I would have said the same thing. If it's research, like asking questions and stuff, A lot of times I just type it into Chad GPT or you know, Gemini or anything, because you're going to get the answer right then and there instead of going through the blue links.

I do see a use case for both. I do see this affecting SEO.

I do see this not necessarily killing off Google. Will it change Google?

Yes?

Will there still be search, yes? But what will the search be like? I don't know. Will it be ten blue links? There hasn't been ten blue links for a long time. A lot of times as videos and local results and other things integrated, They've been taking away traffic for marketers for a while by integrating other stuff. But what I'm getting at is for a lot of money making keywords, like transactional keywords. I still do see people using Google Search. It's like saying, hey, if you're looking for toothpaste, why would you ever just use Google?

You would just search Amazon.

But yet people still do search Google for toothpaste because you can see tons of different results. You also can search on Amazon. You may search in both places. I don't see a world where there's no Google Search. I don't see a world where open ai controls everything. See mixture of both, in which there's a purpose for open AI and there's a purpose of Google. Google has is going to have to make adjustments. But open ai won't get one hundred percent of the market share or maybe not even the large chunk of market share for search.

So I'm just I'm gonna simplify it for everyone.

Here.

The way I see it is similar.

It's basically I think Google is gonna lose some market share here.

I don't think they're gonna go away.

I mean it's it's still one of the best money printers in the world. It's a great business model for them. I think it's this stuff takes time. Things don't die like They're not like Microsoft never. They slowed down for quite a bit and then now they're back right. And so here's the big thing over here. The real problem, this guy Offmen says, the real problem for Google is one of clock speed.

So it goes back to that keyword clock speed. Google all of.

A sudden has its ass on fire and is trying to innovate into the future. But that innovation now has to happen at the heart of its business. Open ai doesn't care about messing up on an ADS business model. They can just iterate what a products quality purity that is impossible for Google to get. Now, all that to say is like, yes, Google's going to lose some Sure they're not going to die, and search is probably gonna be around for a while.

Yes, And the big money making revenue for them is ads. But it's from these transactional key words. It's not from people googling a specific question like how tall is the Pyramids? You know, like, you know, what's the average height of a paramid in Egypt? That's not where they're making money. And if people start using open ai and things like that for those queries, you know, it's not bad. Does it mean that people won't be using open air for some money making queries? They will, you know, for doing research or picking a consulting firm. You know, sure it'll eat at some Google's market share, But I still believe there's a world like you're saying for both.

Yeah, And I'm want to finish off these last two paragraphs from this guy.

I think that's it's pretty pressure.

I'm going to make a prediction here, so I'm gonna say that in the next ten to twenty years, there could be an argument that if more and more people are using gen AI generative engine optimization for or gen ai for their searches. I believe that we could be moving into a world where it's much easier to do affiliate marketing, and they're just giving these affiliate transactions at a much higher level.

Right, So we'll see what happens.

I don't think it's going to take over like the ad model completely, but I think we're going to see affiliate marketing tick up. I think it's going to become more popular over time. So here the last two paragraphs, and then we can we can move on from this.

So excuse me.

So Google isn't going to lose to open ai in the coming few years. It has lost over the past decade when it could have evolved iterated AI into its model and its success encumbered clock speed. Now that game is on, but on a startup clock speed, there's no chance for Google to catch up and even less win this next cycle. The problem compounds over time. This problem compounds over time because every single day that goes by, we're all feeding open ai, our usage patterns, feedback, custom GPDS integrations, et cetera. At this stage, there's no way for Google to shift its clock speed unless it's willing to give the middle finger to the market and its customers for a while and say sorry. The future beckons feel free to opt out and invest your money elsewhere.

So that's a good place to end.

Yep, all right, that's it for today. Please don't forget the rate for you subscribe. It helps us grow. And if you want to hang out with Neil and I to help you grow your agency marketing school, the ioslash Agency, we'll see you over there, and we'll also see you tomorrow