Get ready for your daily dose of marketing strategies and tactics from entrepreneurs with the guile and experience to help you find success in any marketing capacity. You're listening to Marketing School with your instructors Neil Patel and Eric Sue. All right, guys, before we start, we got a special message from our sponsor. If you want to rank higher on Google, you got to look at your page speed time. The faster website loads, the better off you are with Google's Core Vital update. That makes it super super important to optimize your site for low time. And one easy way to do it is use the host that Eric and I use, dream Hosts. So just go to dream host or Google it, find it, check it out, and it's a great way to improve your low time. Welcome to another episode of Marketing School. I'm Eric Sue and I'm Neil Patel, and today we are going to talk about how you can use your conversion rate by offering a bitcoin as a payment option. Neil, what are your thoughts around this? So, Eric, do you own any bitcoin? I do, Okay, what have you noticed with your price of the bitcoin that you own? For the most part, it goes up except until recently, all right, But on a daily basis, will Hamas said, the price well fluctuates. How much does it fluctuate by what percentage point? If you had to take a guess, I think if we're to average it out, it could be around a five percent or so, sometimes ten percent, sometimes twenty percent. There's really drastic swings. If you're a believer that bitcoin is going to rise in the long run, you're in a good position if you're willing to take it. If you don't believe it's going to go up in the long run, then you shouldn't take it. But there's a lot of people out there who have bitcoin. And yes, I know the majority of the world doesn't have bitcoin, but there's still a lot of people, millions and millions of people who own some bitcoin or at least one bitcoin. If you can add coin as a payment option to your checkout, and there's a lot of payment process tools who will help with this, you can end up making money in the long run as long as you're willing to hold. In the short run, I believe you're gonna end up losing money, but in the long run you should end up making more money and adding other payment options to your checkout page usually doesn't hurt conversions. People will either select it or they won't. But if you're a holder, you'll do well. Eric. I know you are running advertising for a company called Polymath, right. I see what was the number one site that you guys spent most of your marketing dollars on? Coin marketcap dot com? Okay, And when you pay coin market cap, what do you have to payment? You pay them in You pay them in crypto, either ethereum or bitcoin. Yes, and you know coin market cap they've made millions and millions of dollars, maybe even hundreds of millions. What's funny is people are like, Oh, their ads aren't that expensive? How do they make all this money? It's because bitcoin has gone up price. If bitcoin hasn't got if it never went up that much in price, and same with the ethereum, they wouldn't have made as much money. So the reason they lucked out is because they held on to it. Yep. So on my end, I mean just practicality, just to give you guys some things you can do. Coinbase actually added the ability to take crypto as of recently, so as Neil said, he's completely right. Sometimes people want to pay in cryptocurrency, sometimes people want to pay in PayPal, sometimes people want to pay through credit card. So you have that option, and then there are some other options you can find too. I can also say that Stripe as of recently removed the bitcoin payment option, but that's not to say that they won't be back just because they don't think it's practical right now, but they might bring it back in the future, who knows. So I think it's I think it's important because you know, there's people around the world that are just they call it hoddle now on bitcoin, so it's basically another version of hold it. It's basically it's gamer speak. So what does this stand for? Hottle? It's it's h o d l. It's it's just holds spelled wrong. But that's you know, the people that are fans are that's how they that's how they break it down. Yeah, if you're a big believer, do it. If not, don't do it. I'm a believer, Eric's a believer. You're not going to end up making money in the short run if your margins on your product or service aren't that large. I don't recommend taking bitcoin or ethereum because you may end up having cash flow issues if you're flush with cash and you don't need to worry about money, or you have really high margins that's like seventy eighty percent by all means take some bitcoin, and yes, you can sell some off to pay for your cost, so that way your whatever's left in bitcoin is just your quote unquote profit. But don't do this unless your margins are extremely good. The volatility can really crush your business if you don't have high margins. Yep. So that's it for today. There's not much more to add. But before you go, go to single grain dot com slash give away to check out our daily give away and we will see you tomorrow. This session of Marketing School has come to a close. Be sure to subscribe for more daily marketing strategies and tactics to help you find the success you've always dreamed of. And don't forget to rate and review so we can continue to bring you the best daily content possible. We'll see you in class tomorrow right here on Marketing School

Get ready for your daily dose of marketing strategies and tactics from entrepreneurs with the guile and experience to help you find success in any marketing capacity. You're listening to Marketing School with your instructors Neil Patel and Eric Sue. All right, guys, before we start, we got a special message from our sponsor. If you want to rank higher on Google, you got to look at your page speed time. The faster website loads, the better off you are with Google's Core Vital update. That makes it super super important to optimize your site for low time. And one easy way to do it is use the host that Eric and I use, dream Hosts. So just go to dream host or Google it, find it, check it out, and it's a great way to improve your low time. Welcome to another episode of Marketing School. I'm Eric Sue and I'm Neil Patel, and today we are going to talk about how you can use your conversion rate by offering a bitcoin as a payment option. Neil, what are your thoughts around this? So, Eric, do you own any bitcoin? I do, Okay, what have you noticed with your price of the bitcoin that you own? For the most part, it goes up except until recently, all right, But on a daily basis, will Hamas said, the price well fluctuates. How much does it fluctuate by what percentage point? If you had to take a guess, I think if we're to average it out, it could be around a five percent or so, sometimes ten percent, sometimes twenty percent. There's really drastic swings. If you're a believer that bitcoin is going to rise in the long run, you're in a good position if you're willing to take it. If you don't believe it's going to go up in the long run, then you shouldn't take it. But there's a lot of people out there who have bitcoin. And yes, I know the majority of the world doesn't have bitcoin, but there's still a lot of people, millions and millions of people who own some bitcoin or at least one bitcoin. If you can add coin as a payment option to your checkout, and there's a lot of payment process tools who will help with this, you can end up making money in the long run as long as you're willing to hold. In the short run, I believe you're gonna end up losing money, but in the long run you should end up making more money and adding other payment options to your checkout page usually doesn't hurt conversions. People will either select it or they won't. But if you're a holder, you'll do well. Eric. I know you are running advertising for a company called Polymath, right. I see what was the number one site that you guys spent most of your marketing dollars on? Coin marketcap dot com? Okay, And when you pay coin market cap, what do you have to payment? You pay them in You pay them in crypto, either ethereum or bitcoin. Yes, and you know coin market cap they've made millions and millions of dollars, maybe even hundreds of millions. What's funny is people are like, Oh, their ads aren't that expensive? How do they make all this money? It's because bitcoin has gone up price. If bitcoin hasn't got if it never went up that much in price, and same with the ethereum, they wouldn't have made as much money. So the reason they lucked out is because they held on to it. Yep. So on my end, I mean just practicality, just to give you guys some things you can do. Coinbase actually added the ability to take crypto as of recently, so as Neil said, he's completely right. Sometimes people want to pay in cryptocurrency, sometimes people want to pay in PayPal, sometimes people want to pay through credit card. So you have that option, and then there are some other options you can find too. I can also say that Stripe as of recently removed the bitcoin payment option, but that's not to say that they won't be back just because they don't think it's practical right now, but they might bring it back in the future, who knows. So I think it's I think it's important because you know, there's people around the world that are just they call it hoddle now on bitcoin, so it's basically another version of hold it. It's basically it's gamer speak. So what does this stand for? Hottle? It's it's h o d l. It's it's just holds spelled wrong. But that's you know, the people that are fans are that's how they that's how they break it down. Yeah, if you're a big believer, do it. If not, don't do it. I'm a believer, Eric's a believer. You're not going to end up making money in the short run if your margins on your product or service aren't that large. I don't recommend taking bitcoin or ethereum because you may end up having cash flow issues if you're flush with cash and you don't need to worry about money, or you have really high margins that's like seventy eighty percent by all means take some bitcoin, and yes, you can sell some off to pay for your cost, so that way your whatever's left in bitcoin is just your quote unquote profit. But don't do this unless your margins are extremely good. The volatility can really crush your business if you don't have high margins. Yep. So that's it for today. There's not much more to add. But before you go, go to single grain dot com slash give away to check out our daily give away and we will see you tomorrow. This session of Marketing School has come to a close. Be sure to subscribe for more daily marketing strategies and tactics to help you find the success you've always dreamed of. And don't forget to rate and review so we can continue to bring you the best daily content possible. We'll see you in class tomorrow right here on Marketing School