Why Clubhouse Failed and What Marketers Can Learn From It? #2211

Published Sep 7, 2022, 1:00 PM

In episode #2211, Neil and Eric talk about why Clubhouse failed and what marketers can learn from it. During the COVID pandemic, when millions were confined to their homes, Clubhouse experienced a surge in popularity. But what has happened to the platform since then? Tune in as we discuss some of the critical errors they made and how marketers can avoid making the same mistakes!

TIME-STAMPED SHOW NOTES:

  • [00:20] Today’s topic: Why Clubhouse Failed and What Marketers Can Learn From It.
  • [00:25] Clubhouse’s biggest error: they limited how users could gain value from it.
  • [01:02] How this caused a shortage of content creators.
  • [01:11] What you can learn from this as a marketer.
  • [01:26] Why marketers should focus on the things that will produce value for customers long-term.
  • [02:08] What Google Trends demonstrates about Clubhouse’s ability to adapt (or not adapt).
  • [03:41] The ROI that Eric has gotten from Clubhouse and what the platform still has to offer.[04:31] That’s it for today! Don’t forget to rate, review, and subscribe to this podcast!
  • [04:43] Go to https://www.marketingschool.io to learn more!

Links Mentioned in Today’s Episode:

 

 

Leave Some Feedback:

 

 

  • What should we talk about next? Please let us know in the comments below
  • Did you enjoy this episode? If so, please leave a short review.

 

 

Connect with Us: 

 

Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to Marketing School, the only podcast that provides daily top level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach. Let's start leveling up your marketing knowledge 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 gotta 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 everyone. Just a quick heads up here about our Leveling Up Founders community, which is a private, invite only network of people at the top of their game in business, content and media. Past guests have included people such as Alex and Leila Homosi, Chris do, Vanessa Lao, Cody Sanchez, and much much more. You can go to live dot leveling up dot com to apply and learn more and we'll see you over there today. We were going to talk about like clubhouse failed and what marketers can learn from it. So clubhouse was really popular during the height of COVID, and the issue with it is you had to be on it to get value from it. If you weren't on it at that time, you weren't getting value. In essence, it was live, there was no such thing as recorded content, or people couldn't just post whenever they wanted and others can come at random times. In essence, multiple people had to be on it at the very exact same time to get value from it. And as a marketer, what you should learn from this and the big mistake that a lot of people ended up making early on and people are just spending so many hours and I refuse you, and everyone's like, you're crazy. You should it's blowing up, and I said no. Any platform that makes you beyond it to get value isn't going to do well because you're not going to continually have enough content creators. As a marketer, focus your efforts on stuff that is valuable even when you're gone. So for example, if you create content for a clubhouse and the moment you leave, people don't listen to it. They can't hear it. There's no recordings, it's live. That means your content is gone. Focus your efforts on stuff that continually produces returns for you and value from you years from now. For example, you write a blog post, people can read it five years from now. You create a video posted on YouTube, people can watch it years from now. That's what you need to focus your effort on stuff that's long term. So I'm going to read off a couple of things. So I was actually the one that was guilty of this, trying to get Neil to use clubhouse. I was that it's becoming really unhealthy. I was spending like I think, at a high point, like fourteen or seventeen hours a day something like that. It was crazy. Well one of the things it went up that high. And do you remember what I used to tell you when you spend so much time on it, Oh, how would be like how much so many you make from it? And you're like yeah, exactly, It's like there's no point, no row WHI So okay, by the way, I opened up Google Trends, I typed in the word clubhouse, and I broke it out worldwide. Over the last five years. So there's a big peak January twenty twenty one, and then it really peaked February twenty twenty one, and then it just kind of like after June of twenty twenty one just started cratered. Right, it's back to where it was before. So what I will say is Clubhouse they took too long to adapt, meaning that they took too long to launch an Android app, and then they added recording eventually, but at that point the ship had sailed, right. So I actually logged in the Clubhouse the other day just to see, like, you know, the top influencers, and I could actually see the previous rooms that they've done and how many people they've had come through. The top influencers, Like I have a friend who has like four million followers on there. They're still able to bring a couple of thousand people in. So there's value for the top influencers in there. But when I look at these other rooms, there's like, instead of having like thousands of people in there, there's like, you know, maybe like fifty or one hundred or so. And I looked at all these different rooms, right, so it's very fleeting. I think, you know, I do use Twitter space from time to time to kind of talk about our Leveling Up Heroes NFT project because that's where people hang out. But that's more for me to like kind of announce a broadcast and it is recorded there right. What I will say is I think they probably raised too much money too quickly as well, which I think they have this four billion dollar evaluation right now and that just makes things really tough for them moving forward. So I think the other social channels adapted really quickly too. The only one where it's really stuck is with Twitter. But it wasn't like the next big thing like Facebook is like, well we're going to do something. Spotify's like we're going to do something, and none of them really panned out. So it seems to have done something for Twitter, that's about it. It Shure just sold the company when they had a chance. Yeah, And so the final thing I'll say from my side is from an ROI perspective, monetarily, here's what I actually got. We actually did a room when I launched my book, and that room actually generated me like forty grand so on the book because one person or a couple of people paid for like these packages like you know when you do these bulk orders, so you know there's ROI there. But I would say some of the friendships I got, like I still hang out with these people and being able to hear someone's voice, like when I see them, I feel like, you know, we're really good friends, right, And I see these people like every couple months or so, So those I would say, like that was it worth the time investment? No, But that's the quote unquote ROI that I got. So if I were to go back in time, what I have spent that much time there? Definitely not. So Neil ended up being right here. So anything else, Neil, that's it. Focus your efforts on stuff that produces long term returns. If your content can stay alive when you're not there, don't waste your time on it. Yeah. Actually, listen to our last episode on talking about seven actual lessons marketers can learn from warm Buffett. That's a good one to pair with this one. So that is it for today. Please don't forget to rate, review, and subscribe and we will catch you later. We appreciate you joining us for this session of marketing School. Be sure to rate, review, and subscribe to the show and visit marketingschool dot io for more resources based on today's topic, as well as access to more episodes that will help you find true marketing success. That's marketingschool dot io until next time. Class dismissed