In the current state of the world some things are working REALLY well in the marketing world… and some things being done are permanently destroying relationships between brands & customers. Ladies & gentleman, we’re in the NEW wild wild west… and in this episode Mike Dillard & I talk through navigating this new world as a leader.
Let’s go ahead and dive into what you have seen over the last two months. Cause I remember when this first started and we were on phone calls nonstop with everybody. Everybody knew each other and probably a hundred other business owners. What do you see happening? What’s going on? What are you doing? And you’ve got, most of my friends are in the info business, but you’ve got your hands in companies that do e-commerce and Amazon stuff as well, which is a whole another animal. But what have you seen in the last two months? Cause I think it’s already changed quite a bit.
It’s been interesting in, in full disclosure, some of my clients right now are NBA teams and professional athletes. And so when this happened, it was like 911 and I mean three weeks, I’d say probably 200 phone calls and two to three weeks with everybody from pre-revenue all the way up to. $37 billion a year were calling me, and all of it was the same.
It was panic. It was fear. Like, what do I do? And my advice to all of them was the same. Write it down, breathe and do nothing for 24 hours. Call me tomorrow. Just to kind of create that space. I think a whole lot of what’s happening is that, you know, really what happened is two months ago, humans were living in this place of neutrality. Like, here’s my life. I want to learn this. I might invest in this, I might do here. And basically overnight human agency was eliminated. Their ability to choose their ability for free will, and so it went from neutral to net negative, and a lot of people weren’t prepared for that. There was a whole lot of, uncertainty, fears, fear-mongering, all these things. And we as companies end up becoming either, come help me or I hate you. What are you doing? And everybody’s trying to navigate that. And really what it is though, is that the people that are reaching out are feeling that. Are those people screaming for leadership?
And so, so for me, like the biggest thing that I’ve seen in the last two months is everybody’s really clear vision of how customers want to be deep in the first place. Like how they want a relationship, how they want to have a relationship with a brand or with an entrepreneur and an info business, a physical product business.
And really the ones that have been winning are the ones that took the time before to develop customer journeys and have communication strategies and, and have high value touch points and personalized touch points. And the ones that have been struggling the most are the ones who are like, Oh, well we’ll just throw another campaign together. We’ll spend some more money on ads. And people are so uncertain that they’re looking for any ounce of safety, security, or certainty. And one disclosure here, they’re not looking to be told like, I have your back in this, Like, we’re in this together. No. Like they’re looking to feel it, right.
They’re looking to see the path they’re looking to have it. And really what I’ve seen, you know, we had this really big resurgence. So, between three of my companies, we were down 78%. And so losing about 60 grand a day, and it hurts and I’m going to tell you it hurts really bad. Like I’m not numb and immune to this and, but we made a rule like, we’re going to pay our employees the same.
We’ll cut owner pay, and we kind of pivoted against what most people thought. So, like for example. You know when human agency is eliminated, and I played enough war games in my life when it’s eliminated, the first thing we go to, and you nailed this as the right to Maslow’s hierarchy of needs. Like food, water, shelter, and that’s what people need. So customer journeys used to take 25 to 50 touch points when people had a space of neutrality. Now they’re taking 50 to 200 because we’re not starting from that neutral. We’re starting from. I don’t have my basic needs net, who’s going to support me?
Who’s going to see me? And so things like superlatives, like supplements or diaper bags or like extraneous things like have not been selling whatsoever. But the interesting part is that the. Where the supplements and the foods and all of our physical products, and I’ve probably talked to a hundred physical products brands where the products themselves aren’t selling right now.
The level of engagement and responsiveness is going through the roof, right? People are screaming like, Oh, I want your help. I want to be a part of this brand. Knowing that when things start to clear, they’re going to kind of skyrocket out. And so we’ve pivoted pretty quick. Like for example, it crazy muscle, you know.
We were selling multiple, like in the thousands of units a day of creatine and supplements. And it went down to like in the tens and we’re like, what’s going on? And I was like, well, people aren’t going to the gym and boom. And so we decided we were going to pivot hard. And we said, well, we’re going to give you free body weight workout at home, like 30 days with an influencer and if you give us your email and commit, we’ll give you a free product of your choice because we want you to maintain these results.
With that is eliminated the people, and like podcast listenership is up 40% social media consumption is up 11 times. Like the average person spending almost nine hours a day on Facebook is that people are just kind of screaming for a home and community right now as they kind of establish a new norm. And so across the board, that’s kind of what we’ve seen. Some companies have like skyrocketed, of course, like frozen, frozen foods, dry foods, things like that. People with cleaning products, hand sanitizers, organic products, things like that. And then some of the other ones. Their sales of screech to a halt, but their community and engagement, and they’re like social following as like kind of skyrocketed through as long as they’ve maintained consistency.
Now, the biggest mistakes that I’ve seen, and there’s two of them. Number one, watching people continue business as usual, completely tone deaf and there’s many people that Mike and I know that probably won’t have a business when this is done and probably are going to have a couple of years of recovery running ads, doing things like nothing’s happening. And I’m not saying you have to believe the fearmongering you have to dive into it. You just have to acknowledge that there’s something different, right? Like everybody’s come from, and the lens is very different right now. And then the second biggest mistake that I’ve seen that’s hurt the most is people just kind of reclusive.
Like companies, entrepreneurs just kind of like, I’ll wait for this to pass, Like, it’ll be gone in four weeks. We’ll go back to normal. It’d be gone in six weeks. We’ll go back to normal. New normal is a new normal that’s being established right now where we have to kind of insert ourselves into that new normal and dictate what that paradigm is going to be. And so that’s kind of a summary of what I’ve been seeing and some really weird nuances that I’ve seen. But I think, there’s a whole lot of, we’re not measuring what’s happening right now. We’re paying attention, but we’re not making decisions. I’m like, this is going to be normal, or this is going to be predictable in a couple of months, but just kind of paying attention to how people are acting.
So that’s kind of like the biggest overview I could give. It’s interesting, at least in the, the entrepreneur space. We weren’t sure which direction it was going to go when this first started. Are people going to. Not be interested in starting a business and pursuing cause all of the, the dream normal dream stuff goes away.
Buying your dream car, your dream house, going on that vacation, it’s all gone now. And so it didn’t go away. It just changed to, Holy crap, I have to start a business or I’m going to start a business now because I never want to be in this place of insecurity from a job perspective ever again.
And so that space is actually gone the same or higher as far as my colleagues in this industry go, their sales, if they’ve, they’ve realigned their marketing message in their ads. Again, same or higher. So people are spending money. I think that’s, that’s the most important thing to mention here is that people are spending money.
You just have to approach how you’re selling your products and your service a little bit differently, which is what we’re going to talk about here more in a minute. That’s super valuable insight and as far as where things go, it’s really interesting. They’re starting to to be a little bit of light at the end of the tunnel that we can kind of see.
Now we see president Trump coming out and saying, Hey, we’ve got a plan in place to start opening up the economy and businesses again in phases. We’ll see how long that’s going to take. I would expect to see them start to open up certain business types the first week of May and more. But what’s really going to be interesting is when the next quarterly results come out from a stock market perspective. I think the stock market right now, for the most part, is kind of on a holding pattern until those numbers come out. We’re over 22 jobless claims now, which is absolutely unprecedented. That number is going to continue to go up on a weekly basis. I predicted a week ago that we hit 30 million in two weeks.
We’ll see how close I am next week when the numbers come out for at 30 million or not. After that, when the stock market or when the numbers come out for quarterly earnings, they’re not going to be good. Clearly, we’re just going to have to see what happens to the stock market yet. So if you guys are thinking about investing in stocks right now, you know, we’re down, I think, what the Dow’s down 30 percent right now, approximately, if I look at it, looked at my numbers correctly this morning. You might want to put a little money in there, but I would definitely save some to see when the next earnings report comes out because I think you’re going to get a a better deal and a better opportunity then. And then that’s when things are going to get really interesting. So on one hand we see some light at the end of the tunnel. On the other hand. There could be a whole second wave to this that most people are not anticipating or expecting.
I’m hoping it’s going to go the positive direction. So we shall see. Now from a marketing perspective, George, and I don’t know if y’all have had a chance to watch Phillip’s video, but his whole thing was how do you want to be remembered a year from now? Because that’s what’s going to matter the most and this is kind of a random topic, but it’s important, and I want to cover this. There’s obviously a ton of news and theories around where this whole thing started, how it started, who’s involved, if it’s nefarious, if it’s, you know, just a freak of nature type event. I don’t think anybody actually knows the truth and I think a lot of sides both makes make sense on both sides.
But I see a ton of entrepreneurs talking about this nonstop on Facebook and Instagram, and I think it’s a huge mistake. So everybody tends to have an opinion about this one way or another. If you, I’m in a business and if your customers follow you on social media, and if you were talking about that on a regular basis, okay, you’re alienating probably half of your customers and you’re keeping them in a state of fear. Which unless you sell bug out bags, it’s probably not good for your business. And when this is over, let’s just say in six to 12 months from now, and things get back to a a better place. How are they going to remember you? Are they gonna remember you for freaking them out and scaring them on a daily basis and wasting their time and throwing this stuff around, even if it’s true? Or are they going to remember you as someone who was a steadfast leader who was providing Sage advice and wisdom and a very scary time? And that’s the choice that you have to make right now.
And then third group is. And this is not that rare, but I’ve seen it a couple of times of people saying they’re bored. You know, God, I’m so bored right now. When is this going to end? If you’re bored right now and you want a business, if you’re going to be out of business and six months, we’re working seven days a week here. Literally, I haven’t had a day off since this whole thing started so. I would, if you’re in it, doing either of those things are in that other category, just reconsider what it is that you’re doing and how you’re approaching it.
Absolutely have your opinion. Nobody’s right or wrong here. I don’t know what the truth is, so I’m staying completely out of it at all times. The way that I’ve chosen to approach this from a business perspective. Is with that seven things every entrepreneur needs to do during a crisis video that I recorded over a month ago, probably four to six weeks ago and posted on Facebook.
So we’ve been posting or putting, spending a hundred to $200 a day just promoting that video, which goes nowhere. It doesn’t have a capture page. It doesn’t have a sales video attached to, it doesn’t have anything. It’s a 25 minute video of the most valuable advice that I could ever give an entrepreneur right now. And again, we’re spending a hundred to 200 bucks a day on that 3000 to $6,000 a month on a video just to get people to watch it. So far, 330,000 people have watched it and that video has created more Goodwill and more opportunity than anything that else that I could’ve possibly done during this crisis.
I have people calling for interviews all the time. I have folks that I haven’t talked to in years reaching out saying, thank you. I have customers who are getting re activated and in my business, cause I basically disappeared for a year and a half dealing with my brain injury. And then the second one we posted two weeks ago, we’re now doing the same thing with, my goal is to put up one of those videos. Like once a week and have it stay on that same exact path in line of staying completely neutral when it comes to all of the theory stuff and just being of service to my customers and client in a really measured, calm way. And whatever your budget is, But if I have three videos and I’m spending 300 bucks a day, then great. I’m going to put a hundred dollars behind each video on a daily basis and that’s the best thing that you can do because here’s how we’re going to use that as a business. All of those people are being put into an audience and Facebook. I know every single person who’s watched that video know how much they’ve watched.
I know if they’ve gone to my website, I know if they’ve liked it or interacted or shared or commented, and now whenever we do launch revenue. That’s the first group of people that I’m going to be targeting with ads for revenue. And because they’ve already engaged with my stuff, I’ve already created Goodwill. They already know who I am. They’re already grateful for the content that they’ve gotten and it’s a small subset of 330,000 people. Instead of targeting 30 million, that’s 300,000, 30,000 people. I can now target. With a call to action based ad that will generate leads and or sales for a fraction of the amount of money that I would have to spend otherwise go into a cold market who’s never heard of me before seeing me before, anything like that.
So those are just kind of thoughts. If you have any commentary, George, I love it and it’s super genius cause you know, one of the things, you know, three months ago we were spending our days trying to get people in a heightened emotional state. So that they could make a decision. Marketing is getting somebody to elevate an emotion and then in that emotion act, and that’s where we have good memories as well.
The entire world is in a very heightened emotional state. Mind you, it’s fear-based, and so the opportunity here is that most marketing has been done for you, but you have to be very cognizant of how you insert yourself right into that emotional state. And what you nailed is if somebody is in that, what they’re seeing right now, they’re going to remember longer than they’d remember anything three months ago because it’s triggering them when they’re in fight or flight, and it’s going to be a permanent neural pathway.
And so if you’re using this or you’re either in the bucket of board, you’re out, game over. If you’re in the bucket of like, well I’m just going to be like a sheeple and I’m going to do this and insight this cause I’m getting engagement. That emotional state is uncertainty associated with you.
You’re this side, you’re that side. You’re this side or that side or the path that Mike has choosing and everybody should choose is in that. How can I insert myself in that memory? Because. Nobody buys the best product, they buy the best relationship. We’ve never had an opportunity to like this ever to develop this level of a depth of a relationship.
Knowing, and we said this in the beginning, customer journeys have changed. You know, buying cycles aren’t going to be seven days right now. They’re going to be 17,27, 40 depending on decision processes. But all of these touch points matter. And so we’re doing the same thing. I just, instead of making a video, I wrote a 26 page ebook for free and I put it in a Google document, no capture page, no nothing, just a link to my Facebook group.
If you need more, and we put it up on Amazon, became a number one bestseller and downloaded like 34,000 times. And I was like, this is how to pivot in uncertain times. These are all the things you can do in your business, and I will say this, if you’re in the camp of. We’re going to post this, we’re going to take a side.
It’s nefarious. It’s this. It doesn’t matter. As you’re doing that and their consumption is 11 times up, the first person they see somebody that’s a steadfast leader. That’s, you know, using principles or structure or giving tangible advice. Your basically marketing for other people.
You’re spending your time pushing your customers away rather than bringing them closer to you because they don’t need. Any more fear-mongering. They don’t need any more evidence. The world is doing a great job of doing that right now. They need safety, security, and certainty, but they need to feel it.
Like, Mike, your video is gold. These are the seventies you can do. It’s a part of this big plan. It gives them an ability to kind of advocate their own responsibility and put it on the shoulders of you. Well, Mike’s got me. Oh, I can do that. One thing I know if I need anything, I can come back to the podcast.
I can come back to revenue. I can do those things, and so it’s the best way to. The pivot in any of these times because the depth of the relationship when you insert yourself now is never going to be forgotten. Like these customers that are coming in now in any business, and we’re seeing this across the board, we’re getting messages every day.
Like I could never buy another product even if they made a better one. Thank you for responding to my emails. Like this helped my family so much. I was so scared before I got that email, before I got that video, and that never gets forgotten about.