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Welcome to Volume 60!
Things slow down as we draw closer to the holidays, which is not always a bad thing.
It’s an opportunity to pay attention to some priority items you might have missed out on doing during the year.
Like the deal that almost went through.
Or the course you’ve dying to create.
Or the friend you forgot to reach back.
Or the vacation you’ve been postponing…
Whatever it is you put off, now is the time to bring it back on your desk and start planning for the new year.
Of course, it might seem overwhelming to start at first, but hey, 2021 isn’t over yet. You can make the plan and start executing, one step at a time.
Lots of companies, and individuals, still made some tough but healthy decisions this time of the year. Like Twitter’s transfer of power, that really came out of nowhere!
Before we jump right into the exciting bits we have to share, I have exciting news 🥳.
Ross will be sharing critical insights on the topic, “Why SaaS Marketers Should Think More Like Investors to Drive Growth” on December the 10th.
You can learn more and register for this FREE webinar here.
Now, here’s a peek at what’s to come in this piece:
An Unexpected B2B Marketing Lesson From BMW
BMW is a household name.
The German automaker is over 100 years old, with an impressive, consistent annual revenue of over 90 Billion Euros, since 2015.
This year alone, BMW Group sales climbed +17.9% YoY, despite COVID’s negative impact on production
Despite their successes, the automaker doesn’t seem to be slowing down. Early this week, BMW unveiled a new high-performance concept car, BMW XM.
The plug-in hybrid electric car is a repurposed model of the company’s “M” performance division. In other words, it’s some next level design, a super upgrade.
BMW combined the M vehicle legacy with a rock star aesthetic and V8 power engine to create the XM model. They took an existing model and improved it using a combination of materials to make it more valuable to its customers.
The most outstanding lesson from BMW’s latest innovation is its adoption of an underrated B2B marketing tactic.
The automaker takes an existing car and turns it into something more powerful that users would love and find super useful.
They repurposed the car to serve a different target market segment or a specific unfulfilled need.
In the same way, B2B marketers can embrace content repurposing. Hitting publish on a piece of content is not the end of the road. You need to repurpose your content to better serve multiple audiences.
Some may prefer a blog post on a particular topic. Another might prefer a 15-30 minutes long podcast. Another might want a simple update on LinkedIn or a Twitter thread. It could be slideshows, infographics, PDFs…
Here’s what the repurposing strategy looks like:
It’s like a remix of a song.
It’s the same song. But this time, it’s more appealing to you because your favorite artist was featured. Or the new artist added some kind of irresistible flavor to the song.
Similarly, you can remix your content to meet your audience needs.
Turn that podcast into a blog post. Turn the blog post into a slideshow. Turn the slideshow into a video, perhaps for a module of your course. Turn the video into bite-sized videos for socials or a text update on LinkedIn.
Start a conversation on Twitter with a punchline from your blog post. Turn stats from your blog post into an infographic. There’s no limit to what you can repurpose.
You shouldn’t neglect the needs of an audience segment. Switch up your content assets, and you will keep that audience segment from running off to a competitor or leave them stranded.
Remember: you’re a problem solver. So, be like BMW.
Adopt the repurposing strategy. Turn an existing content piece into another content form. Have fun with it and aim to deliver life-transforming value to your audience.
KEY TAKEAWAYS
- BMW unveiled a new high-performance concept car, BMW XM.
- The most outstanding lesson from BMW’s latest innovation is its adoption of an underrated B2B marketing tactic: Content Repurposing
- Hitting publish on a piece of content is not the end of the road. You need to repurpose your content to better serve multiple audiences.
Reddit Ramps Up Video Content
The demand for video content is on the rise, and it’s proven to be an effective marketing channel.
From Instagram Reels to TikTok and YouTube’s vast video library, B2B leaders are investing in video marketing now more than ever.
So is Reddit, with good reason.
In Lemonlight’s video marketing research, 99% of its respondents admitted that they enjoyed watching video content from brands online.
Another 94% agreed that watching a video has helped them make a purchase decision at least once. 72% were swayed by a product demonstration video.
With those stats, it makes a lot of sense why Reddit acquired Dubsmash, the short TikTok-like video platform, in 2020.
They wanted a piece of that cake. And revenue.
It’s been over a year since the acquisition, and Reddit is beginning to ramp up its video content.
First, Reddit is shutting down Dubsmash as an individual app by February 2021. But they’re not killing all of it. Instead, Reddit will integrate all of Dubsmash video features into the Reddit camera.
As a result, marketers and creators will have access to more video tools to unleash their creativity.
Of course, Reddit wouldn’t be making additional investments if it hasn’t seen some return on initial investment.
But since the beginning of this year, the Reddit team has seen a 70% surge in overall hours of video content consumed and a 30% increase in the daily active users. That’s pretty impressive.
With this upgrade, B2B Marketers can leverage Reddit more as a distribution channel to drive more engagement and conversions.
A SaaS company, for instance, can host their own subreddit for users and prospects.
Salesforce has seen a lot of success on Reddit, with it’s subreddit clocking it at 40k+ members.
That’s a lot of people! It also allows Salesforce to connect, and develop a stronger bond with their audience every day.
Your company’s can also use Reddit to:
🧳Gather real insights directly from your customers, and get ahead of issues
🚦Build trust and connect better with your users
🚨Establish authority with the solutions you provide.
🚀 Distribute links to your own news, blog or key landing pages as often as you see fit, without the fear of getting banned.
Beyond owning a subreddit, brands can also create and share helpful content on niche subreddits.
You can also select a host of related subreddits and distribute your content there. If you want to learn how to use subreddits without getting kicked out or banned, start here!
KEY TAKEAWAYS
- Reddit is shutting down Dubsmash as an individual app by February 2021.
- But they are integrating all of Dubsmash video features into the Reddit camera app.
- B2B Marketers can now leverage Reddit more as a video distribution channel to drive more engagement and shares.
Jack Dorsey Bows Out of Twitter
On Monday this week, Jack Dorsey’s words shook the internet. He officially announced his resignation from his roles at Twitter, on Twitter:
TLDR: Dorsey is stepping down as the CEO, replaced by the company’s CTO, Parag Agrawal, effective immediately. Bret Taylor will become the board chair in his place in 2022.
While his decision to resign is shocking and debatable, there are some valuable leadership lessons to be learned here.
Like the need to step away and let more capable hands lead, especially after getting everyone aligned with the singular vision.
Dorsey said, “A company mustn’t be founder-led, especially because it can be severely limiting and a single point of failure.” (Paraphrased)
Giving up control is a critical challenge most founders must face.
It’s true that founders spend years dreaming, planning, strategizing, and executing plans to ensure the success of their business. And we commend their efforts. However, letting go is a sign of strength and deep devotion to your company’s success.
Dorsey’s words and corresponding action reveal that it’s okay to admit it when you realize that you are standing in the way of your company’s success. He put a lot of minds at ease, and Wall Street, by showing how capable his replacements are.
This was by far the most shocking, yet humbling news for me this week.
However, it’s comforting to know that there are still founders out there who put their customers’ needs, not just the company, before their ego.
That’s customer obsession in the purest form.
KEY TAKEAWAYS
- Jack Dorsey officially announced his resignation from his roles at Twitter
- Sometimes founders need to step away and let more capable hands lead, after getting the company aligned with the vision.
- As a founder, putting your customers’ needs, not just the company, before your ego shows your deep devotion to your company’s success.
OTHER NEWS OF THE WEEK:
⚡Bolt acquires Tipser to allow users to purchase products seamlessly across the web.
🌍 Twitter launched a new live shopping feature last week.
🎧 Spotify and Netflix partner to roll out Netflix Hub feature to all users.
HIRING BRILLIANT B2B MARKETERS:
BRAIN FOOD OF THE WEEK:
Here’s something no one knows (not even my colleagues).
I watch my inbox closely every Friday.
Every hour, starting at 5 PM, I refresh my inbox, anticipating Ross’ weekly roundup email.
Ross sends these in-depth, engaging CEO updates that keep the team aligned and motivated.
And I read every single word while having dinner for one 😅.
I can’t help it though. The emails are value-packed.
There’s always something new and exciting to learn from any and every part of the email—the intro story, shoutouts, company wins, and even the brain food section.
Last week’s brain food was pure gold.
It was an article that shows how you can analyze conversations with clients, read between the lines, and deliver optimum value. Product and service-based business owners, executives, or marketers would find this info super helpful.
Analyzing clients’ words to better understand their needs is a skill with HUGE returns.
Here are ten lessons I learned from the piece:
📍When talking to clients, listen to understand, not merely to respond or defend yourself.
📍Ask lots of questions to understand the direction they’d like to go.
You’re the pilot, and your client is the passenger. The more you know about their destination before taking off, the better your chances of getting them there without hitches.
📍Prioritize potentials over present circumstances.
A client may not have so much budget right now, but a lot can happen in a year, especially with your help. So, take a chance on them. You’ll reap the rewards soon enough.
📍When considering whether or not to take on a client with a small budget, assess their business.
Do they have a great product? Do you see them growing with your help? Do they have a winning attitude? Are they willing to do all it takes to break even and make tons of profit in the long run?
📍Avoid becoming obsessed with treating every prospect as the next big thing.
You won’t always take a chance on the right business all the time, but you will learn from the experience and choose better next time
📍Strive to build a relationship based on mutual trust and respect, no matter the size of the business.
📍For small businesses with high growth potential, be willing to start small and grow with them. Soon, you’ll be invoicing them for larger sums. For now, come up with a strategy that ensures you’re fairly compensated while offering excellent service.
📍When a client is unsure of what they want, it’s not always a red flag.
Uncertainty is an opportunity to guide them using your expertise. You build trust and authority when you help clients understand their problems and show them how you can help them.
📍Speak up if you think a strategy will impede their progress.
Don’t be a “yes” person and go along with whatever everyone wants. Show that you know your onions by backing up your approach with data and lots of examples.
You can apply these principles to all client relationships, no matter how tough things have gotten. Some of these tips are secrets behind our big wins here at Foundation.
You can read the full article here.
TWITTER THREAD OF THE WEEK:
20 Lessons From Generating $75M via Email Marketing by Chase Dimond
IN CASE YOU MISSED THESE:
- Winter is Coming
- How Zapier Uses Listicles To Drive 5+ Million Sessions
- How SaaS Companies Can Use Reddit To Drive Results
WHAT WE’RE WIRED INTO THIS WEEK 🎧:
These round-ups are brought to you by me, Jessica O., every week ✌!
Stay up to date with all of our latest findings by subscribing to our newsletter today. Signing up also gives you early access to Ross’ Tuesday essay full of exclusive industry insights.
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