One of my hobbies is trading stock options.
I say it's a hobby cause I'm not very good at it.
My one brokerage account set aside just for options doesn't move a whole lot in any one direction. Kinda just fluctuates.
But, I do it more for fun than anything. So it's a hobby which pays for itself.
When looking at a trading account, like any brokerage account, the more open positions an investor has, the more work is involved in managing things. The more difficult having an overall winning portfolio becomes.
Managing ten positions obviously requires more work and attention than does two. And requires more study, more decisions, and has more movement and numbers to review.
And, there's no guarantee you'll make more with the ten positions compared to the two.
Not at all. Because it's not about the quantity of positions an investor has, but the quality.
Better to have one great position than 10 meh ones.
The same is true with your marketing campaigns.
Your aim should not be mere quantity, to have lots of average performing funnels; no, your aim should be to engineer one or two home run campaigns you can scale wide and far.
Of course you may need to engineer a number of funnels before you have one home run campaign. That's normal, that's fine.
But, once you identify that home run campaign, focus on it. Drive it. Weed out the others. Keep your marketing structure simple.
It's a different ballgame when you can operate with this kind of focus.
So, repeat after me:
Less but better, less but better, less but better.
And be disciplined with your marketing focus.
Unlike my options trading, this is NOT a hobby...
This is your business we're talking about.
With that, let's get to this week's goodies...
MY FAVS THIS WEEK
- 6 Classic Growth Hacking Examples That Defined Growth Hacking
I'm not big into the whole "growth hacking" movement.
But, I always enjoy hearing how founders leverage seemingly small things to make big things happen in their companies.
This is one of those articles that'll make you think, "Hmmm, what could I do like that in my business?"
- 4 Copywriting Techniques for Engaging Podcasts and Audio Presentations
This is just good, solid copywriting advice. Nothing ground-breaking; but, valuable nonetheless.
And, I feel most entrepreneurs and marketers are weak in all four of these areas. Yet, these are foundational copywriting skills.
- 'Why Do I Spend Weeks Avoiding Tasks That Will Take Me 10 Minutes to Do?'
Procrastination is a mental thing, an issue in your thinking or feelings. Almost never an external issue.
So, how do we spot and change those thoughts or emotions which are causing us to procrastinate?
If you struggle at all with procrastination... especially stupid, little tasks... this is for you.
ODDITY FROM MY LIBRARY
Most know of Roy Williams' The Wizard of Ads, the 1998 Business Book of the Year. Few know about the Secret Formulas 2013 follow-up.
For the serious student of marketing, this is a solid addition to your library.
It's not your typical marketing book. It's a mix of tales and strategies with a sprinkle of woo-woo.
It's broken-down into 100 short chapters. So you can go through Secret Formulas as a daily devotional or quick morning read, if you want.
WHAT I'M TELLIN' MY TEAM
This week on our internal Team Marketing Training...
We discussed how to build credibility in a marketing campaign... without coming-off arrogant, braggadocios, or self-aggrandizing.
While this may seem like a non-issue within most campaigns, or something easily pulled-off, it's a lot more important than you may realize.
First off, prospects buy from people they like and trust. They don't buy from people they don't like or don't trust.
Part of establishing trust is demonstrating credibility.
But... and this is the second point... how we demonstrate credibility can have a significant impact on how much or how little the prospect likes us.
Obviously, if you're obnoxious about your accomplishments, achievements, whatever... your prospects won't have the same level of affection for you as they would if, maybe, you were a bit self-effacing.
Balancing these things the right way in your marketing is essential. Especially today.
TEAM TAKEAWAYS IN THREE BULLETS:
- It's more effective to have prospects come to a conclusion on their own than it is to have us try to force a conclusion on them. So our marketing should be designed to lead prospects, not push them.
- We always need to establish credibility within our marketing campaigns. But, we need to do it without being braggadocios.
- There are many ways to make a point within our marketing without being explicit. This is where "marketing optics" come in to play, as well as framing and positioning. We should never forget: "A known tactic is a blown tactic."
This question was posted inside the MFA Nation Facebook Group...
Below is my response:
NOTE: If you're not in the MFA Nation Facebook Group with us yet, you're missing out.
What do Jay Abraham, Dan Kennedy, Gary Halbert, Joe Sugarman, Ben Suarez, and Joe Karbo all have in common?
They all learned from entrepreneur... marketer... inventor, Harvey Brody; specifically, his Toll Position concept for revenue generation.
While it doesn't apply to every business, exposure to Harvey's Toll Position concept can impact your thinking about new revenue streams and business opportunities.
You can download the 36-page transcript of the famous interview Harvey gave regarding his Toll Position approach (among other topics covered).
Note: This is copyrighted material, but shared with Harvey's permission.
PIC OF THE WEEK
At the last MFA Live we held in 2018 we did something special...
We hosted the biggest mastermind ever.
It was a separate session from the rest of the live event. And, basically, was one big gigantic mastermind session... with people sharing and swapping best practices, ideas, etc. All organized and hosted from the stage.
At the end of the session a winner (for best insights) was selected and given a little cash prize.
Here he is, Nehal Kazim of AdPros.com.
I love giving away these big check thingies. Fun. And memorable. As was this night.
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