Learn how to overcome the biggest challenges faced by marketers with Neil Patel! From growing a global audience to navigating privacy regulations and pivoting strategies in times of crisis, Neil provides valuable insights and actionable tips to help marketers succeed in today’s fast-changing landscape.
0:00 Intro
0:47 Challenge #1 | How to grow a global audience
2:36 Challenge #2 | Privacy Regulations
3:51 Challenge #3 | How to pivot during major global events
6:38 Challenge #4 | Measuring your ROI
8:19 Challenge #5 | How to generate traffic & leads
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Challenge number one, 62% of marketers say that growing a global audience was their biggest challenge this year.
You know, what’s funny is I’ve created a global audience, and what I’ve also found is once you create a global audience, it’s also even harder to monetize that global audience. But the biggest reason that we see marketers struggle to grow a global audience is they typically focus on one language, believe it or not. The real strategy and way to not only create a global audience but be able to monetize it is you got to translate and transcribe.
Challenge number two, 56% of marketers say that updates to privacy regulations is their biggest challenge right now.
The reason marketers have issues with privacy changes isn’t because they don’t like them or they like them, it’s more so every country has their own rules so you got to adapt to them from a legal perspective. As marketers, you got to adjust what you show people based on the regions that they’re coming from. The solution to this is personalization. Think about personalizing experiences.
Challenge number three, 53% of marketers say that pivoting their marketing strategy due to major global events like the pandemic, recession, or political turmoil is their biggest challenge.
Think of the Facebook rule. If they’re trying to build a product, the number of engineers that they have should be able to be fed off of one large pizza. So when you have too many cooks in the kitchen, in other words, things actually move slower. So what you want to do is figure out who on your team is agile, can move fast, and have a small circle. It doesn’t mean that you don’t update everyone else on what’s happening and the changes they may need to make, but you need a few people who can just focus on executing and adapting and changing.
Challenge number four, 51% of marketers say that measuring their marketing efforts and their marketing ROI is their biggest challenge.
The reason 51% of marketers say they struggle to measure marketing’s ROI is they focus on vanity metrics. So everyone knows there’s Google Analytics, you can pay a consultant to set it up for you. But that’s not really the issue. There’s actually a bigger issue on hand. What we’re seeing is companies aren’t focusing on what channels, what keywords, what audience type, et cetera, are driving the conversions and they’re not focusing on getting more of those. So when you set up your marketing campaigns and your analytics correctly, you actually need to pinpoint what’s driving the most ROI and double down on that.
Finally, challenge number five. 47% of marketers reported that generating traffic and leads was their biggest problem this year.
The real solution for marketers, it’s always going to be hard, but the real solution, and this is really the only solution, is to take an omnichannel approach. So what I mean by the omnichannel approach is you got to do paid advertising, not just Facebook and Google, but Bing, Reddit, Pinterest, TikTok, you got to try them all out, Snapchat. You got to do SEO, not just SEO on Google, but there’s also Bing. If you’re in the hospitality space, getting your listing for your home higher on Airbnb it’s considered SEO as well.
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– What we're seeing is
companies aren't focusing On what channels, what key words, What audience type, et cetera,
are driving the conversions, And they're not focusing
on getting more of those. (bright music) – Today, we're joined by Neil Patel And we're going to
discover Neil's solutions To marketers' five biggest challenges. Welcome, Neil. – Anytime, thanks for having me. – For some context, we
surveyed 1,000 marketers And asked them about their
five biggest challenges That they struggled with in 2022. So I'm going to read each challenge to you And I would love your answer As to why it's such a big
challenge for marketers And one tip you have for
overcoming that challenge. – That works, let's do this. – Challenge number one, 62% of marketers say that
growing a global audience Was their biggest challenge this year. Why do you think it's such
a problem for marketers And how would you combat that challenge? – You know, what's funny is I've created, A, a global audience,
and what I've also found Is once you create a global audience, It's also even harder to
monetize that global audience. But the biggest reason
that we see marketers Struggle to grow a global audience Is they typically focus on one
language, believe it or not. People either start off in
English or Spanish or Portuguese Or they pick a popular language
like Hindi or Mandarin. But keep in mind, the
majority of the world Doesn't just speak English
or Spanish or Mandarin.
They're speaking tons
of different languages. And the real strategy And way to not only
create a global audience But be able to monetize it Is you got to translate and transcribe. So here's what I mean by that. You can go find people
on places like Upwork Or whatever forums you
can within that region Or even within your local community, But you need to find people Who are experts within your
industry or know it enough But live in that country
and you got to pay them To translate and transcribe
because adjusting the words From English to the other
language doesn't always work. Sometimes you got to adjust
it for cultural differences. And then the reason you also want someone Within that local region
is they need to help market That content, the website,
the product, the service, Whatever you're trying
to build community-wise Within that region, Head up other sites to get back links, Head up other social profiles
and connect with them And set up interviews for you. You got to actually
have feet on the ground, And again, you got to
translate and transcribe And that solves it. But without doing that, Sure, you can still
build a global audience Even if you stick to one
language, like let's say English, But they're not going to be as engaged Because not everyone within
those regions speaks English. – Challenge number two, 56% of marketers Say that updates to privacy regulations Is their biggest challenge right now.
Why do you think it's a
challenge for marketers And what's one tip for
overcoming that challenge? – The reason marketers have
issues with privacy changes Isn't because they don't
like them or they like them, It's more so every country
has their own rules So you got to adapt to them
from a legal perspective. And sure, lawyers can
work on terms of service And privacy policies, But you got to actually
adapt your marketing. So for example, in California, At least during recording
of this interview, You have to have a Do Not Track option For specifically California. Some of the other states may
require it, may not require it. But as marketers, you got to
adjust what you show people Based on their regions
that they're coming from. The solution to this is personalization. Think about personalizing experience. If someone has dogs, You don't really show them
products for cats, right? Because you know they have a dog. The same goes when someone
comes to your website From a specific region, using the GoIP, You can, you know, if it's
country-based or state-based If you're in the United States, You can end up adjusting
the marketing messages A little bit here and there. But you will need to
connect with a legal team Or outsourced law firm just to make sure That the marketing
campaigns you're running Are compliant for those
regions or countries. – Challenge number three, 53% of marketers say that
pivoting their marketing strategy Due to major global events
like the pandemic, recession,
Or political turmoil is
their biggest challenge. What's one tip you have for
overcoming that challenge And why do you think that
pivoting a marketing strategy In the first place is so
difficult for marketers? – It is very hard to adapt
when it comes to major events Like COVID or pandemic or
one country going into war With another country and it
affecting the global economy. What I recommend companies do
is most of them try to say, "All right, all hands on
deck, what can we do?" And that's great and you
should end up doing that. But think of the Facebook rule. If they're trying to build a product, The amount of engineers that they have Should be able to be fed
off of one large pizza. So when you have too many
cooks in the kitchen, In other words, things
actually move slower. So what you want to do is
figure out who on your team Is agile, can move fast,
and have a small circle. It doesn't mean that you
don't update everyone else On what's happening and the
changes they may need to make, But you need a few people Who can just focus on executing
and adapting and changing. Because if you have
everyone trying to focus At the same time, yeah, it's great And there's nothing wrong with that, But it just tends to move slower Because you find a lot of
people go into meetings And discussions about it
versus actually doing. It's really hard to get 1,000
people to all adjust at once. But you can get the leaders on board And a few people underneath them Who are really quick at executing. It doesn't have to be
that they'd be managers, It could be lower-level people,
But just people that you
know that can move fast. Once you get a lot of the
systems processes change Or some of the steps or any
improvements you need to make, Then you just need to
distill the information To the rest of the team
and have them follow suit. – And just as a quick follow up, What can marketers do to stay up to date With trends that are
happening in the industry And knowing when to pivot on those? – People will have a lot
of statements saying like, "Personalization is
dead," or, "SEO's dead," Or, "Paid advertising is too expensive." The way I look at it is
keep up with the news. There's a lot of marketing
sites that have a ton of news. You guys do at HubSpot,
we do at neilpatel.com, And there's a lot of
other sites that have news Like Search Engine Land. Keep up with that. But the bigger thing is just
because you read something Doesn't mean it won't work anymore. So constantly experiment
within your organization And use it for the best it is. And here's an example of that. "Oh, people have been saying for years Facebook reach is dying." Just because Facebook reach is dying Doesn't mean that there's no revenue To be made from Facebook Organic. Maybe not as much as before, Maybe you don't put as
many resources behind it, Maybe you repurpose content
so it's not as expensive, But that doesn't mean
Facebook Organic doesn't work. Doesn't mean that you should stop. It just means, "Hey, it's winding down
On how much ROI you can
actually generate organic, But use it for the most you can." And whatever it is, as
long as it's profitable, Keep doing more of it, right? Maybe it's not as good as it used to be, But something's better than nothing. – Challenge number four, 51% of marketers Say that measuring their marketing efforts And their marketing ROI is
their biggest challenge. Why do you think that is And what's one tip for better
measuring your ROI in 2023? – The reason 51% of marketers Say they struggle to
measure marketing's ROI Is they focus on vanity metrics. So everyone knows
there's Google Analytics, You can pay a consultant
to set it up for you. You know, at NP Digital, we
help companies with that. But that's not really the issue. There's actually a bigger issue on hand. Look, at HubSpot, you can send out emails And it converts, the money's in the list. You know, people call it the digital ATM. But what people do Is they focus on things
like visitor accounts And "Oh yeah, we're going
to set up conversions And Google Analytics, we're
going to look at first-touch, Last-touch attribution." But what they're doing is they're like, "Oh, did our traffic increase? Great, yeah, that's awesome." But if your traffic increased
and your revenue didn't, Who cares? What we're seeing is
companies aren't focusing On what channels, what key words,
What audience type, et cetera,
are driving the conversions And they're not focusing
on getting more of those. So when you set up your
marketing campaigns And your analytics correctly, You actually need to pinpoint
what's driving the most ROI And double down on that. And it's okay if your revenue doubles And your traffic goes down by half. It's not a big deal if your
traffic goes down by half Or even 5X if a lot of that
traffic was irrelevant. Your revenue went up. So people start focusing
on these vanity metrics And want them to increase when
they don't matter as much. Like we see so many companies be like, "Aw, my bounce rate is
going in a worse direction," But your revenue and
EBITDA went up by 20%, So who really cares? – Finally, challenge number five. 47% of marketers reported that
generating traffic and leads Was their biggest problem this year. Why is generating traffic and leads Such an issue for so many marketers And what's one tip you have For generating better traffic
and leads in the future? – Yeah, so Andrew Chen once said, "All marketing channels
eventually go to shit," To at least all good ones, why? Because they become
competitive, saturated, And more expensive. It's harder to squeeze a ROI out of them. There is a great advantage
from being an early adopter, But sometimes if you're an
early adopter on channels, I wasn't an early adopter to Clubhouse And I didn't believe in
it 'cause I was like,
"Well, you only get value
from it if you're on there And if you're not on there on
the right time, it's useless." I'm like, "This isn't time efficient." I'm like, "This isn't
going to last, this is not, People don't have these
kind of attention spans To be on this for like hours a day." The real solution for marketers,
it's always going to be hard, But the real solution, and this
is really the only solution, Is to take a omnichannel approach. So what I mean by omnichannel approach Is you got to do paid advertising, Not just Facebook and Google, But Bing, Reddit, Pinterest, TikTok, You got to try them all out, Snapchat. You got to do SEO, not just SEO on Google, But there's also Bing. If you're in the hospitality space, Getting your listing for
your home higher on Airbnb It's considered SEO as well. These are all examples of SEO. When you're capturing
someone on your website, You got to do phone number, you
got to do push notifications, You got to do chat, you got to do email. You actually offered a
lot of these products, Which is great and it works. And people always say,
"Oh, no one opens up email. Email is dead." It's not dead. Emails sent and received per day Was 319 billion emails per day. Like just think about it. If it's dead, why are that many
people sending emails still? So in essence, you got to
take an omnichannel approach With all those channels,
including social media,
Repurposing content, And you got to do it long
enough and be consistent at it. Don't expect results in two,
three months or six months. You got to do it for a long time. There is no silver bullet,
there is no one channel. Facebook grew with the invite flow. Dropbox grew through Twitter. Tweet and get more space. Just using one channel
isn't effective anymore Because they're all crowded. You got to test, adapt, be consistent, Do it in the long run,
and use multiple channels. – Awesome, well, those
are all my questions, But I do want to leave it open If there's anything you want to add When it comes to marketing
challenges in 2022 And as we segue into the new year. – Last thing I would
say is just stick at it And be consistent, continually experiment, And learn from your mistakes and adapt. There is no silver bullet. It takes a lot of time. No good big company was built overnight. If you look at organizations like HubSpot, Dharmesh once had a post, I believe, I could be wrong on this, I don't know if you guys were a unicorn Before you went public, But for all the years you were public, Your market cap increased by
at least a billion dollars. In essence, the point
he was trying to make Is slow and steady, guys have done well, It just takes a very, very long time. Anything that's worthwhile, right?
Like if you want to
build something amazing, It takes time to recruit amazing people, Build up amazing products and services. Good things don't happen overnight. You look at Elon Musk
and how well he's done, SpaceX and Tesla are roughly
20-year-old companies.
