Should You Start a Digital Marketing Business in 2020? Even after Covid19?

Rich Ux

Should You Start a Digital Marketing Business in 2020 Even after CV

Beginning of video transcript:

I'm going to look at four topics today. you know, clients, are they still available? We're going to look at market saturation. We're going to look at the future-proof nature of the work. And we're also going to look at remote capability to see if anything's changed. Anything's shifted. So first and foremost, you know, clients are there enough clients to go around for digital marketing and becoming a freelancer.

[00:01:42] Or building a small creative agency, is there enough work for us to go around? Certainly given everything that's happened, a lot of businesses have shut down. I'm not going to lie. I definitely lost a few clients. You know, they had to completely close their business for at least two months. And of course they're worried about the future.

[00:02:00] So they might not even reopen and pay those hefty rent costs. So no doubt we've lost some clients. And, I think that was sort of expected once we got going into this, hopefully they can resume and pick it back up. But when they do pick it back up, perhaps they are going to be in a completely different form.

[00:02:19] I think that we might need to consider changing some of our offers. moving into more of helping people create digital services and digital products, rather than selling hard goods or local services or local, offerings. I think you gotta look at your price just to make sure you're still in alignment with the current times.

[00:02:39] I think there would be nothing wrong with having a special price, you know, for the next three to six months and then resuming it back in 2021, should things pick up. you gotta make sure you're positioning yourself in the market right now correctly. Yes. I definitely think there's clients available.

[00:02:54] But they need a certain person right now. They need someone who can help them save money. They need help. Someone who can get help and get more sales, might not be the time for branding. It might not be the time for general content or brand content. It might not be the time to start a podcast. it might be the time to improve copywriting on sales pages.

[00:03:13] It might be time to run some Facebook ads. It might be time to do a bit of a free course or a challenge and get some leads going. These are all questions. I would be asking myself, but I certainly do not think there's a shortage of clients. In fact, I think right now people are. Being patient being conservative.

[00:03:32] But I think actually in the next two to five years, there's going to be a massive explosion of the amount of people who feel they need a digital offering a digital business of some kind and just think about where you're going to be in your career in two to five years, how much more experienced you'll be.

[00:03:52] I think you'll realize that, you know, things might be a little tough today. But from a saturation and client perspective, you know, are there enough clients? I don't, I think there are, I think that it's absolutely possible to find clients right now, but they're different. They're changing, they're shifting.

[00:04:13] And I think you have to get your head around that and make sure that you have contextual offers to the times. You know, I don't really like the term new normal. But I'm not going to deny. I see it happening as a manifestation in many different areas of life. You might have to have it a bit of a new normal in your offerings.

[00:04:33] Now, having said that there's enough, clients are there too many digital marketers are there too many people vying for the career that you and I are talking about right now. And the absolute answer is no. I don't see enough people becoming digital marketers for how much work I see out there. I think there's so many ways to be a digital marketer plus something.

[00:04:58]and it's really just emerging how to be a freelance, digital marketer. Freelance graphic design has been around since Photoshop. But freelance marketing is really coming into play now in a no-code environment, in a automated environment, in a managerial and campaign organization environment. So I think we are really on the cutting edge of what's going on here.

[00:05:26] I think you can tell by the size of my channel, I think we have about 7,000 subs at the time of recording this, you know, not. It's not really the biggest topic yet compared to some other things that we've seen in the last 10 years. And another way to think about saturation in terms of are too many people doing it is, Are your parents asking you to become one?

[00:05:49] Like I might ask my son to become a digital marketer. I'm just like some parents who are doctors or lawyers or engineers. They encourage their kids to take those industries. Because of how lucrative and profitable they were. But if your parent isn't asking you to be a digital marketer, yet you realize it's not in the cultural norm as a profession yet, it's still emerging.

[00:06:13] You have to trust me, but let me tell you something. When your parents tell you to do something, it's far too late, it's a very competitive industry, the legal world. It's not a fun path to become a doctor it's very grueling and very challenging. And you can simply make more money as a digital marketer than either of those careers, in at 15 year window.

[00:06:34] And I think in a one to three year window, you can actually make way more as a digital marketer, as a new doctor you're you're interning or whatever it's called. You're doing your residency. You don't get paid that much, maybe 60, 70 as a new lawyer, you get 55, maybe 50. Like in your second or third year of digital marketing, you can hit six figures.

[00:06:53] If you, if you've got good training, you understand you have a little bit of money to play with. You've got some clients, you know how to get clients. Six figures is very, very reasonable. I mean, we're talking about $8,333 a month. That's just for $2,000 clients or 3.2, $3,000 clients or eight $1,000 clients.

[00:07:14] I think those are all possible with you working hard for 12 to 18 months focused on building that if you're doing five other things. Well, I don't know if you're going to achieve it, so make sure you're focused, but do not think that. Becoming a lawyer or a doctor right now is a better choice than a digital marketer.

[00:07:32] I don't think so. I think digital marketing is going to be one of those jobs that a lot of people envy in the next three to five years, not just because of the money and the enjoyment of the work, the challenge of the work becoming a digital marketer essentially turns you into an online business Ninja.

[00:07:50] You're going to be able to leverage that in your life for your family, for your community, for you and your brands. What are you going to do as a lawyer? Maybe you negotiate something for your family. While you're going to write contracts for your family. You're gonna write contracts for yourself. It's not that applicable.

[00:08:05] What are you gonna do surgery on yourself? And let's be honest. Most doctors, they aren't even that healthy, so they don't even apply it to themselves all the time. Digital marketing is going to invade your mind, and you're going to learn how to think about things in a much more profitable. And a much more thoughtful business way.

[00:08:24] It's not just going to be what the textbook says. Digital marketing helps you learn how to problem solve. It helps you learn how to make fast decisions, man, it's a career that doesn't stop paying itself. I mean, you get so much financial confidence as well. It's a skill that no one can take away from you.

[00:08:42] I mean, people can borrow you from the legal world. People can bar you from the medical profession. You can't be barred from starting a business. Okay. And that brings me into the next thing. Future proof. This is still such a future proof industry. And I think that it's a little quiet still, but you're going to realize, you know, we're trending digital as a world, as a society.

[00:09:06] I mean, have you seen the stock prices of the zoo? Of Wayfair of Upwork of E-bay all work from home, all remote sort of businesses. That is where money is flooding into right now. because people can see that there are some businesses right now that are very future proof and the businesses that are future-proof are stemming from people who can do transactions online and who can create platforms.

[00:09:31]where transactions are held, but also curation of other people's transactions. Upwork is a curation of digital service transactions. E-bay is a curation of auction based transactions. Other people are doing this, the busy bidding and selling. So digital marketing is the fabric. That holds all of these things together.

[00:09:53] So is it, future-proof absolutely marketing is never going to go away. It's going to shift, it's going to evolve, but you know, for the time being we're in the infancy still of what marketing is, marketing has been around for six, seven decades already. We're really only into the first decade of digital. I mean, in 2010, it was just emerging that you could post on social media and potentially drive traffic to a web page and make a transaction.

[00:10:19] All these things. Proliferated recently. And, we just can't ignore what's changed in society. And I think that's one of the big problems is people don't know how to react to the exponential growth in technology. People don't know how to adjust their life and perception of what's really happening. And I think that really holds them back.

[00:10:39] So, but, you know, think about what it really means when eBay and Upwork and. Wayfair and zoom and DocuSign and all these companies are just really skyrocketing right now. All of a sudden there's a clear shift in society and, there's only going to be more, there's only gonna be more websites needed.

[00:11:01] There's only gonna be more landing pages needed. There's only going to be more graphics and videos and Facebook campaigns needed to endless amount of work. And you know, let's not forget. It's remote as well. Everything is remote. Everything is digital. You need to find the intersection of remote and future-proof, without those two things, you will be living in fear that the nine to five was the better solution because it was more supporting and it was more.

[00:11:30] You know, reliable. We all know no job is reliable anymore. First of all, so never make that argument. But if you don't have the future proof, why get started, right? Why start a dead industry? That doesn't make sense, right? Like you don't really want to be getting into SEO in 2020, not, not the traditional way.

[00:11:48] It's kind of moving past as a concept, digital marketing encapsulates more of the campaign building, and that will never go away. you need the remote capability. Otherwise your job is still in threat from pandemics and such. so being able to work from home. Being able to move in the form of instance of a disaster, easy travel without disruption, you can just keep working while you're on the go to me.

[00:12:17] These are such essentially of career choice making. The funny thing is, is since I became a digital marketer, I don't think about career. I think about my lifestyle. I think about how I can integrate the flow of cash into my projects, into the work that I want to do into my team. How can I set my clients up for success?

[00:12:39] How can I bring them results, which will drive more cashflow? How can I turn everything? I'm learning into training materials so I can teach other people it's not career anymore, guys. It's a lifestyle. And it's actually what I like to call. Hyper modern lifestyle design, finding something that is safe in the modern time of all the threats that exist, finding something that gives you the freedom.

[00:13:06] So you don't feel like your life is being ripped away from you finding something that pays you enough so that you can live a safe lifestyle, a healthy lifestyle. I mean, I'm someone who likes to drink the green juice. It's expensive, organic vegetables and fruits are so expensive. I understand. And that's why digital marketing is great because not only does it give you the client service Avenue right out of the gate, you still have that today.

[00:13:33] You can do that right now. You can call up someone right now. You could offer them 10 hours of your service for $500, $50 an hour. You will crush it for them in those 10 hours. And you will make them maybe a funnel, a Facebook ad, maybe you'll design them a video or a poster. Do some social work. I don't know.

[00:13:50] There's a million things you can do. You can do that all now, but if you want to survive the inflation, if you want to survive, what's happening right now, you need to be on the producer side of things, right? When you have a product to sell, you can increase the price based on inflation. Right. When you're only working as an hourly wage earner or as an employee, you were at the back end of whatever money is left over, you know, you're going to get that.

[00:14:23] You're not going to be on the right side of inflation. so as a digital marketer, you get to be on the right side of the inflation because you get to charge the price to your clients, but you're still having that safe form of consistent hourly work. And then as a digital marketer, you can create assets, develop digital assets, blogs, websites, channels, digital courses, communities, so many little things, different things, eBooks products.

[00:14:47] So many things you get to be the producer, the product owner, and you get to set the price based on the marketplace. As you see it, right? If things skyrocket in price, you can raise your price because I mean, if bread goes up to $10, a loaf. You know, I would assume people will recognize what that means, right?

[00:15:05] I'm not going to give you my course for two loaves of bread or whatever, you know, it's, it's gotta be related. So I think this was a good video to kind of come back and catch up on. I hope this makes you feel confident that you're choosing the right industry. If you need to make this happen. Now I strongly recommend you do take my program full stack marketing funnels after observing the students I've had for the last six months.

[00:15:32] And there's well over a hundred of them, very, serious or budding and ambitious marketers. they say the course is second to none. They say that this is the fastest way to learn digital marketing. I know I call my course full stack marketing funnels. But it really is a digital marketing training that is so foundational that I would be happy to give any of my agency team members and feel that they would be up to speed on what are the core elements of modern digital marketing, you know, lead magnets, copywriting, basic landing, page design, email automation.

[00:16:07] These are the things that we all need to know. And I hope people understand right now behind all of this, behind all the fear and the worry, how do I. Approach Ella, this is the hunt for the Holy grail. The Holy grail is whenever you get a profitable funnel, whenever you can run a Facebook ad or a YouTube ad or whatever, and you spend a hundred dollars and it leads you to two or three sales, which leads to a $300 as an example, you've hit the Holy grail.

[00:16:42] You could now put a thousand dollars in and you get $3,000. Maybe you could put $10,000 in and put 30,000 out. Now you probably can't put a hundred thousand in because what happens is at that amount, the quality of the lead and the sales conversion rate goes down. But you could still be maybe putting in a hundred thousand and getting out, you know, 119,000, maybe a little less, but still, it could be very scalable because what you have to understand is if a thousand people go through your funnel, And 10 people purchase 1%.

[00:17:17] It's very likely that the next 1000 people, different people, they're also going to have 10 people buy 1%. It's very common when we see that. So the Holy grail to me is this never ending search for me and my clients of what is the perfect campaign that leads us to a profitable funnel. Right? How do we build that?

[00:17:41] How do we reverse engineer that. That's what I'm thinking about all the time. And when I created full stack marketing funnels, I think in the back of my mind, I was helping people, take a process that was about seeking the Holy grail and you cannot seek the Holy grail without a funnel. a funnel isn't the only business model.

[00:18:02] But why wouldn't you use a business model that was scalable through Facebook ads, the world's best marketing and advertising platform right now. And that includes Instagram. Why wouldn't you? I just don't know why you wouldn't. So every business I create, I want to think about how can I attract people from Facebook and Instagram and YouTube?

[00:18:20] How can I send them to some web pages and give them a great onboarding experience of what my company is about? And what's my story and what do I have to offer? How can I make them an offer that is hard to refuse, has bonuses. It's heavy value. It's 10 times more valuable than the price. Excuse me. That is the Holy grail guys.

[00:18:41] That's the goal of what we're doing. That's what's available to us now, but the thing is you can't get started without playing this game. You can't really. Get into that upper echelon of society without something scalable. How are you going to scale a yoga studio in 2021, amidst all that's going on? How are you going to scale a retail shop?

[00:19:01] Like you need to go online. You need traffic sources that lead you to profitable acquisition. That's all that matters. If you can achieve that, the rest of your life will be. A millionaire lifestyle. I guarantee it. And even as you're getting close, you're going to start feeling it because the freedom you get, the confidence you get, this is all very real.

[00:19:21] And I just think it's so emerging right now that people are like, Oh, I don't even know what's going on. Like, I'm still looking about SEO. I'm still trying to figure out how to blog. Like, those are important that the Holy grail has arrived. So I encourage you. Check out my course, full stack marketing funnels.

[00:19:37] If you've already taken that you want to bolt on digital marketing consulting, essentially, which is my consulting program, which teaches you a nine step consulting process. I released that right before my wife gave birth. I don't, I don't think a lot of people know about that. I'll put that link below, go check out digital marketing consulting essentials.

[00:19:54]it's a pretty fantastic course. If you want to make money, just consulting on strategy, everything you need. So. Thanks guys for listening today. Thanks for catching up with me. Thanks for reinvigorating your competence. I hope that you did. I hope that you see you're on the right track, but please recognize it's a tough time right now.

[00:20:14] If there's any businesses that are closed like that has repercussions do not let the stock market convince you that we are in a abundant time relative to where we were six to 12 months ago. It's completely different. You've got to see what's changed. You've got to adapt. Do what's right for you. That's it for today's video guys, give this video a like, do you like this video?

[00:20:37] Give it a, like, why aren't you subscribed to the channel? Subscribe. Join us. Join the collective. Join Rich+Niche. Join the journey of becoming a digital marketer. Farewell guys. See you in the next video. Oh, it don't forget to leave a comment below. Are you ready for 2021? And what are you doing to shift?

[00:20:55] Adapt and get ready. For the new normal.

End of video transcript.

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