1. Marketing lessons from the 'Oracle of Omaha'
Learn how the concept of 'compounding' can help you to double your web traffic in a year with 2 blogs per month
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Today we look at what Warren Buffet can teach us about marketing…
I was chatting with Jordan a couple of months back and he casually mentioned the compounding effect of marketing.
As you’ll read below, this is a concept that the Oracle of Omaha himself would appreciate.
Like all good ideas I stumble across, I stole it and now pretend I thought of it. But here it is in its original form…
Double your web traffic in a year with 2 blogs per month
You’ve probably heard the magic penny concept, right?
In short, if you take a penny that doubles every day for 31 days, it accumulates over $10M.
Whilst magical pennies don’t actually exist, it stands to prove an important concept…
Compounding.
Now you’re probably familiar with compounding when talking about savings and investments, but compounding is something also extremely relevant to marketing.
Why?
Because consistent marketing compounds.
Let’s use content marketing as a quick example here…
Imagine that you write a blog for your website. Let’s say you promote this via email and social media, which gets you 100 views in the first month.
Over time (providing your content has been optimised correctly) this same post will continue to accumulate views from search engine traffic, social media, and elsewhere. Let’s say conservatively across a year you get an average of 10 additional views per month with some minimal promotion on social and some views from organic search.
Now imagine if you were adding 2 new pieces of content to your blog, every single month, which also accumulate an average of 100 views in month 1, and an average of 10 views, each, for the subsequent months. Over the course of a year, the content would begin to compound, adding hundreds of views to your blog every single month.
Don’t believe me? I made a spreadsheet to prove it.
See how twice monthly blogging can double your web traffic in 12 months.
The most important factor when creating this compounding effect is picking a frequency you can be consistent at. A bit like paying into a pension, for marketing to compound effectively it needs to happen at a recurring frequency.
So here are some of my quick-fire tips for improving consistency in your marketing:
Discipline > Motivation. It’s unlikely you’ll be motivated to create content each day/week/month. Very few people are. But if you are disciplined i.e. create systems and processes, add time blocks to your calendar, you’re likely to be much more consistent.
Pick a frequency that you can actually be consistent at. Sounds pretty obvious, but lots of people try to do too much too soon and end up stopping all together. Pick a frequency you can manage. If that’s 1x per month, for now, that’s awesome. You can always increase it from there.
“A good piece of content shared this week, is better than a perfect piece of content shared next week”. My take on an old quote about planning. The point is that sometimes it’s better to action things now when they’re good enough, instead of constantly chasing perfection.
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Until next time.
- Matt & Jordan