Using Paid Media to Grow Your Owned Media | The Journey

ABOUT THIS EPISODE

James and Dan provide behind-the-scenes documentation of the journey to turn B2B Growth into every B2B marketers’ favorite media property. Today's discussion: When gated content can be useful and how we are using it. 

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Conversations from the front lines of marketing. This is B two B Growth. Welcome back to the journey here on B two B Growth where we're documenting our journey of turning this show into every BDB marketers favorite show and how you can do the same. So today we are talking about using paid media to grow your owned media, and this is something we have recently unlocked with B TWOB growth. If you've been listening to the show for a while, you you heard Hiss mentioned a few weeks ago we became the number one marketing podcast in the US because we started doing paid acquisition. Dan talk to us a little bit about about what we've been doing here. We've been using programmatic ads to the hyper target people on iPhone devices and sending them straight to Apple, the...

Apple podcast app. What the call to action to follow us on Apple podcasts, and we can drive them now in such a way where we know we can like essentially guarantee a short amount of followers, and of course you get some followers and people some percentage of them unsubscribed, like almost immediately because they subscribe, listen to an episode or two and then they're like it's not for me, and they back out, but it's still like a fantastic way to grow the show is not only is a generate more followers, but it generates downloads. And then the benefit of generating a lot of followers and downloads in a very short amount of time is it boost you up in the rankings like no other apps Like I've never seen a boost in the rankings like this from just driving the types of behaviors that Apple wants to see to drive you up at the rankings. But I think the lasting impact of the seeing the increased downloads well after the campaign, see the lift of like more downloads for our show is so good that I'm like, oh my gosh, why have we...

...not been doing this for a long time. I'm like, even, I'm thinking of my past experiences in different companies now and I'm like, oh, I wish I like if I could go back and tell past self, Hey, past self, set aside ten to fiftent of your budget just to grow an audience, newsletter, YouTube, channel, podcast doesn't matter. Spend ten to fift of your budget because that becomes a growing asset that then makes you less dependent on that paid media. Because I remember I was dependent on paid media almost alone to grow my past companies. We were good at paid media. We understood Facebook ads, we understood Google ads, YouTube ads. We worked it and it was great, but it was always we always needed more, right because as soon as you hit your targets, well, they they expectations change and you're just like, dang, well and I need more budget. And then of course you start losing efficiencies at some point, right. But I wish I would have just started, even from the very beginning, just setting aside ten to fift of the budgets that I became slowly over time...

...less and less dependent on paid media to hit my my my targets yeah um, and have my own owned audience that I can have for a long time prevent I was making good content for them. A lot of the questions I've obviously been an evangelist about this kind of programmatic advertising approach with you know, folks that are that are close to me, and and I was talking with a buddy of mine about it, who just did it for his company, and we were talking about at lunch, and and some of the one of the big questions that I get is like does the audience stick? Because it's easy to think like, okay, like you're you're doing this, it feels a little hacky. Are you just having like a farm of people overseas somewhere like tap, you know, smash subscribe and then they're unsubscribing or maybe they're just staying subscribe that they're not really downloading any episodes. That has not been our experience with with PDP growth. One. That the targeting, it's really specific targeting for the programmatic ad. By so you're targeting people that have an interest of you know, account based marketing content or content B TWOB decision makers.

Right, you can narrow it down that far. BOB marketing decision makers is a category you can target and programmatic ads B two B growth will be right back B two B decision makers. Right, you can narrow it down that far. BB marketing decision makers as a category you can target and programmatic ads yea, and so so by by focusing your programmatic ads on that and then the call that action just being hey follow this show. Obviously a programmatic ad to say hey, follow this show, check out this podcast. It's going to be far more effective than hey, buy my hundred thousand dollar products, so much better and so so it makes sense that it converts, and then it's going directly to Apple podcasts, and you're only we're only running these ads to people that have iOS devices, so Apple podcast comes on the iPhone. So there's a lot of layers to this that make it work. One...

...thing you know that we were talking through because we're talking to a prospective client and this audience growth piece came up and and as you and I were talking yesterday, there is a bit of a downside to this that that you figured out, Like between you know, we're maintaining right now from the last campaign we ran. We've still got eighty percent, so and I don't know, it's been about a month and of the new followers that we grew are still with us. Can you walk us through a little bit though, Like because you did a lot of math in the spreadsheet yesterday and I was like, oh man, I'm glad dance on this team because I would have never done this. But you figured out that, Okay, there clums a point where paid can only get you so far. Can you talk a little bit about that. Paid is fun because of how flexible it is and how you can target and test and do different things. But Eventually you are going to run into diminishing returns and building an audience with paid especially if it's fairly static. The results you get like we're programmatic ads. We know we can acquire Apple Podcasts follower for five dollars five dollars a follower. That's great. The problem...

...is over time you just see less returns on that growth. In the beginning, it's fantastic, especially if you're starting from zero, right you you get all these new followers, you have all these new downloads. But every single month you do this, the percentage of growth is different. It's not exponential. It's a static amount of growth. And so let's say eight hundred people stick you got a thousand, eight hundred of them stay around, okay, and then of course there's going to be churned working against you because naturally they hundred that stick around aren't going to stick around forever it's a percent of them, or you're gonna lose every single month turn. It's going to happen eventually if you drag this out far enough, like at first, what becomes a like the next month will be like a growth. I did the math and Excelsion dragged it on for multiple months, Like towards the end of after a year, you end up with like a each month is only netting you like three two percent growth, and then it becomes less and less and less because it's a static amount that you're adding and turns working against you at some point,...

...so you end up with these like interesting plateaus and growth. But dang, Like at the end of one year of average just to programmatic ads, if you're dropping five grand a month, you end up with like thirty seven thousand downloads a month, which is so much more than any most almost every BDB podcast out there. Like if we were doing this for our customers already, which is why we're talking to our customers about this now, like they would be at such a different place because that's that's a lot of that's a lot of influence for one podcast, and it's just paying your way to get there. Of course, there's that plateau, but at that point you hopefully have kick started enough and we're starting to figure out now, like what are some organic ways you can introduce early on so that that plateau doesn't happen. You can start the leverage the organic results of getting this attention, and provided you're making good content that they stick. Right, how else can we leverage other platforms other than paid in order to keep that growth going instead of hitting the plateau? And of course we all know this, like if you've done performance ad, you know there's always a plateau, even in the customer acquisition, there's always a plateau and how far one channel can go right unless you...

...hit like an early wave of something like TikTok when it first started, or when BuzzFeed figured out how to really hack shares, right, and they had these like really crazy curves as far as how far there their blog posts would go. Even that was short lived because shares became less powerful on social media over time, right, and now they had to figure out something else, and they're not nearly as big as they used to be BuzzFeed, But there's always these these opportunities to do these things. Um and I think paid is just way undervalued for growing a media property only because the click through rates are two to three times as good because you're not asking them for a big ask, you're asking for a very small ask. Subscribe to the check out this newsletter, check out this blog post, check out this podcast, Subscribe to ask is much a much easier thing, and for these big like decision makers, like, yes, you didn't get them to jump on a demo, but now you have their ear right and you can acquire them for three times lass on your own media than just getting them to go the demo, and...

...you can actually build trust and affinity so that when you do throw maybe our right hook, and they're, like Gary V says, you know, for your product, you'll probably get a pretty good percentage of them going over and they're probably gonna go through this the sales pipeline much faster because they trust you. Now. I hear Alex are mostly talking about this, and Gary's kind of the same sentiment as Gary. But but Alex always says, you know, the longer your time horizon is for needing to throw that right hook, the more effective the right hook is going to be. And so when you're playing a long game and you're like, hey, we're building a media property here, like this is something that in ten years is going to be worth tens of millions of dollars and we're going to own it. When you're playing that game and you're not constrained or handcuffed to short term revenue targets, man the leverage that you can create for your business. I mean, it just it gets pretty wild to think about. But a lot of people don't don't have that. And for you know, if if you're a VP of marketing and you're sitting under leadership that is pressing you on these, you know,...

...short term revenue targets, you might not have the luxury to do what we're doing with GDP growth. You might have to do more, you know, really lean on heavy performance marketing knowing that it's going to come to an end, just like this type of stuff comes to the event eventually, it doesn't move the needle in nearly as much. But you know, that's what I'm so excited about in our situation, is really getting to play the long game with this and unlocking this channel of programmatic Sure it might only move the needle for us in a significant way for the next twelve months, but it's not something that we have been doing before, and so I want to capture that attention through that channel while we still can, and hopefully do it for our clients as well. So, Dan, this has been, as always, fantastic conversation, and so that's that's gonna be it. We're wrapping up for today's episode of the journey. Remember there are a lot of ways to win. Commodity content is the enemy. Focus on affinity over or awareness. You...

...can find all things top growth at BB Growth show dot com and connect with each of us over on LinkedIn. Dan Sanchez, I'm James Carberry. We're out B two B Growth is brought to you by the team at sweet Fish Media. Here at sweet Fish we produced podcasts for some of the most innovative brands in the world, and we help them turn those podcasts into micro videos, LinkedIn content, blog posts, and more. We're on a mission to produce every leader's favorite show. Want more information, visit sweet Fish Media dot com.

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