Where do Neil and Eric Spend Their Marketing Dollars? | Ep. #668 - a podcast by Eric Siu & Neil Patel

from 2018-05-30T10:00

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In episode #668, Eric and Neil break down their marketing dollars. Tune in to hear what the biggest marketing costs are and how you can avoid overspending.

TIME-STAMPED SHOW NOTES:

[00:27] Today’s Topic: Where do Neil and Eric Spend Their Marketing Dollars?
[00:51] Eric spends about $10,000-$15,000/month on blog content.
[01:12] Neil spends about $4,500/month on video content.
[01:24] Podcasting costs Eric and Neil $700/month each.
[01:40] They spend the same on video content.
[01:48] Eric’s team just starting ramping up/retargeting their ads and spent $3000-$4000.
[01:54] Neil spends most of his money on making and giving away free tools, which costs around $80,000/month.
[02:12] Building tools takes up a lot of time.
[02:20] Neil’s team found it is cheaper to buy out other companies than to spend money on marketing.
[02:50] Building free tools gets you organic traffic.
[03:02] If they were to add in salaries, that would only add an additional $25,000 to the mix.
[03:15] Neil’s numbers include salaries in his estimation.
[03:33] Editing blogs costs about $2000/month, but Neil doesn’t pay for translations.
[03:52] If you build up brand equity, you can get a lot of work for free.
[04:10] One strategy for people with a minimal amount of capital: find people to partner with. You will get stuff for free and both of you will gain a new audience.
[04:35] Guest posts are really helpful.
[05:28] That’s it for today!
[05:32] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

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