Transcript
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Welcome to the Jason Moss Show, where established online business owners go to increase their income, freedom and impact.
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I'm your host, jason Moss.
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Let's dive in.
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So here's the truth.
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There is one question that keeps almost every online business owner I know up at night.
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It's a question that most online business owners spend the majority of their time thinking about, reflecting on, trying to figure out how to solve in their business.
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What is that question?
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How do I get more leads?
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Maybe you've asked yourself this question.
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You probably have if you've been running your business for a while.
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The truth is, there's so much information out there when it comes to figuring out how to grow your business, how to increase your lead flow, how to get more clients and sales through the work that you do, and yet, if you break it down and you look at it on a foundational level, there's really only three sources of traffic that you can tap into in order to increase the leads coming into your business.
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And once you know what these are, it will make the journey of growing your business so much simpler, it will cut away all of the confusion and it will give you a clear path forward, so you know exactly what you need to be focused on moving forward in order to increase your income, to make more money, to sign more clients, to sell more stuff online.
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Whatever it is that you do, that is what we're going to talk about today, super excited to share this with you, and one of the reasons I'm so excited about this is because, when I look back over my own journey in entrepreneurship, when I really started getting into online marketing back in 2016, my first real official online business I was running a business for musicians, teaching other musicians how to record and mix their own music online.
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I have a background in music.
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I studied audio engineering in college and so I came out of that program and I started helping other people make records and I was like I need to teach this.
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There are other people out there that could learn from this.
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So I started this business online, trying to teach the things that I learned to other people, and in the early days of that journey, I remember spending so much time watching YouTube videos, listening to podcasts, going out and reading blogs, trying to figure out how to market myself, and all I saw were tactics.
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You could do a Facebook group, you could do ads, you could do a YouTube channel.
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You could do so many different things and it was overwhelming, and I remember trying so many different things and bouncing from tactic to tactic, like so many of the entrepreneurs that I work with.
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It's like they come to me and it's like we got like the spaghetti method going on.
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My mentor, scott Oldford, calls it the spaghetti method.
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I love this phrase.
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It's like you're throwing a million different things against the wall, trying to figure out what sticks, and maybe nothing's really working, or maybe you're not even sure what's working, or maybe you just don't entirely know what.
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You should be throwing up against the wall in the first place.
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And these three sources of traffic that I'm going to share with you today.
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Once you understand what these are, it makes it so much simpler, so you don't have to do this.
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You can say, okay, now I know what to focus on.
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And instead of focusing on the tactics all day which is, I think, where most online entrepreneurs spend the majority of their time focused on and thinking about what's the next shiny tactic, what's the next you know AI crazy tool that I'm going to use to grow my business?
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What's the new shiny thing that's going to be here this week and gone the next week?
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If there's anything I've learned through 18 plus years of building businesses, it's that the tactics come and go, but the principles stay the same, and once you can understand those principles, you can succeed with almost any tactic out there, and that's why I'm excited again to share this with you today, because we're gonna be talking about those principles.
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I wanna share with you three sources of traffic that you can tap into, regardless of what kind of business you're running.
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That will make the journey of increasing your lead flow a million times easier.
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Now this is a small piece of my three-day marketing workshop, which, if you're looking for clarity on how to dial in your marketing, if you're looking for an action plan, if you're looking for clarity on what your right next steps are to grow your business online, this marketing workshop is hands down.
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Other than our high-level programs, this is, hands down, the best workshop that I've ever put together in my entire life on marketing.
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It's just there's so much value in there.
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It literally drives me crazy, because people are going to listen to this and some people are going to buy it and some people won't, and if you don't, you literally be missing out on like the best thing ever.
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You can get it on my website right now.
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You go to jasonmosscom.
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There's a link that says workshop at the top of the page.
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Go, check that out.
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You can buy it.
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You can go through the recordings today.
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You get instant access.
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There's just so much value in there, and what we're going to be talking about today is really just a small piece of what I covered over those three days of deep dive training inside that workshop.
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So, with that being said, let's go ahead and dive in.
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So three sources of traffic you can use to grow your business.
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I used to think there were millions.
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I used to think there were so many different ways that you could grow your business, get more leads, but the truth is there's really only three and this is relevant for you regardless of what kind of business you're running, regardless of what your niche is Only three sources of traffic.
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The first is buy, the second is borrow and the third is create.
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I'll say that again Buy, borrow and create.
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These are the only three ways you can get more leads in your business, again, regardless of what business you're running.
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So in our episode today, I want to break these down in detail buy, borrow and create and I want to show you what each of these are how you can use them, how I've been able to leverage them in my business, and also some of the pros and cons to each of them.
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It's not that there is one that is right for everyone or there is one that is better than all the rest.
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The best businesses out there use all of these and tap into all these, and I've experimented with all of these over the course of my journey.
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So let's talk about these in detail.
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The first is buy.
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Essentially, what this is is when you go out there and you take your money and you trade it for attention and you convert that attention into leads.
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As an example, maybe one year into my journey as a business coach, I was making like 10K a month doing pretty well, and the way that I was making 10K a month was primarily doing organic marketing.
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So I was going out there on Facebook, I was actually adding people as friends, I was DMing them, doing a lot of outreach, and that got me to around 5K a month 10K a month give or take, depending on the month and I remember having a conversation with my mentor one day and he was like you know, jason, I think this would be a really good time for paid traffic for you.
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You got clarity on your niche, you got something that people are buying.
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You got some cash to be able to invest.
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Why don't you go out there and set up meta ads?
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I was like, okay, well, I initially actually had some resistance because I hadn't run ads.
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Well, that's not entirely true.
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I spent some time running an Amazon private label business.
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I was selling first aid kits on Amazon.
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By the way, this was another wing of my entrepreneurial journey.
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I don't talk too much about this.
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It was a lot of fun.
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There's some crazy stories there.
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I'll get into that in some other episode.
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But I'd run some sponsored traffic there and experimented with some things there.
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But the truth is I didn't have a lot of experience running paid traffic.
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But, off the strength of my mentor's recommendation, I was like, okay, you know, let me go out and do this.
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So I learned how to run ads and essentially, I created a system in my business so that I could put a dollar in and get lead flow coming into my business as a result.
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So every single day in our business today, we spend like close to $20,000 a month on paid traffic.
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It's been an awesome source of lead flow for us and essentially what the buy strategy is, is you going out there and you trade your money for attention.
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You can convert into either audience you know through.
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For example, like our ads, we have lead magnets, like chances are, you're probably here because at some point you were on Facebook and you clicked an ad of mine that was like here's a free guide to grow your online business, or here's a nail, your niche guide.
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Or here's a messaging guy or something like that that we put together and you put in your email address and you got that guide.
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And now you're on my email list and you're like oh, this guy has a podcast and now you're listening to this.
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And then maybe at some point if you haven't already you'll buy something.
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That is an example of buy, of essentially using your money and trading that money for attention, audience growth Later on, the goal being you convert that into cash enough cash to cover what you invested into the ads and then go and repeat this whole process again and it becomes this virtuous upward spiral.
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If you're doing it well, so paid traffic by.
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You know this strategy is often talked about like it's like the holy grail, and you'll see a lot of very successful online business owners, particularly folks who are scaling.
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I mean, this strategy took me from making 10K a month to like 60K a month, so it like six X star business over the course of like six months.
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It was not like a crazy amount of time that it took to do this.
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So the amazing thing about this source of traffic is that there's a lot of scale and a lot of potential for leverage as well, because when you're no longer trading your time for attention, we all have like 24 hours in a day.
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Right, we don't have a ton of time.
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We all have the same amount of time, so you can only do so much with your time.
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Sure, you can create more content, you can get better and more efficient at what you're doing.
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You can maybe even hire people to help you, and that can be a great way to create more leverage in a business.
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But when you're talking about trading your money for attention, you can theoretically make an unlimited amount of money if you structure your business in the right way.
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So you've decoupled your time from the business by doing this, by investing in this source of traffic, which means you have, again, theoretically infinite or near infinite growth.
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It's a great way to scale and grow a business.
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You're not trading your time, which we only have a finite amount of Super powerful.
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That's one big pro.
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The other thing I really like about buying traffic is that it's consistent.
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I can go every day and we do this every day in our business.
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We basically have a budget and it's like okay, 500 bucks a day or whatever it is we're going to spend acquiring new leads in our business and I pretty much know down to the dollar what our cost per lead is.
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So I can say with a high degree of accuracy if I spend $500, I'm going to get this number of leads coming into my business every single day.
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So it creates this consistency and predictability in terms of lead flow in your business.
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It's a huge pro.
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What's the cons?
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I think there are a lot of them.
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The first thing is that you really got to have the foundations in your business dialed in for this to work.
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A lot of people I see a lot of people come to me after investing thousands of dollars into paid traffic.
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They're like ads don't work.
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I'm like, no, not exactly.
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Ads do work.
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But I look at their strategy and how they were doing it and they generally oftentimes are missing a lot of the foundations in their business.
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They don't know who their niche is, or they're not entirely sure on their messaging, or they don't have an offer that people are really going to buy, or they don't have the back end dialed in in their business.
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So they're focused so much on feeding new leads into the top of their business, but they don't have a great back end in place to be able to convert those leads into sales calls or clients or customers, clients or customers.
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It's really important, when you're using this form of traffic, that you've got the foundations in place in your business, because meta will gladly take your money Any of these ad platforms, google will gladly take your money but that doesn't necessarily mean you're going to get results.
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So you can go out there right now and you spend thousands of dollars today on ads, but that doesn't mean that you're actually going to be able to convert that traffic into enough cash to be able to cover those ads.
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So this is something that is really important.
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You got to have those foundations in place before you do this.
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A lot of people miss this and they think ads don't work.
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No, ads absolutely work, but we got to make sure these things are in place first.
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The other thing is the obvious one that in this type of a model, when you're using this form of traffic, you are paying for attention, so oftentimes this means that your margins are going to be lower If you're depending on a lot of paid traffic in your business.
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Full transparency.
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One of the reasons why we're starting this podcast and this YouTube channel is because when I look back over the last few years of my business, I've gotten a little bit lazy because it's so easy to just pour more money into paid traffic and that's been the primary source of our lead flow over the last few years.
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But the downside to that is that you might have a lot of top line revenue, but generally you might be spending like in our business we spend like a third of our actual revenue on ads.
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That's a lot of money on ads.
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That's a lot of money and at this point in my business I'm like I don't want to continue to do that Now.
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It's been great for us in terms of growth, but ideally we want to diversify and we don't want to have all of our eggs in one basket basically, and when I look at my business today, that's kind of been the case.
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The other thing is I see a lot of people doing this with paid traffic is they end up having all their eggs in Meta, for example, and they're not developing any other assets in their business or any other form of traffic in their business, and then one day they wake up in the morning and they get an email from Meta hey, your account got suspended because we flagged too many of your ads.
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I had this happen to me, by the way.
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We were running ads on YouTube last year, and I woke up one day.
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I was just like doing my normal morning, and I opened up my inbox and I got an email from YouTube hey, your account's suspended.
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Can't begin to tell you what that felt like and many people have experienced this too.
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It was like my heart sank.
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Luckily, though, I didn't have all my eggs in one basket.
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I had stuff going on meta.
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We had a YouTube channel that was growing.
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We had some organic stuff happening too, so my business didn't dry up overnight.
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Now I was able to get that account back, but it took almost a month, and a lot of people don't.
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So ideally, when it comes to all of these sources of traffic, you don't want to be heavily dependent on any one thing.
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It's okay if you're just starting out in your business.
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You know, get one thing working before you add more.
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But when I'm helping entrepreneurs grow and scale their businesses, we're looking at diversity because I want to minimize risk.
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I want to make sure that if one pillar goes down, the whole business doesn't go down with it.
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So some pros and cons to buying traffic and this really is the first source of traffic that you can tap into in your business.
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Generally I recommend it for entrepreneurs who already have a foundation established in their business.
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They have at least $5,000 to invest in paid traffic traffic Everything that we teach in terms of paid traffic and we help people do this inside my high-level programs at Accelerator.
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We have a whole literally like a whole course we include inside Accelerator when you sign up.
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It's called Limitless Lead.
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That walks through step-by-step exactly how to set up paid traffic in your business.
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And the approach that I take around paid traffic is very much about investing for audience for the long term, which means you might pay a dollar into paid traffic.
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You might not see that dollar convert into a client for six months and that's okay with me because I take a very long-term perspective with almost everything that I do in terms of marketing.
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But if you're in the position where you got, you know, 500 bucks in the bank and you know you need to make a return on that initial $500 right away, you're just not in the position to be able to do paid traffic.
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So you need enough financial stability underneath you.
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The business needs to be in a place where you've got the foundations.
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You know your niche, you know your offer, you've got people who are buying something.
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Ideally, you've had success with organic already.
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These are usually the moments in time where I will recommend someone integrate buying traffic into their business.
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Super powerful strategy for the right person at the right time.
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But it can also cause a lot of problems if you integrate it too early.
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Hey, friend, hope you're enjoying this episode of the podcast.
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And, before we get back to it, if you're an established online business owner who's serious about unlocking your next level of income and impact and growth in your business, I want you to watch my free million-dollar online business training where I walk through a four-step roadmap.
00:18:24.096 --> 00:18:29.914
I've personally used to sell well over a million dollars of coaching, consulting and courses online.
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It's going to make the journey of growing your business so much easier.
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I want to give this to you for free.
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All you got to do to access it is go to jasonmosscom forward slash growth.
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That's jasonmosscom forward slash G-R-O-W-T-H to get free access to this training right now.
00:18:48.291 --> 00:18:49.595
Now back to the episode.
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So that is our first source of traffic buy.
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The second source is borrow.
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Borrowing is really simple, so I'll tell you a story to illustrate this.
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When I was maybe two, three years into my first real official online business, I would say, which was when I started in 2016, this business Helping Musicians I had a good friend of mine.
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His name was Rob and he was running a very similar business as me.
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We were both helping musicians and one day he reached out to me via email and he said hey, jason, I'm going to put together this summit and I'm going to invite all of the leading music educators in our space and everyone's going to come together and we're all going to do an interview, and everyone's going to send out an email or two to their audience, and we're all going to come together and we're going to do this summit, and it's going to be a great way to basically cross-pollinate, to make it so everyone's audiences can be introduced to each other and you can get in front of a lot of new people through this experience.
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Would you like to be a part of this?
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And I said, of course that sounds awesome.
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So he interviewed me and I sent out a couple of emails to my list and we did this big thing.
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I forget how many people signed up for it, but I remember I had like maybe like three, 400 leads or something that had opted into my email list off the back of that event and it ended up generating me at that period of time.
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I think it was like close to $15,000, which you know I was doing like 8k a month or something, so that was a lot of money at that stage of my business.
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I look back, I was like that was a good investment of time based on where I was at.
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And this is a perfect example of the borrow strategy, of the second source of traffic we're going to talk about today, which is basically you getting in front of other people's audiences and creating a bridge back into your world where your people are already congregated together.
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You're not trying to create that from scratch.
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There's so many people out there who have already built audiences in your niche If you can get in front of them and create some kind of experience that essentially forms a bridge to bring people back into your world, be an awesome way to grow your audience, get more leads and ultimately sign more clients through the work that you do.
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This is a super powerful form of traffic and a lot of people don't take advantage of this.
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I think the pros are it's a really fast way to get traction, because if you can get in front of a large audience of people in your niche, you can make things happen really quickly.
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You can get in front of like 10,000 people at once, versus if you're doing organic marketing, you're creating a bunch of content.
00:21:47.817 --> 00:21:50.483
That's also good, but it's just it's slow.
00:21:50.483 --> 00:22:04.240
Or if you're reaching out to people one-to-one, you're doing outreach slow, not to say those strategies aren't effective, but partnership traffic can be like pouring rocket fuel In a very short period of time.
00:22:04.279 --> 00:22:19.923
You can get a big quick spike or burst of traffic through doing a podcast interview or through participating as part of a conference or a summit or something where you're essentially getting in front of lots of people in someone else's audience at once.
00:22:19.923 --> 00:22:21.865
This is one of the things that's great about it.
00:22:21.865 --> 00:22:34.607
It also is a great way of really skimming like the cream off the top of like the highest quality people in somebody else's audience.
00:22:34.607 --> 00:22:39.817
So you already get people who are generally more qualified.
00:22:39.817 --> 00:23:14.785
They're more trusting as well, because when you get on somebody else's podcast, as an example, interviewing you, and the person saying, hey, this person really knows what they're doing, the people who are going to come into your audience through something like that are automatically going to trust you more, versus if you just reach out to some random person cold on Facebook.
00:23:14.785 --> 00:23:17.355
That person has no idea who you are.
00:23:17.355 --> 00:23:18.499
There's no trust that's built.
00:23:18.499 --> 00:23:20.564
It's going to take more time, for that person has no idea who you are.
00:23:20.564 --> 00:23:21.184
There's no trust that's built.
00:23:21.184 --> 00:23:22.469
It's going to take more time for that person to warm up to you.
00:23:22.469 --> 00:23:36.978
This is one of the reasons why, looking back to that experience that I had with the summit that I did with my friend rob, we were able to generate a good amount of sales off the back end pretty quickly because those people were the best people from everyone else's audience.
00:23:36.978 --> 00:23:47.788
They were the people who were opening the emails and opting in and clicking, not just the random subscribers who hadn't opened anything in a month or two.
00:23:47.788 --> 00:23:58.845
These were the people who were engaged and I had an opportunity through that experience to show up and position myself as an authority in that space.
00:23:58.845 --> 00:24:09.259
So these are the other reasons.
00:24:09.278 --> 00:24:23.577
I think using this form of traffic is great Because it speeds the whole process up of someone getting to know you, getting to like you, getting to trust you.
00:24:23.577 --> 00:24:26.364
But there are some cons to this form of traffic as well.
00:24:26.364 --> 00:24:31.977
The biggest con, I think, is generally it takes some credibility or leverage for you to even get in front of these audiences in the first place.
00:24:31.977 --> 00:24:47.641
If I just started reaching out to random people on the internet who have podcasts and platforms and I don't really have any platform of my own, I don't really have anything to offer those people then why would they put me on the podcast?
00:24:47.641 --> 00:24:59.445
The best time, I think, to integrate this strategy in this form of traffic into your business is when you already have an established platform.
00:24:59.467 --> 00:25:02.914
In this form of traffic into your business is when you already have an established platform.
00:25:02.914 --> 00:25:10.090
You've already been able to create something of your own, and then you can go to another podcast and you can say, hey, we've got this email list of 10,000 subscribers.
00:25:10.090 --> 00:25:12.397
We have a lot of commonalities between our niches.
00:25:12.397 --> 00:25:16.517
I think there's a lot of people in my audience who would really love to hear more about what you're doing.
00:25:16.517 --> 00:25:19.823
I'd love to be able to introduce people in my audience to you.
00:25:19.823 --> 00:25:22.247
How do you feel about me hopping on a podcast?
00:25:22.247 --> 00:25:25.301
We could do a quick episode and I'll send it out to my email list.
00:25:25.301 --> 00:25:31.481
Afterwards we can drive a bunch of traffic back to you Because, remember, they're playing the same game that you are.
00:25:31.481 --> 00:25:33.567
They want to grow their audiences too.
00:25:33.567 --> 00:25:53.817
So when you can come to established partners, platforms, places where people are congregated together and actually add value in those spaces, that is when you're much more likely to create success using this form of traffic.
00:25:54.719 --> 00:26:06.221
The other con that I find to this form of traffic, the borrow form of traffic, is that it creates short-term spikes in traffic.
00:26:06.221 --> 00:26:08.625
So you do a podcast.
00:26:08.625 --> 00:26:21.119
You might get a bunch of people right when the podcast comes out who opt in or who follow you online or who reach out to you, but then a couple weeks after the podcast airs, it's like it doesn't even exist.
00:26:21.119 --> 00:26:29.503
You might still get like a little trickle down the line, but generally if you look at people who are using this form of traffic as the primary source of traffic in their business.
00:26:29.503 --> 00:26:34.220
It tends to create a lot of inconsistency up and down.
00:26:34.220 --> 00:26:47.944
Up and down it's like they do the event, then there's a big spike and then suddenly it's like they do the event, then there's a big spike and then suddenly it's like everything's dried up and they're like scrambling to the next one.
00:26:47.944 --> 00:26:50.271
So I find usually this is a form of traffic you want to pair with something else on this list.
00:26:50.291 --> 00:27:24.421
We don't want to just rely on this independently, but it's a great thing to layer on top of everything else that you're doing and it can be a great way of also supercharging your own authority and brand, because when you can get on other people's podcasts or in front of other people's audiences and you can also just take those clips from those and share them with your current audience, and people are like oh, this person's on a bunch of podcasts, like seems like they're an expert, so there's some crossover benefits and ways that actually that can help position you and more authority in your current audience as well.
00:27:24.421 --> 00:27:38.571
All this being said, pros and cons to this way of building your audience and it's not that this is something that you shouldn't do, it's just something to be aware of, that you shouldn't do is just something to be aware of.
00:27:38.571 --> 00:27:40.373
So we got three forms of traffic right.
00:27:40.373 --> 00:27:46.978
We've got buy, which we talked about.
00:27:46.978 --> 00:27:48.099
We've got borrow, which we talked about.
00:27:48.099 --> 00:27:50.103
What's the third source of traffic?
00:27:50.103 --> 00:27:51.905
This is create, create.
00:27:51.905 --> 00:27:52.467
What is create?
00:27:52.467 --> 00:27:56.057
Well, I'll tell you another story to illustrate this.
00:27:57.480 --> 00:28:09.327
So when I was first starting my coaching business back in 2016, helping other musicians, I thought about what I wanted to do to market myself online.
00:28:09.327 --> 00:28:11.699
And initially I started by writing a blog.
00:28:11.699 --> 00:28:24.304
So I was creating lots of content on my blog and just writing posts, and I was posting those posts in Facebook groups which is a borrow strategy, by the way, getting in front of other people's audiences.
00:28:24.304 --> 00:28:29.026
But I was also optimizing those posts on my website so that they would show up in Google search.
00:28:29.026 --> 00:28:42.325
And then, later on, I thought, you know, there's probably a lot of musicians who are looking to record their music and mix their own music, who are on YouTube searching for tips to help them produce music and mix music.
00:28:42.325 --> 00:28:50.916
And you know, I looked at the people in my niche who were doing really well and I saw all of them had YouTube channels and I was like, okay, well, let me start a YouTube channel.
00:28:52.097 --> 00:29:14.201
So every week for years I published at least one video on this YouTube channel, and every single one of these videos was focused on tips and tricks to help people in my niche learn how to record their own music, how to mix it, how to basically make it sound like the records that they heard on the radio.
00:29:14.201 --> 00:29:30.296
And through publishing a video every single week, I built that YouTube channel from zero to 70,000 subscribers, and in every single video I also had a pitch to one of the lead magnets that I had created.