Scrolling through social media feeds feels like it has become second nature, but the subtle marketing and ad pop-ups filtered across your page are far from routine.
Facebook advertising guru and CEO of BlitzMetrics Dennis Yu spent Feb. 3-4 on Oklahoma Christian University’s campus, sharing his story and giving advice to students with entrepreneurial intentions. Yu has partnered with big-name companies like Nike, the Golden State Warriors and Ashley Furniture, boosting their social media presence and sales.
In a lecture with business and communication students, Yu discussed contentment, digital marketing success stories, selling competency and how to decipher one’s annual wages to meet their desired lifestyle. Here are some highlights from his lecture:
Rule of 2,000
How much money do you need to make per month for you to feel OK? Enough to pay your rent? How much do you need to make for you to feel comfortable? $3,000 or $4,000 a month? What are ways we can get jobs where you can do that? The rule of 2,000 is a great tool. If you assume 40 hours per week, multiplied by 50 weeks, two weeks of vacation, that is 2,000—these are the work hours in the year. So, let’s say you’re making $20 an hour, that’s $40,000 a year. Divide that by 12 and that’s what you need to make in a month—that meets your goal.
My first job was at American Airlines. I made $36,500 a year—that was my salary. The first time I made $100,000 in a year, I thought I was going to be rich. That sounds like a lot of money to a student, and then you hit that and realize, that’s not that much money at all. Then you think, I just need to get to a million dollars, so once I make a million, I’ll be set. Then you realize, that’s not much money at all either because the people you associate with are making more. Now you feel poor. Wherever you are, you are always going to feel like you’re right in the middle of income with everyone else.
Colin Erwin’s Redline Steel utilizes Facebook Advertising
You want to know how easy digital marketing is? In 2019, [Colin Erwin] spent $10 million on advertising. This is a guy who was in the military as a soldier, got injured in the line of duty, full disabled veteran. Then he became a bodybuilder because he wanted to show the doctors that he not only would walk again but become an athlete. He started an e-commerce business, Redline Steel, doing furnishing just off of Facebook ads and Facebook Live. How much knowledge do you think he has coming in on Facebook ads? Almost nothing. How much does he know now? He still does these ads himself. How much experience did he need? Not that much—he admits to learning most of it by watching YouTube videos. How is he able to be so successful? How can you get good enough to drive sales for other people and charge them for it? Digital marketing is something anyone can do.
Sell Competency
If you are working in a performance model where you’re trying to drive sales for a business—where should your focus be? On the numbers. You focus on your competence. You are good at what you do. Let’s say [Professor Watson] came to me and said [he needed surgery done], and I asked him what are other doctors charging? $100,000? That surgery, with a known, reputable doctor—I’ll do it for half the price. Would you choose a worse doctor on a critical operation if it was for half the price? Why not? Because competency is what matters. We are in a world where everything is measurable. You can measure the sales, how much money they are making, all of these things. If you can give a company a boosted 10% in sales because of your competency, how much do you think you can charge?
0
0
Be First to Comment