Can You Tell Us a Bit More About Your Business?
Rype is a global language learning platform where we have essentially disrupted the traditional language model which is language schools where you have to go and commute to language schools.
Instead, we connect you directly to teachers online allowing students to work with better teachers and taking up less of your time at a cheaper cost. We’ve essentially disrupted that model by connecting you directly with our teachers.
We’re also introducing the subscription model to the language learning industry that has never really existed before so we’re really excited to be helping connect the world through languages.
Which Daily Habits Have You Installed to Maximize Your Results With Clients?
I think, with entrepreneurship, as many of you guys listening, it definitely comes with its ups and downs. For me, just having a daily habit that’s keeping you at rhythm is important. It could literally be anything.
For me, I have a similar priming method that I’ve gotten from Tony Robbins – for anyone that’s a fan of Tony – where he primes himself for ten minutes from the moment he wakes up. It’s a little bit different in terms of the way he does it versus the way I do it. It has a specific set of patterns and I’m happy to share all of them with you.
I don’t want to bore you with the details but it starts with three things that I’m really grateful from – from anything as small as I’m currently here in Bucharest right now and it’s really just recognizing the small little moments because, I think, as entrepreneurs, we always think ahead. We never think of the present moments that we have. So, those are the three things. I start with the three things that I’m really grateful for and then I generally take a cold shower in the morning and I meditate for ten minutes.
It varies; sometimes, I’ll add small things here and there, but those are the three fundamental things that I do to really prime my mind. No matter how bad of a day it is or how much of a rollercoaster the day comes up with, I know at least I can prime myself so that my body and my mind feels as new and it feels like it’s the daily routines that I’m going through could help me withstand anything that comes my way for the rest of the day.
What Are Your Top 3 Pieces of Advice for Growth Marketing?
I guess the first one that I would look at is keep in mind that the three processes that I generally take is have one KPI in mind and make sure that it’s not a metric. Make sure it has some value towards your business.
For SaaS, it could be the number of actual signups. For eCommerce, it could be the actual revenue that you generate. Make sure it’s a KPI which is a key performance indicator – one number that you’re trying to improve.
If you have a growth hacking team especially, make sure that everybody around you understands what that KPI is because, when you have one person that is trying to optimize for traffic and one person that’s trying to optimize for revenue, those can be very different processes. One metric, keep everyone in the same company and the same team work that one metric.
Second is I generally look at most things as a funnel. I have processes where I literally write down every little step with a lot of arrows. I can’t really show you here right now since we’re on a video chat but everything really comes down to having a structure funnel of creating an on-flow experience.
It’s kind of like when someone goes into a Nike store, you want to make sure that they are going to specific steps. When they first come into the store, what are they looking at? How are they going to leave? You want to really have a step-by-step process of what experience a user goes through.
And then, the third step is generally don’t listen to the advice of others, especially around very specific advice, mainly because what happens and what has worked for someone else is not going to work for your specific business.
I personally made the mistake of listening to someone that is maybe an expert in eCommerce but is not going to give you the best specific advice on how to optimize your funnel, how to growth hack your SaaS business, or the business around your education because it’s a different model, it’s going to be a different funnel and you’re going to have different customer segments that are going to react completely different to what you’re doing. So, I would be very careful and really test out everything on your own and measure it yourself.
For me, I really tune out to all these gurus with advice unless it’s more high-level things that every marketer should do which is stuff that I’m recommending right now. When it comes to the nitty-gritty things in your business, really, test it out for yourself. Use tools like Optimizely.com, VisualOptimizer.com – I think I’m getting that right.
Do these A/B tests on your own – multi-variant tests – and decide based on data, not what other industry experts are saying.
How Important Are Lead Capture and Conversion Funnels?
It’s really the essence of a business, I think.
Again, it depends on what exactly is the experience that you’re trying to take towards your customers. For example, if you sell maybe a high-pricing product, you want to generally not sell them right away. You want to capture their emails and you want to be able to nurture them through an email marketing funnel or through a series of really valuable information that helps you become more trusted and helps you build some sort of loyalty that, in a month from now or three months or even a year from now, people will be willing to take out their hard-earned money and pay a thousand dollars for it.
Now, if you are running an eCommerce company, let’s say, and you sell products that are $10.00, $20.00, $30.00, that’s not going to really impact the wallets of a regular consumer, that might be a different case. You might just want to sell them right away.
Like, Amazon actually does the opposite where they ask you to create your account way later down the funnel rather than early on because they understand that most consumers, you don’t want to create a barrier for them. You want to make sure that you want to be able to do that last.
Some companies don’t even ask you to create an account. They ask you to continue as a guest but, obviously, they do ask you for your email. It really depends on the business that you’re running.
I would say, if you have a high-priced product, then set up an email marketing funnel and capture leads early on. If you have a very cheap product – $5.00, $10.00, $20.00 – then it may not be as necessary because a consumer does not overcome as big of a barrier or make a purchase product decision.
How Are You Growing Rype
We have multiple different ways that we’re growing Rype.
As many things that I do or try to do with my life and the way I make my personal decisions, I have one or two things that are really making a big impact in the business itself. I think a lot of marketers, a lot of entrepreneurs that are starting out try to optimize for way too many things. By “way too many,” I mean, four is way too many for a company that is one to five people because you just don’t have the resources to optimize all of these things.
While it is important to try out multiple things, the way I look at it is spend 80 percent of your time working on channels that work. For us, it’s content marketing – that’s Facebook ads. Those are really the two main drivers in the company. And then, spend 20 percent of your time trying to do little experiments like affiliate marketing possibly. It could be increasing referrals, it could be email marketing that are not as proven but could become part of your 80 percent later down the road.
You never want to take your eye off the ball of the things that are working and either have someone that’s really good at it that’s working on it or you have to be the one that’s continuing to grow and scaling that while being able to do these small little experiments as well.
For us, we’re trying to constantly figure out what’s the best way to scale through content marketing and continuing to grow our blog and sharing our journey of starting a company itself. We’re very transparent about that as much as possible. Facebook ads are working out really well for us. But then, at the same time, we’re starting to see results in little things through our experiments that may go into our 80 percent bucket. We’re constantly changing as data comes back to us.