In today’s conversation, I’m talking with my friend and special guest Nicholas Kusmich. Nic is best known as the world’s leading Facebook advertising strategist and for delivering the highest ROIs in the industry (at his peak, upwards of 30,000%). He’s also the author of Give: The Ultimate Guide To Using Facebook Advertising to Generate More Leads, More Clients, and Massive ROI and has worked with A-List clients like Tony Robbins & Joe Polish, as well as New York Times best-selling authors, and a number of Inc. 500 companies.
Today, he’s going to break down a simple Facebook advertising strategy that all you financial advisors can use to go after prospects with laser focus. Nic will help you shine the light on the top 4% of prospects that result in 80% of your revenue!
Here are a just a handful of the things that you’ll learn:
- Find out what makes Facebook the most powerful direct response marketing platform on the planet and how financial advisors can utilize it to zero in on their most ideal prospects.
- Does Facebook marketing outperform traditional marketing? Nic shares a story where he went head-to-head with one of the greatest ad copywriter’s in the world to illustrate the power of advertising on Facebook.
- Nic outlines a 4-part lead generation framework that financial advisors can use to identify top tier prospects who will be busting down the doors to attend your next seminar and/or workshop!
- How to efficiently create content that absolutely crushes it!—Don’t miss the story about the 2 page PDF that got downloaded more than 80,000 times and attributed to over $500K in revenue for Nic.
- The power of the pixel—Find out how you can retarget an already-interested audience, track their direct return on ad spend, and get Facebook to find lookalike audiences that will continue to drive results for your business!
- [05:12] The $100M dollar business decision Nic made that led to his success with Facebook marketing.
- [07:53] Understanding the different roles Facebook can play in both your personal and professional life.
- [09:38] The paradox of size—why a platform serving a mass audience (3 Billion+ people) is still an incredibly powerful tool for zeroing in and targeting your most profitable prospects.
- [12:51] What if you could cut your acquisition costs in half? Nic shares a fun story that will make you rethink your marketing spend.
- [16:52] How to identify the 4% of prospects that will make up 80% of your assets under management.
- [18:09] The 4 forces that determine ANY consumer behavior (fears, frustrations, aspirations and wants)
- [19:41] How to use the The S.A.G.E. Principle to create content that actually resonates with your audience and sets you on the path to acquiring new business!
- [27:17] How to easily create one piece of content that absolutely crushes it!—Don’t miss the 2 page PDF that got downloaded more than 80,000 times and attributed to over 500K in revenue for Nic.
- [33:11] Nic shares the high performing split testing strategy he ues to fully optimize his digital ads.
- [35:43] Facebook ads 101 for Financial Advisors—it’s easier than you may think!
- [38:17] Discover the targeting trifecta that will allow you to pinpoint the Facebook “watering holes” that your ideal clients are hanging out at.
- [51:33] The one thing Nic hopes is completely absurd 25 years from now.
- [53:15] The most successful person to Nic and why.
- [54:46] Some of his favorite books and why Nic decided to take an information fast that led to his most productive year of his life.
- [57:47] The 3 most important pieces of advice that led to his success.
SELECTED LINKS FROM THE EPISODE
- Connect with Nicholas Kusmich
- Give: The Ultimate Guide To Using Facebook Advertising to Generate More Leads, More Clients, and Massive ROI
- Mastermind Talks
- Arch Angel Summit
- Advisors Excel
- Success Magazine
- Entrepreneur Magazine
- The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich
- Show Your Work!
- Steal Like an Artist: 10 Things Nobody Told You About Being Creative
PEOPLE MENTIONED IN THE EPISODE
REVIEW OF THE WEEK
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Welcome to this episode of the Elite Advisor Blueprint Podcast with your host, Brad Johnson. Brad’s the VP of Advisor Development and Advisors Excel, the largest independent insurance brokerage company in the US. He’s also a regular contributor to Investment News, the Wall Street Journal, and other industry publications.
[00:00:23] Brad: Welcome to the Elite Advisor Blueprint, the podcast for world-class financial advisors. My name is Brad Johnson and I’m the VP of Advisor Development and Advisors Excel and it’s my goal to distill the best ideas and advice from top thought leaders and apply it to the world of independent financial advisor.
In today’s conversation, I’m talking with my friend and special guest, Nicholas Kusmich. Nick is best known as the world’s leading Facebook advertising strategist and for delivering the highest ROIs in the industry, at his peak upwards of 30,000%. He’s also the author of Give: The Ultimate Guide to Using Facebook Advertising to generate more leads, more clients, and massive ROI and has worked with A-list clients like Tony Robbins and Joe Polish as well as New York Times best-selling authors and a number of Inc 500 companies. Today, he’s going to break down a simple Facebook advertising strategy that all you financial advisors can use to go after prospects with laser focus. Nick will help you shine the light on the top 4% of prospects that result in 80% of your revenue.
Here are just a few things we dive into. We start with an overview of why Nick believes Facebook is the most powerful direct response marketing platform on the planet and how financial advisors can utilize it to zero in on your most ideal prospects. Then Nick shares a story that speaks to how Facebook marketing performs versus traditional marketing. Nick went head-to-head with one of the greatest ad copywriters in the world. The results may surprise you. From there, Nick outlines a four-part lead generation framework that if he was a financial advisor, he’d use to identify top-tier prospects who would be an ideal fit to attend his next seminar or workshop, direct on Facebook, how to get them to your event from there. Next, we get into how to efficiently create content that absolutely crushes it. Don’t miss the story about the two-page PDF that got downloaded more than 80,000 times and attributed to over 500,000 of revenue for Nick.
[00:02:15] Brad: Lastly, if you’re like me and wonder how random ads for that pair of shoes you are going to buy happen to follow you all over the Internet wherever you go, Nick actually explains the science behind what’s called a Facebook pixel and how Facebook literally tracks you and your ideal prospects wherever you go on the internet and how you can use that to grow your business with things like retargeting an already interested audience, tracking your direct return on ad spend and getting Facebook to find look-alike audiences of your ideal prospects.
Okay. One last thing before we get to the conversation. Nick isn’t just giving everyone a free download. He’s actually going to ship you a free copy of his book, Give, free of charge. Super grateful to him for going above and beyond for all of you. So, grab your copy of this book. You can get the details right at the top of the show notes. It’s at BradleyJohnson.com/35. Links to all the other resources there too, books mentioned, people discussed, full transcript of our conversation, everything else from the show. So, that’s it. As always, thanks for listening and without further delay, my conversation with Nicholas Kusmich.
[00:03:24] Brad: Welcome to this episode of the Elite Advisor Blueprint Podcast. I have my friend and special guest, Nicholas Kusmich, here with me today. Welcome, Nicholas.
[00:03:32] Nicholas: Brad, thanks for having me. Let me hang with you guys and then hopefully serve in your community.
[00:03:36] Brad: I have no doubt, man. So, it’s funny how this connection first happened. So, I’m out in Carmel at Jayson Gaignard’s mastermind talks, my first one. Was that your first one as well?
[00:03:48] Nicholas: No. That was my third.
[00:03:49] Brad: Third?
[00:03:50] Nicholas: Yeah.
[00:03:50] Brad: It shows you I’m behind the curve but I’m catching up quick here. And what was really fun was I was out there, obviously a great group, 150 entrepreneurs or so out there. And how we first connected, one of the things that I was looking for is, hey, at Advisors Excel we’re starting to explore what I would call more the digital path to marketing for our clients and so obviously Facebook’s at the front of that. And no more than the words Facebook get out of my mouth and it’s like the sea parts like Moses and this path leads to, they’re like, “You got to talk to Nicholas Kusmich.” And it wasn’t one person. I remember Jim Shiels saying something. I remember John Ruhlin. But basically, all paths pointed back to you. And so, we connect out there and you didn’t disappoint, this very brief conversation, but obviously, you get it when it comes to Facebook marketing. So, what I would like to do in the short amount of time we have today is just pick your brain as much as possible how financial advisors out there that aren’t taking advantage of this right now can really benefit from all the Facebook has to offer when it comes to marketing your business.
[00:04:57] Nicholas: That’s the one thing that I’m very excited to talk about so I think we might have a good conversation here.
[00:05:02] Brad: Okay. So, let’s dig in. I literally just finished your book right in my morning routine this morning so about 5:30 AM I grabbed last pages and one of the things that I love is how you actually found Facebook marketing. So, you are out I believe it was Archangel Summit and the topic of Facebook comes up. I’ll let you share the story, but I want to start there because this wasn’t something you just set out to do. It was kind of a path led to Facebook marketing. If you could…
[00:05:27] Nicholas: Yeah. It is completely by mistake. I wish I could say I was intelligent enough to come up and craft this plan that leads to what we’re doing today. Once again, I guess, I just come to learn in life in general that every time I make a plan, life has something else to say about it and kind of leads me somewhere else. So, yeah, I was in a really, really tough place in my life. I mean we don’t have to go that far back but in a really, really tough place. I’d kind of walked away from 14 years of service in the ministry. I was a pastor for 14 years and that took the best and the worst of me, and I was just kind of at a very confused place in my life. Now one of the commitments I made when I was a pastor was not to take a salary from the church. So, I had to figure out ways to kind of take care of my family and put food on the table and that kind of led me to the digital marketing space. And so, I’ve been doing digital marketing, all the while, I find myself at this event and of all things, again, I step away from the church just for a break and I’m at an event called Archangel. The first event is held in a building called the Berkeley Church of all places and it was on a Sunday morning. I’m like, “What on earth is happening here?” So, the long and short of it was a question was posed from stage that said, “How many people in this room are using Facebook ads for their business?” And my hand went up along with about 80% of the room. And then a second question that was posed was, “How many people had found those ads profitable?” And every hand in the room went down except mine.
And it was like one of those just lightbulb moments where for the longest time I was kind of positioned as a digital marketer and a marketing consultant and all this general terminology and a light went off and said, “You know what, I think there is a need here,” because I’m at the right place at the right time and mentally I shifted and said, “I’m going to focus on this Facebook thing.” And so, we went hands in, all the chips in on the Facebook thing and to us, I’ve been looking back on it. You can call that $100 million decision. I mean, for everything that we’ve done in the last six years, we’ve easily generated over $100 million of revenue for ourselves and our clients. And again, it was just fascinating that happened all kind of by mistake. It was a right place, right time. We’re recognizing an opportunity, recognizing the skill set that we have had, mastering it all together and, well, here we are. So, it’s been a fun journey.
[00:07:34] Brad: I’d say it was a good move for you.
[00:07:36] Nicholas: In hindsight, yeah. When I was making the move at the time that you just never know but yes, in hindsight now it ended up being the very good thing for us. Yes.
[00:07:44] Brad: Okay. So, I’m going to run full steam ahead, man. I want to…
[00:07:46] Nicholas: Let’s go.
[00:07:47] Brad: …take advantage of every minute we’ve got here. All right. And I know you’ve got some clients in the financial advisory space so you’re familiar. Let’s go 30,000-foot view. If I’m a financial advisor out there, obviously, everybody I think at this point knows what Facebook is. I think some people in financial advisory space still think of Facebook as, “I’m just crushing it if I have a Facebook fan page that I put a post up once a week with some picture or comment or question,” where you’ve really segued to is running Facebook ads to drive people to events, to drive them to products and things like that. So, high-level, if I’m completely unaware of how to do this, what do I need to know to get started? Or what should I be taking advantage of?
[00:08:28] Nicholas: Yeah. That’s a great question. I think we could see it one of two ways. The first way is understanding the different roles that Facebook can play in your life as a business owner. Most people when they think Facebook, automatically think social media platform which it is so that’s not a wrong thing to assume. However, when I look at Facebook, I’m not looking at a social media platform. I’m looking at an advertising platform. Those are two very distinct elements on Facebook. It’s, “Do I want to do social media marketing?” which is what most people kind of teach out there which is get a fan page and post once a week and hope you get a handful of likes and maybe one day somehow generate business from that. I could care less about the social medias. Now if you want to do that, all the power to you. I’m interested in what I believed to be the most powerful direct response marketing and advertising platform on the planet hands down.
And so, it’s moving that mindset of, “Hey, maybe I’m doing TV ads or radio ads or newspaper or whatever, Google, and all these other things.” I just want people to think about Facebook as another medium by which you can get in front of your targeted audience.
Now that’s the second part I really like to emphasize here. The beauty of Facebook is what I call a paradox of size. On the one hand, almost 3 billion monthly users, 3 billion, I mean last I checked, that’s almost half the planet is on Facebook. So, the short of that is it’s no matter who your client is, for the most part, I could almost guarantee that they’re probably on Facebook at some point or another. In fact, the fastest growing demographic on Facebook right now is that 55 plus demographic and that’s because, obviously, their kids and their kids’ kids are on Facebook and people want to stay in touch especially if they live out-of-state. They say, “Well what’s my grandkids up to? Or what’s going on or what’s going on in the world?” And so, this population is growing heavily on Facebook. But if size was all that it was, it wouldn’t necessarily be the greatest thing in the world because just because you have the potential to reach 3 billion people, doesn’t mean that you should.
[00:10:30] Nicholas: Here’s where it becomes a game changer and I called it the paradox of size because on the one hand, you have the hugeness of Facebook, the 3 billion people, but on the other hand you have what I would call like the smallness of it. What I mean by that is on the surface, Facebook is a social media platform. In the background, it’s really the world’s greatest ad aggregator. The joke we have here at our office is that Facebook knows us better than we know ourselves. It knows what we like, who we followed, where we checked in, who our friends are, how many friends that they have, all of that stuff. In fact, this morning when I woke up I looked at my phone and Facebook reminded me what I had for lunch three years ago. I forgot what I had for lunch three years ago. Supposedly, three years ago taking a picture of your lunch was the thing to do and so I did it and then Facebook reminded me, “Hey, do you remember?”
So, the point is, Facebook has information. If I could draw up a slide I would, I don’t have it in front of me, of all the potential like aggregates of data that Facebook have chunked. So, you could literally find, and this is a bit of an exaggeration but it’s true, if you wanted to target your ad to a woman between the ages of 25 and 32 who live in Beverly Hills, California, who shops at Whole Foods, who read romance novels and spend at least $1,000 on their Amex last week, you could. And there’s no other marketing platform on the planet that allows an advertiser or a business owner who just knows a little bit about their marketplace to be able to laser target a message in front of the right person. So, we call it the shift from mass marketing to micro marketing. And this is why I believe even on a higher level for anyone who is like, “So, what’s the whole deal with Facebook?” A, the paradox of size and, B, the fact that it is an advertising platform just as much as it is a social media platform should alleviate the stress of like, “Does that mean I got to be on Facebook all the time and like liking stuff and posting stuff?” The answer is no.
[00:12:26] Nicholas: It’s an advertising platform and, I mean, your ideal prospect is sitting there waiting for a solution from you if you know how to reach them which doesn’t take much. With a few clicks of a button, you could reach them. So, I mean, as you can tell, I’m super excited about this platform because it could literally transform scale and growth in people’s businesses.
[00:12:45] Brad: So, there’s a great story from your book, Give, which I think speaking of Give, we’re going to have some cool things for the audience here. But you talk about an ad that was kind of an apples-to-oranges test I guess where in Success Magazine which Darren Hardy is a great friend of Advisor Excel. He’s run a lot of events for us. I’m a big fan of his stuff. But you have one of the best copywriters in the game running an advertorial in the traditional old-school magazine versus you, Facebook copies. So, can you kind of share some insights on what that uncovered?
[00:13:18] Nicholas: Yeah. Absolutely. So, there’s a mutual client of myself, little old Nick, and one of the greatest copywriters in the world a guy by the name of Jay Abraham. Now let me just say, unbeknownst to him, he didn’t know this was going on. It’s not like they pegged us up against each other. Jay’s a former mentor of mine, a great guy and super, super smart. And literally, this company that we were working with has two-day events once a year, high-level entrepreneur events that they charge $10,000 a seat for. And for the longest time they’ve been running two-page advertorial spreads in magazines like Success and Entrepreneur where these entrepreneurs typically hang out. Now to get Jay Abraham to write a two-page advertorial for you will cost anywhere between $25,000 and $50,000 and then to actually run the spread one month run in Success Magazine, two pages, is $17,500 for a two-page spread there. So, fortunately, Jay waived his fees and he wrote the thing for free, but they did run the spread in Success Magazine.
This is about a year ago or two years ago. He ran the ad. It cost $17,500 and immediately just on the front end, now on the back end there was probably more to it, but on the front end, they generated two ticket sales. Now if you do the math on that, that’s $20,000.00 in revenue for $17,000 spend. Now I ask people, is that a good day or a bad day? Some people say it’s a bad day. I think that’s a great day. Anytime you can spend money and make more money in advertising, you win. Most people are spending and not making it back. So, net profit, if you will, about $2,500. It’s not the best day in the world but it’s definitely not the worst day in the world. So, then they came to me and they said, “Hey, Nick, what about this Facebook thing? Can Facebook help us fill a $10,000 per person or per ticket event?” And I said, “Well, let’s find out.” So, to keep all things fair, now I’m not the greatest copywriter in the world. I do have an ad writing formula that I allude to but not the greatest copywriter in the world. But we put together an ad and for the sake of keeping all things fair, we distributed this ad only to those who follow Success Magazine.
[00:15:18] Nicholas: Because obviously, the run was being in Success Magazine, we could target on Facebook only those who follow Success Magazine and we ran this ad. We got four sales. So, right off the bat, I’m like, “Oh yeah, there we go.” We doubled up on what they did in Success Magazine which is $40,000 in revenue but the part I left out is how much ad spend it took to get those four sales. And the ad spend that we spent to do that was about just over $1,800, less than $2,000 to get $40,000 in sales versus the $17,500 to run a two-page spread and get two sales. The case in point and what I like to tell people about that is what people don’t understand is that if you have the mediums that are working for you, all the better. But what I would say is allocate a small portion of your marketing budget just to test Facebook out. Because right now the acquisition cost on Facebook is so much lower than they could be in traditional forms that you might be blown away with the kind of results that you’re going to get. So, yeah, that’s just one clear example, people in the space were using other forms of media and then the role that Facebook could play in that and the difference you might see in some of your acquisition cost kind of following forward with that.
[00:16:26] Brad: Cool. So, let’s dive in there. This is where it can get really fun I think for the audience here. So, knowing our space, traditional marketing, a lot of direct mail to live events, dinner seminars and things like that. So, I want to go back to your book. The title is Give for a reason. It’s not what we can get from Facebook. It’s what can we give to drive interaction. So, you start a little bit with that model but maybe we can use the case study of how could I as a financial advisor test Facebook for a dinner seminar or some type of evening event where I’m using a Facebook ad to drive people to that event?
[00:17:03] Nicholas: I love that. Yeah. Now, there’s one of two ways to do it. I’ll tell you my preferred way and then I could also show you kind of a small variation that might be a little more direct. Maybe not as great results but whichever way kind of works best for you. So, if I was in the financial advisor space and this is who I was, I would start by trying to get very clear, and most financial advisors that I speak with are already very clear on this, but to get very clear about who I’m actually most apt to serve. Now I know in theory I could help everybody, right? Just come on board and I’ll help you out but that doesn’t work in a noisy social marketing kind of space. You need to be very clear that I can help a certain category of people. In fact, I call it the 4%. And what we’ve done is we’ve taken Pareto’s principle of the 80-20 rule and cut that 20% into a further 20% and say who are for the 4% of people that you can most apt serve the best? These are your ideal clients. These are the people who don’t complain. These are the people who don’t text customer service. They’re not calling you all the time and they’re probably responsible for 80% of your assets under management. Who are those people? And get very, very clear on them is step one.
Step two then is identify the actual issues or problems or frustrations or fears or aspirations or wants. In fact, I call it the four forces. I believe there are four forces that determine any behavior and they are the fears, frustrations on one side or the wants and aspirations on the other side. So, if you’re looking at your 4% and you say, “I’m very clear that this is their fear, these are their current frustrations, these are there wants, and these are their aspirations,” now you’re on the right track of identifying what we can provide these people in order to start a conversation with them which is essentially what we’re trying to do on Facebook. So, we’ve identified our 4%. Two, we started to get very clear on what it is that they need the most help with.
[00:18:56] Nicholas: Thirdly, once we know that, and I’m not talking about general like let me help you get a better understanding of your finances. That is way too general. We need to know specific issues and problems that they have that we can provide that solution. Once we know that, step three is then creating something that actually helps to alleviate that problem. We call this in our industry a lead magnet but essentially, it’s a piece of content that we could give (give, not take) give to our marketplace in order to start this conversation. It’s saying, “Hey, look, I know where you’re at. I know stuff you got going on. Rather than me trying to sell you something right off the bat because you don’t know me, and I don’t know you, why don’t I invest into this relationship just a little bit by giving you something that’s going to help move the needle for you?” And when I think about something to give to my marketplace, I’m thinking that it needs to fit into four different categories. It needs to include four different things. I call it the SAGE principle, S-A-G-E. S stands for short. It needs to be something that that person can consume and move away with and I like to say four to seven minutes.
Now the reason for that is if you don’t know me and I don’t know you and you ask for an hour-and-a-half of my time right out of the gates, that’s a pretty big ask. I believe we have two currencies that we transact with, money being one of them, less important. Time is being the other, way more important. You know there’s an old saying that used to say, “It doesn’t hurt to ask?” Actually, it does. And if you come across way too early in an engagement with someone who doesn’t know you and says, “Hey, give me an hour-and-a-half of your time. Give me two hours of your time. That’s a big ask for someone with a family who’s been working all day, whatever it be. So, I like to say short four to seven minutes consumption, bada bing, bada boom. A stands for applicable. This is the difference between information and insight. Most people when they offer something to somebody, they just offer them information. Frankly, information is commoditized right now. You could go to the Google. You could search just about anything you want, about anything you want and get an answer for you.
[00:20:56] Nicholas: Nobody is looking for more information. Now the difference between information and insight, insight is what to do with key pieces of information in order to get the desired outcome. So, all this information is being blasted to your 4% about, “Hey, didn’t you know this about securities and did you know this about retirement? Did you know you’re being taxed this much if you pull out earlier or whatever?” If you can come and say, “Hey, you know all this to be true but let me give you an exact plan that you can follow, and this is how it’s going to benefit you,” that’s far more important to that person. So, short, A, applicable, G, goal-oriented. Now what I mean by goal-oriented is that everybody who’s on a path is looking to make progress toward something. They’re at point A. They’re looking to get to point Z and your job is just to take them one step closer to Z. Not all the way. You can’t do that in four to seven minutes but just a little bit closer. Is there something that you could give them so that they can take that step and feel like they’ve made progress? And that’s the key.
Most people don’t take action because they’re inundated with information. They never make any progress and if they don’t make any progress, they feel like abandoning ship. But if they actually take a step and make progress with it, two amazing things happen. One, they probably made progress for the first time in a long time, and two, now they’re associating that progress with you. And so, their natural inclination is if you then turn around and ask them and say, “Hey, by the way, we’re holding this dinner get together next week, Thursday. Would you like to join us?” They are way more apt to say yes because you’ve already provided something of value that’s proven to kind of move the needle forward for them. And lastly, E for SAGE is easy. Nobody likes more complication in their life. And I find that in general like on the interwebs, those people are like, “Hey, the more I can make things complicated, the more intelligent I’m going to seem.” Look, finances and taxes and all those kind of stuff is a very, very confusing, convoluted world that hence, the need for an advisor even exist.
[00:22:56] Nicholas: And so, your job as an advisor wouldn’t be to make things more complicated but it’s to distill it down into a way that that person’s like, “I get it.” So, here we go. We found the 4%. We’ve identified who our target is. B, we’ve identified fear, frustrations, wants and aspirations that they are currently facing and then, three, we’ve identified what can I give them in the form of a magnet and form of content that’s going to help alleviate some of those fears, frustrations, wants and aspirations. Now once we have all that in place, we have to build the mechanism, essentially. Now what I mean by that, that might be a challenging word, the mechanism is simply what are the steps needed in order to get someone to accomplish my desired result. So, if my desired result is put people, put butts in seats in a dinner event then I know how can I most easily get there. Here’s what I would do. A, I’ve identified what this magnet is and how it can help my ideal prospect. B, I’m going to create an ad. We could talk a little bit about ads if you want, Brad, but I want to create an ad which to me is nothing more than a communication to your ideal prospect. Your ad is not designed to sell anything. It’s simply a form of communication to your ideal prospect.
So, we have this ad. We put it on Facebook and we target our 4%. The 4% will see that ad and click on it and it’ll take them to what we call a landing page that then says, “Hey, I’ve got this great PDF report for you, the three things you could do tomorrow to ensure that you don’t get overtaxed when you retire.” I’m just coming up with stuff but let’s call that the thing we’re giving away. So, you say, “Hey, come. I got this thing for you. If you want, just tell me where to send it. Give me your name and your email. We’ll send it off to your inbox, so you can go through that process. And we can talk more about the magnet and how to structure it if you like.” And then once they fill out their name and their email address, they go to a thank you page and this is essentially where most people will say, “Oh, here’s your PDF download.” I don’t like doing that because essentially, you’re kind of like stopping the momentum of this person.
[00:24:56] Nicholas: Instead, I say, “Hey, the thing that you requested will arrive in your inbox in about 12 minutes. Just so, in the meantime, I have this short three-minute video that I’d love for you to watch. Hey, my name is Brad Johnson. This is what I do. This is who I help. I’m assuming if you just got that thing, you’re interested in this.” And so, what I’d love to do is you go into a little bit of a script and we could talk about that as well but go to a little bit of a script and ultimately at that point, you can invite someone to a free dinner. Now you’ve built this a little bit of rapport. Maybe they don’t take you up on it right away. First, they read the magnet and they’re like, “Oh this Brad guy is a genius. Okay. Now I’m going to book the dinner.” But that is the simplest way without getting so complicated with 14 million webpages and all these integrations with technology. Literally, if you have an ad that drives someone to say, “Get this thing that you know is going to help you,” they get that thing and then a small light nonaggressive invite to the next thing which is, in this case, let’s call it a dinner. We can use a process like that all day long to put butts in seats at very, very reasonable rates.
And now when that person does come to the scene, here’s the beauty of it, if they actually did consume your magnet which we’re going to encourage them to do through email, now they are coming into that room with a totally different mindset. I mean, if someone just signed up for a free seminar, they’re like, “Oh man, I’m going to get a free dinner and I’m probably going to be sold something.” And so, their guards are up and you got to break that down and I don’t know about you, Brad, but I hate being in a room where everyone is like hands crossed like, “Come on, what do you got for me?” Like how you’re going to work through that? Whereas if they consume that magnet, now they’re like, “Wow, this guy knows what he’s talking about.” And here’s the beauty of when this happens when they say something like, “I really hope he has space in this practice for me,” and that mindset is shifted where now when you make an invite to say, “Hey, have a private strategy session with one of our team. We’ll see if we can help you,” they’re thinking, “How can I sell myself to you?” rather than, “Okay, buddy, sell yourself. Why should I take you over someone else?” And so, all-encompassing it just makes for a really, really great process that can work over and over again. Does that make sense?
[00:26:58] Brad: Nick, that’s gold, man.
[00:27:00] Nicholas: Beautiful. Let’s call it a day then.
[00:27:02] Brad: Yeah. There are so many different ways we can go with that.
[00:27:05] Nicholas: Sure.
[00:27:06] Brad: So, let’s start here because if I’m an advisor and I’m listening in and this is all, it’s foreign to most guys, I would say our industry is very traditional when it comes to marketing. So, let’s go back to the – let’s say we’ve identified the 4%. Here are my people I love working with that are ideal clients that are super profitable to my business. Now let’s go into I think where a lot of advisors get stuck is, what is that piece of content? And I think some of them get so stuck on it, they never actually do it. They never get past that hurdle. So, let’s use radio because a lot of our clients are on radio. A lot of our clients are putting out tons of content in the form of a 60-minute radio show every single week.
[00:27:48] Nicholas: Wow.
[00:27:48] Brad: So, would that be a good piece of content? A little snippet of audio? I guess what would be some ideas? If I’m an advisor, how I can quickly have a high-value piece of content to insert into that ad? What are some good examples?
[00:28:01] Nicholas: Yeah. I love how you brought that up. Because most people when they think content they might be thinking, “Oh my God, I got to sit down and write a few pages of e-book or report or some ten pages here.” If you look at anything that I do, and I know I’m not an advisor, but the rule still applies, every piece of content I’ve ever put out there is two pages max, maybe one page with a lot of white space. So, I want people to know, again, this is where the S, the short comes in is that you don’t need to produce some heavy piece of content in order for, so I want to get value from it. So, here’s what I want you to think. There are lots of different types of content. Let me give examples not just in the financial services industry and then we can dive into the financial services industry. But I know templates are good. Scripts are good. Cheat sheets or blueprints are good. I know someone in the health space who releases recipes. So, this just gets people’s minds going.
One thing that works exceptionally well are consumers reports. One of our clients of all things has an eight-figure business selling do-it-yourself kitchen cabinets on the Internet. Now you never think that someone can sell do-it-yourself kitchen cabinets on the Internet with Facebook, but this is an eight-figure business and one of the things that they release is consumers report. It’s the four questions you need to ask yourself before you buy a kitchen cabinet on the Internet. So, all these things, and so a great example I gave of someone who consults people in the HR space is they wrote an entire book on how to like hire great and how to have a great HR department in your business and all the sort of thing and it was great. The reality is a lot of people downloaded the book. Very few people actually read the book because that’s kind of what we live in right now. People don’t have time to consume all of that and so, I said, “Dave,” we’ll call him Dave. I said, “Dave, hey man, you have this great content. Here you have ten chapters in a book. If I were to ask you what is the number one chapter like the one that every HR person can’t live without, you know this is the one that’s going to move the needle the most for them, what chapter would that be?”
[00:30:03] Nicholas: And he said, “I have this chapter on 100 interview questions that you can ask during an interview to make sure you hire an ace.” I’m like, “Well, but 100 is a hell a lot of questions. Can we break that 100 down into the top five questions? Can you do that?” And he said, “Yeah. I got the top five.” We took the top five. We literally put that on one PDF, one-page PDF and this now was one of the content pieces he puts out to his marketplace and it’s super valuable. People can eat that up all day long. You have testimonies of people saying, “I got this report. In my next interview, I asked these five questions. Immediately, it seeded out the bad guys and we took them to level 2 and level 3 interviews and we were in our search for the right hire.”
So, I’ll be saying if you’re doing a radio show or if you’re writing content on the Internet, I would say, “First, look at which show and which piece of content got the most engagement. What were people talking about? If you take comments on your blog, what were the ones that had the most questions or engagement? Or where did you get a lot of feedback on the radio show?” And then look at that one piece and then say, “Okay. On the 60-minute piece, what would be something that I could pull out as being just a killer one-piece that’s going to help somebody move things forward?” And yeah that could be an audio. If you already have it, it’s very easy, say this audio clip from a recent TV show or radio show that we did. Or if you could transcribe it and make a nice little kind of multi-paragraph thing about it, you could do that. But I do want people to realize that you’re probably sitting on the content already and you know from the conversations that you’ve had with your clients what is most pressing to them. Here’s one last example and I’ll move on with this. A couple of years ago I was asking myself the same question. I said, “Who are my 4%? And what is a pressing fear, frustration, want and aspiration that’s happening in my marketplace?” And a couple of years ago the major issue was people were losing their ad accounts because they weren’t following Facebook-compliant. So, people were running ads and their ad accounts were being disabled and they were unable to market on the Internet anymore or on Facebook.
[00:32:04] Nicholas: So, I said, “Well, what could I do that could serve this community?” and essentially I came up with a two-page 10-piece checklist and it’s literally I called it Facebookpocalypse because everyone thought the world was coming to an end and they’ll never be able to market on Facebook ever again and it was, “If you just follow these 10 steps that I’m giving you right here today, you can be guaranteed that you will not lose your ad account.” Brad, man, this was just right place, right time because I understood the pulse of the marketplace. I understood what people were talking about. This thing got downloaded close to 80,000 times and the simple two-page PDF digital piece of paper, I mean, I wish I could give you the exact numbers but attribute it to at least half a million in revenue. And so, just understanding the right piece of content to the right audience at the right time and, again, it doesn’t have to be long. It’s just understanding what they need and then ripping from content you already have, repurposing it and handing it out to them can go a long, long way. I hope that was helpful.
[00:33:09] Brad: That’s super helpful. So, this is a beginner’s version of me understanding Facebook, but the beauty of Facebook is so the Facepocalypse post, which by the way I love that title, you could be split testing five different posts all at the same time on very minimal tests, right? So, even if the Facepocalypse wasn’t the one, you could have been running four right at the same time. What’s your typical strategy there when it comes to split testing?
[00:33:34] Nicholas: Yeah. And that’s a great question and it eludes back to kind of the whole Success Magazine thing. It’s like here’s the beauty of Facebook and you head it so poignantly is if you ran a Success Magazine ad and all of a sudden you were getting zero leads, or you realize there was a spelling error, what could you do? Nothing. It’s run. You’re out your $17,500. If you’re running a Facebook ad and you realize there was a spelling error or it just wasn’t working, within $100, you could turn the thing off and say, “I’m moving on to something else. Forget this.” So, the agility that you have with that. So, what we like to do is we always be testing. We always like to have at least two variations of something going on. So, if it was Facebookpocalypse and an ad template and we just throw them both out there then we want to see which one perform. If they both perform, great. Let’s add a third. If one performs way better than the other and it’s heading our metrics then we run with that one, we drop the other one and then we bring another one into play. Now I don’t want to talk about that too much because I don’t want people to feel like, “Oh my God, I need 15 to test.” The answer is you could start with one and if you happen to have another one because you have an abundance of content than start with two and always just run two and see which one works better.
And then as you’re running the two with one performs better, drop the loser and bring in another one and keep testing that way and frankly, the more you have over time, the better off you’re going to be because at some point everybody in your marketplace is going to see that one, right? So, even Facebookpocalypse now two years ago was on fire, I don’t know how many people were downloading that a day, now we get a trickle of two to three a day. So, I had to come up with something else. It sounds like the basic or the traditional advisor isn’t lacking content. It’s just how do we repurpose that content but if you already have content, you could be spitting out these one or two-pagers all day long and that’s a better thing because your market is just going to continue to see you as a thought leader in your space which even has an indirect effect of maybe they never download it, but they keep seeing your ads of all these great things that you’re doing. When it’s time to select a financial advisor which they make a move, you should know that they’re probably thinking of you because they’ve seen your face so many times now on Facebook. So, it has that kind of like secondary effect as well.
[00:35:42] Brad: Yeah. Okay. Nick, so let’s go here. I’m a rookie when it comes to running Facebook ads so let’s just make that assumption and let’s just call it Facebook Ad Running for Beginners 101, whatever you want to call it, but I’ve now crafted the ad.
[00:35:55] Nicholas: Okay.
[00:35:56] Brad: And I’ve now gone to the implementation phase of actually running it as an ad to help people understand, is that a boost? Are we going back behind the scenes? And then how are we picking that 4%? Like what are some easy beginner ways to say, “Here’s who I’m targeting this to as far as strategies there?”
[00:36:14] Nicholas: Yeah. And that’s a great question. Fortunately, like Facebook has made the process very, very easy. You go to Facebook. You go to your ad account. If you don’t know how to do that, a quick Google search will show you how to do that. And literally, there is a step-by-step walkthrough, a tutorial, literally where Facebook will say, “Okay. Well, who do you want to target?” And then you could pick men or women or both. You could pick age range, this range to this range. You could pick this country or this state or this region or this zip code, all of that. And you literally go through it step-by-step and it’s going to say, “Any interest you want to target?” Yes, I want to target people who drive Ferraris, or I want to target people who live in this particular area or people who…
[00:36:57] Brad: Or Tesla’s, Nick, or Tesla’s.
[00:36:59] Nicholas: Or Teslas. That was our great breed of people. Or whatever it be, and you just literally input it and the best part about this is as you input something, Facebook is also going to give you a bunch of suggestions that people who are just like that. Now you could get carried away and start clicking on, “Oh my God. Yeah. This, this and that and the other.” You don’t want to do that. You’re going to reign it back and say, “Really who are my 4%? Who am I clear on right now and just target those folks?” And literally, you’re just going to follow next by next by next. You’re going to enter all that data then it’s going to say, “Which image you would like to use?” Then you’d select an image and then it’s going to say, “Well, what would you like to say?”
At this point, you’ve already written what you’d like to say. You literally copy and paste it in there. I know this sounds over simple, but it really is this simple. You do all that. Facebook is going to review it for you and say, “Hey, this is what your ad will look like. Are you happy with this?” If not, you can go and edit it. If you are, just hit review. It’s going to go up into the Facebook cloud or whatever that happens there then it literally starts distributing right away. So, the beauty of it is, again, there’s a step-by-step tutorial. All you need to know is who are the 4% that I want to target because Facebook is going to allow you to input all that data. Do you have an image? And do you have the copy? If you say yes to all of that, you can literally have an ad up and running within the next – if this is your first time doing it, 20 to 30 minutes from when this call is over.
[00:38:18] Brad: You got a great analogy in the book. The analogy with the lion’s hunt around the watering hole. Can you share that? Because I think that’s a great beginner’s thought process for Facebook ads.
[00:38:27] Nicholas: Yeah. And maybe we can talk a little bit about the targeting to get people’s minds around this. I mean, I first realized this when I was in Bora Bora. We are celebrating our one-year anniversary, my wife and I, and one of the beautiful things about Bora Bora is your ability to snorkel and dive with sharks and whales and lagoon life and blowfish and barracudas are dangerous I found out, worse than sharks actually. But we’re there and as we were watching the sharks go by, more or less all of them had this fish on its underbelly. And so, I turned to our skipper and I’m like, “How come that fish isn’t lunch? Like why does he just get to chill with the shark?” And they said, “Well that fish is called the Remora. They have a symbiotic relationship. The shark because of its shape can’t clean its own body and so the Remora cleans it for him and as a result gets to hang around and not die.” I mean, it’s a pretty good relationship.
And then it started to open my eyes towards what Facebook is like. And what I mean by that is Facebook really is made up of a bunch of tribes and every tribe has a tribal leader. Now that leader could be a person. It could be a brand. It could be an association. It could be all these things. But essentially, you do have these conglomerates of people gathering together and that’s kind of the watering hole analogy. It’s like if you wanted to hunt and I try not to talk about hunting too much because I don’t understand the concept all that well. I don’t know how I feel about chasing game animals. I don’t know. But anyways, if you’re in the African safari and you want to hunt or if you’re an animal and you want to find your prey, there’s one of two ways to do it. It’s to go out into the open field and find them one by one and hopefully you run faster and you’re stronger and you could win. Or you go to a watering hole where they’re all there just hanging out sipping and if you’re the “predator” I mean, it’s easy picking at that point. So, the point I’m trying to make with that is, Facebook has all these tribes that are gathered, and we’ll call them fan pages or interests or behaviors or job titles, whatever it be. And if you’re an advertiser, you can literally just go to the watering hole and pick that out. So, what I’d like to say is I use an example called the targeting trifecta.
[00:40:26] Nicholas: It’s three F’s that you should think about when you’re going to start piecing together who those 4% might be and how to reach them. The first F is asking, who do they follow? So, if I’m looking at my 4%, I’m asking, “Who are some of the influencers that they might be following?” Now, an example I give all the time is, “Hey, if I was in the personal development space, who is the number one thought leader influencer in the personal development space?” Everybody comes back saying, “Tony Robbins,” and the answer is true, 4 million fans on his fan base. So, if I was in the personal development space, I could just throw an ad in front of those people who like Tony Robbins and all of a sudden, I’ve eliminated 80% of the waste because I know these people are definitely interested in personal development.
So, you’re going to ask yourself who does my ideal prospect follow? Are there influencers? Are there authors? Are there speakers? Are there people on TV? Are there presidents or presidential candidates that they follow? Who do they follow? And you just come up with a list of two or three of those and you’re well underway. The second F is where do they frequent? Where are they going? Are they reading a certain newspaper on a daily basis? Do they read a certain blog on a weekly basis? Are they part of a certain country club that they go to every week or every month? Are they part of a trade association? Do they attend to certain conferences? Wherever you will know that they might be hanging out on a semi-regular basis, this is something you could probably target. If you know that all your people attended a specific school, an Ivy League school then graduated from a particular class, basically allows you to target schools or graduates, alumni from certain schools. If I was looking to go after chiropractors, for example, I know that most chiropractors graduate from 1 of 10 schools in the nation. Why don’t I target alumni there? So…
[00:42:15] Brad: Financial advisor space, Nick. Assuming I have an N with this company, I would assume that would be the same sort of situation. They frequent that company or they work at that company. Same concept, right?
[00:42:27] Nicholas: Correct. Oh yeah, and you could even ask, where do they work? Job title is something that or what industry do they work in? That’s all stuff you could target. So, who do they follow? Where do they frequent? And the third F in the trifecta is what do they fund or where do they spend money? Now you can think about that directly and indirectly. Are they spending money on certain financial assets or financial products? That’s one way to look at it. But if I were to tell you that my 4% shop at Whole Foods, that’s where they bought their groceries. Now think about the implications of what that says in and of itself. Someone who shops at Whole Foods probably is health-conscious, probably has discretionary income, right, because it’s way more expensive to shop at Whole Foods, probably are also interested in status. I find people who shop at Whole Foods are people who kind of want to tell people, “I shop at Whole Foods.” So, just by knowing where they shop, where they’re spending money, what kind of car, like all these things. So, if you can just think about, if you’re like, “I’m stuck. How do I find my 4%?” think about who do they follow? Where do they frequent? And what do they fund? And just literally come up with one or two or three of each of those things, you now have nine different areas of people you could target and get started with right away.
[00:43:36] Brad: Perfect. Super simple framework. Thank you.
[00:43:38] Nicholas: Nice.
[00:43:39] Brad: Okay. We’re getting towards the tail end. I won’t forgive myself if I don’t ask you about this.
[00:43:44] Nicholas: Let’s do it.
[00:43:44] Brad: So, I think the general population has no clue this is even happening, and it speaks to the power of Facebook. So, I think it’s called the Facebook pixel and then it’s retargeting. Can you just share this whole world that most people don’t even understand how Facebook literally knows everything you do?
[00:44:00] Nicholas: Yeah. So, it’s a combination. Facebook is very good at asking a lot of questions. So, right off the bat, if you say you like something or if you say you checked into a certain airport and you’re checking in somewhere else, Facebook is always like, “Hey, what are you up to? What are you doing? Who are you with?” And every time you input that data, boom, it goes into the Facebook matrix and they’re like, “Okay. I’m starting to understand a lot more about this person.” That’s one. Number two, they also purchase third-party axiom data which means like some of this general public information that’s out there about where we work, how much money we make, etcetera, etcetera, etcetera, Facebook goes literally buys that data, incorporate it into their matrix and now Facebook knows that much more about you. But thirdly, and probably the most relevant and powerful way is called a pixel which is simply a little piece of code that can go on a website somewhere. And essentially, if that piece of code is on certain websites, Facebook will know where you are actually visiting outside the Facebook portal.
And so, it’s kind of like retargeting is a great example. It’s kind of like if you were on Amazon.com and you’re looking at a pair of shoes and you didn’t buy them and all of a sudden, on your screen you see promotions for that pair of shoes and you’re like, “How the heck did they know?” That’s retargeting and that’s because when you visited Amazon, there’s a little pixel, a little code that drops on something on your computer and said, “Hey, this person visited the site and probably interested in this pair of shoes.” Now I know a lot of people are like, “Oh, that breaks privacy and all that.” No, no. Facebook is doing that to create a great experience for you. Because imagine a world where you only saw ads or communications of things that actually interested you versus all this other garbage. That is a world that Facebook is trying to create. And so, this whole idea of pixels again, all these advertisers are placing pixels all over the interwebs. They all point back to Facebook and this trains Facebook to know us better than we know ourselves. Now, again, people think that’s a bad thing. I think that’s a great thing as an advertiser and as a consumer because Facebook is very interested in providing an awesome community and an awesome experience for me within the Facebook platform, and in a perfect world will only show me stuff that I’m interested in which is kind of a whole point of this all.
[00:46:08] Nicholas: So, yeah, Facebook’s got a lot going on and if you as an advertiser without getting too technical about it, just realized the power of the pixel, I mean, imagine that your pixel was on a page where you know your ideal clients hung on that. Maybe a certain blog or a certain thing and then now you could show an ad to everybody who visited that page like the power of the targeting has even been amplified that much further. So, a lot of cool things kind of in the works and your ability as an advertiser, just take advantage of them if you just you know a little bit about it.
[00:46:37] Brad: So, to clarify, the power of the pixel is because most people are consuming this on their phones and they’re always logged into Facebook. Now Facebook connects. Your profile is logged in and you went to Amazon, checked out these shoes, therefore, these 15 other websites that also serve ads are now serving the ads for that same shoe.
[00:46:57] Nicholas: Right.
[00:46:57] Brad: High level.
[00:46:58] Nicholas: High level.
[00:46:59] Brad: Okay. So, do you guys and I don’t even know if it’s possible but from a conversion on the backend, so say you serve an ad, they go up to my website, download a free PDF. Now the pixel is captured that they visited my website. Well, what is the ROI? Can you see that on the backend? Now you’re retargeting. And how much does that fall off, just out of curiosity?
[00:47:21] Nicholas: Yeah. So, such a beautiful thing and there’s two key points to that. One, if someone let’s say sees an ad, clicks the ad, gets your downloadable thing and ends up on the page that says thank you for getting this thing, A, if that person ever comes back and buys from you but they have to buy from a perspective where Facebook is tracking so it’d be another kind of online experience where they registered for an event let’s say. You could then go back and look at the stats to say, “Oh this person clicked on this ad,” and it resulted in this sale that ended up being worth X number of dollars for me. So, you could actually see your direct return on ad spend, ROAS, return on ad spend from that particular campaign that you’re doing which is a great point because most people blindly throw at ads, cross their fingers and they’re like, “I really hope that we get sign-ups for something.” Facebook allows you to see all that but the even better part of this, well, just as good part about this is every time someone hits your thank you page, so let’s say they opted in for the thing, they hit the thank you page and Facebook knows, “Oh, this person got the thing that Brad was offering,” the more people that do that, the smarter Facebook gets about the kind of person you’re going after.
Because let’s say 1,000 people now opted in for your magnet and Facebook says, “Wow. Look at all these commonalities about these 1,000 people.” Now you can go back to Facebook and say, “Hey, Facebook, you know those 1,000 people who just opted in for this thing? Can you go out into the Facebook universe and find people just like them?” Facebook calls this a “lookalike” because it looks like the people who accomplish a certain result and you could just say, “Hey, Facebook, can you go find people who look just like these 1,000 people?” Facebook says, “Absolutely.” And now you can say, “Facebook, only find people who look like those people,” and Facebook will go out and your ads could be distributed to those people. So, I mean, there’s a lot of amazing, simple yet powerful things to really empower the business owner who just knows a little bit about it to never, ever have to waste an advertising dollar ever again. All these could be tracked. Facebook will do a lot of the heavy lifting for you because frankly the better you do on Facebook, the more money you’re going to spend with Facebook. It’s a win-win for everybody involved. The end client who sees, “Yeah, I really need a great financial advisor,” they end up becoming a client of yours, I mean, it really is a win-win for everybody involved.
[00:49:38] Brad: So, it’s a marketing funnel that gets more effective the longer you use it.
[00:49:41] Nicholas: And the more results you have and the longer you use it, the more intelligent it gets. And it means the less intelligent you need to be, frankly, to make it…
[00:49:49] Brad: That’s the part I’m looking for, man.
[00:49:50] Nicholas: Exactly.
[00:49:52] Brad: Nick, this has been awesome, man. I know we’re getting right at the tail end here. Before we go into a couple of questions here to wrap the conversation, is there anything just in the Facebook universe, the ad universe that is worth the audience knowing before we move into kind of wrapping on a final note there?
[00:50:06] Nicholas: So, almost the opposite, in that Facebook is continually evolving as an advertising platform. In almost every week or month, they are releasing something new. The danger of that to the average person is thinking that they need to be on top of that all. These are just little beta things that are coming out, not big shifts that can drastically affect your business. So, I would say the opposite. Find the course and maybe it’s what I was talking about here with a simple few step processes to get people to your dinners, find that course that works for you and what I mean course, the path that you’re going to follow and just stick with it. I mean don’t be calling squirrel and chasing everything else out there. Find the path, stick with it, get the results and just make it better and better and better. And then if there is a major update that you need to kind of pay attention to then I’m sure you’ll hear about it at that time. But for the most part, yeah, so many people are not having success on Facebook because they’re chasing the next thing that Facebook just released and they’re getting all confused about it and going all different directions with it.
[00:51:02] Brad: Well, and your book, Give, just go buy that. That’s like $7.99 and that thing’s gold because, I mean, we covered about 10% in this conversation which it will have a more in-depth in the book. So, that was my endorsement. Just go buy the next book.
[00:51:14] Nicholas: To which by the way, we’re giving away for free.
[00:51:17] Brad: Go get next book for free then.
[00:51:19] Nicholas: Yeah. You just pay shipping. We’ll send it to you.
[00:51:22] Brad: So, I will put that in the show intro for those of you that want to check that out. Okay. Nick, you ready for a couple of philosophical questions?
[00:51:28] Nicholas: Let’s try. Let’s see where my philosophy falls.
[00:51:31] Brad: Let’s start with this one. If there was one thing you would like to be considered absurd 25 years from now, what would it be?
[00:51:38] Nicholas: That all marketers are liars and that entrepreneurs are in it for themselves. This is at least in my world like whenever you think entrepreneur business owner, everyone’s in it for themselves, I think we can shift it so that the world becomes a better place through the intelligent ethical moral marketer who’s actually looking to make a difference and help someone out in the process.
[00:52:02] Brad: That’s great, man. You hit on a little bit of that in your book. I mean an entrepreneur is somebody that has something for the world to make it better and so just spreading that message.
[00:52:12] Nicholas: Yes. Yeah and just it’s a hard lesson that I came to learn. I know this not a rapid-fire answer but when I first started my business, it was profits over people. If you were in my way of making a profit, get the hell out or I’ll steamroll you over. Very quickly did I realize that people were following by the wayside, “That was not a good dude.” And as soon as I shifted from profits over people to people over profits, maybe the greatest takeaway that someone can take from this whole experience, now people ask me all the time because of the marketing space that I am in, “What’s the greatest marketing hack or trick or thing that you know to be true about marketing?” Here’s my answer. Have a whole bunch of give a damn. As soon as you actually care, and you disassociate a trend’s action, with your desire to help, not only do you attract right people and you have a great business but that in and of itself there’s something about kind of the universe that swings the things back in your favor and the profits come anyways. But yeah, people over profits all day long.
[00:53:07] Brad: So, true, man. I see that all of the time in our space that the people that are in it for the short-term buck, they fall out very quickly.
[00:53:14] Nicholas: Yeah.
[00:53:14] Brad: Okay. When you hear the word successful, who’s the first person you think of and why?
[00:53:18] Nicholas: My dad but not because he was successful in any means of the word other than to show his only son what it meant to feel unconditionally loved. Dad had it hard. He never had financial success. He never had success by any terms as the modern world would put it, but this kid grew up never, ever doubting that he was unconditionally loved from his parents. And I think more than anything, they could’ve passed business principles onto me and all that other stuff but none of that would compare to me having kind of this frame of reference and a worldview because of that experience.
[00:53:55] Brad: Yeah. It’s interesting. There’s a lot of kids out there where their parents did pass on the business knowledge and all they yearn for was the attention and the love.
[00:54:02] Nicholas: Right. There you go.
[00:54:04] Brad: Next then.
[00:54:04] Nicholas: Yeah.
[00:54:05] Brad: What is the favorite book that you’ve ever read and what did you take from it? How did it impact your life?
[00:54:11] Nicholas: Yeah. That’s a tough one because I find books came across my path seasonally. So, when I needed a book, somehow it appeared. I mean, there was some thought and reference and research and friends pointed that stuff out towards me. So, like way, way back in the day, it was like the Tim Ferriss 4-Hour Workweek that got me thinking about how to structure business properly. Later on, it was a lot of Austin Kleon’s book like Show Your Work, Steal Like an Artist. These were great things that inspired me. So, it’s always been seasonally and, frankly, I think I had a big shift about two years ago, two to three years ago when I went on this massive information fast and I stopped reading books altogether for a year, just one year of fast. It was my most productive year of my life and I got so much more done and I was more present with my wife and my kids and my family and the whole thing. And so, since then, I’m not on information fast right now but I’m definitely on a restricted information diet. That has proven to serve me quite well. So, I know that I didn’t directly answer the question but there’s been a series of books in the past but nothing recently.
[00:55:16] Brad: Now I’m curious on this information fast. So, literally a year, no books.
[00:55:21] Nicholas: No books, no podcast, no blogs, no conferences, no anything. The year was dedicated to go through all the notes that I’ve ever taken in the last 14 years of studying and just do a year of implementation.
[00:55:34] Brad: What year was that?
[00:55:35] Nicholas: It’s about two to three years ago and that’s when everything, everything changed for me.
[00:55:41] Brad: Was that at the same time you were diving heavy into the Facebook business model as well?
[00:55:45] Nicholas: Not long after. I mean, so the first year in I was consuming I was like, “Oh my god, I’m figuring this all out,” and a conference after conference and networking after networking. I got burned out. I was reading a book a week which I thought was a great accomplishment. I told the world about it and now I just realized it was information overload. This might be worth something to somebody. A friend of mine, Carl White, taught me this principle called broken bridges and there’s this idea that if you look back over an entrepreneur’s life, you could see that they’re at point A trying to get to point Z. And so, they hear about a thing and they start building a bridge towards jumping off the chasm to the other side and the goal accomplished. So, what the entrepreneur does, they hear, “Oh Facebook ads. Oh, let’s build a bridge to Facebook ads.” They get here and they’re like, “Oh wait a second. Someone told me about LinkedIn. We got to do LinkedIn,” so they started building a bridge. “Oh, wait a second, content marketing. That’s where it’s at.” So, they start building a bridge and when you look back over the life, you see a whole bunch of broken bridges and all the time was busy but not productive without ever actually getting to that side of the whole thing and that’s what kind of spurred all the information fast to say, “You know what, I’m going to just dial in, focus on one thing, stop building bridges.” Now, I’m not quite there yet. I’m trying to build bridges one at a time until I get there and that’s proven to be very valuable for my life and my business.
[00:56:59] Brad: Great advice. I see it all the time in financial services. I see a lot of broken bridges and when you look at the most successful guys, some of them might just have one bridge when it comes to marketing but they’re going back and forth over that bridge as fast as they can so that’s solid advice there.
[00:57:14] Nicholas: Yeah.
[00:57:14] Brad: Okay. Last question.
[00:57:15] Nicholas: All right.
[00:57:17] Brad: What is the one piece of advice you can share with the audience, financial advisors obviously, that’s led to your success to this point?
[00:57:23] Nicholas: I think it might be almost a combination of a lot of what we discussed here. So, if I could sum it up in three, maybe I would say, one, give before you ask. Ultimately, see yourself not as an entrepreneur. See yourself as a value provider to your community. The more value you can provide, the better off things are going to go. Secondly, build one bridge at a time. I mean, that was a big change for me. And then thirdly and this is way deep to talk about at the end of the call. Maybe we’ll talk about it some other time but as soon as I remove anything in my life that felt oppressive, I know this is kind of like way out nonbusiness talk but relationships, people, energies like anything that was just in my life that felt like it was hard on my shoulders or anytime I got to a point in my business where I felt stressed out, I took a step back and I said, “What is that?” Then I removed it. I just cut it off. I cut right at the head and I said, “This is going to hurt. It might cost me money. It doesn’t matter. Let’s just cut it off.” That at its deepest foundation I think has led to what some might call success in business right now. The moment I remove anything that felt weighty or oppressive in my life, relationships, people, advice, any of that, everything changed. And so, yeah, we can go real deep into that but maybe another conversation.
[00:58:37] Brad: Episode number two with you on that. Based on the feedback I know I’m going to get on this, we’ll probably have a lot of request for it.
[00:58:43] Nicholas: Well, anytime. That’s what we’re here for.
[00:58:45] Brad: Nick, I just want to say thank you. Super grateful, man. I mean this has been, I mean, an hour of just blowing my mind over here so I know the same thing will hold true to the audience that listens in or watches this. So, thank you. I know you have to run. I want to respect your time. It’s been…
[00:59:00] Nicholas: No. The honor was all mine. Thank you for letting me hang with you personally and then also let me indirectly hang with the community here. I appreciate it and I hope more than anything that people don’t just get tickled in their ears but there’s something that they can take away and start to apply to get some results with because that’s what kind of jazzes me up.
[00:59:18] Brad: Absolutely. All right, Nick. Until next time.
[00:59:20] Nicholas: Thank you, Brad.
[00:59:21] Brad: We’ll see you.
[00:59:24] Brad: Thanks for checking out the latest show. Here’s this week’s featured review. This one comes to us from Uncle Poly T. who says, “Among the best. After spending almost 20 years in the financial advisory business, I am intrigued by our industry leaders who continuously introduce new wisdom and find new ways to redefine and articulate age-old concepts which have been time-tested and result in tremendous success. Brad is one of these leaders. Each week I look forward to learning from him and refining my own leadership, practice management, and client management skills. This podcast has been an invaluable resource. Thank you, Brad.” Wow. I’m humbled. I appreciate the kind words especially coming from someone who’s been in financial services almost 20 years now. It’s words like this that really drive me to keep working out great shows and finding great guests. So, I really appreciate you listening, Poly.
And what I love about this show is it’s obviously the age-old concepts but it’s also finding guys like Nicholas who are pushing the front edge of things that are from my experience really still undiscovered for most financial advisors out there, how to market your business on Facebook successfully. So, it’s fun for me to have such an eclectic guest list that we can still apply all of their concepts and what they’re bringing to the table for financial services.
So, that’s it for this week’s show. And for those out there listening in, if you want to strike up a conversation, hit me up out on twitter. I’m @Brad_Johnson. I’d love to connect. Also, if you’d be so kind as to rate this show out on iTunes if you haven’t already, this truly helps me out, helps the show get discovered and yeah, with that, that’s it for this week. Thanks for listening and I will catch you on the next show.
[01:01:03] Brad: Thanks for listening to this episode of the Elite Advisor Blueprint. For access to show notes, transcripts and exclusive content from our show’s guests visit BradleyJohnson.com. And before you go, I’ve got a quick favor to ask. If you’re liking the podcast, you can help support the show by leaving your rating and review on iTunes. Not only do we read every single comment, but this will help the show rank and get discovered by new listeners. It really does help. Thanks again for joining and be sure to tune in next week for another episode.
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