Effective Marketing Strategies with Bill Bice, Ep 139
03/12/20 • 34 min
Today’s guest started his first tech company at the early age of 18. Joining James and Dean is Bill Bice, the CEO of Boomtime and Zebraworks. Bill was able to build an eight-figure business that became the market leader in the corporate legal industry. This venture led to an acquisition by Thomson Reuters, where he joined the management team of a $2B business.
A programmer at heart, Bill tackled the problem of how one can create great marketing consistently. Thus, he created Boomtime by following the data and understanding what really works. Since then, Bill has founded and invested in 27 companies, always seeing the same correlation: the better you are at marketing, the more significant the success.
In this episode, Bill shares the best marketing strategies to drive referrals to your business through word of mouth, the importance of effective marketing, and the impact of creating a great marketing foundation. Plus, Bill also goes over common mistakes that entrepreneurs are unaware of that lead to the downfall of their businesses.
Before you spend a dollar on any form of paid advertising, you need to build the marketing foundation. – Bill Bice
Outline of This Episode
[06:58] What brought Bill back to startups and entrepreneurship
[09:15] Why effective marketing is one of the biggest driving forces in any business
[15:10] The three core goals of creating a marketing foundation
[17:26] Two huge mistakes that businesses make
[21:12] Understanding the concept of amplifying the word of mouth to drive more referrals
Marketing is a crucial part of any business
Any entrepreneur knows that the presentation and promotion of his business are fundamental for it to grow. A determining factor to know if you are good at marketing is to look at the result or the solution you provide to your clients’ problems. One should be able to demonstrate that there is a return of investment as well.
The most powerful thing about marketing is referrals. Considered a social currency, referrals are key to a business’s growth and expansion because you cannot possibly expect your business to develop without getting new and more clients.
How to create a strong marketing foundation
Equipped with over 30 years of knowledge and experience, Bill shares three core goals for any businessman to address in order to create a strong marketing foundation. He emphasizes the idea that you must be familiar with these goals to avoid making random acts of marketing, which causes inconsistency.
These goals concentrate on creating and capturing leads, producing referrals, building market automation, and staying on top of your audience.
Three channels that you can focus on to amplify referrals
Driving referrals to your business is vital to keep the trade in existence. The most well-known concept in driving referrals is through word of mouth. When people give positive reviews about a certain business, more and more people will become interested, and this leads to the widening of an establishment’s audience.
Utilizing the advancements of the internet, these three channels optimize the expansion of a business’s audience. This strategy in driving more referrals to your business is a must-know.
Resources & People Mentioned
Bill Bice’s Website: https://www.boomtime.com/
Bill Bice on LinkedIn: https://www.linkedin.com/in/billbice
Bill Bice on Facebook: https://www.facebook.com/bill.bice
Bill Bice on Twitter: https://twitter.com/billbice
Check out his Podcast: https://boomtime.podbean.com/
Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License
Connect With James and Dean
James P. Friel:
CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
Facebook Group: https://www.facebook.com/groups/hustledetox/
Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
Site: https://jamespfriel.com/
Interested in being a guest on the show?
Dean Holland:
Blog: www.DeanHolland.com
Today’s guest started his first tech company at the early age of 18. Joining James and Dean is Bill Bice, the CEO of Boomtime and Zebraworks. Bill was able to build an eight-figure business that became the market leader in the corporate legal industry. This venture led to an acquisition by Thomson Reuters, where he joined the management team of a $2B business.
A programmer at heart, Bill tackled the problem of how one can create great marketing consistently. Thus, he created Boomtime by following the data and understanding what really works. Since then, Bill has founded and invested in 27 companies, always seeing the same correlation: the better you are at marketing, the more significant the success.
In this episode, Bill shares the best marketing strategies to drive referrals to your business through word of mouth, the importance of effective marketing, and the impact of creating a great marketing foundation. Plus, Bill also goes over common mistakes that entrepreneurs are unaware of that lead to the downfall of their businesses.
Before you spend a dollar on any form of paid advertising, you need to build the marketing foundation. – Bill Bice
Outline of This Episode
[06:58] What brought Bill back to startups and entrepreneurship
[09:15] Why effective marketing is one of the biggest driving forces in any business
[15:10] The three core goals of creating a marketing foundation
[17:26] Two huge mistakes that businesses make
[21:12] Understanding the concept of amplifying the word of mouth to drive more referrals
Marketing is a crucial part of any business
Any entrepreneur knows that the presentation and promotion of his business are fundamental for it to grow. A determining factor to know if you are good at marketing is to look at the result or the solution you provide to your clients’ problems. One should be able to demonstrate that there is a return of investment as well.
The most powerful thing about marketing is referrals. Considered a social currency, referrals are key to a business’s growth and expansion because you cannot possibly expect your business to develop without getting new and more clients.
How to create a strong marketing foundation
Equipped with over 30 years of knowledge and experience, Bill shares three core goals for any businessman to address in order to create a strong marketing foundation. He emphasizes the idea that you must be familiar with these goals to avoid making random acts of marketing, which causes inconsistency.
These goals concentrate on creating and capturing leads, producing referrals, building market automation, and staying on top of your audience.
Three channels that you can focus on to amplify referrals
Driving referrals to your business is vital to keep the trade in existence. The most well-known concept in driving referrals is through word of mouth. When people give positive reviews about a certain business, more and more people will become interested, and this leads to the widening of an establishment’s audience.
Utilizing the advancements of the internet, these three channels optimize the expansion of a business’s audience. This strategy in driving more referrals to your business is a must-know.
Resources & People Mentioned
Bill Bice’s Website: https://www.boomtime.com/
Bill Bice on LinkedIn: https://www.linkedin.com/in/billbice
Bill Bice on Facebook: https://www.facebook.com/bill.bice
Bill Bice on Twitter: https://twitter.com/billbice
Check out his Podcast: https://boomtime.podbean.com/
Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License
Connect With James and Dean
James P. Friel:
CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
Facebook Group: https://www.facebook.com/groups/hustledetox/
Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
Site: https://jamespfriel.com/
Interested in being a guest on the show?
Dean Holland:
Blog: www.DeanHolland.com
Previous Episode
Fishing With Corn Dogs With Rylee Meek, Ep 138
Are you having a difficult time finding the right customers? Do you end up selling to the wrong crowd? Today’s guest offers a new tip for all entrepreneurs so you can start getting that return on your investment of time.
From only having $600 in his bank account to generating over $100 million in sales in 9 years, Rylee Meek has turned dinner seminar marketing into a science. He is the founder and CEO of the Social Dynamic Selling System. After he was introduced to a new concept of selling, he perfected his model and is now sharing his knowledge to help you reach your revenue goals.
In today’s episode, Rylee shares his remarkable breakthrough from sleeping on his sister’s couch after an investment went south to making $2.1 million in sales within six months. He explains how a dinner seminar is one way to attract potential clients where you end up with the ones best fit for your business.
Money isn’t everything until you don’t have enough of it, then it becomes everything and it consumes you. – Rylee Meek
Outline of This Episode
[03:09] The event that changed his life
[06:36] A different concept of selling to customers
[14:21] Why conducting dinner seminars is effective in closing clients
[19:58] What happens during a dinner seminar
[26:00] Benchmark conversion rates from the dinner seminar
Why it is strategic to host a dinner seminar
Rylee mentions the corndog analogy, where you fish using corn dogs. Corn dogs cannot sustain a fish in the wild, but when you put a corn dog on the hook, the fish will still eat it. Once you’ve gotten the fish, that is when you develop the fish and nurture it.
With this analogy, getting as many people as possible in one dinner seminar is the key. After you have presented your product or service, you can weed out and catch the right clients that will be the best fit.
What transpires during a dinner seminar
What happens during the dinner seminar depends on the goal of the one conducting it. There might be presentations, PowerPoints, and videos shown. You take your guests on an emotional journey where you can solve their problems.
You build rapport as people start coming in, get a presentation going after the dinner has been ordered, and end the dinner with a question and answer portion. You have to let your personality shine through during the seminar to attract the right people.
Conversion rates of guests becoming clients
The conversion rate between the percentage of people invited to the percentage of deals closed after the event varies upon the product or service being offered. The numbers will always fluctuate, but you just have to trust the process.
If the product or service targets individual needs, then that would lead to a higher percentage of closed deals in comparison to where the market is for families considering that some guests attend the seminar as couples.
Resources & People Mentioned
Rylee Meek’s Website: http://socialdynamicselling.com/
Rylee Meek’s Personal Website: http://workwithrylee.com/
Rylee Meek on Facebook: https://www.facebook.com/TheRyleeMeek/
Rylee Meek on Twitter: https://twitter.com/ryleemeek
Check out his Book: https://www.amazon.com/Food-Thought-Marketing-Business-Possible/dp/1723873810
Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License
Connect With James and Dean
James P. Friel:
CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
Facebook Group: https://www.facebook.com/groups/hustledetox/
Site: https://jamespfriel.com/
Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
Interested in being a guest on the show?
Dean Holland:
Blog: www.DeanHolland.com
FB Page: https://www.facebook.com/DeanHollandHQ
Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/
Just The Tips Podcast:
Facebook Page:
Next Episode
How to Build Connections With David Gonzalez, Ep 140
Today’s guest has come full circle, from selling Mexican candies to connecting people to entrepreneurs with global resources. He is the founder of the Internet Marketing Party, which hosts insider events where one can discover how to double their business while having a cocktail or two.
David Gonzalez identifies himself as someone who is entrepreneurial. He works best with people who are already established in their niche of business.
In today’s episode, David joins James and Dean as they sit down and talk about several tips for establishing connections, strengthening those connections, and using them for the improvement of your own business.
Don’t think that you have to be a networker or connector to build relationships, you only have to be nice and complimentary. - David Gonzalez
Outline of This Episode
[04:26] Establishing the difference between a true entrepreneur and being entrepreneurial
[11:37] How David became a super-connector
[21:57] The things that people get wrong when it comes to creating business relationships
[25:51] The first step in forming a relationship
[27:20] David’s FORD method for making connections
How David made a career out of connecting people
After a lot of self-reflection, David believes that he is entrepreneurial and not a true entrepreneur. Knowing that he is good at making connections, he made a company that focuses on people getting connected with the right resources for them to double their business.
He started out making connections with people he didn’t need or want anything from. He then partnered with an integrator that was able to help him out by giving in-depth information about operations.
Two big mistakes that people make when trying to create a business relationship
The top two errors that most entrepreneurs make when they try to establish a relationship are understanding and curation.
What business people need to recognize is that one should understand their audience. It is vital to know people’s interests, what drives them, and how they are wired. Also, it is necessary to talk about their interests or to connect them with the right people to further such pursuits.
Why it’s important to have a genuine curiosity about the people you’re interested in
If you want to start a relationship, do not ask them what they do. Instead, ask them through the FORD method where questions revolve around Family, Occupation, Recreation, and Dreams.
David shares that he uses a particular framework to determine whether there’s good chemistry between him and the person he wants to create a relationship with. And if there’s no chemistry, he considers whether they’re a good match for someone in his network.
Resources & People Mentioned
David Gonzalez’s Website: https://internetmarketingparty.com/
Internet Marketing Party on Facebook: https://www.facebook.com/InternetMarketingParty/
Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License
Connect With James and Dean
James P. Friel:
CEO Quickstart: https://jamespfriel.com/ceo-quickstart/
Facebook Group: https://www.facebook.com/groups/hustledetox/
Site: www.jamespfriel.com
Facebook Group (BulletProof Business): https://www.facebook.com/groups/1107362546297055/
Interested in being a guest on the show?
Dean Holland:
Blog: www.DeanHolland.com
FB Page: https://www.facebook.com/DeanHollandHQ
Billion Dollar Project: https://www.facebook.com/groups/BillionDollarProject/
Just The Tips Podcast:
Facebook Page: https://www.facebook.com/justthetipsshow/
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