I think you should use humans combined with AI. But a lot of people most people in marketing just take the route of AI is just going to do it. And then this output is this crap. Here's, here's a random one.
โWhat's the most expensive mistake you'll admit to on air?โ
I'll admit to almost all of them. I, or actually, I would admit to all of them. I just don't remember. Uh, I can, I can name a few acquiring companies that I would have to clean up the management. And the structure, but they had to reach the clientele, the logos. It would have just been cheaper to build it from scratch.
And I learned just acquire growing companies that don't need much modeling with. This is why private equity goes that route as easier. Biggest marketing mistake running a ton of TV ads on like CNBC and Bloomberg thinking it was going to help us get the right type of clients. Got a ton of branding with finance people. Keep getting calls from potential wealth managers.
Uh, didn't really generate a look of business. Spin a arm and a leg on that. I don't know how much, but it wasn't like 100, 200 grand. Like it was way more than that. We were spending more than that just on TV ads, sometimes in a given week.
I think our commercial to produce it. I don't know how much it was. Call it 100 grand. But not not not when you'd repeat. Yeah.
Branding scraper branding to everyone in the masses is never a good thing.
Building a social falling for the masses. Never a good thing unless you're going. You know, be to see, but even be to see you need the right audience. I'm a big believer. Focus on building a big brand with your ideal customers.
Like really focus on your ICP even if you're in B to C. I should have started this with at the beginning.
โBut just describe what is the Neil Patel universe right now?โ
Like what does your what is your focus spent on on a day to day basis. Most just NP digital. I think it's all speaking our conferences, sales pitches, marketing content, meetings, business employees. The works.
What is NP's digital? I guess you're an omnichannel digital marketing agency at this point. But what what does the breakdown of like the services you provide most kind of look like? Most is paid ad management SEO genius like ranking on chat GPT or game. I'm to mention you conversion optimization.
I would say those are content marketing, social media marketing. Those are probably the biggest ones. Do you invest in brands like e-commerce? Yeah. Not our cup of tea.
I was going to say, what do you think of the e-commerce opportunity over the next couple years? I guess we mentioned merchants are really empowered. But what's your, yeah, what's your take on that?
โYeah, I think the e-commerce opportunity is massive.โ
You just have to create a really good product. I'm a B to B guy. If you look at all the businesses that I've created, they're pretty much B to B companies. I just stay in my lane. Yeah.
I don't think there's anything wrong with e-commerce just not my lane. Yeah, fair. What's the best money you've ever spent on yourself? If I had to say best money, just like myself, not family or anything like that. I would say probably things related to health and fitness, longevity.
If you sleep better, like you buy a nice mattress or you work out more, you know, you'll function better. I don't know how much my mattress costs. It's not the most expensive, but it's not the cheapest. It is expensive, but there's mattresses that go for 100 grand, 200 grand. I don't know how much my mattress costs.
Maybe 20,000 bucks or something like that, which I would say is expensive for a mattress. I could be wrong.
But you spend college a third of the day sleeping.
So why not make sure that you're energized that you work better? I want to know what this. Do you said 20,000 dollar mattress? How big is that bed? Does it king bed?
Normal king. Nice. Where do you see this whole, like, do you have any predictions? Obviously, you're on the cutting edge of, you know, LLMs and LLMs shopping. We're actually about to release and July.
A big report where we're surveying a bunch of consumers and a bunch of merchants about the state of AI discovery. And one of the things that I think is interesting is people are giving away more and more. Not they're using these tools more and more. And it's helping compress the middle of the funnel a little bit, where you're just getting really good answers.
But it might get to the point where you actually have sort of an AI and always on AI assistant who will even potentially make purchases for you.
You know, with just an OK from you or, or something like Jimmy predictions about where you see AI commerce kind of developing over the next couple years. Yeah, so what you said, but think of even more. Imagine you opening up your fridge and AI can read what you're eating on a regular basis. Like your vitals by, you know, doing a prick when you open the door, reading some diagnostics or weighing you or just looking at you or your posture or whatever it may be. And recommending new foods, recommending cheaper alternatives, recommending healthier alternatives, and then it just gets delivered to your house and stocking your fridge by a robot.
That is what I think the future of commerce is but for almost everything. I think things are offline will be really integrated with your online and that is how a lot more transactions will happen. If you think it will get to the point where if you don't take the advice of your AI, your taxes will go up.