Introduction to guest:
Combining a background in email marketing and Ecology, Matt Treacey knows what it takes to build an ecosystem designed for growth.
Matt has generated millions of dollars in email revenue for businesses across the USA and UK.
He helps small business owners discover natural orders within their email databases, and how they can be leveraged to boost sales.
Subscribe to our YouTube channel to listen.
Key quotes and takeaways from the show:
Symbiosis: two organisms with different goals finding ways to work together.
Don’t try to do everything at once. Start small and gradually improve. Innovate by 10%.
Single metrics can make you blind. Look at the bigger picture.
TSC: Traffic to Subscriber Conversion. You want more subscribers per visitor. 15% to 18% TSC is considered very good.
Liebig’s law of the minimum: the growth of a plant is dictated not by total resources available, but by the scarcest resource. In the context of life: the system is limited by its weakest constraint.
Focus on the foundations first. That is the basis for a thriving ecosystem.
Pareto’s Law (the 80:20 principle) is all around us in business and nature.
The purpose for your website should not be to sell right away but to get a contact email address.
“Hyperspecific opt in”: Furthering the article with a specific piece of information that people can get through signing up to your email list.
Always be respectful when asking for an email address.
Entry level tools: Basic campaigns and automations. Examples are MailChimp & EmailOctopus.
Mid-Market Solutions: Everything you get from entry-level tools but with the added bonus of them being specifically made for certain types of businesses; for example, Shopify stores. Everything within mid-market solutions works perfectly for the type of business you’re running (e.g. a Shopify store). Examples are ActiveCampaign & Clavio.
Enterprise level tools: Will do everything but you need to know how to use them properly and all the functionality that they are capable of.
The stages of succession (from ecology): Dispersal (optimise for engagement) > Recruitment (optimise for conversions) > Establishment (optimise for lifetime value and repeat purchases).
Source–Sink dynamics: A Source ecosystem includes a stable or growing population of inhabitants. A Sink ecosystem includes lots of inhabitants entering on a cyclical basis and dying off regularly. You want your email list to be a Source ecosystem, not a Sink.
Monitoring engagement: Optimise for open rates and click rates and reduce unsubscribes.
Aggregation theory: Distributors (e.g. Amazon) no longer compete on exclusive supplier relationships, with consumers/users being an afterthought. Instead, suppliers (e.g. any business on Alibaba) can be commoditized leaving consumers/users as a first order priority. This means that the most important factor determining success is the user experience. The best experience earns distributors the most consumers/users, which attracts the most suppliers, which enhances the user experience in a virtuous cycle.
Facebook, Instagram, Youtube and others benefit from aggregation theory. They use your content to increase the user experience, feeding the virtuous cycle (see above). Owning your own email list and using curated content is a way to benefit from aggregation theory yourself.
5 states of awareness: Unaware > Problem Aware > Solution Aware > Product Aware > Most Aware.
To increase sales increase the timeliness and relevance of your offer. This is personalisation. Send offers to people when they are ready to receive them.
Links to podcast sites:
The full podcast:
For more podcasts on elite performance check out these related videos…
- 00:00:00 – Flooding in Sydney.
- 00:01:22 – Life lessons from ecology & email marketing.
- 00:11:12 – Frameworks for life.
- 00:15:52 – How to start in email marketing.
- 00:17:30 – Techniques to increase subscribers.
- 00:21:06 – Email marketing tools.
- 00:22:38 – How cheap & simple is email marketing?
- 00:25:16 – How to use your mailing list?
- 00:29:23 – Owning your contacts.
- 00:32:19 – Creating content for email.
- 00:36:41 – Do people read marketing emails?
- 00:39:44 – How to increase sales.
- 00:43:29 – A good example.
- 00:45:17 – Where Matt is stuck.
- 00:47:38 – An unknown recommendation.
- 00:49:11 – What to study.
- 00:49:54 – A recommended purchase.
- 00:51:20 – The Yowie
- 00:55:14 – Natural Orders
People and resources mentioned:
In alphabetical order:
- Ben Thompson
- Breakthrough Advertising by Eugene Schwartz
- Breakthrough Copywriting
- Digimodernism by Alan Kirby
- Five Bullet Friday
- Jeff Bezos
- Joseph Campbell
- Justus von Liebig
- McLuhan (Marshall McLuhan)
- Neil Postman
- On Growth and Form by D’Arcey Wentworth Thompson
- Seeing Like a State by James C. Scott
- Taylor Pearson
- The Magic of Thinking Big by David Schwartz
- The Seven Habits of Highly Effective People by Stephen Covey
- Vilfredo Pareto