Listen to episode 20
In the latest episode, Jamie talks about extreme capitalism and whether a business should always have a social purpose, Mat looks at a new invention to charge your phone on the go – from your head – and they both geek out over Lord of the Rings, but get a bit stuck on how it best relates to small business.
- The UK has one of the most extreme forms of capitalism in the world
- A report by Professor Colin Mayer, published by the British academy
- The report claims we need to rethink how business operates in the UK
- In the UK, shareholders are usually institutional investors which removes vested interests and create a profit driven environment
- The interests of the business are driven by a small number of individuals
- Is it acceptable to start a business solely to make money or should there be more to it than that?
- In the final marketing explained section, Mat quizzes Jamie on lead gen.
What is lead gen?
- Lead gen is converting someone who isn't yet a customer to becoming one
- You usually come across lead gen in B2B environments
- The aim is to capture as much information as you can to close the deal or make a sale
What are the key elements of lead gen?
- You want to offer potential customers something of value in exchange for their data
- Quality of content: The thing you are offering needs to be interesting and relevant to your business
- Data gateway: You have to be careful with how you present your content to your potential lead
- Sales process: Once you've captured your data, you need to come up with a follow-up strategy. Some people do recommend calling customers within the first hour
What's A-B testing?
- A-B testing is when you send half your users to a control page, and the other half to a page with one variation
- For example, you could send half your users to a page where your call to action button is red, and the other half to a version where it is green
- This allows you to monitor whether one version is more or less effective in terms of conversion
- You then keep adapting characteristics to develop a form or website that is optimised for your user
Brilliant or bonkers?
'All that is gold does not glitter,
Not all those who wander are lost;
The old that is strong does not wither,
Deep roots are not reached by the frost.
From the ashes, a fire shall be woken,
A light from the shadows shall spring;
Renewed shall be blade that was broken,
The crownless again shall be king.'
– Bilbo Baggins from JR Tolkien's The Lord of the Rings
Jamie Maddison is Head of Content Marketing at iwoca. He's written for a range of publications including Lonely Planet, Geographical, Diplomat, and Hidden Europe – and is the host of the ‘9 to when?’ podcast.
Article updated on: 4 December 2019