Episode 20: Light-harvesting helmets, lead gen, and Lord of the Rings

9 to when? is a podcast built for the captains of small business-shaped ships – braving the squalls and showers that come with being the master of your own destiny.

3 December 2019

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.

Show notes

News

  • 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?

Innovations

Marketing explained

  • 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

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Words by Jamie Maddison

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: 3 December 2019

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