The Relationship Acquisition Model: Rethink Your Customer Acquisition Strategy with Gord Vickman
Dec 19, 2024
auto_awesome
Gord Vickman, the podcast network manager for Strategic Coach, shares insights from his transition from radio to the booming podcasting world. He discusses the flaws in traditional advertising strategies and champions the value of relationship-building over mere transactions. Vickman highlights how AI can enhance efficiency and content creation but also poses ethical concerns. Packed with humor and personal anecdotes, he emphasizes nurturing audience connections as the key to long-term business growth.
Gord Vickman highlights the decline of traditional radio advertising effectiveness, prompting a shift toward targeted digital marketing strategies.
The podcast discusses the importance of nurturing audience relationships through valuable content rather than focusing solely on immediate profits.
AI's role in content creation is explored, emphasizing its potential to enhance efficiency while raising ethical questions about creativity.
Vickman reflects on the transformative experience of fatherhood, which inspires a commitment to thoughtful leadership and positive societal contributions.
Deep dives
The Transition from Radio to Podcasting
Gord Vickman shares insights into his shift from traditional radio to podcasting, driven by a bleak outlook on the future of radio. He observed a trend where radio stations were prioritizing profitability by cutting staff and hiring celebrities instead of nurturing new talent. This lack of opportunity in the industry pushed him to explore the podcasting space, where he found a new path to leverage his skills. Ultimately, this move proved beneficial as it connected him with the burgeoning podcast market, allowing him to grow professionally in a thriving ecosystem.
Understanding the Decline of Radio
The discussion highlights the struggles of the radio industry, particularly in adapting to changing demographics and consumption habits. Vickman notes the fragmentation of audiences, who now prefer digital platforms over traditional radio. Advertisements have lost their effectiveness as people increasingly skip over radio ads, driving revenue down. This decline has resulted in less investment in quality programming and talent, compounding the industry's issues as it fails to develop the next generation of broadcasters.
Inflexible Marketing Strategies
The podcast delves into the evolving landscape of marketing, emphasizing that traditional radio advertising cannot compete with targeted online marketing. As businesses focus on digital platforms for advertising, many radio ads become irrelevant, particularly to younger demographics. The conversation suggests that conventional marketing strategies are becoming outdated as consumers increasingly rely on online research before making purchases. This shift indicates a need for companies to adapt their advertising methods to reach their target audiences effectively.
The Role of AI in Content Creation
Discussion on the implications of AI in production processes reveals its transformative potential in content creation. Vickman describes innovative AI tools, such as voice cloning and automated transcription, that streamline workflows and enhance audio quality without requiring extensive human input. While these advancements can improve efficiency, the conversation raises ethical questions about AI's role in creativity, suggesting it should complement rather than replace human contributions. Overall, the integration of AI helps balance speed and quality, but advocates maintain that human creativity remains irreplaceable.
The Importance of Relationship Building
A key takeaway from the podcast is the strategic approach to building relationships through content rather than focusing solely on immediate profits. The podcast network under Vickman's supervision emphasizes marinating potential clients in valuable content over time without aggressive sales tactics. This method nurtures future clients who appreciate the insights provided, eventually leading them to seek out coaching services when they're ready. The long-term relationship acquisition strategy fosters a sense of community and establishes value beyond direct financial returns.
Navigating Parenting in a Complex World
Gord Vickman reflects on the transformative experience of fatherhood, emphasizing the heightened sense of responsibility it brings. He describes how parenthood inspires a desire to improve the world for future generations, contrasting this with nihilism. The need to protect and guide children fuels a commitment to create a safer and better environment, redefining Vickman's purpose in life. Through this lens, he sees the importance of thoughtful leadership and contributing positively to society as an engaged parent.
Adapting to a Constantly Changing Landscape
The podcast emphasizes the dynamic nature of content consumption, especially regarding audio and visual media. Vickman highlights that simply having good content isn't enough; it must also be presented in an engaging manner to capture and retain audience attention. He suggests that as technology and societal expectations evolve, so too must content strategies, adapting to audience preferences for formats that blend entertainment and value. This adaptability becomes crucial in competing for time in an era characterized by myriad choices for content consumption.
Matt Levine sits down with Gord Vickman to discuss the "Relationship Acquisition Model," showing how nurturing audience relationships builds loyalty and drives long-term business growth.
Gord shares ways to monetize podcasts without ads, leverage AI for efficiency, and create content that truly resonates. Packed with actionable insights, this conversation will change how you think about audience building and acquiring customers.
Gord Vickman is the podcast network manager for Strategic Coach, where he directs all aspects of production, post-production, and distribution for their eleven podcasts.
Gord starts by describing why he left radio and made the switch to podcasting.
According to Gord, people are so online these days that no one's sitting in their car listening to radio ads anymore. This caused radio revenue to plummet and with that, the ability for radio stations to hire competent talent.
What happened to the radio audience? For Gord, many people still listen to the radio. But people are no longer purchasing products from radio ads.
The reason radio ads no longer work is that they’ve always been spray and pray. Just push out ads and pray that one person who’s in the market for your product hears your ad and proceeds to buy using your coupon code.
Matt and Gord agree that marketers today lack patience. They have the “I want success now” mentality, yet not all marketing channels are about producing instant results.
Marketing is not just about a one-off transaction; it’s about building trust, awareness, and relationships.
Gord and Matt talk about Perplexity AI--a free AI-powered answer engine that provides accurate, trusted, and real-time answers to any question.
Gord explains what a strategic coach is and why it’s not just another business coaching program.
Gord breaks down the Relationship Acquisition Model, RAM.
For Strategic Coach, they don't sell ads on their shows and that's by design because host Dan Sullivan wants them crisp and clean.
What most people don’t understand about the podcast sales funnel is that it needs patience. You can’t put out an ad and expect people to sign up immediately; sometimes it can take years before you get a return.
The key lies in stacking as much value as you can upfront. Value builds trust, creates loyalty, and positions you as someone worth paying attention to.
Matt compares podcast advertising today versus podcast advertising in 2006.
The best compliment to a service is your people never complain. Unfortunately, the only time businesses interact with people is when they’re complaining.
Gord explains how podcasts can still make money without ads or direct monetization.
Gord breaks down the key elements of cash confidence and why it’s impossible for two entrepreneurs to work together if they don’t have cash confidence.
It's kind of misguided in terms of how people think they're going to make money from podcasts. Yes, you can make money from podcasts by selling ads, but nobody will want to talk to you unless you have 25K downloads.
How to know the average lifetime value of your customers.
Matt and Gord talk about the scary and exciting future of AI.
Gord shares his thoughts on permanence of disbelief and why you can’t believe everything you see.
Podcasting is in the entertainment business. You’re not competing against other podcasts. You’re competing against all the other things that person could be doing at that time.
Matt believes AI will continue evolving but he doesn't see an end state where AI does everything.
Gord shares how fatherhood changed his perspective on the world.
