The Rational Reminder Podcast
Episode 274: A Live 5-Year Rational Reminder Retrospective (and Creating Superfans with Brittany Hodak)
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- Consistency and dedication in producing weekly episodes have helped the Rational Reminder Podcast build a dedicated audience and sense of community around their content.
- Low-cost index funds serve as a great starting point for portfolios, and historical perspectives from experts are valuable for decision-making.
- Cultivating superfans is essential in today's experienced economy, and businesses should focus on storytelling, building human connections, and creating positive experiences.
Deep dives
The Value of Consistency and Building a Community
One of the reasons for the success of their podcast is the consistency they have maintained, producing an episode every week without fail. This commitment has allowed them to build a dedicated audience and a sense of community around their content. They emphasize the importance of enjoying the work and continuously learning and improving.
Key Takeaways from the Podcast Journey
Through their podcast, they have learned valuable insights, such as the absence of an optimal investment strategy. They have discovered that low-cost index funds serve as a great starting point for portfolios. Another key takeaway is the intersection of happiness and well-being with financial advice, which influences their approach to client relationships and decision-making. Additionally, they highlight the value of historical perspectives from experts and regret not implementing video earlier in their podcast.
Overcoming Challenges and Future Plans
They discuss challenges faced, such as facing backlash from certain episodes and the importance of maintaining passion and enjoyment in the podcasting process. Looking ahead, they express their openness to continue the podcast as long as they find it fulfilling and interesting, with no immediate plans to stop. Lastly, they stress the significance of creating valuable content and building a community around it, which can greatly benefit one's business or endeavors.
The Importance of Building Super Fans
The podcast episode discusses the concept of creating superfans, which are customers who are so delighted by their experience with a brand that they become advocates for it. These superfans bring in more qualified customers through word-of-mouth recommendations and have a higher lifetime value. The episode emphasizes the need for businesses to differentiate themselves in an experienced economy, where customer expectations are constantly rising. It also highlights the importance of teamwork in winning new business, as every member of a team plays a role in shaping the perception of a company. The episode concludes by emphasizing the power of storytelling and the impact it has on creating superfans.
The Supermodel Formula for Creating Superfans
The episode introduces the Supermodel formula, a five-step framework for turning customers into superfans. The formula starts with understanding the uniqueness of a brand and its story, and then dives into understanding the customer's story and their needs and desires. It highlights the importance of empathy and building a human connection with customers. The episode also emphasizes that the best marketing doesn't cost anything and encourages businesses to focus on creating positive experiences that lead to word-of-mouth recommendations. Overall, the Supermodel formula provides practical strategies for businesses to cultivate superfans and drive customer loyalty.
The Impact of the Podcast and Community
The episode features feedback from listeners who express gratitude for the podcast's educational content and its impact on their financial planning and life decisions. The episode highlights the strong bond within the rational reminder community, where members engage in quality discussions and share knowledge. The hosts discuss the satisfaction of connecting with listeners at live events and receiving positive reviews and messages that validate the value of the podcast and community. The episode concludes by teasing upcoming episodes featuring renowned guests, highlighting the ongoing 23 and 23 reading challenge, and expressing excitement for future episodes and the continued growth of the podcast.
In this episode, we are trying something different. Recorded live at the CFA Society’s Toronto Annual Wealth Conference, we take an exclusive look at the origins and evolution of the Rational Reminder Podcast through an interview with Ben and Cameron. From motivations for starting the podcast to favourite episodes and guests, we delve into the behind-the-scenes of the show. Discover how the podcast has grown, the impact it's had on listeners, and the exciting global reach it's achieved. Get an exclusive look at the challenges, regrets, and valuable lessons learned along the way. Then, we are joined by Mark McGrath to explore common pitfalls of ITF accounts, providing listeners with valuable information to help them make the right decisions for their investments. Finally, we welcome special guest Brittany Hodak, author of Creating Superfans, which unpacks the concept of turning customers into passionate fans of your brand. Brittany shares her insights on the power of storytelling in business and how to create Superfans who will champion your brand. We explore the concept of the experience economy, the right approach to investing in marketing for your business, and much more! Join us for this extraordinary episode that blends wealth management insights, podcasting wisdom, and the secrets to cultivating Superfans. Whether you're a long-time Rational Reminder listener or a business owner seeking to supercharge customer loyalty, this episode has something for everyone. Tune in now!
Key Points From This Episode:
(0:04:32) Introduction to Ben and Cameron’s interview at the 2023 Annual Wealth Conference.
(0:07:15) Learn about the average listener base for the show, the active Rational Reminder community, and how the podcast has grown over time.
(0:10:08) The global reach of the podcast, how it has benefitted business, and a look back at the first episode of Rational Reminder.
(0:13:19) What Ben and Cameron originally envisioned, how they met, and what motivated them to start a podcast.
(0:15:17) Insights into the cost of the show, the shift from audio only, and the appetite for long-form content.
(0:18:18) Their favourite episodes and guests, keeping content balanced, and how the reading challenge was started.
(0:25:25) Attracting big industry names to the podcast, their dream guests, and the episodes that did not go to plan.
(0:31:28) Advice for aspiring podcasters, the amount of work the show takes, and their biggest lessons so far.
(0:37:02) Ben and Cameron share their reading habits and the books they think everyone should read and why.
(0:40:14) Why they work so well together, plans for the future, and what they wish they knew before starting the podcast.
(0:43:14) Ben and Cameron each share their definition of success, and final words of advice for listeners.
(0:45:46) Mark to Market: exploring the ins and outs of ITF accounts to avoid common mistakes.
(0:55:04) Introducing today’s guest, Brittany Hodak, and her fascinating book, Superfans.
(0:56:51) Brittany explains some basic definitions and the power of storytelling for your business.
(0:59:50) Why storytelling has become a potent marketing technique, and why Superfans are important to building a successful business.
(1:02:53) Unpacking the Superfan personality, how they can be created, and identifying your customer’s story.
(1:08:47) Defining the experience economy and its impact on customer expectations.
(1:12:38) Recommendations for how businesses should approach investing in marketing.
(1:14:11) The after-show: trip highlights, listener reviews, and more!
Books From Today’s Episode:
The Fiscal Theory of the Price Level — https://www.amazon.com/Fiscal-Theory-Price-Level/dp/0691242240
How to Change — https://www.amazon.com/How-Change-Science-Getting-Where/dp/059308375X
Get It Done — https://www.amazon.com/Get-Done-Surprising-Lessons-Motivation/dp/0316538361/
Your Future Self — https://www.amazon.com/Your-Future-Self-Tomorrow-Better/dp/B0BJ554T6M/
Like the Best Podcast — https://open.spotify.com/show/22fi0RqfoBACCuQDv97wFO
Deep Work — https://www.amazon.com/Deep-Work-Focused-Success-Distracted/dp/1455586692
Storyworthy — https://www.amazon.com/Storyworthy-Engage-Persuade-through-Storytelling/dp/1608685489
Financial Market History — https://www.amazon.com/Financial-Market-History-Reflections-Investors-ebook/dp/B06WVBHK72/
The Great Depression: A Diary — https://www.amazon.com/The-Great-Depression-audiobook/dp/B0030HF9F6/
Using Behavioral Science in Marketing — https://www.amazon.com/Using-Behavioral-Science-Marketing-Instinctive/dp/1398606685/
Clear Thinking — https://www.amazon.com/Clear-Thinking/dp/0593716213
Links From Today’s Episode:
Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — https://rationalreminder.ca/
Shop Merch — https://shop.rationalreminder.ca/
Join the Community — https://community.rationalreminder.ca/
Follow us on X — https://twitter.com/RationalRemind
Follow us on Instagram — @rationalreminder
Benjamin on X — https://twitter.com/benjaminwfelix
Cameron on X — https://twitter.com/CameronPassmore
Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
Mark McGrath on X - https://twitter.com/MarkMcGrathCFP
Mark McGrath on LinkedIn - https://www.linkedin.com/in/markmcgrathcfp/
Brittany Hodak — https://brittanyhodak.com/
Brittany Hodak on X — https://twitter.com/BrittanyHodak
Brittany Hodak on Instagram — https://www.instagram.com/brittanyhodak/
Brittany Hodak on Facebook — https://www.facebook.com/BrittanyHodak
Brittany Hodak on LinkedIn — https://www.linkedin.com/in/brittanyhodak/
Creating Superfans — https://www.amazon.com/Creating-Superfans-Five-Step-Multiplying-Reputation/dp/1774580780
Annual Wealth Conference 2023 — https://web.cvent.com/event/874a7379-a0cb-4b91-ad18-c46daf17b685/summary
Rational Reminder Episode 1: The Cheapest Advice Probably isn't the Best — https://rationalreminder.ca/podcast/1
Rational Reminder Episode 100: Prof. Kenneth French — https://rationalreminder.ca/podcast/100
Rational Reminder Episode 169: Prof. John Cochrane — https://rationalreminder.ca/podcast/169
Rational Reminder Episode 171: Prof. Campbell R. Harvey — https://rationalreminder.ca/podcast/171
Rational Reminder Episode 200: Prof. Eugene Fama — https://rationalreminder.ca/podcast/200
Rational Reminder Episode 224: Prof. Scott Cederburg — https://rationalreminder.ca/podcast/224
Rational Reminder Episode 226: Colonel Chris Hadfield — https://rationalreminder.ca/podcast/226
Rational Reminder Episode 268: Itzhak Ben-David — https://rationalreminder.ca/podcast/268
Rational Reminder Episode 271: Expected Returns of the AI Revolution (plus People are Lying to You About Money w/ Anthony Walsh) — https://rationalreminder.ca/podcast/271
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