How can businesses can stay ahead of the curve and future-proof their content strategies by leveraging AI tools and techniques? Check out this interview with Neil for practical tips and insights on how to create content that resonates with audiences in the age of AI and predicts the trends that are likely to shape the future of content marketing.
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TAM stands for the total addressable market. If you go after it, it's almost the same amount of work to market a small niche business as it is to market in a really large business. So might as well go after a large business because it's hard to gobble up a hundred percent of a large but niche. While it's much easier to gobble up a fraction of a percent of a hundred billion dollar market. So go after a large market. The second one is after you got a large market, is you need to figure out what you can give to disrupt the industry. So for example, if you're going after health insurance, you can give away payroll software for free to then generate more sales for health insurance. 'Cause people who pay for payroll software, they typically also provide their employees health insurance, right? So instead of charging them for what they're used to paying for, you then end up saying, "Hey, we'll give you this thing that doesn't cost "us much here for free and we're going to make a lot of money "charging you for this much bigger thing, "which is health insurance." And then the next part is, is you just got to go omnichannel. So from the TikTok to Instagram to Facebooks to Google, there's not one channel that does well. They all are end up getting crowded and are competitive. So you got to leverage all of 'em. And other than that, you know, you just got to execute on it and give it time. But those are the main three elements. Of course there's a lot of other things involved in marketing to make each of those things work. I oversimplified it, but those are some of the three key things that people mess up on. They don't pick a big enough tam, they don't figure out how to disrupt a market and they think that they can grow a business to being really amazing with just one channel. You can start off with one channel, but eventually you got to expand into all of them.
So as a small business, honestly, I wouldn't worry about implementing AI much at all right now. Instead, I would just use the tools to help you get some of your work done. So people look at AI as like, "Hey, let me see if I can integrate in my marketing "and just do it for me." AI is not there yet. It's not the, we're not at a point in time where you can just rely on AI to do everything that you need perfectly. It's just like when search engines first came out, a lot of the results were crap. Google showcased barred with the error and or misinformation, not in a bad way, but it was just inaccurate. And the market cap dropped by billions of dollars. Chat GPT is inaccurate in so many ways. You should see how many times we use chat GPT and it's plagiarizing content just to be super transparent, it's nowhere near perfect. But where as a business owner, you could be using ai right now in your marketing is if you take an omnichannel approach, which we talk about in a formula to do really well in marketing, you had to create content, AI can help you spearhead that content creation. Coming up with the concepts and ideas, titles stream and blog posts or content for social media and even creating it. Then you need to go out there and modify the content and make sure it represents you and it's accurate and it's what you want. Content by AI isn't good enough to just post. Yes, the Ryan Reynolds example was pretty good, but that is not the majority of the cases with ai.
The biggest mistake is they think AI is perfect and then they just use it and they just expect the results are going to be great, that's the first one. The second mistake that we see is, is are going out there at least in marketing and they're just like, let me go create tons of content on everything within my industry so I can catch up with my competition. You can do a search for anything on the internet.
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