Marketing Missteps: What Went Wrong at TNC?
Description
Welcome to a new episode of Business Lunch! In this episode, Roland Frasier and Ryan Deiss share insights on the challenges faced during the acquisition and management of the Traffic and Conversion Summit. They discuss the importance of understanding community dynamics versus content value, the pitfalls of corporate decision-making, and how these factors contributed to the event's struggles.
Highlights:
"If you're going to do acquisitions, you need to be really clear on exactly what it is that you're buying."
"The hardest thing in the world to do is to create a place, but you can lose that way faster than it takes to build."
"You cannot let bean counters make business decisions."
"The consulting firm that advised them not to buy Digital Marketer gave some of the worst advice they probably ever paid for."
Timestamps:
00:00 - Introduction
01:54 - Community vs. Content
08:18 - Pre-Pandemic Sales Struggles
10:00 - Financial Implications of the Pandemic
12:35 - Lessons Learned from the Deal
15:30 - Importance of Community Involvement
17:00 - Consequences of Poor Marketing Decisions
20:15 - The Role of Digital Marketers
22:40 - Strategic Partnerships and Growth Opportunities
25:00 - Reflections on Corporate Culture
28:15 - The Future of Events Post-Pandemic
30:40 - Closing Thoughts on Acquisitions
37:22 - Episode Conclusion
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