Why we acquired Answer The Public. I own an ad agency called NP Digital. We're one of the fastest growing companies, according to Inc Magazine, at the 21st spot. And we have over 700 employees globally. But in the grand scheme of things, we're a really, really, really really tiny company, if you compare us to Apple or Google, or even companies like ExxonMobil. We really are tiny. And a lot of those companies grow through a simple channel. Can you guess what it is? It's acquisitions.
RESOURCES & LINKS:
Answer The Public: https://answerthepublic.com/
See, Google bought Nest for home thermostats, Google bought Waymo for their self-driving car division. Apple Beats by Dre, Facebook acquired Instagram, and the list goes on and on. In essence, large corporations buy companies, as it allows them to expand faster.
Now with Answer The Public, it has roughly 60% of the traffic as Ubersuggest, but it generates less than 10% of the revenue, as Ubersuggest. So right there, well we can fix that, and we should be able to 4 to 5x that number easy.
Now, of course we won't ruin the user experience, and we won't reduce the amount of free stuff that we offer. Actually, we're going to give you more stuff, in Answer The Public for free.
In other words, you're going to get more for free. You don't have to pay for it and you'll get more features. And by doing that, the product will become better and more popular over time. In addition to revenue, Ubersuggest drives roughly 30% of the customers, for my ad agency.
Answer The Public never tried selling to their leads. That is additional revenue stream there too. And Answer The Public, had zero people working on the product. When you're going from zero people to adding people, it's not hard to make something better.
In other words, we acquire the company, because we can make the product better, and give users more for free so they're happier. And collect more revenue through other offers, like offering people, like consulting, if they raise their hand and want it.
Of course we won't bombard them, we're not going to show popups with that stuff. It's more so, you keep the product as is, add more free features, and by doing that, it makes it more popular, and more people will end up paying for a premium version, and we may also generate some consulting revenue, from it as well.
Now, the point I'm breaking this all down in a video, because I don't have to share this, I can just talk about how we're giving away more stuff, for free, on Answer The Public, is because I want this to be educational. I want you to consider acquiring other companies, in your business, to grow. You don't have to just grow through marketing.
Yes, even though my ad agency does marketing, and it can hurt me to say that, it's true. There's other creative ways that you can grow, such as acquiring companies, and you should look at those channels as well.
Now, if you enjoyed this video, please like it, share it. If you want my ad agency to help you with your marketing, check out NP Digital. I hope you have a wonderful day. And if you have any questions, on companies you're looking to acquire, and you just want someone to answer it or check it out, leave a comment below, I'm always here to help.
► If you need help growing your business check out my ad agency Neil Patel Digital @ https://neilpateldigital.com/
#GrowthMarketing #NeilPatel #Acquisitions #BrandBuilding