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[00:00:00.880 --> 00:00:05.680] Hey, Entrepreneurs, it's Steph here with a special invite just for you.
[00:00:05.680 --> 00:00:10.800] Do you want to experience what it's like to be part of our Entrepreneursa League community of founders?
[00:00:10.800 --> 00:00:12.400] Now is your chance.
[00:00:12.400 --> 00:00:21.360] You can join me this month at one of our upcoming Entrepreneursa League info sessions where I'm going to share with you all you're going to get access to when you join the community.
[00:00:21.360 --> 00:00:27.040] Plus, I'll be giving away some big bonuses that you will only be able to get access to when you attend live.
[00:00:27.040 --> 00:00:35.600] Head over to refer.entreprenista.com forward slash info session to join us at one of our virtual info sessions this month.
[00:00:35.600 --> 00:00:40.640] That's refer.entrepranista.com forward slash info session.
[00:00:40.640 --> 00:00:44.560] Or head over to the show notes right now and tap the link to join us.
[00:00:44.560 --> 00:00:49.280] I can't wait to meet you there and learn more about you and your business.
[00:00:49.920 --> 00:00:52.880] The first thing to start with is just who your customer is.
[00:00:52.880 --> 00:01:01.360] And I know that that's like so basic, so first principles, but I think it can candidly get a bit lost in all of the tips that you see out there, all the education out there.
[00:01:01.360 --> 00:01:04.960] Really, the success of your strategies is going to depend on how well you know your customer.
[00:01:04.960 --> 00:01:22.160] So your definition of that customer, how much time you spend with them and like how deeply you understand them, both from like a tactical, what are they trying to do that you're helping them do, whether that's like you're giving them a physical product or you're helping them with the workflow like we're doing at Relay, all the way up to the emotional side of their work.
[00:01:26.320 --> 00:01:31.680] Today we have such a special episode for you and one that can truly benefit you and your business.
[00:01:31.680 --> 00:01:37.200] Eleni Deakin is the VP of marketing at Relay and she's about to share all her secrets with you.
[00:01:37.200 --> 00:01:46.720] Relay is one of our incredible partners at Entrepreneur and they are all about helping business owners have complete control over what you're earning, spending, and savings.
[00:01:46.720 --> 00:01:56.400] So, regardless of your industry, the insights that she's about to share will transform your approach to marketing and understanding your customers and data-driven business strategies.
[00:01:56.400 --> 00:02:05.880] So, get ready because Eleni is sharing all her secrets with you and why having the right resources is essential to building and scaling your business.
[00:02:08.120 --> 00:02:11.560] This is the Entrepreneur Podcast presented by Socialfly.
[00:02:11.560 --> 00:02:22.200] It's the best business meeting you'll ever have with must-hear real-life looks at how leading women in business are getting it done and what it takes to build and grow a successful company.
[00:02:22.200 --> 00:02:28.200] It's beyond the Graham with no filters, no limits, and plenty of surprises.
[00:02:34.280 --> 00:02:39.000] Eleni, I am so thrilled to finally be recording this episode with you.
[00:02:39.000 --> 00:02:44.760] I have to share with our whole community right now that we have been literally counting down the days.
[00:02:44.760 --> 00:02:57.320] We've been planning this recording for a very long time, and we are so thrilled because Relay has partnered with Entrepreneursa because you wanted to share incredible solutions and financial solutions with our community.
[00:02:57.320 --> 00:03:09.240] And I wanted to be sure to have you on the podcast to be able to share all of these resources at scale with not just the members of our Entrepreneursa League, but our entrepreneur community at large and our podcast listeners.
[00:03:09.240 --> 00:03:12.840] Because what you have all created at Relay is so important.
[00:03:12.840 --> 00:03:22.120] I talk about this on the podcast all the time and in the community: that if you are going to build a profitable, scalable business, you need to be sure you are building a profitable business.
[00:03:22.120 --> 00:03:25.400] And the only way to do that is to know your numbers, and you have all of those solutions.
[00:03:25.400 --> 00:03:28.760] So, thank you so much for sitting down with me this afternoon, Eleni.
[00:03:29.080 --> 00:03:29.720] I love that.
[00:03:29.720 --> 00:03:30.520] Thank you so much.
[00:03:30.520 --> 00:03:31.880] We love Entrepreneur.
[00:03:31.880 --> 00:03:33.800] I'm so excited to be here.
[00:03:34.120 --> 00:03:35.640] Excited for this conversation.
[00:03:35.640 --> 00:03:44.720] And I have to share this too before we even dive in because I want all of our members and listeners to hear all about your career journey and background, what led you to Relay?
[00:03:44.440 --> 00:03:49.600] But I was actually texting with one of our members, Sam Gold.
[00:03:49.680 --> 00:03:53.920] She just launched her brand new business, this kid's pajama brand called Motet.
[00:03:53.920 --> 00:03:55.600] It is, I have her products ready.
[00:03:55.600 --> 00:03:57.280] We are the softest pajamas.
[00:03:57.600 --> 00:04:00.000] And we were texting because she had all these questions for me.
[00:04:00.000 --> 00:04:03.840] And she shared with me, she just signed up to bang with Relay and she loves it.
[00:04:03.840 --> 00:04:05.920] And she signed up because of our partnership.
[00:04:05.920 --> 00:04:12.400] Because one of our members, who is a bookkeeper and accountant, she's also working with Relay now through our partnership.
[00:04:12.400 --> 00:04:14.560] And she's been recommending Relay to our members.
[00:04:14.560 --> 00:04:16.240] I was so excited to hear that.
[00:04:16.240 --> 00:04:18.080] That is awesome to hear.
[00:04:18.320 --> 00:04:23.360] I feel like perhaps little known fact, but Relay actually got our initial traction through accountants and bookkeepers.
[00:04:23.360 --> 00:04:24.640] We love accountants and bookkeepers.
[00:04:24.640 --> 00:04:26.240] We work really closely with them.
[00:04:26.240 --> 00:04:29.520] And that relationship is just so important for a business owner.
[00:04:29.920 --> 00:04:34.320] That really close tie with your accountant or bookkeeper can really be a huge unlock as a business owner.
[00:04:34.320 --> 00:04:35.440] That's awesome to hear.
[00:04:35.440 --> 00:04:36.080] Absolutely.
[00:04:36.080 --> 00:04:39.520] And I think, you know, we'll get into this when we talk all about marketing and marketing strategy.
[00:04:39.520 --> 00:04:41.680] But like when you think about any business, right?
[00:04:41.680 --> 00:04:46.720] It's like who is the who are going to be those core referral partners that are going to spread the word about your business.
[00:04:46.720 --> 00:04:59.440] And of course, when you have a financial company, the centers of influence for finances for a business owner are those bookkeepers and accountants and people that are touching the financial being of the business.
[00:04:59.440 --> 00:05:04.480] So that makes perfect sense that they were your initial, you know, early adopters of the platform.
[00:05:04.480 --> 00:05:13.440] So, all right, before we get all excited about all of these great things at Relay, because I could talk about it all day long, you know, I want our members and our listeners to really understand you, Eleni.
[00:05:13.440 --> 00:05:16.800] Like, what led to you starting to work at Relay?
[00:05:16.800 --> 00:05:23.840] You have this incredible marketing background, which I know our members are going to be so excited to just learn from you as marketing changes every single day.
[00:05:23.840 --> 00:05:25.200] But what led you to Relay?
[00:05:25.360 --> 00:05:27.120] So, Relay is my second startup.
[00:05:27.360 --> 00:05:32.040] I had previously joined a business that was at a similar stage to where Relay was when I first joined Relay.
[00:05:32.040 --> 00:05:35.480] So, you know, pre-1 million in revenue, early days of a business.
[00:05:29.840 --> 00:05:37.000] That had been an incredible experience.
[00:05:37.240 --> 00:05:39.080] I spent about five years there.
[00:05:39.240 --> 00:05:44.600] I took a bit of time off after that and was just kind of exploring new opportunities at a certain point.
[00:05:44.840 --> 00:05:47.800] What took me to Relay was I think three key things.
[00:05:47.800 --> 00:05:49.720] One was the product itself.
[00:05:49.720 --> 00:06:02.600] Actually, I feel like this is, you know, a really big piece for me: I watched a demo of the product again super early in Relay's journey, and the guy on the other side who was receiving the demo said, finally, finally, finally, finally, finally.
[00:06:02.600 --> 00:06:05.400] And I didn't even really, you know, understand what I was watching.
[00:06:05.400 --> 00:06:07.320] I didn't really understand what the tool was.
[00:06:07.320 --> 00:06:15.640] But seeing a reaction like that from a potential customer, it was clear: A, there was something really broken in his workflow that he was really excited to have fixed.
[00:06:15.640 --> 00:06:18.440] And B, that this was like true enthusiasm.
[00:06:18.440 --> 00:06:25.480] And for me as a marketer, getting behind a customer base that truly loves your product is just really fun and really exciting.
[00:06:25.720 --> 00:06:33.320] I think the second piece was marketing to small business owners, a huge market, just really fun people that inspire me.
[00:06:33.640 --> 00:06:44.440] For me as a marketer, again, the idea of so much opportunity, so many different tactics that you can test, so much creativity you can put out there, and people who really care about what they're doing.
[00:06:44.440 --> 00:06:49.640] That market and just the small business owners themselves, the idea of spending a lot of time with them really excited me.
[00:06:49.800 --> 00:06:57.560] And the third was the team I have known, the CEO of Relay since, you know, before joining Relay, we work in the same city, we're in the same ecosystem.
[00:06:57.560 --> 00:07:02.360] So having had that baseline relationship got me excited about working together more closely, too.
[00:07:02.360 --> 00:07:02.760] Yeah.
[00:07:02.760 --> 00:07:03.960] Well, that's what it's all about.
[00:07:03.960 --> 00:07:06.040] I talk about this all the time: relationships, right?
[00:07:06.040 --> 00:07:13.560] That is the key to success in life and in business: building relationships with other amazing humans.
[00:07:13.560 --> 00:07:18.400] And when opportunities come, when you've built these relationships, that's when that's when these doors open.
[00:07:18.400 --> 00:07:22.160] Eleni, what was your marketing background prior to taking the job at Relay?
[00:07:22.480 --> 00:07:28.640] Yeah, I've had a bit of a kind of a winding journey towards being, you know, startup scale-up marketer.
[00:07:28.800 --> 00:07:33.680] I spent most of my 20s, you know, first decade of my career, not explicitly in marketing at all.
[00:07:33.680 --> 00:07:35.600] I was an English major.
[00:07:35.600 --> 00:07:39.280] I was interested in writing and I was interested in arts and culture, really.
[00:07:39.280 --> 00:07:41.280] And I kind of saw a career in that field.
[00:07:41.280 --> 00:07:52.320] I spent most of that first decade doing contract work, quite honestly, a mix of comms, PR, copywriting, a little bit of marketing, mostly at arts and culture organizations, film festivals, and things like that.
[00:07:52.560 --> 00:07:56.480] I really actually use that experience, I think, every day now in my work in tech.
[00:07:56.480 --> 00:08:03.760] The storytelling elements, the scrappiness, it all has really translated over and been, you know, a really good kind of starting ground for me.
[00:08:04.000 --> 00:08:10.480] I got my first entry into the startup world through kind of a writing and content job at my previous startup.
[00:08:10.480 --> 00:08:20.160] And it all kind of clicked for me when I was able to bring the creative side together with the quantitative side of marketing and see those two things work together in action.
[00:08:20.160 --> 00:08:30.880] I never really expected myself to be somebody who was in tech or working in startups, but seeing the results of your effort, which I'm sure is something very satisfying for your community too.
[00:08:30.880 --> 00:08:37.520] You know, you're really putting in the sweat equity and you're a sweat labor and you're sort of seeing the growth that you're creating.
[00:08:37.520 --> 00:08:39.840] That really was so exciting for me.
[00:08:40.080 --> 00:08:45.200] And that from there, I just really fell in love with kind of startup world building, building basically.
[00:08:45.360 --> 00:08:59.600] Yeah, no, I just feel like every word of what you're sharing, we had, I was sharing with you before we started recording, we had our community town hall today that we do every quarter to share all the latest updates and wins and everything that's been happening for our members in our community and what's ahead.
[00:08:59.800 --> 00:09:13.160] And just every day in our community, just seeing everyone connect and doing business together and learning from each other and knowing like how much work Courtney and I have done behind the scenes for many, many years to build Entrepreneursa to what it is today.
[00:09:13.160 --> 00:09:18.040] Like there's nothing that feels better than building something that's impactful.
[00:09:18.040 --> 00:09:25.640] And so many of the members in our community are building businesses like this and then can see essentially the fruits of their labor.
[00:09:25.640 --> 00:09:29.720] And it just, it feels so good to actually be able to see that.
[00:09:29.720 --> 00:09:35.320] Yeah, the tactileness of being like, we were here and now we're here and it's really obvious.
[00:09:35.320 --> 00:09:36.280] I love that.
[00:09:36.280 --> 00:09:37.400] No, absolutely.
[00:09:37.400 --> 00:09:42.200] So you talk to a lot of small business owners, a lot of your customers of Relay.
[00:09:42.200 --> 00:09:45.320] Like, what have you been hearing from small business owners, especially right now?
[00:09:45.320 --> 00:09:49.000] Like, what are the biggest challenges that you're hearing on the front lines?
[00:09:49.000 --> 00:09:55.480] Yeah, I mean, I think for us, something that we anchored on pretty early at Relay was this question of cash flow.
[00:09:55.480 --> 00:10:03.320] So in the theme of know your numbers, I think when you're building software, it can be really easy to kind of default to make things faster, make things more automated.
[00:10:03.320 --> 00:10:05.400] And, you know, that's part of our vision at Relay.
[00:10:05.400 --> 00:10:09.480] We want to make things faster, easier, more automated, cheaper, all of that.
[00:10:09.480 --> 00:10:23.560] But as you get in deeper with the small business owner, in my experience at least, you uncover this kind of driving concern around the money in their business, around, you know, can I survive till tomorrow, till next month, till the month after?
[00:10:23.880 --> 00:10:30.680] And almost this kind of maybe it's a bit of a confidence gap, like, can I know this side of my business?
[00:10:31.080 --> 00:10:53.920] And while, you know, a lot of folks out there, I think in our market are talking about, yeah, that automation, making your finances easier, we kind of took a different tack from that feedback that we were hearing around: can we actually make you like really great at your finances, really confident around your finances, actually put them front and center, put your money front and center and get you like proud and excited to be, you know, building and knowing your numbers.
[00:10:54.080 --> 00:11:12.160] So I think that just to go back to your original question, I think that question of, you know, my cash flow, will my business kind of make it till tomorrow is a consistent driving concern that, you know, takes on different kinds of shades through different stages of a business or like outside kind of macroeconomic factors.
[00:11:12.160 --> 00:11:25.920] But to me, that's a through line that's like just persistent for business owners of like, how can I get a handle on the cash in my business, feel confident that I can pay my team, my vendors, whatever next month, and just feel good about my growth, basically.
[00:11:26.320 --> 00:11:34.400] Can you share more about how the Relay platform is essentially set up so business owners can feel really confident in their financials?
[00:11:34.400 --> 00:11:37.280] Because I mean, I'll take myself as an example, right?
[00:11:37.280 --> 00:11:38.880] So I'm not a numbers person.
[00:11:38.880 --> 00:11:42.000] I'm very lucky that I have the most amazing business partner.
[00:11:42.000 --> 00:11:51.360] So my background and specialty is, you know, sales and marketing, business development, community building, you know, knowing how to build a business, of course.
[00:11:51.360 --> 00:11:54.640] And Courtney, my business partner, her background is finance and operations.
[00:11:54.640 --> 00:12:00.880] So I've always been able to lean on Courtney to manage all the finance and operations of the business.
[00:12:00.880 --> 00:12:09.200] So although I want to know as much as I can, I haven't had to be like the number one expert because I have a business partner where that is her specialty.
[00:12:09.200 --> 00:12:19.760] But a lot of the members in our community are solo founders who have created a business because they were, you know, passionate about something and they wanted to build a business around it.
[00:12:19.760 --> 00:12:22.960] But finance and business finance wasn't their background.
[00:12:22.960 --> 00:12:28.480] And it can feel really intimidating, really scary to feel like, I'm not good at the numbers.
[00:12:28.480 --> 00:12:30.680] I don't, that's, I don't know that.
[00:12:29.840 --> 00:12:35.480] And then to feel like you could have a platform and support to be able to help you is so important.
[00:12:35.720 --> 00:12:42.760] So how have you done it really to really empower the average business owner where this wasn't your background to be able to scale?
[00:12:43.080 --> 00:12:43.560] Cool.
[00:12:43.560 --> 00:12:43.800] Okay.
[00:12:43.800 --> 00:12:48.920] So I'm going to take firstly like what we do today and where we've really enabled today.
[00:12:48.920 --> 00:12:52.440] And then I'm going to talk about where we're going in future and very near future.
[00:12:52.440 --> 00:12:56.520] So I think kind of pegging off that initial problem, I'm a business owner.
[00:12:56.520 --> 00:12:59.880] I am not really confident or I don't really know my numbers.
[00:12:59.880 --> 00:13:01.240] It's not my specialty.
[00:13:01.240 --> 00:13:04.120] Where does a business owner go to know their numbers by default?
[00:13:04.120 --> 00:13:05.080] Their bank account.
[00:13:05.080 --> 00:13:09.160] You wake up in the morning, you kind of check your balance, you make decisions based off a bank balance.
[00:13:09.160 --> 00:13:14.600] So kind of taking off that reality, we've built digital banking for small business owners.
[00:13:14.920 --> 00:13:23.320] One behavior that we're really trying to support small business owners to avoid is that looking at one account and making decisions off your business based on that one account.
[00:13:23.320 --> 00:13:31.560] So a big piece of relay and what we enable is cash flow visibility through segregation of funds or dividing up your money into different bank accounts.
[00:13:31.560 --> 00:13:38.920] Some folks use a methodology called Profit First to do this, but really the core concept is don't put all your money in one place in one account.
[00:13:38.920 --> 00:13:46.200] Split it up by function, by project, by team, whatever makes the most sense for you so that you can get that kind of bird's eye view of the business.
[00:13:46.200 --> 00:13:49.880] In our core platform, we offer free banking up to 20 checking accounts.
[00:13:49.880 --> 00:13:54.200] You can make payments, spin up up to 50 debit cards on relay.
[00:13:54.200 --> 00:14:01.800] So you can also kind of divide your payments by card, give cards to your team safely, and really great connection to our account, your accountant.
[00:14:01.800 --> 00:14:07.800] So, giving your accountant access without having to give them your password, really great feeds into accounting software.
[00:14:07.800 --> 00:14:15.120] So, that kind of core functionality that you might be doing to kind of like get that visibility around what you're earning, spending, and saving.
[00:14:14.840 --> 00:14:20.480] That's what our core platform offers: a leveled-up version of what you might be getting in a traditional checking account.
[00:14:20.800 --> 00:14:31.680] Now, moving into the future, and this is something that we're rolling out now at really is combining banking, which I think a lot of the market still sort of sees as you know, a branch down the street with software.
[00:14:31.680 --> 00:14:37.440] So, again, kind of going back to that core idea of you're a business owner, you wake up in the morning and you check your bank account.
[00:14:37.440 --> 00:14:40.000] What if that bank account did so much more for you?
[00:14:40.000 --> 00:14:47.600] What if your invoicing could be embedded straight into it so you get that really close through line between what's in your checking account and this workflow that you're doing?
[00:14:47.840 --> 00:14:53.360] Payroll, bill pay, more functionality around our cards and enabling a team.
[00:14:53.520 --> 00:15:05.440] We're trying to build as many of those workflows like straight into banking to really bring you closer and closer to your money and give you more and more kind of control over where those movements are going.
[00:15:05.440 --> 00:15:13.600] Yeah, that is so helpful because I will tell you, you know, something Courtney's actually been analyzing in our business is: what are all the subscriptions that we have?
[00:15:13.840 --> 00:15:15.120] Do we need all these things?
[00:15:15.120 --> 00:15:16.000] Because they add up.
[00:15:16.000 --> 00:15:21.600] It's like from one thing that's $20 a month here, $90 a month there, $300 a month there, it all adds up.
[00:15:21.600 --> 00:15:33.920] And to be able to consolidate lots of those tools into one tool is so helpful because, yeah, you know, I'm speaking as a business owner here, not just a podcast host and you know, the founder, Roger Bernista.
[00:15:33.920 --> 00:15:36.640] Like, we're running a business and it's a lot.
[00:15:36.640 --> 00:15:41.440] So, thank you for seeing all those challenges we are all facing already and creating solutions.
[00:15:41.840 --> 00:15:56.640] Yeah, I think there's the fee consolidation, there's like the time consolidation, but just also the more, maybe just at a slightly higher altitude, the more, I guess, operational, higher-level operational consolidation of all of what I need to do is in one place.
[00:15:56.640 --> 00:15:58.240] I can get that visibility.
[00:15:58.240 --> 00:16:00.360] And then, looking into the future, you know, where're a tech company.
[00:15:59.920 --> 00:16:09.960] We're looking at how AI, we can leverage things like AI to deliver really smart insights to business owners, how we can kind of connect more of the accounting workflows back to banking really explicitly.
[00:16:09.960 --> 00:16:16.200] So a lot that we're doing in the future to kind of bring that whole experience full circle.
[00:16:16.200 --> 00:16:17.320] Oh my gosh, I love that.
[00:16:17.320 --> 00:16:22.200] Well, that was a great segue into AI because I want to talk all about AI and marketing.
[00:16:22.200 --> 00:16:23.480] You are a career marketer.
[00:16:23.720 --> 00:16:25.720] You are working in the B2B space.
[00:16:25.720 --> 00:16:35.320] And a lot of our members, I think I was sharing this with you: half of our members are service-based businesses, half of our members have product-based business, nonprofits, and everything in between, really.
[00:16:35.320 --> 00:16:45.800] But for our service-based businesses who are B2B marketers, like you are, what are the best strategies that you are seeing are really working to be able to reach the right customer?
[00:16:46.280 --> 00:16:48.440] In general, or AI-specific?
[00:16:48.440 --> 00:16:49.640] Oh, let's do both.
[00:16:49.640 --> 00:16:50.440] Let's do both?
[00:16:50.440 --> 00:16:51.400] Okay, yeah.
[00:16:51.400 --> 00:16:58.440] You know, I think it's an oldie, but I actually feel like this, the first thing to start with is just who your customer is.
[00:16:58.440 --> 00:17:07.560] And I know that that's like so basic, so first principles, but I think it can candidly get a bit lost in all of the tips that you see out there, all the education out there.
[00:17:07.560 --> 00:17:11.400] Really, the success of your strategies is going to depend on how well you know your customer.
[00:17:11.400 --> 00:17:29.080] So, your definition of that customer, how much time you spend with them, and like how deeply you understand them, both from like a tactical, what are they trying to do that you're helping them do, whether that's like you're giving them a physical product or you're helping them with a workflow like we're doing at Relay, all the way up to the emotional side of their work.
[00:17:29.080 --> 00:17:33.400] You know, why did they start the business that they started, or why are they doing what they're doing?
[00:17:33.400 --> 00:17:34.600] What do they care about?
[00:17:34.600 --> 00:17:38.920] The deeper you can know your customer, the more obvious what your strategies are going to be.
[00:17:38.920 --> 00:17:43.480] I'm kind of of the belief that there is no one playbook to do these things.
[00:17:43.480 --> 00:17:48.480] I think coming out of my first startup, I had a really expected playbook, just to kind of share an anecdote.
[00:17:48.640 --> 00:17:53.280] When I interviewed at Relay, I actually was like, Here's the five things we're going to do, this is how we're going to grow this business.
[00:17:53.280 --> 00:17:54.880] We don't do any of those things.
[00:17:55.120 --> 00:18:01.680] It's all different channels, different approaches here at Relay because we have a different customer, and that customer hangs out in different places.
[00:18:01.680 --> 00:18:05.760] They care about different things, the market is changing, the technology is changing.
[00:18:05.760 --> 00:18:11.440] So, I think for me, the really important thing to anchor on is like who that customer is.
[00:18:11.440 --> 00:18:15.520] And then from there, it's where, yeah, where do they spend time and where do they congregate?
[00:18:15.520 --> 00:18:24.320] So, just to give this example of us being here, we know that entrepreneurs spend time with each other and they form groups and they join membership organizations like Entrepreneur.
[00:18:24.320 --> 00:18:26.720] That's why we value these partnerships so much.
[00:18:27.040 --> 00:18:39.440] And we are willing to put in the time, we want to put in the time to spend with groups like yours because we know that that relationship, that deep relationship building is really valued by our customer and something we really value as well in turn.
[00:18:39.680 --> 00:18:44.640] So, really finding those kind of places where your customer is spending time.
[00:18:44.640 --> 00:18:51.760] And then, I think from there, it's level layering on what are the distribution tactics that will get you access to those places.
[00:18:51.760 --> 00:19:00.480] So, you know, if they're spending a lot of time in search, let's say, or you're really wanting to have a search-oriented strategy, maybe you're selling again, like a physical good that is really dependent on that.
[00:19:00.480 --> 00:19:02.160] Then it's looking at things like Google Ads.
[00:19:02.160 --> 00:19:06.240] But that's not necessarily going to be the strategy for you if your customer is not there.
[00:19:06.720 --> 00:19:18.080] So, yeah, I think it's knowing your customer, knowing where they spend time and what they care about, and then finding those distribution tactics on top of that that will be effective to get you access to that customer in those places.
[00:19:18.400 --> 00:19:22.800] How do you do the research to really find out and understand who your customer is?
[00:19:22.800 --> 00:19:26.000] Do you have any tools that you use or best practices or strategies?
[00:19:26.320 --> 00:19:29.040] Yeah, I think the first thing I will always say is talk to them.
[00:19:29.360 --> 00:19:31.560] To me, that's just like hands down the most important thing.
[00:19:31.560 --> 00:19:33.560] Like, get on a call, interview five of them.
[00:19:33.560 --> 00:19:39.640] You're going to get, you know, most of, I think out of five calls, you're going to have so many, honestly, you're going to have so many ideas from those five calls.
[00:19:39.880 --> 00:19:42.680] So that's always, always where I start.
[00:19:42.920 --> 00:19:49.560] I think for me, a big piece that I engage is just social media, like by osmosis.
[00:19:49.560 --> 00:19:56.920] So I'll kind of go on and I'll be searching different hashtags or I'll be searching different folks I know are in the space or folks who are influential in the space.
[00:19:56.920 --> 00:20:07.000] And, you know, sometimes what I've done is I've built, you know, a shadow account on Instagram where I've just kind of added a ton of people in the space that I'm researching and then let myself build a feed where I'm just seeing that.
[00:20:07.000 --> 00:20:15.320] So I can understand, again, the temperature of the market, which is just as important to me as just like what you can, what you want to do, the kind of nuts and bolts stuff.
[00:20:15.560 --> 00:20:32.120] And then, you know, there's deeper kind of tactics that you can use that are kind of maybe more book learning type research, like obviously, you know, Googling things and like reading about using, you know, ChatGPT to understand the workflows more deeply, understand the other tools in the space, build a kind of map of the ecosystem of the space.
[00:20:32.360 --> 00:20:33.880] That can be really helpful too.
[00:20:33.880 --> 00:20:36.600] You'll get a bunch of that from your customer interviews.
[00:20:36.600 --> 00:20:47.480] Like that will start coming out and kind of lead you to what you need to be searching to build a kind of more of a narrative around who your customer is.
[00:20:47.480 --> 00:20:47.880] Yeah.
[00:20:47.880 --> 00:20:48.600] No, I love that.
[00:20:48.600 --> 00:20:48.920] All right.
[00:20:48.920 --> 00:20:50.760] Let's talk all about AI right now.
[00:20:50.760 --> 00:21:03.560] I am just obsessed with AI tools because I truly believe that there is now so much more opportunity for us by having access to these robots who know even more than we do.
[00:21:03.560 --> 00:21:12.120] Like Eleni, I put in, I was trying to pull content for social that I can be sharing things more consistently, even on my LinkedIn.
[00:21:12.120 --> 00:21:17.040] And I asked ChatGPT, I'm like, share, like, I've recorded hundreds of podcast episodes.
[00:21:14.360 --> 00:21:18.800] I've shared all this advice on XYZ.
[00:21:19.200 --> 00:21:23.280] Can you pull for me like all of the best things I've said on like insert things here, right?
[00:21:23.280 --> 00:21:27.120] So I put in that prompt, and then I'm like, oh my God, I forgot I said that.
[00:21:27.120 --> 00:21:28.160] I forgot I did that.
[00:21:28.160 --> 00:21:30.000] Like these tools know.
[00:21:30.320 --> 00:21:30.960] They know.
[00:21:30.960 --> 00:21:35.520] And it's like, we have to embrace it and use it because other business owners are.
[00:21:35.520 --> 00:21:38.720] So if you're not doing it, you're going to be left behind.
[00:21:38.720 --> 00:21:49.280] So I want to talk about from a marketing perspective, how are you like personally and professionally, like in the marketing department, embracing AI, using AI to do things better or faster?
[00:21:49.600 --> 00:21:53.200] Yeah, I think one thing I'd say is I think we're early in our journey at Relay.
[00:21:53.200 --> 00:21:59.360] I think there's still so much to learn and we have candidly not operationalized it anywhere near to the level that we want.
[00:21:59.360 --> 00:22:07.200] Even here at Relay, we're trying to figure out how do we do this safely, internally, protecting our data as closely as we can.
[00:22:07.200 --> 00:22:08.240] I think it's still very early.
[00:22:08.320 --> 00:22:13.360] I think one thing I'd say is I think it's still very early in this journey to kind of figure out how you want to implement it.
[00:22:13.360 --> 00:22:21.840] I would say for us in marketing, there's a few ways that we are currently working on exploring it both for internal productivity and in our marketing work.
[00:22:21.840 --> 00:22:25.040] I think there's a big opportunity around the personalization.
[00:22:25.040 --> 00:22:30.400] So, you know, you land on our website, you receive communication, and it's like much more tailored to you.
[00:22:30.400 --> 00:22:36.880] We are exploring campaigns that involve things like quizzes and, you know, just to the question of money management.
[00:22:37.200 --> 00:22:52.080] You know, you allowing somebody in the market to kind of put in their questions around money management and us giving them smart advice back and being able to really customize what we're getting versus the traditional download an e-book kind of question.
[00:22:52.080 --> 00:22:58.160] So, how can we leverage it to provide something much more custom for the customer on the other side?
[00:22:58.160 --> 00:23:00.000] I think the research component is pretty big.
[00:23:00.520 --> 00:23:02.840] How do you understand the market better?
[00:23:02.840 --> 00:23:11.800] How do you get insights that maybe are a little bit harder to kind of piece together from other systems and just fast track what you're trying to do?
[00:23:12.120 --> 00:23:16.840] And then for us, I think a big piece that we want to explore, but again, this question of like how do we do this safely?
[00:23:16.840 --> 00:23:26.520] Because I think that's a big concern around AI, is mining our own data and pulling insights and ideas out of our own data in a way that we can then leverage for marketing.
[00:23:26.520 --> 00:23:29.160] That's another big piece that we're talking about right now, too.
[00:23:29.480 --> 00:23:39.160] So I have to tell you: so, I was speaking, I mentioned I was speaking on a panel this weekend at this Mom 2.0 summit, and AI was a big topic at the conference that I was at.
[00:23:39.160 --> 00:23:42.680] And actually, Brene Brown was one of the speakers on the event of eto.
[00:23:42.680 --> 00:23:43.800] Brene, she's amazing.
[00:23:43.800 --> 00:23:46.520] And she was talking about being like, are you kind?
[00:23:46.520 --> 00:23:48.680] Are you nice to your AI robots?
[00:23:48.680 --> 00:23:54.440] Because she was like, when that, when the robots come for us, they're going to remember who was nice and who wasn't.
[00:23:54.440 --> 00:23:56.920] So make sure you're being kind to them.
[00:23:56.920 --> 00:24:01.240] So that was a takeaway from this weekend that I love that.
[00:24:02.120 --> 00:24:02.600] I agree.
[00:24:02.600 --> 00:24:16.680] We're in the early days with AI, but I just think, you know, as business owners, even if we're not using it in our day-to-day business or operations, you have to at least stay on the forefront and know what is happening because otherwise you will be left behind.
[00:24:16.680 --> 00:24:24.280] Yeah, I think there's a pretty big call to action internally here at Relay to really start making it a requirement for us all to be using it.
[00:24:24.280 --> 00:24:30.200] And I think, though, there's a nuance, I think, for me in this, kind of going back to the like, know your customer.
[00:24:30.200 --> 00:24:39.000] I think AI can unlock a lot for you and can give you a lot more specificity, as I was saying, around how you're communicating, a lot more speed, a lot more ability to synthesize.
[00:24:39.000 --> 00:24:43.400] But nothing I think can really actually take away from the firsthand knowledge.
[00:24:43.400 --> 00:24:57.760] And I think the power of it in marketing is going to come from being able to combine, you know, some of those productivity gains, the personalization gains with firsthand insights, firsthand emotional connection, and actually tie that together.
[00:24:58.080 --> 00:25:07.680] There's a lot of chatter as well in marketing about how, you know, with this kind of move towards AI, the ingenuity, the humanness of your thinking becomes really a lot more valuable.
[00:25:07.680 --> 00:25:12.880] So my kind of line to my team is like, we got to learn to use this, these tools and really be great at them.
[00:25:12.880 --> 00:25:17.760] This is going to be a differentiator for us, not just at relay, but in our next jobs and your next jobs.
[00:25:18.000 --> 00:25:27.120] But in that context, really honing the tool of your own creativity and being able to bring that together, I think is where a lot of the power is going to be here.
[00:25:27.120 --> 00:25:28.160] Absolutely.
[00:25:28.160 --> 00:25:35.840] Up next, you'll hear Eleni's best tips for creating a marketing strategy to build a profitable and scalable business.
[00:25:41.520 --> 00:25:42.720] Hi, Entrepreneurs.
[00:25:42.720 --> 00:25:43.760] It's Steph here.
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[00:26:48.520 --> 00:26:49.880] I'll see you there.
[00:26:59.720 --> 00:27:13.960] So, Eleni, of course, a lot of our business owners are not, you know, industry marketers and they have created a business and now they realize, like, I need a product, but like, oh my gosh, now I have to learn marketing and actually sell this and create a marketing budget.
[00:27:13.960 --> 00:27:15.160] Like, where should I even start?
[00:27:15.160 --> 00:27:24.600] So, where do you recommend business owners start when they think about where they should be investing when they're just getting started in their business or in their marketing strategy?
[00:27:24.600 --> 00:27:31.160] Okay, I'm not going to go back to talk to your customer because that is where they need to start, but I'm going to give some more tactical.
[00:27:31.640 --> 00:27:33.080] Okay, where would I start?
[00:27:33.080 --> 00:27:35.560] So, I think I would kind of make that map.
[00:27:35.560 --> 00:27:40.600] Maybe it's a list of two to three places where I know my customer is.
[00:27:40.600 --> 00:27:48.120] I think, you know, I did a course in marketing kind of early in my tech career that brought together a lot of insights from really big tech companies.
[00:27:48.120 --> 00:27:53.080] And really, I remember a light bulb moment for me from that course was: you don't need a million marketing plays.
[00:27:53.080 --> 00:27:56.680] You typically just need like one that's really good for you, at least to start.
[00:27:56.680 --> 00:27:58.600] Here at Relay, we had accountants and bookkeepers.
[00:27:58.600 --> 00:27:59.480] That was our first play.
[00:27:59.480 --> 00:28:01.400] And that was all I did for my first year at Relay.
[00:28:01.400 --> 00:28:03.240] I joined Relay when we were really early.
[00:28:03.560 --> 00:28:07.720] And we really just, you know, pounded the pavement in that channel.
[00:28:07.720 --> 00:28:14.760] So, I think identify where your customer is and how identify maybe one to two ways you can access that customer.
[00:28:14.760 --> 00:28:21.920] So, out of that might come, they attend trade shows, they search things on Google that I want to show up for.
[00:28:22.240 --> 00:28:25.600] They are in my neighborhood, I need to connect with them in my neighborhood.
[00:28:25.920 --> 00:28:27.840] They, what's another example?
[00:28:27.840 --> 00:28:28.720] They're on Instagram.
[00:28:28.720 --> 00:28:32.000] Like, this is a very socially oriented customer base.
[00:28:32.000 --> 00:28:35.280] So, find where they are, and then how do you get into that space?
[00:28:35.280 --> 00:28:37.600] So, you know, what are the tactics that others are doing?
[00:28:37.600 --> 00:28:38.800] I think that can be useful, though.
[00:28:38.800 --> 00:28:42.480] You're going to want to put your own spin on it to access this customer in this space.
[00:28:42.640 --> 00:28:44.800] And then, yeah, how do I differentiate within that?
[00:28:44.800 --> 00:28:55.200] So, let's say we're taking a really classic example of like Google ads, where there's really clear, you know, search volume against the thing that you are selling, whether that's a service or a product.
[00:28:55.600 --> 00:28:57.840] How do you show up in those ads?
[00:28:57.840 --> 00:29:04.080] And how do you differentiate when somebody's comparing your ad to another ad to you know organic search results?
[00:29:04.080 --> 00:29:14.480] Um, so I think, yeah, where I would start is where is my customer hanging out, and what do I need to do to make a dent or get noticed in that place where they're hanging out?
[00:29:14.480 --> 00:29:20.480] And that can lead you to a few different types of tactics, but I wouldn't, um, I wouldn't try to do too many things first.
[00:29:20.480 --> 00:29:23.440] I would just choose, you know, one really great thing and just do that.
[00:29:23.440 --> 00:29:33.280] It's reminding me actually, I spoke to somebody recently who also works in technology for small businesses and he runs content for the company that he works at.
[00:29:33.280 --> 00:29:38.720] And they just decided, you know, B2B company, SaaS company, to just make a giant bet on YouTube.
[00:29:38.720 --> 00:29:40.000] And that's all he's doing.
[00:29:40.000 --> 00:29:46.480] He is just on YouTube building a YouTube following and using that to then play out in multiple different scenarios.
[00:29:46.480 --> 00:29:53.120] They've built a following of over 20,000 on YouTube within the first six months, six to eight months, with a pretty classic B2B SaaS company.
[00:29:53.280 --> 00:29:56.000] And it's just sort of them saying, Our business owners are here on YouTube.
[00:29:56.000 --> 00:29:57.200] We want to access them on YouTube.
[00:29:57.280 --> 00:29:58.800] We're going to fully commit to this.
[00:29:59.360 --> 00:30:10.040] I think that commitment, if you're doing it with a little bit of kind of X factor creativity, can really serve you better than spreading yourself across a lot of different tactics.
[00:30:10.040 --> 00:30:12.200] That said, now I'm just talking a lot.
[00:30:12.200 --> 00:30:13.880] Over time, you're going to want to layer.
[00:30:14.120 --> 00:30:18.120] You're going to reach, most of these tactics will reach a ceiling and you'll kind of want to layer in.
[00:30:18.120 --> 00:30:21.640] But I think if you're just starting out, where is my customer?
[00:30:21.640 --> 00:30:23.240] How do I access them there?
[00:30:23.240 --> 00:30:29.480] And that could lead you to different places, different ways to access them, but then just betting on that way to access them.
[00:30:29.800 --> 00:30:36.120] Once you start testing a specific channel or strategy, how do you know when something's like definitely working?
[00:30:36.120 --> 00:30:37.640] How much time you need to give it?
[00:30:37.640 --> 00:30:39.640] Or when you like, we're throwing in the towel.
[00:30:39.640 --> 00:30:41.640] YouTube, it's not where our people are.
[00:30:41.640 --> 00:30:43.160] We're not going to focus there.
[00:30:43.160 --> 00:30:43.800] Hmm.
[00:30:43.800 --> 00:30:44.040] Okay.
[00:30:44.040 --> 00:30:49.880] It's a bit of a tricky question because I think different channels need different kinds of timeframes to be proven out.
[00:30:50.680 --> 00:30:54.120] I think, let me think about how I can give a helpful answer here.
[00:30:54.120 --> 00:30:58.200] There is a tracking component that I think is really important.
[00:30:58.600 --> 00:31:06.040] So I'm not sure what your members use, but having some form of a marketing CRM, some kind of attribution tracking.
[00:31:06.040 --> 00:31:09.720] I remember this was a big, when I got into startup and I knew nothing about this.
[00:31:09.720 --> 00:31:15.560] Understanding attribution and lead sources was like, oh, this is super helpful to know where someone's coming from.
[00:31:15.560 --> 00:31:16.680] First touch, last touch.
[00:31:16.680 --> 00:31:17.960] When do you see counts?
[00:31:19.000 --> 00:31:20.360] Yes, you're going to want some.
[00:31:20.360 --> 00:31:23.800] And like for me, for example, like even here at Relay, it's mostly first touch.
[00:31:23.800 --> 00:31:26.680] Like you also, I don't think, don't need to overthink your attribution.
[00:31:26.680 --> 00:31:31.720] It's just what's going to give you kind of the 80-20 on where things are going so you can have confidence directionally.
[00:31:31.720 --> 00:31:35.720] So typically you're going to want some way to know where the traffic came from.
[00:31:36.040 --> 00:31:37.560] I do like a first touch.
[00:31:37.560 --> 00:31:40.040] I think first touch, last touch can be really, really helpful.
[00:31:40.040 --> 00:31:44.560] We're moving towards that here now, but that's like at a pretty mature stage of our business, quite honestly.
[00:31:44.200 --> 00:31:50.800] I like a first touch because it tells you the thing that got somebody initially interested.
[00:31:51.120 --> 00:31:53.600] And to me, that's always been the most powerful.
[00:31:53.920 --> 00:31:58.160] And the rest I've sort of been more okay with having be a little bit fuzzier for us.
[00:31:58.480 --> 00:32:01.200] But there's different business models that need different kinds of touches.
[00:32:01.200 --> 00:32:05.200] But regardless, you know, having some semblance of knowing what drove somebody to you.
[00:32:05.440 --> 00:32:08.080] And there's lots of tooling that can do this for you.
[00:32:08.880 --> 00:32:10.240] That is really key.
[00:32:10.400 --> 00:32:13.120] And then I think knowing, it's basically like, what did you spend?
[00:32:13.360 --> 00:32:17.760] Like, what was the effort you put in, whether it's time, money, whatever?
[00:32:18.000 --> 00:32:19.760] What did it drive?
[00:32:19.760 --> 00:32:21.760] And then, you know, tracking a funnel.
[00:32:21.760 --> 00:32:26.800] So it's going to be different for different types of products, but where did that lead come from?
[00:32:26.800 --> 00:32:29.840] How many of the leads from that source are converting in the ways you want?
[00:32:29.840 --> 00:32:31.600] And how many are ultimately becoming a customer?
[00:32:31.600 --> 00:32:32.880] And what's my revenue?
[00:32:33.120 --> 00:32:42.320] Ultimately, being able to kind of play that back to how am I getting paid back as a business and keeping that in kind of a healthy zone.
[00:32:42.720 --> 00:32:49.600] Typically here at Relay, we're aiming for under 12 months of payback, but it's going to be different for different businesses.
[00:32:49.600 --> 00:32:50.240] Yeah.
[00:32:50.240 --> 00:32:57.760] Are there specific business tools or marketing tools that you're either using now or have used in the past at other companies that you recommend?
[00:32:57.760 --> 00:33:00.480] Yeah, I mean, this is a classic, but like I do love a HubSpot.
[00:33:00.480 --> 00:33:03.440] I know that they started off with small business angle.
[00:33:03.440 --> 00:33:07.120] I have done two like HubSpot build outs myself.
[00:33:07.440 --> 00:33:08.000] I find it probably.
[00:33:08.080 --> 00:33:09.040] Oh, we should come to you.
[00:33:10.480 --> 00:33:16.880] I find it pretty accessible as a tool and like pretty customizable for somebody who wants to like kind of get their hands dirty in DIY.
[00:33:16.880 --> 00:33:18.880] And they have the attribution piece out of the box.
[00:33:18.880 --> 00:33:27.920] Like, you can get probably, like, if I was running a business that was doing, you know, under, like, between, you know, under 10 million, I would probably just use HubSpot first touch attribution forever.
[00:33:27.920 --> 00:33:32.440] Like, I don't know that I would need to move beyond that unless there was some really specific reason to.
[00:33:29.840 --> 00:33:35.720] But to me, they can give you a lot as you're getting a business going.
[00:33:36.040 --> 00:33:38.200] And just it's all in kind of one tool.
[00:33:38.200 --> 00:33:39.560] It's really useful.
[00:33:39.960 --> 00:33:41.800] I'm trying to think of what else we find useful.
[00:33:41.800 --> 00:33:48.680] We are today migrating a lot of our website and kind of landing pages to Webflow, which has been a really great solution for us.
[00:33:48.680 --> 00:33:53.240] A lot more out of the box, a lot more kind of, we can DIY a lot more with that.
[00:33:53.480 --> 00:33:55.320] So that's been awesome for us as a team too.
[00:33:55.320 --> 00:33:56.520] I mean, these are classics, right?
[00:33:56.520 --> 00:34:02.120] Like, again, I don't know that you necessarily need like the most groundbreaking tech stack to do a lot with.
[00:34:02.120 --> 00:34:04.680] It's really how you're using it and like how deep you're going with it.
[00:34:04.680 --> 00:34:17.960] I will say also that was, I think, a big unlock for me in my career as I'm thinking back was learning to use the tools and like going deep and getting really OCD and obsessive about them, like really deep and really into it.
[00:34:18.680 --> 00:34:28.600] I just started to understand a lot more how to build the funnel, how to build for scalability by being so hands dirty and obsessive about how everything was flowing through those systems.
[00:34:28.600 --> 00:34:28.920] Yeah.
[00:34:29.240 --> 00:34:31.160] I'm so glad that you shared that.
[00:34:31.160 --> 00:34:35.960] So both of those tools, HubSpot and Webflow, we are now using at Entrepreneurista.
[00:34:35.960 --> 00:34:41.160] So we actually just moved over in January our whole website over to Webflow and it's amazing.
[00:34:41.480 --> 00:34:44.840] But our team is now first starting to learn how to use it.
[00:34:44.840 --> 00:34:46.760] And back to what you said, and same with HubSpot, right?
[00:34:46.760 --> 00:34:55.080] HubSpot, again, when you onboard a tool, you need to learn how to use that tool or it's not going to be as valuable for you.
[00:34:55.080 --> 00:34:57.800] And you have to spend the time to do that.
[00:34:57.800 --> 00:35:01.240] And that's something that we've, you know, we've had a hard learning lesson with that, right?
[00:35:01.240 --> 00:35:05.160] Because, you know, the web development team we worked with handed the new website over to us.
[00:35:05.160 --> 00:35:12.680] We had some hours of training, and now we're like, we actually need a lot of deeper training to be able to use this in the most efficient way possible.
[00:35:12.680 --> 00:35:14.360] So, it's just a reminder for everyone.
[00:35:14.360 --> 00:35:15.760] It's like these tools are amazing.
[00:35:15.920 --> 00:35:24.160] There are so many powerful tools that are out there, but it would be the same as like if you set up your account on Relay and you never logged into your account, like that's not going to help you.
[00:35:24.160 --> 00:35:27.280] You have to log in, and actually, you've got to use the tools.
[00:35:27.280 --> 00:35:28.800] Yeah, yeah, it's an interesting actually.
[00:35:28.800 --> 00:35:36.560] I've never kind of thought about this before, but I think time I've spent building out these tools, and also time I've spent building out models.
[00:35:36.560 --> 00:35:48.960] So, you know, building a forecast, building a model for how we'll grow here at Relay, for example, that can really take hours, days, and you're just kind of sitting there building these things.
[00:35:48.960 --> 00:35:51.120] I actually think that's incredibly valuable time.
[00:35:51.120 --> 00:36:00.640] You're kind of like both doing the thing to get you more practically where you want to be, but it's also like thinking creative time that new ideas come to you.
[00:36:00.640 --> 00:36:06.000] At least for me, that's been almost like meditative time of like going deep, obsessively on these tools and models.
[00:36:06.000 --> 00:36:09.280] And it just brings me into the space of the business.
[00:36:09.440 --> 00:36:14.480] And I come out of it always both with like a practical thing I'm trying to do and more ideas for how we could grow.
[00:36:14.480 --> 00:36:14.880] Yeah.
[00:36:14.880 --> 00:36:22.960] And something I want to remind everyone of is that if managing these tools and learning this tech is not your area of expertise, like it's okay.
[00:36:22.960 --> 00:36:30.080] There's actually people who have service-based businesses to help you learn how to use these tools, onboard these tools, and really integrate them in your business.
[00:36:30.080 --> 00:36:34.000] I was actually a guest on one of our members' podcasts today, and she was just talking about that.
[00:36:34.000 --> 00:36:41.920] She hired an OBM, an online business manager, to actually help her set up all these tools because there's a lot of people that aren't native to all this technology.
[00:36:42.160 --> 00:36:50.720] You know, I feel like for us, we're, you know, a younger, I'm 40, I'm like the younger generation of we kind of grew up with social media and grew up just learning how to implement these tools.
[00:36:50.720 --> 00:36:57.760] But it's like, if you're 40 plus, a lot of these tools, it's just, it's not organic and natural to how you've, you know, used tools in the past.
[00:36:57.760 --> 00:37:01.880] And there's people that can help you and do it for you and you can learn from them.
[00:36:59.120 --> 00:37:05.720] I actually think there's a good kind of parallel with the whole question of banking, money management.
[00:37:06.360 --> 00:37:07.640] There's people who can help you.
[00:37:07.640 --> 00:37:12.360] That relationship with your bookkeeper or an accountant can be so invaluable to you as a business owner.
[00:37:12.360 --> 00:37:17.160] But there's also intrinsic value on spending the time and being hands-on yourself.
[00:37:17.800 --> 00:37:22.440] And I think it sometimes can lead to like really intelligent conversations with those people who are helping you.
[00:37:22.440 --> 00:37:24.920] So to me, it's sort of doing both in parallel.
[00:37:24.920 --> 00:37:26.120] No, absolutely.
[00:37:26.120 --> 00:37:35.720] Coming up, Eleni shares all the exciting updates at Relay and how you can get the most value out of Relay services and why trust and community are so important.
[00:37:39.160 --> 00:37:45.560] Founders are always asking us, what has been the secret to our success building multiple seven-figure businesses?
[00:37:45.560 --> 00:37:47.000] Do you want to know how?
[00:37:47.000 --> 00:37:48.680] It's our community.
[00:37:48.680 --> 00:37:56.280] We created the Entrepreneur League for founders like you because the most successful entrepreneurs do not navigate business alone.
[00:37:56.280 --> 00:38:02.120] We navigate the challenges and opportunities with the support of people we know, love, and trust.
[00:38:02.120 --> 00:38:05.960] The relationships you build in business will be the key to your success.
[00:38:05.960 --> 00:38:08.120] Trust me, it's how we've done it.
[00:38:08.120 --> 00:38:13.800] And I'm giving you access to everything we've used to grow and scale our businesses over the past decade.
[00:38:13.800 --> 00:38:18.120] Plus, you're going to meet your new best friends in business right inside the community.
[00:38:18.120 --> 00:38:40.520] Our members have access to everything we've used to grow our businesses over the past 10 plus years, from in-person events to virtual events, business education, funding resources, office hours with myself and other top founders in your industry, press opportunities, and access to our community platform where you can instantly get all of your business questions answered.
[00:38:40.520 --> 00:38:47.280] You can join us in the community over at refer.entrepreneista.com forward slash join us.
[00:38:44.920 --> 00:38:56.400] That's refer.entrepranista.com forward slash join us to join the community or head to the show notes right now and tap the link to join.
[00:38:56.400 --> 00:38:58.560] I cannot wait to meet you.
[00:38:59.520 --> 00:39:03.680] So what are you most looking forward to for all of the new updates with Relay?
[00:39:04.320 --> 00:39:06.000] Interesting question.
[00:39:06.240 --> 00:39:13.360] I just came out of a meeting where we were looking at custom debit and credit cards and that was really exciting just from like a flare perspective.
[00:39:13.360 --> 00:39:13.760] What does that mean?
[00:39:13.840 --> 00:39:14.720] What does that mean, a customer?
[00:39:15.360 --> 00:39:29.680] It means customizing the way they look, having them look a little bit more like how you might want them to look or having them visually cue, you know, whether they're for travel or for your kind of office expenses or whatever it might be, giving you a little bit more kind of personalization to the card.
[00:39:29.680 --> 00:39:32.080] That's a smaller change, but it just looked really cool.
[00:39:32.080 --> 00:39:36.080] And I think seeing the product get like slicker is very exciting for me.
[00:39:36.400 --> 00:39:43.360] I think for me, a big one coming up, we have a big, meaningful launch of spend management coming up.
[00:39:43.680 --> 00:39:46.480] It may be live by the time this podcast is out.
[00:39:46.800 --> 00:40:00.000] But that is really a big move for us at Relay into standalone product that is, or embedded product, but a standalone workflow that's truly added on to banking and leveling up the value you can get out of Relay.
[00:40:00.000 --> 00:40:01.680] So this is, you know, you're paying bills.
[00:40:01.680 --> 00:40:06.960] Maybe it's a little bit onerous to make those payments or the approvals are a bit painful.
[00:40:06.960 --> 00:40:17.040] It's giving you that chance to sort of really embed that directly into your banking, have it sync with your accounting really clearly and be able to, yeah, have it all in one place again.
[00:40:17.040 --> 00:40:18.400] And that's like a really big step for us.
[00:40:18.400 --> 00:40:20.320] So, that's a pretty exciting launch coming up.
[00:40:20.320 --> 00:40:21.200] That's so exciting.
[00:40:21.200 --> 00:40:24.240] How do you get the word out to your customers when you have these new launches?
[00:40:24.240 --> 00:40:26.400] What's the strategy to reach everyone to let them know?
[00:40:26.400 --> 00:40:28.880] Yeah, I mean, this is where we kind of go multi-prong with it.
[00:40:28.880 --> 00:40:32.200] So, you know, you're marketing to your existing base with a new product launch.
[00:40:32.280 --> 00:40:39.720] That's always priority number one: getting out there and getting your existing customers to know about the new thing you've launched.
[00:40:40.040 --> 00:40:44.280] And then you're building that kind of multi-pronged strategy that we've just been talking about.
[00:40:44.280 --> 00:40:45.720] Where will people care about this?
[00:40:45.720 --> 00:40:51.880] Like the folks who are concerned about the bill pay in their business, they are probably Googling, I hate my bill.
[00:40:51.960 --> 00:40:53.240] Like, how do we show up?
[00:40:53.240 --> 00:40:56.520] How do we show up for the people who are actively seeking this solution?
[00:40:56.520 --> 00:41:02.680] And then, how do we show up for people who may not know they need the or may not be actively seeking the solution but have the problem?
[00:41:02.680 --> 00:41:05.880] And maybe that's another layer here to consider just for your audience in general.
[00:41:05.880 --> 00:41:18.840] There's the layer of people who are looking actively for the thing you do, and then the people who may be what I call like in the problem space, they maybe have a tangential problem, like they're annoyed that they're they're annoyed with their bill pay, but they're not seeking the solution yet.
[00:41:18.840 --> 00:41:21.720] Um, and getting educating and getting in front of them in that way.
[00:41:21.720 --> 00:41:29.720] So, that might be things like you know, we run a lot of webinars here, um, it might be content pieces, it might be partnerships with you guys and stuff like that to help get the word out.
[00:41:29.720 --> 00:41:34.920] So, it's really using those channels where we know our audiences and telling this story in those channels.
[00:41:34.920 --> 00:41:49.320] You just got me thinking about going back to the AI conversation about AI search, which I think is going to become like even bigger now and actually learning how to show up in search in these AI tools because that's where people are going now.
[00:41:49.320 --> 00:41:52.600] Yes, and I will be honest with you, like, this is a new area for me too.
[00:41:52.600 --> 00:41:56.280] Like, I don't have a strong perspective here yet.
[00:41:56.440 --> 00:41:58.680] I honestly don't think, I don't think anybody does yet.
[00:41:58.680 --> 00:42:00.840] I think this is like a very fast-moving target.
[00:42:01.000 --> 00:42:06.200] In the older kind of days, you had a search strategy, and that was really obvious.
[00:42:06.200 --> 00:42:08.280] And you kind of knew that I knew that playbook really well.
[00:42:08.280 --> 00:42:11.240] At my last business, we built, you know, a huge SEO engine.
[00:42:11.640 --> 00:42:14.600] It's really changing very quickly on that front.
[00:42:14.600 --> 00:42:18.480] And I think I don't think anyone's fully cracked it yet.
[00:42:18.480 --> 00:42:19.200] We have not yet.
[00:42:14.840 --> 00:42:20.960] But agreed, it's like very important.
[00:42:21.680 --> 00:42:27.440] Something that we're very actively exploring right now is making sure that we can maintain our presence in that kind of AI results.
[00:42:27.440 --> 00:42:28.320] Yeah, absolutely.
[00:42:28.320 --> 00:42:31.360] We have some members that are experts in AI.
[00:42:31.600 --> 00:42:40.960] So they're part of our entrepreneurship group platform and they're coming and speaking to the members in our community about what you need to know to be able to, you know, rank in AI searches.
[00:42:41.120 --> 00:42:42.080] I don't even know this yet.
[00:42:42.080 --> 00:42:44.880] Like we're trying to, we're all trying to learn together.
[00:42:44.880 --> 00:42:50.800] And I think that's the beautiful thing about this place we're in right now with marketing and AI technology.
[00:42:50.800 --> 00:42:57.760] It reminds me back, you know, when my business partner, Courtney, and I, when we started our first business, Social Fly, like we were so early in the social media space.
[00:42:57.760 --> 00:43:03.360] Like we started our social media agency back in 2011 on the side of our full-time jobs.
[00:43:03.360 --> 00:43:07.840] Like brands were not really using social media yet and we're like, this is going to be the way of the future.
[00:43:07.840 --> 00:43:11.600] And we were literally like, we were basically selling social media services door to door back then.
[00:43:11.680 --> 00:43:12.800] People were like, this isn't bad.
[00:43:12.800 --> 00:43:16.560] And I'm like, nope, this is going to be here to say you all need to embrace this right now.
[00:43:16.560 --> 00:43:21.120] But it just reminds me of that time where it's like, now's the time to learn and find.
[00:43:21.120 --> 00:43:23.360] There are X, there definitely are experts out there.
[00:43:23.360 --> 00:43:27.440] And it's about how can we bring them together so we can all knowledge, share, and learn together.
[00:43:27.440 --> 00:43:29.840] And it's why we have podcasts like this to have these conversations.
[00:43:29.840 --> 00:43:30.240] Yeah.
[00:43:30.240 --> 00:43:30.960] It's so true.
[00:43:30.960 --> 00:43:37.440] I actually feel like in that era, you know, 2010, kind of early 2010, was the wave of inbound marketing.
[00:43:37.440 --> 00:43:46.160] And we all kind of developed, especially if you're in B2B, you kind of developed that B2B playbook that was largely SEO-driven, content, educational, content-driven, trade shows.
[00:43:46.160 --> 00:43:49.600] It became a really great and classic playbook.
[00:43:50.000 --> 00:43:54.440] I think there's a really big sea change coming, and we're all kind of in the midst of that right now.
[00:43:54.240 --> 00:43:54.600] Yeah.
[00:43:54.480 --> 00:43:54.800] Yeah.
[00:43:55.520 --> 00:43:57.680] So it's why I love doing recordings like this.
[00:43:57.840 --> 00:44:02.920] We can all be sharing all of our updates and sharing together and collaborating and helping each other.
[00:44:03.160 --> 00:44:07.160] So I have to ask you: what is your biggest business secret?
[00:44:07.160 --> 00:44:10.600] Ooh, let me think about that for a second.
[00:44:10.600 --> 00:44:12.120] Biggest business secret.
[00:44:12.440 --> 00:44:13.960] Let me give it a try.
[00:44:14.120 --> 00:44:18.280] A tip or something you've never shared with anyone before live on a podcast.
[00:44:20.840 --> 00:44:23.320] I'm just giving it a moment of thought.
[00:44:25.880 --> 00:44:36.680] I think something, I don't know that this is a secret, but I think something, another kind of light bulb moment I had in my career, and I'm trying to think of the best kind of way to articulate this.
[00:44:36.680 --> 00:44:55.080] But, you know, this is not like the most groundbreaking advice, but it was kind of like ask the dumb question and press in the thing on the thing that you think you might not really know the answer to, or that it might be a stupid question, or is maybe like out of your lane.
[00:44:55.400 --> 00:44:56.760] Sometimes it is.
[00:44:56.760 --> 00:45:00.760] Sometimes it's actually like nobody else is thinking about the thing that you're asking about.
[00:45:01.000 --> 00:45:13.960] I think for me, especially as I moved into leadership, it was getting that confidence to really press on things and not feel, maybe what I'm trying to articulate here is more about get out of your lane.
[00:45:14.600 --> 00:45:17.320] I think that's maybe more what I'm trying to sort of share.
[00:45:17.720 --> 00:45:37.800] I think for me, that's been a really big unlock in my career is, you know, not just sticking to what I'm doing in marketing, obviously developing that craft, but getting really curious about everything that's going on around me and asking questions about it and getting involved in that stuff and not being a little bit less shy around it has led to like better ideas, better collaboration.
[00:45:37.800 --> 00:45:45.760] I don't know that that's really a business secret, but I feel like it's a really great secret, a great tip because, you know, I actually did a whole post about this on LinkedIn recently.
[00:45:44.760 --> 00:45:51.280] I talk about this all the time: like, there is no such thing as a silly question or a dumb question.
[00:45:51.280 --> 00:45:53.440] Like, all questions are so important.
[00:45:53.440 --> 00:45:56.640] And if you're thinking it, someone else is probably thinking it too.
[00:45:56.640 --> 00:45:58.160] And some people know the answers.
[00:45:58.160 --> 00:46:00.160] And then we can all share and learn together.
[00:46:00.160 --> 00:46:03.680] And if we don't ask the questions, we can't learn, we can't grow together.
[00:46:03.680 --> 00:46:05.040] It's like, ask the questions.
[00:46:05.440 --> 00:46:07.040] People want to know, we all need to learn.
[00:46:07.040 --> 00:46:10.560] And that's how we can all build better, more profitable businesses.
[00:46:10.560 --> 00:46:24.640] I think this light bulb moment, if I just share the specifics, was at my previous company, we were going to be rebuilding part of our product in a way that kind of like the front end development of the product was not going to allow us to add scripts.
[00:46:24.640 --> 00:46:36.240] So like the line of code that you use for, we've been talking about HubSpot, the sort of script you'd embed in your website to allow you to track things and have it, you know, have all this tracking going on was not going to be possible with this new framework we were using.
[00:46:36.240 --> 00:46:38.160] And I thought to myself, I'm not an engineer.
[00:46:38.160 --> 00:46:39.280] They must have thought about this.
[00:46:39.280 --> 00:46:41.120] Like this must be on their radar.
[00:46:41.120 --> 00:46:42.880] You know, this is a big engineering team.
[00:46:42.880 --> 00:46:50.320] But at one point, I just asked the question, hey, are we sure we're going to be able to like embed these 10 different tools that we're using with the whole new front end of our application?
[00:46:50.320 --> 00:46:55.440] Nobody had thought about it because they have their own kind of priorities and they're like, you know, they're thinking about what they're trying to do.
[00:46:55.440 --> 00:47:05.760] But, you know, I really, it was a moment of really kind of sticking my nose in, but also realizing, oh, like, I have my own perspective that I can bring here and my own expertise that is worth sharing.
[00:47:05.760 --> 00:47:06.960] Yeah, no, absolutely.
[00:47:06.960 --> 00:47:09.200] It is always worth sharing.
[00:47:09.200 --> 00:47:10.880] Eleni, last question for you.
[00:47:10.880 --> 00:47:13.520] What does being part of Entrepreneurista mean to you?
[00:47:13.520 --> 00:47:21.960] Ooh, I mean, I think being part of a community like this that is, you know, just thriving, like being part of any community.
[00:47:21.960 --> 00:47:29.440] For us at Relate, we really believe in authentic connections to communities of small business owners.
[00:47:29.440 --> 00:47:32.120] I think what you guys are building here is just so cool.
[00:47:29.760 --> 00:47:52.360] I think, you know, really helping business owners like get to that next level, not just at the beginning of their process and kind of, I think there's another level of depth that I see with you guys that's beyond, you know, how to get started, how to get rich quick, whatever it might be, and more towards how to build something really sustainable for yourself and how to build something that's going to take you for the long haul in your business.
[00:47:52.600 --> 00:47:54.440] The knowledge sharing is just so great.
[00:47:54.440 --> 00:47:58.600] And I think, you know, being part of a community of women also just means a lot to me.
[00:47:59.560 --> 00:48:09.400] Yeah, it's just a really awesome kind of way to knowledge share and genuinely, again, back to that kind of like practical impact, like help folks get to that practical next step they want to get to.
[00:48:09.400 --> 00:48:16.040] To me, it's always like the combo of inspirational and tactical, practical that inspires me with the businesses that I'm at too.
[00:48:16.040 --> 00:48:16.840] Oh, absolutely.
[00:48:16.840 --> 00:48:30.520] And our members know and our whole community knows that we only partner with partners like you, like Relay, that we know, that we love, that we trust, that we know truly care about the mission and the values of Entrepreneur and who our members are.
[00:48:30.520 --> 00:48:39.720] You know, we have potential partners that reach out to us all the time that want to partner with us because of our incredible community, but we don't partner with anyone and everyone.
[00:48:39.720 --> 00:48:45.720] We only partner with the tools and solutions that are so aligned with our values and the values of the community.
[00:48:45.720 --> 00:48:54.120] And we're so grateful for you, your team, and what Relay has built to help the community and how passionate you truly are about helping.
[00:48:54.120 --> 00:48:55.240] So thank you.
[00:48:55.240 --> 00:48:55.720] Yeah.
[00:48:55.720 --> 00:49:00.840] Well, I also want to say like having the trust of a community like ours is not something that we take lightly.
[00:49:00.840 --> 00:49:05.880] There's a lot of, you know, there's a lot of differing qualities of advice out there.
[00:49:05.880 --> 00:49:08.920] And I think we really want to build these kind of meaningful partnerships.
[00:49:08.920 --> 00:49:14.200] We're at the end of the day, helping business owners be more successful in what they're trying to build, whatever that may be.
[00:49:14.440 --> 00:49:24.240] And those connections that feel truly aligned to that mission really means a lot to us and are places where we want to invest the time, the time and the effort.
[00:49:24.240 --> 00:49:24.800] Yeah.
[00:49:25.120 --> 00:49:36.800] Well, I want to share with everyone right now that if you are looking for a solution like Relay, Eleni and the team have a special, incredible offer for our entrepreneur.
[00:49:36.800 --> 00:49:46.320] So this will all be in the show notes, but you can head to entrepreneista.com forward slash partners forward slash relay to learn more about relay.
[00:49:46.320 --> 00:49:51.840] And then actually, when you fund your account on relay, you will get $100 when you fund your account.
[00:49:51.840 --> 00:49:55.440] So thank you for all of those extra goodies for our Entrepreneursa community.
[00:49:55.440 --> 00:49:56.720] We so appreciate it.
[00:49:56.960 --> 00:49:57.920] No problem.
[00:49:57.920 --> 00:50:05.920] And where else can all of our members find you and follow you personally, follow Relay, share all of the links and handles?
[00:50:05.920 --> 00:50:06.720] Yeah, okay, great.
[00:50:06.720 --> 00:50:09.360] So you can find Relay at relayfi.com.
[00:50:09.360 --> 00:50:10.080] That's our website.
[00:50:10.080 --> 00:50:12.880] It'll take you kind of to everywhere you want to be relay related.
[00:50:12.880 --> 00:50:17.200] You can find me probably LinkedIn is the best place to find me, Eleni Deacon on LinkedIn.
[00:50:17.440 --> 00:50:20.320] And also, I mean, we were talking about this before we started recording.
[00:50:20.320 --> 00:50:22.800] I know this is primarily an audience of entrepreneurs.
[00:50:22.800 --> 00:50:24.320] Relay is growing a ton.
[00:50:24.320 --> 00:50:31.760] So if you guys know anyone who's interested in getting involved in a fast-growing technology company, we are always hiring.
[00:50:31.760 --> 00:50:37.200] So you can visit relayfi.com slash careers to see the roles we have open right now.
[00:50:37.200 --> 00:50:37.680] Amazing.
[00:50:37.680 --> 00:50:37.920] Yeah.
[00:50:37.920 --> 00:50:44.960] So everyone, if you have friends that are looking for incredible roles at Relay, tell them to go check it out.
[00:50:44.960 --> 00:50:50.360] And again, for all of your financial solutions that you need and all the new things to come that you have.
[00:50:50.360 --> 00:50:55.360] Go ahead over to the show notes right now and you can tap through everything that we just mentioned.
[00:50:55.360 --> 00:51:01.320] Eleni, thank you so much for being here, sharing your incredible story, all of your incredible business and marketing tips.
[00:51:01.320 --> 00:51:03.000] We so appreciate it.
[00:50:59.680 --> 00:51:06.840] I'm Stephanie and this is the best business meeting I've ever had.
[00:51:09.320 --> 00:51:18.760] Hi entrepreneurs, it's Steph here and I hope today's episode has left you feeling inspired and with some actionable tips that you can apply to your own business.
[00:51:18.760 --> 00:51:26.120] The way we've grown our community and resources is by sharing content like this for years and asking for help along the way.
[00:51:26.120 --> 00:51:31.640] So here's where we need your help so we can continue to make as much impact as possible together.
[00:51:31.640 --> 00:51:41.400] If you can leave us a five-star review and extra credit if you share this episode on Instagram, LinkedIn, or DM it to a founder friend who would benefit from hearing it.
[00:51:41.400 --> 00:51:48.760] Not only would it mean the world to us, but you sharing this episode is going to help someone who just may need to hear what we share today.
[00:51:48.760 --> 00:51:51.720] And you know I love nothing more than giveaways and prizes.
[00:51:51.720 --> 00:51:58.440] So every month I'll be giving away a one-on-one session with me to someone who has shared the episode and left a review.
[00:51:58.440 --> 00:52:06.200] So send me a personal DM over on Instagram at Steph Jill Carton once you've done it so you can be entered to win.
[00:52:06.200 --> 00:52:11.960] Wishing you a productive week ahead and stay tuned for another impactful episode next week.

Prompt 2: Key Takeaways

Now please extract the key takeaways from the transcript content I provided.

Extract the most important key takeaways from this part of the conversation. Use a single sentence statement (the key takeaway) rather than milquetoast descriptions like "the hosts discuss...". 

Limit the key takeaways to a maximum of 3. The key takeaways should be insightful and knowledge-additive. 

IMPORTANT: Return ONLY valid JSON, no explanations or markdown. Ensure:
- All strings are properly quoted and escaped
- No trailing commas
- All braces and brackets are balanced
Format: {"key_takeaways": ["takeaway 1", "takeaway 2"]}

Prompt 3: Segments

Now identify 2-4 distinct topical segments from this part of the conversation.

For each segment, identify:
- Descriptive title (3-6 words)  
- START timestamp when this topic begins (HH:MM:SS format)
- Double check that the timestamp is accurate - a timestamp will NEVER be greater than the total length of the audio
- Most important Key takeaway from that segment. Key takeaway must be specific and knowledge-additive.
- Brief summary of the discussion

IMPORTANT: The timestamp should mark when the topic/segment STARTS, not a range. Look for topic transitions and conversation shifts.

Return ONLY valid JSON. Ensure all strings are properly quoted, no trailing commas:
{
  "segments": [
    {
      "segment_title": "Topic Discussion", 
      "timestamp": "01:15:30",
      "key_takeaway": "main point from this segment",
      "segment_summary": "brief description of what was discussed"
    }
  ]
}

Timestamp format: HH:MM:SS (e.g., 00:05:30, 01:22:45) marking the START of each segment.

Prompt 4: Media Mentions

Now scan the transcript content I provided for ACTUAL mentions of specific media titles:

Find explicit mentions of:
- Books (with specific titles)
- Movies (with specific titles)  
- TV Shows (with specific titles)
- Music/Songs (with specific titles)

DO NOT include:
- Websites, URLs, or web services
- Other podcasts or podcast names

IMPORTANT: 
- Only include items explicitly mentioned by name. Do not invent titles.
- Valid categories are: "Book", "Movie", "TV Show", "Music"
- Include the exact phrase where each item was mentioned
- Find the nearest proximate timestamp where it appears in the conversation
- THE TIMESTAMP OF THE MEDIA MENTION IS IMPORTANT - DO NOT INVENT TIMESTAMPS AND DO NOT MISATTRIBUTE TIMESTAMPS
- Double check that the timestamp is accurate - a timestamp will NEVER be greater than the total length of the audio
- Timestamps are given as ranges, e.g. 01:13:42.520 --> 01:13:46.720. Use the EARLIER of the 2 timestamps in the range.

Return ONLY valid JSON. Ensure all strings are properly quoted and escaped, no trailing commas:
{
  "media_mentions": [
    {
      "title": "Exact Title as Mentioned",
      "category": "Book",
      "author_artist": "N/A",
      "context": "Brief context of why it was mentioned",
      "context_phrase": "The exact sentence or phrase where it was mentioned",
      "timestamp": "estimated time like 01:15:30"
    }
  ]
}

If no media is mentioned, return: {"media_mentions": []}

Full Transcript

[00:00:00.880 --> 00:00:05.680] Hey, Entrepreneurs, it's Steph here with a special invite just for you.
[00:00:05.680 --> 00:00:10.800] Do you want to experience what it's like to be part of our Entrepreneursa League community of founders?
[00:00:10.800 --> 00:00:12.400] Now is your chance.
[00:00:12.400 --> 00:00:21.360] You can join me this month at one of our upcoming Entrepreneursa League info sessions where I'm going to share with you all you're going to get access to when you join the community.
[00:00:21.360 --> 00:00:27.040] Plus, I'll be giving away some big bonuses that you will only be able to get access to when you attend live.
[00:00:27.040 --> 00:00:35.600] Head over to refer.entreprenista.com forward slash info session to join us at one of our virtual info sessions this month.
[00:00:35.600 --> 00:00:40.640] That's refer.entrepranista.com forward slash info session.
[00:00:40.640 --> 00:00:44.560] Or head over to the show notes right now and tap the link to join us.
[00:00:44.560 --> 00:00:49.280] I can't wait to meet you there and learn more about you and your business.
[00:00:49.920 --> 00:00:52.880] The first thing to start with is just who your customer is.
[00:00:52.880 --> 00:01:01.360] And I know that that's like so basic, so first principles, but I think it can candidly get a bit lost in all of the tips that you see out there, all the education out there.
[00:01:01.360 --> 00:01:04.960] Really, the success of your strategies is going to depend on how well you know your customer.
[00:01:04.960 --> 00:01:22.160] So your definition of that customer, how much time you spend with them and like how deeply you understand them, both from like a tactical, what are they trying to do that you're helping them do, whether that's like you're giving them a physical product or you're helping them with the workflow like we're doing at Relay, all the way up to the emotional side of their work.
[00:01:26.320 --> 00:01:31.680] Today we have such a special episode for you and one that can truly benefit you and your business.
[00:01:31.680 --> 00:01:37.200] Eleni Deakin is the VP of marketing at Relay and she's about to share all her secrets with you.
[00:01:37.200 --> 00:01:46.720] Relay is one of our incredible partners at Entrepreneur and they are all about helping business owners have complete control over what you're earning, spending, and savings.
[00:01:46.720 --> 00:01:56.400] So, regardless of your industry, the insights that she's about to share will transform your approach to marketing and understanding your customers and data-driven business strategies.
[00:01:56.400 --> 00:02:05.880] So, get ready because Eleni is sharing all her secrets with you and why having the right resources is essential to building and scaling your business.
[00:02:08.120 --> 00:02:11.560] This is the Entrepreneur Podcast presented by Socialfly.
[00:02:11.560 --> 00:02:22.200] It's the best business meeting you'll ever have with must-hear real-life looks at how leading women in business are getting it done and what it takes to build and grow a successful company.
[00:02:22.200 --> 00:02:28.200] It's beyond the Graham with no filters, no limits, and plenty of surprises.
[00:02:34.280 --> 00:02:39.000] Eleni, I am so thrilled to finally be recording this episode with you.
[00:02:39.000 --> 00:02:44.760] I have to share with our whole community right now that we have been literally counting down the days.
[00:02:44.760 --> 00:02:57.320] We've been planning this recording for a very long time, and we are so thrilled because Relay has partnered with Entrepreneursa because you wanted to share incredible solutions and financial solutions with our community.
[00:02:57.320 --> 00:03:09.240] And I wanted to be sure to have you on the podcast to be able to share all of these resources at scale with not just the members of our Entrepreneursa League, but our entrepreneur community at large and our podcast listeners.
[00:03:09.240 --> 00:03:12.840] Because what you have all created at Relay is so important.
[00:03:12.840 --> 00:03:22.120] I talk about this on the podcast all the time and in the community: that if you are going to build a profitable, scalable business, you need to be sure you are building a profitable business.
[00:03:22.120 --> 00:03:25.400] And the only way to do that is to know your numbers, and you have all of those solutions.
[00:03:25.400 --> 00:03:28.760] So, thank you so much for sitting down with me this afternoon, Eleni.
[00:03:29.080 --> 00:03:29.720] I love that.
[00:03:29.720 --> 00:03:30.520] Thank you so much.
[00:03:30.520 --> 00:03:31.880] We love Entrepreneur.
[00:03:31.880 --> 00:03:33.800] I'm so excited to be here.
[00:03:34.120 --> 00:03:35.640] Excited for this conversation.
[00:03:35.640 --> 00:03:44.720] And I have to share this too before we even dive in because I want all of our members and listeners to hear all about your career journey and background, what led you to Relay?
[00:03:44.440 --> 00:03:49.600] But I was actually texting with one of our members, Sam Gold.
[00:03:49.680 --> 00:03:53.920] She just launched her brand new business, this kid's pajama brand called Motet.
[00:03:53.920 --> 00:03:55.600] It is, I have her products ready.
[00:03:55.600 --> 00:03:57.280] We are the softest pajamas.
[00:03:57.600 --> 00:04:00.000] And we were texting because she had all these questions for me.
[00:04:00.000 --> 00:04:03.840] And she shared with me, she just signed up to bang with Relay and she loves it.
[00:04:03.840 --> 00:04:05.920] And she signed up because of our partnership.
[00:04:05.920 --> 00:04:12.400] Because one of our members, who is a bookkeeper and accountant, she's also working with Relay now through our partnership.
[00:04:12.400 --> 00:04:14.560] And she's been recommending Relay to our members.
[00:04:14.560 --> 00:04:16.240] I was so excited to hear that.
[00:04:16.240 --> 00:04:18.080] That is awesome to hear.
[00:04:18.320 --> 00:04:23.360] I feel like perhaps little known fact, but Relay actually got our initial traction through accountants and bookkeepers.
[00:04:23.360 --> 00:04:24.640] We love accountants and bookkeepers.
[00:04:24.640 --> 00:04:26.240] We work really closely with them.
[00:04:26.240 --> 00:04:29.520] And that relationship is just so important for a business owner.
[00:04:29.920 --> 00:04:34.320] That really close tie with your accountant or bookkeeper can really be a huge unlock as a business owner.
[00:04:34.320 --> 00:04:35.440] That's awesome to hear.
[00:04:35.440 --> 00:04:36.080] Absolutely.
[00:04:36.080 --> 00:04:39.520] And I think, you know, we'll get into this when we talk all about marketing and marketing strategy.
[00:04:39.520 --> 00:04:41.680] But like when you think about any business, right?
[00:04:41.680 --> 00:04:46.720] It's like who is the who are going to be those core referral partners that are going to spread the word about your business.
[00:04:46.720 --> 00:04:59.440] And of course, when you have a financial company, the centers of influence for finances for a business owner are those bookkeepers and accountants and people that are touching the financial being of the business.
[00:04:59.440 --> 00:05:04.480] So that makes perfect sense that they were your initial, you know, early adopters of the platform.
[00:05:04.480 --> 00:05:13.440] So, all right, before we get all excited about all of these great things at Relay, because I could talk about it all day long, you know, I want our members and our listeners to really understand you, Eleni.
[00:05:13.440 --> 00:05:16.800] Like, what led to you starting to work at Relay?
[00:05:16.800 --> 00:05:23.840] You have this incredible marketing background, which I know our members are going to be so excited to just learn from you as marketing changes every single day.
[00:05:23.840 --> 00:05:25.200] But what led you to Relay?
[00:05:25.360 --> 00:05:27.120] So, Relay is my second startup.
[00:05:27.360 --> 00:05:32.040] I had previously joined a business that was at a similar stage to where Relay was when I first joined Relay.
[00:05:32.040 --> 00:05:35.480] So, you know, pre-1 million in revenue, early days of a business.
[00:05:29.840 --> 00:05:37.000] That had been an incredible experience.
[00:05:37.240 --> 00:05:39.080] I spent about five years there.
[00:05:39.240 --> 00:05:44.600] I took a bit of time off after that and was just kind of exploring new opportunities at a certain point.
[00:05:44.840 --> 00:05:47.800] What took me to Relay was I think three key things.
[00:05:47.800 --> 00:05:49.720] One was the product itself.
[00:05:49.720 --> 00:06:02.600] Actually, I feel like this is, you know, a really big piece for me: I watched a demo of the product again super early in Relay's journey, and the guy on the other side who was receiving the demo said, finally, finally, finally, finally, finally.
[00:06:02.600 --> 00:06:05.400] And I didn't even really, you know, understand what I was watching.
[00:06:05.400 --> 00:06:07.320] I didn't really understand what the tool was.
[00:06:07.320 --> 00:06:15.640] But seeing a reaction like that from a potential customer, it was clear: A, there was something really broken in his workflow that he was really excited to have fixed.
[00:06:15.640 --> 00:06:18.440] And B, that this was like true enthusiasm.
[00:06:18.440 --> 00:06:25.480] And for me as a marketer, getting behind a customer base that truly loves your product is just really fun and really exciting.
[00:06:25.720 --> 00:06:33.320] I think the second piece was marketing to small business owners, a huge market, just really fun people that inspire me.
[00:06:33.640 --> 00:06:44.440] For me as a marketer, again, the idea of so much opportunity, so many different tactics that you can test, so much creativity you can put out there, and people who really care about what they're doing.
[00:06:44.440 --> 00:06:49.640] That market and just the small business owners themselves, the idea of spending a lot of time with them really excited me.
[00:06:49.800 --> 00:06:57.560] And the third was the team I have known, the CEO of Relay since, you know, before joining Relay, we work in the same city, we're in the same ecosystem.
[00:06:57.560 --> 00:07:02.360] So having had that baseline relationship got me excited about working together more closely, too.
[00:07:02.360 --> 00:07:02.760] Yeah.
[00:07:02.760 --> 00:07:03.960] Well, that's what it's all about.
[00:07:03.960 --> 00:07:06.040] I talk about this all the time: relationships, right?
[00:07:06.040 --> 00:07:13.560] That is the key to success in life and in business: building relationships with other amazing humans.
[00:07:13.560 --> 00:07:18.400] And when opportunities come, when you've built these relationships, that's when that's when these doors open.
[00:07:18.400 --> 00:07:22.160] Eleni, what was your marketing background prior to taking the job at Relay?
[00:07:22.480 --> 00:07:28.640] Yeah, I've had a bit of a kind of a winding journey towards being, you know, startup scale-up marketer.
[00:07:28.800 --> 00:07:33.680] I spent most of my 20s, you know, first decade of my career, not explicitly in marketing at all.
[00:07:33.680 --> 00:07:35.600] I was an English major.
[00:07:35.600 --> 00:07:39.280] I was interested in writing and I was interested in arts and culture, really.
[00:07:39.280 --> 00:07:41.280] And I kind of saw a career in that field.
[00:07:41.280 --> 00:07:52.320] I spent most of that first decade doing contract work, quite honestly, a mix of comms, PR, copywriting, a little bit of marketing, mostly at arts and culture organizations, film festivals, and things like that.
[00:07:52.560 --> 00:07:56.480] I really actually use that experience, I think, every day now in my work in tech.
[00:07:56.480 --> 00:08:03.760] The storytelling elements, the scrappiness, it all has really translated over and been, you know, a really good kind of starting ground for me.
[00:08:04.000 --> 00:08:10.480] I got my first entry into the startup world through kind of a writing and content job at my previous startup.
[00:08:10.480 --> 00:08:20.160] And it all kind of clicked for me when I was able to bring the creative side together with the quantitative side of marketing and see those two things work together in action.
[00:08:20.160 --> 00:08:30.880] I never really expected myself to be somebody who was in tech or working in startups, but seeing the results of your effort, which I'm sure is something very satisfying for your community too.
[00:08:30.880 --> 00:08:37.520] You know, you're really putting in the sweat equity and you're a sweat labor and you're sort of seeing the growth that you're creating.
[00:08:37.520 --> 00:08:39.840] That really was so exciting for me.
[00:08:40.080 --> 00:08:45.200] And that from there, I just really fell in love with kind of startup world building, building basically.
[00:08:45.360 --> 00:08:59.600] Yeah, no, I just feel like every word of what you're sharing, we had, I was sharing with you before we started recording, we had our community town hall today that we do every quarter to share all the latest updates and wins and everything that's been happening for our members in our community and what's ahead.
[00:08:59.800 --> 00:09:13.160] And just every day in our community, just seeing everyone connect and doing business together and learning from each other and knowing like how much work Courtney and I have done behind the scenes for many, many years to build Entrepreneursa to what it is today.
[00:09:13.160 --> 00:09:18.040] Like there's nothing that feels better than building something that's impactful.
[00:09:18.040 --> 00:09:25.640] And so many of the members in our community are building businesses like this and then can see essentially the fruits of their labor.
[00:09:25.640 --> 00:09:29.720] And it just, it feels so good to actually be able to see that.
[00:09:29.720 --> 00:09:35.320] Yeah, the tactileness of being like, we were here and now we're here and it's really obvious.
[00:09:35.320 --> 00:09:36.280] I love that.
[00:09:36.280 --> 00:09:37.400] No, absolutely.
[00:09:37.400 --> 00:09:42.200] So you talk to a lot of small business owners, a lot of your customers of Relay.
[00:09:42.200 --> 00:09:45.320] Like, what have you been hearing from small business owners, especially right now?
[00:09:45.320 --> 00:09:49.000] Like, what are the biggest challenges that you're hearing on the front lines?
[00:09:49.000 --> 00:09:55.480] Yeah, I mean, I think for us, something that we anchored on pretty early at Relay was this question of cash flow.
[00:09:55.480 --> 00:10:03.320] So in the theme of know your numbers, I think when you're building software, it can be really easy to kind of default to make things faster, make things more automated.
[00:10:03.320 --> 00:10:05.400] And, you know, that's part of our vision at Relay.
[00:10:05.400 --> 00:10:09.480] We want to make things faster, easier, more automated, cheaper, all of that.
[00:10:09.480 --> 00:10:23.560] But as you get in deeper with the small business owner, in my experience at least, you uncover this kind of driving concern around the money in their business, around, you know, can I survive till tomorrow, till next month, till the month after?
[00:10:23.880 --> 00:10:30.680] And almost this kind of maybe it's a bit of a confidence gap, like, can I know this side of my business?
[00:10:31.080 --> 00:10:53.920] And while, you know, a lot of folks out there, I think in our market are talking about, yeah, that automation, making your finances easier, we kind of took a different tack from that feedback that we were hearing around: can we actually make you like really great at your finances, really confident around your finances, actually put them front and center, put your money front and center and get you like proud and excited to be, you know, building and knowing your numbers.
[00:10:54.080 --> 00:11:12.160] So I think that just to go back to your original question, I think that question of, you know, my cash flow, will my business kind of make it till tomorrow is a consistent driving concern that, you know, takes on different kinds of shades through different stages of a business or like outside kind of macroeconomic factors.
[00:11:12.160 --> 00:11:25.920] But to me, that's a through line that's like just persistent for business owners of like, how can I get a handle on the cash in my business, feel confident that I can pay my team, my vendors, whatever next month, and just feel good about my growth, basically.
[00:11:26.320 --> 00:11:34.400] Can you share more about how the Relay platform is essentially set up so business owners can feel really confident in their financials?
[00:11:34.400 --> 00:11:37.280] Because I mean, I'll take myself as an example, right?
[00:11:37.280 --> 00:11:38.880] So I'm not a numbers person.
[00:11:38.880 --> 00:11:42.000] I'm very lucky that I have the most amazing business partner.
[00:11:42.000 --> 00:11:51.360] So my background and specialty is, you know, sales and marketing, business development, community building, you know, knowing how to build a business, of course.
[00:11:51.360 --> 00:11:54.640] And Courtney, my business partner, her background is finance and operations.
[00:11:54.640 --> 00:12:00.880] So I've always been able to lean on Courtney to manage all the finance and operations of the business.
[00:12:00.880 --> 00:12:09.200] So although I want to know as much as I can, I haven't had to be like the number one expert because I have a business partner where that is her specialty.
[00:12:09.200 --> 00:12:19.760] But a lot of the members in our community are solo founders who have created a business because they were, you know, passionate about something and they wanted to build a business around it.
[00:12:19.760 --> 00:12:22.960] But finance and business finance wasn't their background.
[00:12:22.960 --> 00:12:28.480] And it can feel really intimidating, really scary to feel like, I'm not good at the numbers.
[00:12:28.480 --> 00:12:30.680] I don't, that's, I don't know that.
[00:12:29.840 --> 00:12:35.480] And then to feel like you could have a platform and support to be able to help you is so important.
[00:12:35.720 --> 00:12:42.760] So how have you done it really to really empower the average business owner where this wasn't your background to be able to scale?
[00:12:43.080 --> 00:12:43.560] Cool.
[00:12:43.560 --> 00:12:43.800] Okay.
[00:12:43.800 --> 00:12:48.920] So I'm going to take firstly like what we do today and where we've really enabled today.
[00:12:48.920 --> 00:12:52.440] And then I'm going to talk about where we're going in future and very near future.
[00:12:52.440 --> 00:12:56.520] So I think kind of pegging off that initial problem, I'm a business owner.
[00:12:56.520 --> 00:12:59.880] I am not really confident or I don't really know my numbers.
[00:12:59.880 --> 00:13:01.240] It's not my specialty.
[00:13:01.240 --> 00:13:04.120] Where does a business owner go to know their numbers by default?
[00:13:04.120 --> 00:13:05.080] Their bank account.
[00:13:05.080 --> 00:13:09.160] You wake up in the morning, you kind of check your balance, you make decisions based off a bank balance.
[00:13:09.160 --> 00:13:14.600] So kind of taking off that reality, we've built digital banking for small business owners.
[00:13:14.920 --> 00:13:23.320] One behavior that we're really trying to support small business owners to avoid is that looking at one account and making decisions off your business based on that one account.
[00:13:23.320 --> 00:13:31.560] So a big piece of relay and what we enable is cash flow visibility through segregation of funds or dividing up your money into different bank accounts.
[00:13:31.560 --> 00:13:38.920] Some folks use a methodology called Profit First to do this, but really the core concept is don't put all your money in one place in one account.
[00:13:38.920 --> 00:13:46.200] Split it up by function, by project, by team, whatever makes the most sense for you so that you can get that kind of bird's eye view of the business.
[00:13:46.200 --> 00:13:49.880] In our core platform, we offer free banking up to 20 checking accounts.
[00:13:49.880 --> 00:13:54.200] You can make payments, spin up up to 50 debit cards on relay.
[00:13:54.200 --> 00:14:01.800] So you can also kind of divide your payments by card, give cards to your team safely, and really great connection to our account, your accountant.
[00:14:01.800 --> 00:14:07.800] So, giving your accountant access without having to give them your password, really great feeds into accounting software.
[00:14:07.800 --> 00:14:15.120] So, that kind of core functionality that you might be doing to kind of like get that visibility around what you're earning, spending, and saving.
[00:14:14.840 --> 00:14:20.480] That's what our core platform offers: a leveled-up version of what you might be getting in a traditional checking account.
[00:14:20.800 --> 00:14:31.680] Now, moving into the future, and this is something that we're rolling out now at really is combining banking, which I think a lot of the market still sort of sees as you know, a branch down the street with software.
[00:14:31.680 --> 00:14:37.440] So, again, kind of going back to that core idea of you're a business owner, you wake up in the morning and you check your bank account.
[00:14:37.440 --> 00:14:40.000] What if that bank account did so much more for you?
[00:14:40.000 --> 00:14:47.600] What if your invoicing could be embedded straight into it so you get that really close through line between what's in your checking account and this workflow that you're doing?
[00:14:47.840 --> 00:14:53.360] Payroll, bill pay, more functionality around our cards and enabling a team.
[00:14:53.520 --> 00:15:05.440] We're trying to build as many of those workflows like straight into banking to really bring you closer and closer to your money and give you more and more kind of control over where those movements are going.
[00:15:05.440 --> 00:15:13.600] Yeah, that is so helpful because I will tell you, you know, something Courtney's actually been analyzing in our business is: what are all the subscriptions that we have?
[00:15:13.840 --> 00:15:15.120] Do we need all these things?
[00:15:15.120 --> 00:15:16.000] Because they add up.
[00:15:16.000 --> 00:15:21.600] It's like from one thing that's $20 a month here, $90 a month there, $300 a month there, it all adds up.
[00:15:21.600 --> 00:15:33.920] And to be able to consolidate lots of those tools into one tool is so helpful because, yeah, you know, I'm speaking as a business owner here, not just a podcast host and you know, the founder, Roger Bernista.
[00:15:33.920 --> 00:15:36.640] Like, we're running a business and it's a lot.
[00:15:36.640 --> 00:15:41.440] So, thank you for seeing all those challenges we are all facing already and creating solutions.
[00:15:41.840 --> 00:15:56.640] Yeah, I think there's the fee consolidation, there's like the time consolidation, but just also the more, maybe just at a slightly higher altitude, the more, I guess, operational, higher-level operational consolidation of all of what I need to do is in one place.
[00:15:56.640 --> 00:15:58.240] I can get that visibility.
[00:15:58.240 --> 00:16:00.360] And then, looking into the future, you know, where're a tech company.
[00:15:59.920 --> 00:16:09.960] We're looking at how AI, we can leverage things like AI to deliver really smart insights to business owners, how we can kind of connect more of the accounting workflows back to banking really explicitly.
[00:16:09.960 --> 00:16:16.200] So a lot that we're doing in the future to kind of bring that whole experience full circle.
[00:16:16.200 --> 00:16:17.320] Oh my gosh, I love that.
[00:16:17.320 --> 00:16:22.200] Well, that was a great segue into AI because I want to talk all about AI and marketing.
[00:16:22.200 --> 00:16:23.480] You are a career marketer.
[00:16:23.720 --> 00:16:25.720] You are working in the B2B space.
[00:16:25.720 --> 00:16:35.320] And a lot of our members, I think I was sharing this with you: half of our members are service-based businesses, half of our members have product-based business, nonprofits, and everything in between, really.
[00:16:35.320 --> 00:16:45.800] But for our service-based businesses who are B2B marketers, like you are, what are the best strategies that you are seeing are really working to be able to reach the right customer?
[00:16:46.280 --> 00:16:48.440] In general, or AI-specific?
[00:16:48.440 --> 00:16:49.640] Oh, let's do both.
[00:16:49.640 --> 00:16:50.440] Let's do both?
[00:16:50.440 --> 00:16:51.400] Okay, yeah.
[00:16:51.400 --> 00:16:58.440] You know, I think it's an oldie, but I actually feel like this, the first thing to start with is just who your customer is.
[00:16:58.440 --> 00:17:07.560] And I know that that's like so basic, so first principles, but I think it can candidly get a bit lost in all of the tips that you see out there, all the education out there.
[00:17:07.560 --> 00:17:11.400] Really, the success of your strategies is going to depend on how well you know your customer.
[00:17:11.400 --> 00:17:29.080] So, your definition of that customer, how much time you spend with them, and like how deeply you understand them, both from like a tactical, what are they trying to do that you're helping them do, whether that's like you're giving them a physical product or you're helping them with a workflow like we're doing at Relay, all the way up to the emotional side of their work.
[00:17:29.080 --> 00:17:33.400] You know, why did they start the business that they started, or why are they doing what they're doing?
[00:17:33.400 --> 00:17:34.600] What do they care about?
[00:17:34.600 --> 00:17:38.920] The deeper you can know your customer, the more obvious what your strategies are going to be.
[00:17:38.920 --> 00:17:43.480] I'm kind of of the belief that there is no one playbook to do these things.
[00:17:43.480 --> 00:17:48.480] I think coming out of my first startup, I had a really expected playbook, just to kind of share an anecdote.
[00:17:48.640 --> 00:17:53.280] When I interviewed at Relay, I actually was like, Here's the five things we're going to do, this is how we're going to grow this business.
[00:17:53.280 --> 00:17:54.880] We don't do any of those things.
[00:17:55.120 --> 00:18:01.680] It's all different channels, different approaches here at Relay because we have a different customer, and that customer hangs out in different places.
[00:18:01.680 --> 00:18:05.760] They care about different things, the market is changing, the technology is changing.
[00:18:05.760 --> 00:18:11.440] So, I think for me, the really important thing to anchor on is like who that customer is.
[00:18:11.440 --> 00:18:15.520] And then from there, it's where, yeah, where do they spend time and where do they congregate?
[00:18:15.520 --> 00:18:24.320] So, just to give this example of us being here, we know that entrepreneurs spend time with each other and they form groups and they join membership organizations like Entrepreneur.
[00:18:24.320 --> 00:18:26.720] That's why we value these partnerships so much.
[00:18:27.040 --> 00:18:39.440] And we are willing to put in the time, we want to put in the time to spend with groups like yours because we know that that relationship, that deep relationship building is really valued by our customer and something we really value as well in turn.
[00:18:39.680 --> 00:18:44.640] So, really finding those kind of places where your customer is spending time.
[00:18:44.640 --> 00:18:51.760] And then, I think from there, it's level layering on what are the distribution tactics that will get you access to those places.
[00:18:51.760 --> 00:19:00.480] So, you know, if they're spending a lot of time in search, let's say, or you're really wanting to have a search-oriented strategy, maybe you're selling again, like a physical good that is really dependent on that.
[00:19:00.480 --> 00:19:02.160] Then it's looking at things like Google Ads.
[00:19:02.160 --> 00:19:06.240] But that's not necessarily going to be the strategy for you if your customer is not there.
[00:19:06.720 --> 00:19:18.080] So, yeah, I think it's knowing your customer, knowing where they spend time and what they care about, and then finding those distribution tactics on top of that that will be effective to get you access to that customer in those places.
[00:19:18.400 --> 00:19:22.800] How do you do the research to really find out and understand who your customer is?
[00:19:22.800 --> 00:19:26.000] Do you have any tools that you use or best practices or strategies?
[00:19:26.320 --> 00:19:29.040] Yeah, I think the first thing I will always say is talk to them.
[00:19:29.360 --> 00:19:31.560] To me, that's just like hands down the most important thing.
[00:19:31.560 --> 00:19:33.560] Like, get on a call, interview five of them.
[00:19:33.560 --> 00:19:39.640] You're going to get, you know, most of, I think out of five calls, you're going to have so many, honestly, you're going to have so many ideas from those five calls.
[00:19:39.880 --> 00:19:42.680] So that's always, always where I start.
[00:19:42.920 --> 00:19:49.560] I think for me, a big piece that I engage is just social media, like by osmosis.
[00:19:49.560 --> 00:19:56.920] So I'll kind of go on and I'll be searching different hashtags or I'll be searching different folks I know are in the space or folks who are influential in the space.
[00:19:56.920 --> 00:20:07.000] And, you know, sometimes what I've done is I've built, you know, a shadow account on Instagram where I've just kind of added a ton of people in the space that I'm researching and then let myself build a feed where I'm just seeing that.
[00:20:07.000 --> 00:20:15.320] So I can understand, again, the temperature of the market, which is just as important to me as just like what you can, what you want to do, the kind of nuts and bolts stuff.
[00:20:15.560 --> 00:20:32.120] And then, you know, there's deeper kind of tactics that you can use that are kind of maybe more book learning type research, like obviously, you know, Googling things and like reading about using, you know, ChatGPT to understand the workflows more deeply, understand the other tools in the space, build a kind of map of the ecosystem of the space.
[00:20:32.360 --> 00:20:33.880] That can be really helpful too.
[00:20:33.880 --> 00:20:36.600] You'll get a bunch of that from your customer interviews.
[00:20:36.600 --> 00:20:47.480] Like that will start coming out and kind of lead you to what you need to be searching to build a kind of more of a narrative around who your customer is.
[00:20:47.480 --> 00:20:47.880] Yeah.
[00:20:47.880 --> 00:20:48.600] No, I love that.
[00:20:48.600 --> 00:20:48.920] All right.
[00:20:48.920 --> 00:20:50.760] Let's talk all about AI right now.
[00:20:50.760 --> 00:21:03.560] I am just obsessed with AI tools because I truly believe that there is now so much more opportunity for us by having access to these robots who know even more than we do.
[00:21:03.560 --> 00:21:12.120] Like Eleni, I put in, I was trying to pull content for social that I can be sharing things more consistently, even on my LinkedIn.
[00:21:12.120 --> 00:21:17.040] And I asked ChatGPT, I'm like, share, like, I've recorded hundreds of podcast episodes.
[00:21:14.360 --> 00:21:18.800] I've shared all this advice on XYZ.
[00:21:19.200 --> 00:21:23.280] Can you pull for me like all of the best things I've said on like insert things here, right?
[00:21:23.280 --> 00:21:27.120] So I put in that prompt, and then I'm like, oh my God, I forgot I said that.
[00:21:27.120 --> 00:21:28.160] I forgot I did that.
[00:21:28.160 --> 00:21:30.000] Like these tools know.
[00:21:30.320 --> 00:21:30.960] They know.
[00:21:30.960 --> 00:21:35.520] And it's like, we have to embrace it and use it because other business owners are.
[00:21:35.520 --> 00:21:38.720] So if you're not doing it, you're going to be left behind.
[00:21:38.720 --> 00:21:49.280] So I want to talk about from a marketing perspective, how are you like personally and professionally, like in the marketing department, embracing AI, using AI to do things better or faster?
[00:21:49.600 --> 00:21:53.200] Yeah, I think one thing I'd say is I think we're early in our journey at Relay.
[00:21:53.200 --> 00:21:59.360] I think there's still so much to learn and we have candidly not operationalized it anywhere near to the level that we want.
[00:21:59.360 --> 00:22:07.200] Even here at Relay, we're trying to figure out how do we do this safely, internally, protecting our data as closely as we can.
[00:22:07.200 --> 00:22:08.240] I think it's still very early.
[00:22:08.320 --> 00:22:13.360] I think one thing I'd say is I think it's still very early in this journey to kind of figure out how you want to implement it.
[00:22:13.360 --> 00:22:21.840] I would say for us in marketing, there's a few ways that we are currently working on exploring it both for internal productivity and in our marketing work.
[00:22:21.840 --> 00:22:25.040] I think there's a big opportunity around the personalization.
[00:22:25.040 --> 00:22:30.400] So, you know, you land on our website, you receive communication, and it's like much more tailored to you.
[00:22:30.400 --> 00:22:36.880] We are exploring campaigns that involve things like quizzes and, you know, just to the question of money management.
[00:22:37.200 --> 00:22:52.080] You know, you allowing somebody in the market to kind of put in their questions around money management and us giving them smart advice back and being able to really customize what we're getting versus the traditional download an e-book kind of question.
[00:22:52.080 --> 00:22:58.160] So, how can we leverage it to provide something much more custom for the customer on the other side?
[00:22:58.160 --> 00:23:00.000] I think the research component is pretty big.
[00:23:00.520 --> 00:23:02.840] How do you understand the market better?
[00:23:02.840 --> 00:23:11.800] How do you get insights that maybe are a little bit harder to kind of piece together from other systems and just fast track what you're trying to do?
[00:23:12.120 --> 00:23:16.840] And then for us, I think a big piece that we want to explore, but again, this question of like how do we do this safely?
[00:23:16.840 --> 00:23:26.520] Because I think that's a big concern around AI, is mining our own data and pulling insights and ideas out of our own data in a way that we can then leverage for marketing.
[00:23:26.520 --> 00:23:29.160] That's another big piece that we're talking about right now, too.
[00:23:29.480 --> 00:23:39.160] So I have to tell you: so, I was speaking, I mentioned I was speaking on a panel this weekend at this Mom 2.0 summit, and AI was a big topic at the conference that I was at.
[00:23:39.160 --> 00:23:42.680] And actually, Brene Brown was one of the speakers on the event of eto.
[00:23:42.680 --> 00:23:43.800] Brene, she's amazing.
[00:23:43.800 --> 00:23:46.520] And she was talking about being like, are you kind?
[00:23:46.520 --> 00:23:48.680] Are you nice to your AI robots?
[00:23:48.680 --> 00:23:54.440] Because she was like, when that, when the robots come for us, they're going to remember who was nice and who wasn't.
[00:23:54.440 --> 00:23:56.920] So make sure you're being kind to them.
[00:23:56.920 --> 00:24:01.240] So that was a takeaway from this weekend that I love that.
[00:24:02.120 --> 00:24:02.600] I agree.
[00:24:02.600 --> 00:24:16.680] We're in the early days with AI, but I just think, you know, as business owners, even if we're not using it in our day-to-day business or operations, you have to at least stay on the forefront and know what is happening because otherwise you will be left behind.
[00:24:16.680 --> 00:24:24.280] Yeah, I think there's a pretty big call to action internally here at Relay to really start making it a requirement for us all to be using it.
[00:24:24.280 --> 00:24:30.200] And I think, though, there's a nuance, I think, for me in this, kind of going back to the like, know your customer.
[00:24:30.200 --> 00:24:39.000] I think AI can unlock a lot for you and can give you a lot more specificity, as I was saying, around how you're communicating, a lot more speed, a lot more ability to synthesize.
[00:24:39.000 --> 00:24:43.400] But nothing I think can really actually take away from the firsthand knowledge.
[00:24:43.400 --> 00:24:57.760] And I think the power of it in marketing is going to come from being able to combine, you know, some of those productivity gains, the personalization gains with firsthand insights, firsthand emotional connection, and actually tie that together.
[00:24:58.080 --> 00:25:07.680] There's a lot of chatter as well in marketing about how, you know, with this kind of move towards AI, the ingenuity, the humanness of your thinking becomes really a lot more valuable.
[00:25:07.680 --> 00:25:12.880] So my kind of line to my team is like, we got to learn to use this, these tools and really be great at them.
[00:25:12.880 --> 00:25:17.760] This is going to be a differentiator for us, not just at relay, but in our next jobs and your next jobs.
[00:25:18.000 --> 00:25:27.120] But in that context, really honing the tool of your own creativity and being able to bring that together, I think is where a lot of the power is going to be here.
[00:25:27.120 --> 00:25:28.160] Absolutely.
[00:25:28.160 --> 00:25:35.840] Up next, you'll hear Eleni's best tips for creating a marketing strategy to build a profitable and scalable business.
[00:25:41.520 --> 00:25:42.720] Hi, Entrepreneurs.
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[00:26:48.520 --> 00:26:49.880] I'll see you there.
[00:26:59.720 --> 00:27:13.960] So, Eleni, of course, a lot of our business owners are not, you know, industry marketers and they have created a business and now they realize, like, I need a product, but like, oh my gosh, now I have to learn marketing and actually sell this and create a marketing budget.
[00:27:13.960 --> 00:27:15.160] Like, where should I even start?
[00:27:15.160 --> 00:27:24.600] So, where do you recommend business owners start when they think about where they should be investing when they're just getting started in their business or in their marketing strategy?
[00:27:24.600 --> 00:27:31.160] Okay, I'm not going to go back to talk to your customer because that is where they need to start, but I'm going to give some more tactical.
[00:27:31.640 --> 00:27:33.080] Okay, where would I start?
[00:27:33.080 --> 00:27:35.560] So, I think I would kind of make that map.
[00:27:35.560 --> 00:27:40.600] Maybe it's a list of two to three places where I know my customer is.
[00:27:40.600 --> 00:27:48.120] I think, you know, I did a course in marketing kind of early in my tech career that brought together a lot of insights from really big tech companies.
[00:27:48.120 --> 00:27:53.080] And really, I remember a light bulb moment for me from that course was: you don't need a million marketing plays.
[00:27:53.080 --> 00:27:56.680] You typically just need like one that's really good for you, at least to start.
[00:27:56.680 --> 00:27:58.600] Here at Relay, we had accountants and bookkeepers.
[00:27:58.600 --> 00:27:59.480] That was our first play.
[00:27:59.480 --> 00:28:01.400] And that was all I did for my first year at Relay.
[00:28:01.400 --> 00:28:03.240] I joined Relay when we were really early.
[00:28:03.560 --> 00:28:07.720] And we really just, you know, pounded the pavement in that channel.
[00:28:07.720 --> 00:28:14.760] So, I think identify where your customer is and how identify maybe one to two ways you can access that customer.
[00:28:14.760 --> 00:28:21.920] So, out of that might come, they attend trade shows, they search things on Google that I want to show up for.
[00:28:22.240 --> 00:28:25.600] They are in my neighborhood, I need to connect with them in my neighborhood.
[00:28:25.920 --> 00:28:27.840] They, what's another example?
[00:28:27.840 --> 00:28:28.720] They're on Instagram.
[00:28:28.720 --> 00:28:32.000] Like, this is a very socially oriented customer base.
[00:28:32.000 --> 00:28:35.280] So, find where they are, and then how do you get into that space?
[00:28:35.280 --> 00:28:37.600] So, you know, what are the tactics that others are doing?
[00:28:37.600 --> 00:28:38.800] I think that can be useful, though.
[00:28:38.800 --> 00:28:42.480] You're going to want to put your own spin on it to access this customer in this space.
[00:28:42.640 --> 00:28:44.800] And then, yeah, how do I differentiate within that?
[00:28:44.800 --> 00:28:55.200] So, let's say we're taking a really classic example of like Google ads, where there's really clear, you know, search volume against the thing that you are selling, whether that's a service or a product.
[00:28:55.600 --> 00:28:57.840] How do you show up in those ads?
[00:28:57.840 --> 00:29:04.080] And how do you differentiate when somebody's comparing your ad to another ad to you know organic search results?
[00:29:04.080 --> 00:29:14.480] Um, so I think, yeah, where I would start is where is my customer hanging out, and what do I need to do to make a dent or get noticed in that place where they're hanging out?
[00:29:14.480 --> 00:29:20.480] And that can lead you to a few different types of tactics, but I wouldn't, um, I wouldn't try to do too many things first.
[00:29:20.480 --> 00:29:23.440] I would just choose, you know, one really great thing and just do that.
[00:29:23.440 --> 00:29:33.280] It's reminding me actually, I spoke to somebody recently who also works in technology for small businesses and he runs content for the company that he works at.
[00:29:33.280 --> 00:29:38.720] And they just decided, you know, B2B company, SaaS company, to just make a giant bet on YouTube.
[00:29:38.720 --> 00:29:40.000] And that's all he's doing.
[00:29:40.000 --> 00:29:46.480] He is just on YouTube building a YouTube following and using that to then play out in multiple different scenarios.
[00:29:46.480 --> 00:29:53.120] They've built a following of over 20,000 on YouTube within the first six months, six to eight months, with a pretty classic B2B SaaS company.
[00:29:53.280 --> 00:29:56.000] And it's just sort of them saying, Our business owners are here on YouTube.
[00:29:56.000 --> 00:29:57.200] We want to access them on YouTube.
[00:29:57.280 --> 00:29:58.800] We're going to fully commit to this.
[00:29:59.360 --> 00:30:10.040] I think that commitment, if you're doing it with a little bit of kind of X factor creativity, can really serve you better than spreading yourself across a lot of different tactics.
[00:30:10.040 --> 00:30:12.200] That said, now I'm just talking a lot.
[00:30:12.200 --> 00:30:13.880] Over time, you're going to want to layer.
[00:30:14.120 --> 00:30:18.120] You're going to reach, most of these tactics will reach a ceiling and you'll kind of want to layer in.
[00:30:18.120 --> 00:30:21.640] But I think if you're just starting out, where is my customer?
[00:30:21.640 --> 00:30:23.240] How do I access them there?
[00:30:23.240 --> 00:30:29.480] And that could lead you to different places, different ways to access them, but then just betting on that way to access them.
[00:30:29.800 --> 00:30:36.120] Once you start testing a specific channel or strategy, how do you know when something's like definitely working?
[00:30:36.120 --> 00:30:37.640] How much time you need to give it?
[00:30:37.640 --> 00:30:39.640] Or when you like, we're throwing in the towel.
[00:30:39.640 --> 00:30:41.640] YouTube, it's not where our people are.
[00:30:41.640 --> 00:30:43.160] We're not going to focus there.
[00:30:43.160 --> 00:30:43.800] Hmm.
[00:30:43.800 --> 00:30:44.040] Okay.
[00:30:44.040 --> 00:30:49.880] It's a bit of a tricky question because I think different channels need different kinds of timeframes to be proven out.
[00:30:50.680 --> 00:30:54.120] I think, let me think about how I can give a helpful answer here.
[00:30:54.120 --> 00:30:58.200] There is a tracking component that I think is really important.
[00:30:58.600 --> 00:31:06.040] So I'm not sure what your members use, but having some form of a marketing CRM, some kind of attribution tracking.
[00:31:06.040 --> 00:31:09.720] I remember this was a big, when I got into startup and I knew nothing about this.
[00:31:09.720 --> 00:31:15.560] Understanding attribution and lead sources was like, oh, this is super helpful to know where someone's coming from.
[00:31:15.560 --> 00:31:16.680] First touch, last touch.
[00:31:16.680 --> 00:31:17.960] When do you see counts?
[00:31:19.000 --> 00:31:20.360] Yes, you're going to want some.
[00:31:20.360 --> 00:31:23.800] And like for me, for example, like even here at Relay, it's mostly first touch.
[00:31:23.800 --> 00:31:26.680] Like you also, I don't think, don't need to overthink your attribution.
[00:31:26.680 --> 00:31:31.720] It's just what's going to give you kind of the 80-20 on where things are going so you can have confidence directionally.
[00:31:31.720 --> 00:31:35.720] So typically you're going to want some way to know where the traffic came from.
[00:31:36.040 --> 00:31:37.560] I do like a first touch.
[00:31:37.560 --> 00:31:40.040] I think first touch, last touch can be really, really helpful.
[00:31:40.040 --> 00:31:44.560] We're moving towards that here now, but that's like at a pretty mature stage of our business, quite honestly.
[00:31:44.200 --> 00:31:50.800] I like a first touch because it tells you the thing that got somebody initially interested.
[00:31:51.120 --> 00:31:53.600] And to me, that's always been the most powerful.
[00:31:53.920 --> 00:31:58.160] And the rest I've sort of been more okay with having be a little bit fuzzier for us.
[00:31:58.480 --> 00:32:01.200] But there's different business models that need different kinds of touches.
[00:32:01.200 --> 00:32:05.200] But regardless, you know, having some semblance of knowing what drove somebody to you.
[00:32:05.440 --> 00:32:08.080] And there's lots of tooling that can do this for you.
[00:32:08.880 --> 00:32:10.240] That is really key.
[00:32:10.400 --> 00:32:13.120] And then I think knowing, it's basically like, what did you spend?
[00:32:13.360 --> 00:32:17.760] Like, what was the effort you put in, whether it's time, money, whatever?
[00:32:18.000 --> 00:32:19.760] What did it drive?
[00:32:19.760 --> 00:32:21.760] And then, you know, tracking a funnel.
[00:32:21.760 --> 00:32:26.800] So it's going to be different for different types of products, but where did that lead come from?
[00:32:26.800 --> 00:32:29.840] How many of the leads from that source are converting in the ways you want?
[00:32:29.840 --> 00:32:31.600] And how many are ultimately becoming a customer?
[00:32:31.600 --> 00:32:32.880] And what's my revenue?
[00:32:33.120 --> 00:32:42.320] Ultimately, being able to kind of play that back to how am I getting paid back as a business and keeping that in kind of a healthy zone.
[00:32:42.720 --> 00:32:49.600] Typically here at Relay, we're aiming for under 12 months of payback, but it's going to be different for different businesses.
[00:32:49.600 --> 00:32:50.240] Yeah.
[00:32:50.240 --> 00:32:57.760] Are there specific business tools or marketing tools that you're either using now or have used in the past at other companies that you recommend?
[00:32:57.760 --> 00:33:00.480] Yeah, I mean, this is a classic, but like I do love a HubSpot.
[00:33:00.480 --> 00:33:03.440] I know that they started off with small business angle.
[00:33:03.440 --> 00:33:07.120] I have done two like HubSpot build outs myself.
[00:33:07.440 --> 00:33:08.000] I find it probably.
[00:33:08.080 --> 00:33:09.040] Oh, we should come to you.
[00:33:10.480 --> 00:33:16.880] I find it pretty accessible as a tool and like pretty customizable for somebody who wants to like kind of get their hands dirty in DIY.
[00:33:16.880 --> 00:33:18.880] And they have the attribution piece out of the box.
[00:33:18.880 --> 00:33:27.920] Like, you can get probably, like, if I was running a business that was doing, you know, under, like, between, you know, under 10 million, I would probably just use HubSpot first touch attribution forever.
[00:33:27.920 --> 00:33:32.440] Like, I don't know that I would need to move beyond that unless there was some really specific reason to.
[00:33:29.840 --> 00:33:35.720] But to me, they can give you a lot as you're getting a business going.
[00:33:36.040 --> 00:33:38.200] And just it's all in kind of one tool.
[00:33:38.200 --> 00:33:39.560] It's really useful.
[00:33:39.960 --> 00:33:41.800] I'm trying to think of what else we find useful.
[00:33:41.800 --> 00:33:48.680] We are today migrating a lot of our website and kind of landing pages to Webflow, which has been a really great solution for us.
[00:33:48.680 --> 00:33:53.240] A lot more out of the box, a lot more kind of, we can DIY a lot more with that.
[00:33:53.480 --> 00:33:55.320] So that's been awesome for us as a team too.
[00:33:55.320 --> 00:33:56.520] I mean, these are classics, right?
[00:33:56.520 --> 00:34:02.120] Like, again, I don't know that you necessarily need like the most groundbreaking tech stack to do a lot with.
[00:34:02.120 --> 00:34:04.680] It's really how you're using it and like how deep you're going with it.
[00:34:04.680 --> 00:34:17.960] I will say also that was, I think, a big unlock for me in my career as I'm thinking back was learning to use the tools and like going deep and getting really OCD and obsessive about them, like really deep and really into it.
[00:34:18.680 --> 00:34:28.600] I just started to understand a lot more how to build the funnel, how to build for scalability by being so hands dirty and obsessive about how everything was flowing through those systems.
[00:34:28.600 --> 00:34:28.920] Yeah.
[00:34:29.240 --> 00:34:31.160] I'm so glad that you shared that.
[00:34:31.160 --> 00:34:35.960] So both of those tools, HubSpot and Webflow, we are now using at Entrepreneurista.
[00:34:35.960 --> 00:34:41.160] So we actually just moved over in January our whole website over to Webflow and it's amazing.
[00:34:41.480 --> 00:34:44.840] But our team is now first starting to learn how to use it.
[00:34:44.840 --> 00:34:46.760] And back to what you said, and same with HubSpot, right?
[00:34:46.760 --> 00:34:55.080] HubSpot, again, when you onboard a tool, you need to learn how to use that tool or it's not going to be as valuable for you.
[00:34:55.080 --> 00:34:57.800] And you have to spend the time to do that.
[00:34:57.800 --> 00:35:01.240] And that's something that we've, you know, we've had a hard learning lesson with that, right?
[00:35:01.240 --> 00:35:05.160] Because, you know, the web development team we worked with handed the new website over to us.
[00:35:05.160 --> 00:35:12.680] We had some hours of training, and now we're like, we actually need a lot of deeper training to be able to use this in the most efficient way possible.
[00:35:12.680 --> 00:35:14.360] So, it's just a reminder for everyone.
[00:35:14.360 --> 00:35:15.760] It's like these tools are amazing.
[00:35:15.920 --> 00:35:24.160] There are so many powerful tools that are out there, but it would be the same as like if you set up your account on Relay and you never logged into your account, like that's not going to help you.
[00:35:24.160 --> 00:35:27.280] You have to log in, and actually, you've got to use the tools.
[00:35:27.280 --> 00:35:28.800] Yeah, yeah, it's an interesting actually.
[00:35:28.800 --> 00:35:36.560] I've never kind of thought about this before, but I think time I've spent building out these tools, and also time I've spent building out models.
[00:35:36.560 --> 00:35:48.960] So, you know, building a forecast, building a model for how we'll grow here at Relay, for example, that can really take hours, days, and you're just kind of sitting there building these things.
[00:35:48.960 --> 00:35:51.120] I actually think that's incredibly valuable time.
[00:35:51.120 --> 00:36:00.640] You're kind of like both doing the thing to get you more practically where you want to be, but it's also like thinking creative time that new ideas come to you.
[00:36:00.640 --> 00:36:06.000] At least for me, that's been almost like meditative time of like going deep, obsessively on these tools and models.
[00:36:06.000 --> 00:36:09.280] And it just brings me into the space of the business.
[00:36:09.440 --> 00:36:14.480] And I come out of it always both with like a practical thing I'm trying to do and more ideas for how we could grow.
[00:36:14.480 --> 00:36:14.880] Yeah.
[00:36:14.880 --> 00:36:22.960] And something I want to remind everyone of is that if managing these tools and learning this tech is not your area of expertise, like it's okay.
[00:36:22.960 --> 00:36:30.080] There's actually people who have service-based businesses to help you learn how to use these tools, onboard these tools, and really integrate them in your business.
[00:36:30.080 --> 00:36:34.000] I was actually a guest on one of our members' podcasts today, and she was just talking about that.
[00:36:34.000 --> 00:36:41.920] She hired an OBM, an online business manager, to actually help her set up all these tools because there's a lot of people that aren't native to all this technology.
[00:36:42.160 --> 00:36:50.720] You know, I feel like for us, we're, you know, a younger, I'm 40, I'm like the younger generation of we kind of grew up with social media and grew up just learning how to implement these tools.
[00:36:50.720 --> 00:36:57.760] But it's like, if you're 40 plus, a lot of these tools, it's just, it's not organic and natural to how you've, you know, used tools in the past.
[00:36:57.760 --> 00:37:01.880] And there's people that can help you and do it for you and you can learn from them.
[00:36:59.120 --> 00:37:05.720] I actually think there's a good kind of parallel with the whole question of banking, money management.
[00:37:06.360 --> 00:37:07.640] There's people who can help you.
[00:37:07.640 --> 00:37:12.360] That relationship with your bookkeeper or an accountant can be so invaluable to you as a business owner.
[00:37:12.360 --> 00:37:17.160] But there's also intrinsic value on spending the time and being hands-on yourself.
[00:37:17.800 --> 00:37:22.440] And I think it sometimes can lead to like really intelligent conversations with those people who are helping you.
[00:37:22.440 --> 00:37:24.920] So to me, it's sort of doing both in parallel.
[00:37:24.920 --> 00:37:26.120] No, absolutely.
[00:37:26.120 --> 00:37:35.720] Coming up, Eleni shares all the exciting updates at Relay and how you can get the most value out of Relay services and why trust and community are so important.
[00:37:39.160 --> 00:37:45.560] Founders are always asking us, what has been the secret to our success building multiple seven-figure businesses?
[00:37:45.560 --> 00:37:47.000] Do you want to know how?
[00:37:47.000 --> 00:37:48.680] It's our community.
[00:37:48.680 --> 00:37:56.280] We created the Entrepreneur League for founders like you because the most successful entrepreneurs do not navigate business alone.
[00:37:56.280 --> 00:38:02.120] We navigate the challenges and opportunities with the support of people we know, love, and trust.
[00:38:02.120 --> 00:38:05.960] The relationships you build in business will be the key to your success.
[00:38:05.960 --> 00:38:08.120] Trust me, it's how we've done it.
[00:38:08.120 --> 00:38:13.800] And I'm giving you access to everything we've used to grow and scale our businesses over the past decade.
[00:38:13.800 --> 00:38:18.120] Plus, you're going to meet your new best friends in business right inside the community.
[00:38:18.120 --> 00:38:40.520] Our members have access to everything we've used to grow our businesses over the past 10 plus years, from in-person events to virtual events, business education, funding resources, office hours with myself and other top founders in your industry, press opportunities, and access to our community platform where you can instantly get all of your business questions answered.
[00:38:40.520 --> 00:38:47.280] You can join us in the community over at refer.entrepreneista.com forward slash join us.
[00:38:44.920 --> 00:38:56.400] That's refer.entrepranista.com forward slash join us to join the community or head to the show notes right now and tap the link to join.
[00:38:56.400 --> 00:38:58.560] I cannot wait to meet you.
[00:38:59.520 --> 00:39:03.680] So what are you most looking forward to for all of the new updates with Relay?
[00:39:04.320 --> 00:39:06.000] Interesting question.
[00:39:06.240 --> 00:39:13.360] I just came out of a meeting where we were looking at custom debit and credit cards and that was really exciting just from like a flare perspective.
[00:39:13.360 --> 00:39:13.760] What does that mean?
[00:39:13.840 --> 00:39:14.720] What does that mean, a customer?
[00:39:15.360 --> 00:39:29.680] It means customizing the way they look, having them look a little bit more like how you might want them to look or having them visually cue, you know, whether they're for travel or for your kind of office expenses or whatever it might be, giving you a little bit more kind of personalization to the card.
[00:39:29.680 --> 00:39:32.080] That's a smaller change, but it just looked really cool.
[00:39:32.080 --> 00:39:36.080] And I think seeing the product get like slicker is very exciting for me.
[00:39:36.400 --> 00:39:43.360] I think for me, a big one coming up, we have a big, meaningful launch of spend management coming up.
[00:39:43.680 --> 00:39:46.480] It may be live by the time this podcast is out.
[00:39:46.800 --> 00:40:00.000] But that is really a big move for us at Relay into standalone product that is, or embedded product, but a standalone workflow that's truly added on to banking and leveling up the value you can get out of Relay.
[00:40:00.000 --> 00:40:01.680] So this is, you know, you're paying bills.
[00:40:01.680 --> 00:40:06.960] Maybe it's a little bit onerous to make those payments or the approvals are a bit painful.
[00:40:06.960 --> 00:40:17.040] It's giving you that chance to sort of really embed that directly into your banking, have it sync with your accounting really clearly and be able to, yeah, have it all in one place again.
[00:40:17.040 --> 00:40:18.400] And that's like a really big step for us.
[00:40:18.400 --> 00:40:20.320] So, that's a pretty exciting launch coming up.
[00:40:20.320 --> 00:40:21.200] That's so exciting.
[00:40:21.200 --> 00:40:24.240] How do you get the word out to your customers when you have these new launches?
[00:40:24.240 --> 00:40:26.400] What's the strategy to reach everyone to let them know?
[00:40:26.400 --> 00:40:28.880] Yeah, I mean, this is where we kind of go multi-prong with it.
[00:40:28.880 --> 00:40:32.200] So, you know, you're marketing to your existing base with a new product launch.
[00:40:32.280 --> 00:40:39.720] That's always priority number one: getting out there and getting your existing customers to know about the new thing you've launched.
[00:40:40.040 --> 00:40:44.280] And then you're building that kind of multi-pronged strategy that we've just been talking about.
[00:40:44.280 --> 00:40:45.720] Where will people care about this?
[00:40:45.720 --> 00:40:51.880] Like the folks who are concerned about the bill pay in their business, they are probably Googling, I hate my bill.
[00:40:51.960 --> 00:40:53.240] Like, how do we show up?
[00:40:53.240 --> 00:40:56.520] How do we show up for the people who are actively seeking this solution?
[00:40:56.520 --> 00:41:02.680] And then, how do we show up for people who may not know they need the or may not be actively seeking the solution but have the problem?
[00:41:02.680 --> 00:41:05.880] And maybe that's another layer here to consider just for your audience in general.
[00:41:05.880 --> 00:41:18.840] There's the layer of people who are looking actively for the thing you do, and then the people who may be what I call like in the problem space, they maybe have a tangential problem, like they're annoyed that they're they're annoyed with their bill pay, but they're not seeking the solution yet.
[00:41:18.840 --> 00:41:21.720] Um, and getting educating and getting in front of them in that way.
[00:41:21.720 --> 00:41:29.720] So, that might be things like you know, we run a lot of webinars here, um, it might be content pieces, it might be partnerships with you guys and stuff like that to help get the word out.
[00:41:29.720 --> 00:41:34.920] So, it's really using those channels where we know our audiences and telling this story in those channels.
[00:41:34.920 --> 00:41:49.320] You just got me thinking about going back to the AI conversation about AI search, which I think is going to become like even bigger now and actually learning how to show up in search in these AI tools because that's where people are going now.
[00:41:49.320 --> 00:41:52.600] Yes, and I will be honest with you, like, this is a new area for me too.
[00:41:52.600 --> 00:41:56.280] Like, I don't have a strong perspective here yet.
[00:41:56.440 --> 00:41:58.680] I honestly don't think, I don't think anybody does yet.
[00:41:58.680 --> 00:42:00.840] I think this is like a very fast-moving target.
[00:42:01.000 --> 00:42:06.200] In the older kind of days, you had a search strategy, and that was really obvious.
[00:42:06.200 --> 00:42:08.280] And you kind of knew that I knew that playbook really well.
[00:42:08.280 --> 00:42:11.240] At my last business, we built, you know, a huge SEO engine.
[00:42:11.640 --> 00:42:14.600] It's really changing very quickly on that front.
[00:42:14.600 --> 00:42:18.480] And I think I don't think anyone's fully cracked it yet.
[00:42:18.480 --> 00:42:19.200] We have not yet.
[00:42:14.840 --> 00:42:20.960] But agreed, it's like very important.
[00:42:21.680 --> 00:42:27.440] Something that we're very actively exploring right now is making sure that we can maintain our presence in that kind of AI results.
[00:42:27.440 --> 00:42:28.320] Yeah, absolutely.
[00:42:28.320 --> 00:42:31.360] We have some members that are experts in AI.
[00:42:31.600 --> 00:42:40.960] So they're part of our entrepreneurship group platform and they're coming and speaking to the members in our community about what you need to know to be able to, you know, rank in AI searches.
[00:42:41.120 --> 00:42:42.080] I don't even know this yet.
[00:42:42.080 --> 00:42:44.880] Like we're trying to, we're all trying to learn together.
[00:42:44.880 --> 00:42:50.800] And I think that's the beautiful thing about this place we're in right now with marketing and AI technology.
[00:42:50.800 --> 00:42:57.760] It reminds me back, you know, when my business partner, Courtney, and I, when we started our first business, Social Fly, like we were so early in the social media space.
[00:42:57.760 --> 00:43:03.360] Like we started our social media agency back in 2011 on the side of our full-time jobs.
[00:43:03.360 --> 00:43:07.840] Like brands were not really using social media yet and we're like, this is going to be the way of the future.
[00:43:07.840 --> 00:43:11.600] And we were literally like, we were basically selling social media services door to door back then.
[00:43:11.680 --> 00:43:12.800] People were like, this isn't bad.
[00:43:12.800 --> 00:43:16.560] And I'm like, nope, this is going to be here to say you all need to embrace this right now.
[00:43:16.560 --> 00:43:21.120] But it just reminds me of that time where it's like, now's the time to learn and find.
[00:43:21.120 --> 00:43:23.360] There are X, there definitely are experts out there.
[00:43:23.360 --> 00:43:27.440] And it's about how can we bring them together so we can all knowledge, share, and learn together.
[00:43:27.440 --> 00:43:29.840] And it's why we have podcasts like this to have these conversations.
[00:43:29.840 --> 00:43:30.240] Yeah.
[00:43:30.240 --> 00:43:30.960] It's so true.
[00:43:30.960 --> 00:43:37.440] I actually feel like in that era, you know, 2010, kind of early 2010, was the wave of inbound marketing.
[00:43:37.440 --> 00:43:46.160] And we all kind of developed, especially if you're in B2B, you kind of developed that B2B playbook that was largely SEO-driven, content, educational, content-driven, trade shows.
[00:43:46.160 --> 00:43:49.600] It became a really great and classic playbook.
[00:43:50.000 --> 00:43:54.440] I think there's a really big sea change coming, and we're all kind of in the midst of that right now.
[00:43:54.240 --> 00:43:54.600] Yeah.
[00:43:54.480 --> 00:43:54.800] Yeah.
[00:43:55.520 --> 00:43:57.680] So it's why I love doing recordings like this.
[00:43:57.840 --> 00:44:02.920] We can all be sharing all of our updates and sharing together and collaborating and helping each other.
[00:44:03.160 --> 00:44:07.160] So I have to ask you: what is your biggest business secret?
[00:44:07.160 --> 00:44:10.600] Ooh, let me think about that for a second.
[00:44:10.600 --> 00:44:12.120] Biggest business secret.
[00:44:12.440 --> 00:44:13.960] Let me give it a try.
[00:44:14.120 --> 00:44:18.280] A tip or something you've never shared with anyone before live on a podcast.
[00:44:20.840 --> 00:44:23.320] I'm just giving it a moment of thought.
[00:44:25.880 --> 00:44:36.680] I think something, I don't know that this is a secret, but I think something, another kind of light bulb moment I had in my career, and I'm trying to think of the best kind of way to articulate this.
[00:44:36.680 --> 00:44:55.080] But, you know, this is not like the most groundbreaking advice, but it was kind of like ask the dumb question and press in the thing on the thing that you think you might not really know the answer to, or that it might be a stupid question, or is maybe like out of your lane.
[00:44:55.400 --> 00:44:56.760] Sometimes it is.
[00:44:56.760 --> 00:45:00.760] Sometimes it's actually like nobody else is thinking about the thing that you're asking about.
[00:45:01.000 --> 00:45:13.960] I think for me, especially as I moved into leadership, it was getting that confidence to really press on things and not feel, maybe what I'm trying to articulate here is more about get out of your lane.
[00:45:14.600 --> 00:45:17.320] I think that's maybe more what I'm trying to sort of share.
[00:45:17.720 --> 00:45:37.800] I think for me, that's been a really big unlock in my career is, you know, not just sticking to what I'm doing in marketing, obviously developing that craft, but getting really curious about everything that's going on around me and asking questions about it and getting involved in that stuff and not being a little bit less shy around it has led to like better ideas, better collaboration.
[00:45:37.800 --> 00:45:45.760] I don't know that that's really a business secret, but I feel like it's a really great secret, a great tip because, you know, I actually did a whole post about this on LinkedIn recently.
[00:45:44.760 --> 00:45:51.280] I talk about this all the time: like, there is no such thing as a silly question or a dumb question.
[00:45:51.280 --> 00:45:53.440] Like, all questions are so important.
[00:45:53.440 --> 00:45:56.640] And if you're thinking it, someone else is probably thinking it too.
[00:45:56.640 --> 00:45:58.160] And some people know the answers.
[00:45:58.160 --> 00:46:00.160] And then we can all share and learn together.
[00:46:00.160 --> 00:46:03.680] And if we don't ask the questions, we can't learn, we can't grow together.
[00:46:03.680 --> 00:46:05.040] It's like, ask the questions.
[00:46:05.440 --> 00:46:07.040] People want to know, we all need to learn.
[00:46:07.040 --> 00:46:10.560] And that's how we can all build better, more profitable businesses.
[00:46:10.560 --> 00:46:24.640] I think this light bulb moment, if I just share the specifics, was at my previous company, we were going to be rebuilding part of our product in a way that kind of like the front end development of the product was not going to allow us to add scripts.
[00:46:24.640 --> 00:46:36.240] So like the line of code that you use for, we've been talking about HubSpot, the sort of script you'd embed in your website to allow you to track things and have it, you know, have all this tracking going on was not going to be possible with this new framework we were using.
[00:46:36.240 --> 00:46:38.160] And I thought to myself, I'm not an engineer.
[00:46:38.160 --> 00:46:39.280] They must have thought about this.
[00:46:39.280 --> 00:46:41.120] Like this must be on their radar.
[00:46:41.120 --> 00:46:42.880] You know, this is a big engineering team.
[00:46:42.880 --> 00:46:50.320] But at one point, I just asked the question, hey, are we sure we're going to be able to like embed these 10 different tools that we're using with the whole new front end of our application?
[00:46:50.320 --> 00:46:55.440] Nobody had thought about it because they have their own kind of priorities and they're like, you know, they're thinking about what they're trying to do.
[00:46:55.440 --> 00:47:05.760] But, you know, I really, it was a moment of really kind of sticking my nose in, but also realizing, oh, like, I have my own perspective that I can bring here and my own expertise that is worth sharing.
[00:47:05.760 --> 00:47:06.960] Yeah, no, absolutely.
[00:47:06.960 --> 00:47:09.200] It is always worth sharing.
[00:47:09.200 --> 00:47:10.880] Eleni, last question for you.
[00:47:10.880 --> 00:47:13.520] What does being part of Entrepreneurista mean to you?
[00:47:13.520 --> 00:47:21.960] Ooh, I mean, I think being part of a community like this that is, you know, just thriving, like being part of any community.
[00:47:21.960 --> 00:47:29.440] For us at Relate, we really believe in authentic connections to communities of small business owners.
[00:47:29.440 --> 00:47:32.120] I think what you guys are building here is just so cool.
[00:47:29.760 --> 00:47:52.360] I think, you know, really helping business owners like get to that next level, not just at the beginning of their process and kind of, I think there's another level of depth that I see with you guys that's beyond, you know, how to get started, how to get rich quick, whatever it might be, and more towards how to build something really sustainable for yourself and how to build something that's going to take you for the long haul in your business.
[00:47:52.600 --> 00:47:54.440] The knowledge sharing is just so great.
[00:47:54.440 --> 00:47:58.600] And I think, you know, being part of a community of women also just means a lot to me.
[00:47:59.560 --> 00:48:09.400] Yeah, it's just a really awesome kind of way to knowledge share and genuinely, again, back to that kind of like practical impact, like help folks get to that practical next step they want to get to.
[00:48:09.400 --> 00:48:16.040] To me, it's always like the combo of inspirational and tactical, practical that inspires me with the businesses that I'm at too.
[00:48:16.040 --> 00:48:16.840] Oh, absolutely.
[00:48:16.840 --> 00:48:30.520] And our members know and our whole community knows that we only partner with partners like you, like Relay, that we know, that we love, that we trust, that we know truly care about the mission and the values of Entrepreneur and who our members are.
[00:48:30.520 --> 00:48:39.720] You know, we have potential partners that reach out to us all the time that want to partner with us because of our incredible community, but we don't partner with anyone and everyone.
[00:48:39.720 --> 00:48:45.720] We only partner with the tools and solutions that are so aligned with our values and the values of the community.
[00:48:45.720 --> 00:48:54.120] And we're so grateful for you, your team, and what Relay has built to help the community and how passionate you truly are about helping.
[00:48:54.120 --> 00:48:55.240] So thank you.
[00:48:55.240 --> 00:48:55.720] Yeah.
[00:48:55.720 --> 00:49:00.840] Well, I also want to say like having the trust of a community like ours is not something that we take lightly.
[00:49:00.840 --> 00:49:05.880] There's a lot of, you know, there's a lot of differing qualities of advice out there.
[00:49:05.880 --> 00:49:08.920] And I think we really want to build these kind of meaningful partnerships.
[00:49:08.920 --> 00:49:14.200] We're at the end of the day, helping business owners be more successful in what they're trying to build, whatever that may be.
[00:49:14.440 --> 00:49:24.240] And those connections that feel truly aligned to that mission really means a lot to us and are places where we want to invest the time, the time and the effort.
[00:49:24.240 --> 00:49:24.800] Yeah.
[00:49:25.120 --> 00:49:36.800] Well, I want to share with everyone right now that if you are looking for a solution like Relay, Eleni and the team have a special, incredible offer for our entrepreneur.
[00:49:36.800 --> 00:49:46.320] So this will all be in the show notes, but you can head to entrepreneista.com forward slash partners forward slash relay to learn more about relay.
[00:49:46.320 --> 00:49:51.840] And then actually, when you fund your account on relay, you will get $100 when you fund your account.
[00:49:51.840 --> 00:49:55.440] So thank you for all of those extra goodies for our Entrepreneursa community.
[00:49:55.440 --> 00:49:56.720] We so appreciate it.
[00:49:56.960 --> 00:49:57.920] No problem.
[00:49:57.920 --> 00:50:05.920] And where else can all of our members find you and follow you personally, follow Relay, share all of the links and handles?
[00:50:05.920 --> 00:50:06.720] Yeah, okay, great.
[00:50:06.720 --> 00:50:09.360] So you can find Relay at relayfi.com.
[00:50:09.360 --> 00:50:10.080] That's our website.
[00:50:10.080 --> 00:50:12.880] It'll take you kind of to everywhere you want to be relay related.
[00:50:12.880 --> 00:50:17.200] You can find me probably LinkedIn is the best place to find me, Eleni Deacon on LinkedIn.
[00:50:17.440 --> 00:50:20.320] And also, I mean, we were talking about this before we started recording.
[00:50:20.320 --> 00:50:22.800] I know this is primarily an audience of entrepreneurs.
[00:50:22.800 --> 00:50:24.320] Relay is growing a ton.
[00:50:24.320 --> 00:50:31.760] So if you guys know anyone who's interested in getting involved in a fast-growing technology company, we are always hiring.
[00:50:31.760 --> 00:50:37.200] So you can visit relayfi.com slash careers to see the roles we have open right now.
[00:50:37.200 --> 00:50:37.680] Amazing.
[00:50:37.680 --> 00:50:37.920] Yeah.
[00:50:37.920 --> 00:50:44.960] So everyone, if you have friends that are looking for incredible roles at Relay, tell them to go check it out.
[00:50:44.960 --> 00:50:50.360] And again, for all of your financial solutions that you need and all the new things to come that you have.
[00:50:50.360 --> 00:50:55.360] Go ahead over to the show notes right now and you can tap through everything that we just mentioned.
[00:50:55.360 --> 00:51:01.320] Eleni, thank you so much for being here, sharing your incredible story, all of your incredible business and marketing tips.
[00:51:01.320 --> 00:51:03.000] We so appreciate it.
[00:50:59.680 --> 00:51:06.840] I'm Stephanie and this is the best business meeting I've ever had.
[00:51:09.320 --> 00:51:18.760] Hi entrepreneurs, it's Steph here and I hope today's episode has left you feeling inspired and with some actionable tips that you can apply to your own business.
[00:51:18.760 --> 00:51:26.120] The way we've grown our community and resources is by sharing content like this for years and asking for help along the way.
[00:51:26.120 --> 00:51:31.640] So here's where we need your help so we can continue to make as much impact as possible together.
[00:51:31.640 --> 00:51:41.400] If you can leave us a five-star review and extra credit if you share this episode on Instagram, LinkedIn, or DM it to a founder friend who would benefit from hearing it.
[00:51:41.400 --> 00:51:48.760] Not only would it mean the world to us, but you sharing this episode is going to help someone who just may need to hear what we share today.
[00:51:48.760 --> 00:51:51.720] And you know I love nothing more than giveaways and prizes.
[00:51:51.720 --> 00:51:58.440] So every month I'll be giving away a one-on-one session with me to someone who has shared the episode and left a review.
[00:51:58.440 --> 00:52:06.200] So send me a personal DM over on Instagram at Steph Jill Carton once you've done it so you can be entered to win.
[00:52:06.200 --> 00:52:11.960] Wishing you a productive week ahead and stay tuned for another impactful episode next week.