Adam Steinhardt on a Website Mindset Shift of Asset vs Expense

In this episode, we talk with Adam Steinhardt from the Kingdom about understanding the value of your website and a mindset shift that is needed.


Adam talks about how most companies have thought about their websites in the past as well as what they should be thinking now and in the future. He talks about how your website should be on your companies balance sheet.

Adam then dives into Campaign Warrior, some website myths, as well as hurdles you may face along the way.

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Audio

About the Expert

Adam Steinhardt

Inspired by the great global brands, and having gained strong global marketing skills by working closely with Apple, it was easy for Adam to move into the website development, sales, digital marketing, and advertising agency world.

In 2009, Adam founded The Kingdom. He set out to build and create an exotic 5-star advertising agency that created fast turnarounds, engaging content, gorgeous graphic design and provided expert digital marketing, advertising and social media solutions.

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Full Transcript

George Thomas 0:08
Ready to spend 15 minutes with the experts you admire need strategy sessions from thought leaders brought directly to your ears. Welcome to the sprocket talk 15 minute strategy podcast where every week George B Thomas uncovers the challenges that sales, marketing and service professionals face and of course, the strategies to help them overcome their biggest hurdles. So sit back and set your sights on growth with these bite sized conversations build your strategy goals. Ladies and gentlemen, welcome to the 15 minute strategy pod. Alright sprockets tears. It's your boy George B. Thomas hashtag GSD ready to rock and roll with at least 15 minutes. Okay, let's be on maybe 20 of strategy for you to use in your sales marketing service business everywhere. I can't wait. I'm super excited as always to dive into this conversation. It's a conversation that we have not had on previous episodes yet but very important to the success Your business as far as a digital space. That's all I'm gonna say before I introduce Adam or let Adam introduce himself. Adam, let the sprockets here's the viewers, the listeners know who you are, what you do and where you do it. Hey, George. Thanks, Mike. Thanks so much for having me on the show. Super excited to have a chat today. I My name is Adam Steinhardt. I am the CEO of the kingdom and we're a platinum HubSpot partner down in Adelaide, South Australia. But we do spend most of our life working on tough enterprise portals and making sure that our customers are really taking their HubSpot deployment super seriously. Getting the sales team fired up making sure marketing connected or getting it working into its best abilities. Fun stuff all day long. Now today we're gonna dive into a micro conversation or part of what you do and what many companies need to do and sometimes I don't think pay attention to and so the deep end of the pool today sprocket tears is going To be understanding the value of your website and actually being able to manage the website and the value of it. So, Adam, what do you think of this conversation around understanding the value of your website versus it just being something that's nice to have? Or that we have to have? and managing it? What's the foundational pieces that the viewers and listeners need to understand? So we can continue on this conversation?

Adam Steinhardt 2:24
You might look, it's really interesting. If we go back through time, you know, in the 80s 90s, and the websites started coming out in the late 90s. It was a kind of a bolt on, you know, businesses already had their marketing in place in their advertising, and it was working great for them or not, but they sort of ended up getting a website because they kind of had to have it. They didn't really necessarily need to know why or didn't understand why but at the time, they just got it because it kind of got trendy. And you know, realistically, in a lot of businesses, that mentality hasn't really changed. But funnily enough, when you speak to them, you say, well, what's the most important part of your marketing weapon every now They'll say on my website. But the attitude of the way people are treating their website taking SMB LAN medium businesses is lacking. The first thing we're really big on. And you know HubSpot and sales demonstrate this mean, the HubSpot website has over 23,000 pages and drives that inbound lead generation process mean that's got to be valued at a billion dollars on their website on their on their balance sheet. And so the first thing we like to think is that you got to treat your website, like it's an asset on your balance sheet. A lot of businesses I treated as an expense without, you know, drop the 20 grand on them website and then three years later do it again, they treat it as a burden, as opposed to a lead generating machine. And so the first thing we want to suggest is shift your thinking to be thinking of your website as an asset that's got future realizable value. And of course, if you're going to go ahead and sell your business, the website goes with it and it is valued as an asset. So get that thing on your balance sheet. And yet, I bet you Nike and apple and all these companies got their website on the balance sheet. And so you've got to have it there. It costs a lot of money to replace. And once you do that, that changes the way you think about it. It means you start saying, right, well, this is an asset, we do have to invest in this, and it does require ongoing investment. And it does require ongoing measurement of success. And once you do that, then you can start saying, right, we're not just gonna plunk it out there, put it out there for the world to see, we're going to actually start treating this thing like an is an engine like it is a machine that can produce results. And of course it does. That's the thing. The great irony, George is that, you know, people want SEO, they want to be on the front of Google desperately. But they've got to put in the hard yards to do that. And they've got to make their website a super duper lead generating machine. Does that kind

George Thomas 4:48
of make sense? Oh, it definitely makes sense. I I want to kind of travel back a little bit because when you mentioned this mind shift of instead of it being an expense, envision it as an asset and I agree. I think humans get stuck in sure we should do that. Why should we do that? Well, because the web has changed, your website has changed, the consumer has changed. But how is where we get stuck? Like how do you take what has for years been inanimate pages of copy and messaging, and photos and video and start to actually put $1 amount or even if it's not $1 amount of value amount on those things? How did they do that to help the mind shift happen?

Adam Steinhardt 5:35
Yeah, that's, that's probably part of the problem, of course, is that the evaluation process hasn't been widely spoken about and hasn't been widely addressed. But you know, we've done a lot of research in the space. And if you think about, well, what does it cost? Whenever you value an asset, you look, especially from an insurance perspective, you say, what does it cost to replace it? So you can just do a simple maths equation say, right, we've got 100 pages, you know, it's kind of Take a four to five hours to replace that. And you've got 500 hours, and it's going to cost you 200 bucks now, straightaway, you're 20 grand. So then you can look at right? How many leads? How many? How many hits per month are we getting? And this is tangible stuff that can be costed. Because you do have things like a cost of Google here. So you can suddenly start saying, right, well, each piece of traffic, if you have to buy that, from scratch would cost us $4 20, a hit from Google. So these little these little factors are out there. You know, Facebook, if you've got 100, for example, you should also be valuing a digital ecosystem. If you've got 50,000 Facebook likes a new page, that's a very, very valuable asset digitally. To get those 50,000 you'd have to spend a lot of money to get lights to that level on Facebook. So I think you know, we need deep dive into it. There's a bunch of parameters that we live by every day that exists out there that you can use to attach value to these different bits.

George Thomas 6:55
Love that and as marketeers viewers listeners. I hope you heard that. It's very Data, Data, Data and measuring that data. So if you're sitting here and you're like, well, how would we value our site, and you're not measuring the things that are happening on and around your site, you probably won't be able to. So you've got to start there first is being able to collect that data understand what's happening. Adam, are there other foundational pieces or directions or mindsets or tips, tricks and hacks that we need to pay attention to? When it comes to kind of managing this and valuing our website moving forward in what will be soon 2020 and beyond?

Adam Steinhardt 7:32
Yeah, well, it's interesting because when you look at the board level, and the C suite, they aren't ROI all the time when deploying marketing. And if you go ahead and add in the bits, so for example, the data thing is really, really important. And of course, HubSpot is sensational, producing dashboards and a lot of this information. But if you go ahead and go through the exercise of valuing that site, then suddenly you've got a very true metric of the performance of the marketing department. And then legitimate value is adding because suddenly you can start saying, right? Well, if we go invest $200,000 into marketing, we're going to end up with an acid increase in our website, which might increase across the board 500 grand but and but on top of that, of course, you get sales. So they need to be valued in there as well how well you actually sell from it is key. You know, the fact that HubSpot can have their meetings, links automatically clicked and their sales reps just wake up every day to new appointments is extraordinary. And that's a very, very powerful model. So once once that mind shift starts, then you can start saying, right, we're going to build our KPIs and build our dashboards and do our numbers around this concept. And suddenly marketing gets a new lease of life because the true value the true impact is measurable.

George Thomas 8:44
So it's funny you mentioned impact which is going completely where my brain was going. Anytime that you think about investing, you know and assets you want to get what's what's the most bang for my buck, where can I get the most reward from a money. Are there things that you've seen that companies should leverage first that really helped to improve kind of the maintenance or the messaging or, or the the perceived or increased value of their digital space?

Adam Steinhardt 9:19
Yeah, Josh. So we appreciate that segue, we build a program called campaign warrior, because we wanted to get a top down view on websites. So the first thing our software does is it scrapes the site. And it brings in a list of all of your website pages, and also gives you a tracking code. So anytime a page is visited, adds that to the site because we found it was really hard for businesses to just get a list of all their pages. You know, a lot of the pages are spread across different subdomains. Often you know, even in HubSpot, it's hard to get across the exact list of pages. And so once we had that list, we also said okay, let's check let's get an order to have a meta descriptions and our alt tags. Now when we've done our testing, it's been three years It's been, there has not been a single website, that's been perfect. In fact, the vast majority of websites have let themselves down with the meta description, which is a really important thing that Google uses, and the alt tags, and just simple things like literally mess, many, many pages that are not set up properly. So the very simplest thing that people should be considering is just getting what they've got in really good shape. Instead of paying that SEO consultant, and rushing out and spending thousands on Google AdWords, and get you get your data in shape, get the pages correct, and get them set up properly. And from there, you can start growing, and that you've seen similar.

George Thomas 10:42
Yeah, I love that. We're leaning into kind of some of that on page and even technical SEO. If you haven't listened to historical episodes, where we talked to Franco Valentino about some of those items, you should definitely go and check them out. Hit that play button and learn more about that. I'm glad that you leaned into this tool. Let's talk a little bit About the tool and kind of what you can do and how it helps this whole strategy kind of move along and make it easier for the viewers, listeners to sprocket tears.

Adam Steinhardt 11:12
Yeah, Thanks, Mike. So, about three years ago, we started using a prototype of campaign warrior, because we found that when we were creating our social media posts, and we our goal was to drive traffic to our website with social it wasn't to talk about the weather. That's that's not the purpose of social media for business, it was very much about putting out our feature rich, benefit rich content in a way that was helping the customer and with the link back to the page that created that original content. So I wrote a database and then we said, you know, we should sell this so we said, okay, let's do that. So grab some VC money and made it happen. And it's been a three year journey. And literally two days ago, I turned the billing engine on for it. So it's campaign warrior calm, but along the way, we discovered that this the building of the web paid as he wanted us to be quick, we wanted to be super fast, we want to be able to get your hands on content straightaway. So stretchy website and you've got all your pages, they got your content available. And then from there, post the socials on shedule. For you, it's kind of like an industrial level social media tool that HubSpot sort of has, but as this takes it to the next level. Ironically, in the process, though, it became so much more powerful as a web management tool. We're able, for example, to filter on our pages. So you can search for the various different clusters of pages. So I know that the HubSpot cluster tool is super powerful. But when you've got a website of say, 500 1000 pages, finding those pages is super hard. So our software allows you to filter on meta description, page title, a bunch of different parameters, and then you can tag them and group them. And when you've got them grouped, you're able to check the status of them. But also we actually allow you to dump them straight into your website. Build so that you have all those links quickly. You in the same category at the bottom of your pages in your email account, so you've actually got classes working really, really well. And quickly, which is what, what the tool does. So we're super psyched about it. We use it all the time ourselves as an agency, it's built for agencies predominantly, you're able to have multiple clients in it. But it's all designed to really flush out the web, and make sure that you gain the best out of what is a heavy investment? Yeah, there

George Thomas 13:23
are a ton of things to pay attention to that you have to use to value this. And I do want to kind of go back into the evaluation portion of this the the understanding, are there any myths that you think if somebody's going to lean into this social tool, this search tool, this idea of you know, it's it's more than just an expensive, it's an asset? Are there any myths that we need to bust so that we can free people's minds to move forward?

Adam Steinhardt 13:52
Yeah, I think that, you know, you guys, especially when you're with Marcus, he talked all the time about having the seat And then the senior management go to the conferences like inbound and buying into the process. There is definitely not enough sales training in the world. And the sales trading side of things drives this because sales is where the revenue comes from. And I'm continually astonished that a business might send their sales team on a training course once a year. So, you know, my attitude to sales training is like that of an Olympic athlete, you train four days a week, every morning, you should be sales training. And part of that is making sure that they understand every part of their website and contributing the content that they're seeing and the at the business coalface every day and that becomes content. And then the website grows because it's answering the customers questions. That information comes from sales and the lack of attention to sales forces around the world is extraordinary. Like I find it just mind blowing. It has such an impact on the on the top line and yet businesses and not investing news Not in this training space. Because once they do, then they'll realize that you know what the most important tool a salesperson has is their website, because it aids every single part of the process, every single part. And that's when those two those two go together, you know, your sales team leading it, and your training your sales team in the deals will come. And the two things go hand in hand. Does that make sense?

George Thomas 15:21
It absolutely makes sense. And it leads me into when any, anytime you have conversation between marketing and sales, or C suite and marketing or anybody in anybody, to be honest with you, on a human level, there's going to be some mistakes that are made. So when you think about the conversation we're having around campaign warrior and website evaluation, it being asset versus an expense, what are some mistakes that you've seen along the way that people are making?

Adam Steinhardt 15:50
Yeah, that's a really good question. And you know, HubSpot kind of gotten this fun through growth driven design, is it there's a temptation for people to throw out their existing site and start again from scratch? Do the big build every couple years ago ahead and do the big bill, get it designed, roll it out, and then leave it again for three to five years. You know, that's a big, big mistake. There's great value in the existing site. And you're looking at the analytics of what's going on with that site. And often a renovation will quickly yield great results just by having a strategy that you know, a lot of what the HubSpot inbound methodology talks about just simply providing the call to actions build the journey of trust, so don't check out the existing website so quickly. Absolutely. And the other part of that, of course, is the fascination people have with the graphics and the way it looks, ultimately. I mean, eBay is a classic. It's been a shitty website for a long, long time since they started but it does its job really well and for Amazon is the same. They kind of pride themselves in not changing their design because they came from the 1990s now, and so they hang up on the design side of things should be swapped over. And the focus should be on the strategy and the content and what the journey is and less of a hang up on the design side of things. We see that a lot.

George Thomas 17:01
Yeah, I love that because a lot of companies, myself, to be honest, we get hung up on it's got to be pretty. And functionality. messaging has to Trump pretty, I think pretty has to be the salt and pepper that just makes it a great you know, website meal if you will. Adam, this has been a great conversation a of just a mind shift to it being an asset, value, knowing understanding the value of your website, in there also really value and understanding your marketing team and what you can spend or expect to grow in that asset as well as breaking down the silos of sales and marketing. So we've covered a lot of ground here and even the tool campaign lawyer, if people want to connect with you if they have more questions because we are trying to stick to the 15 minute podcast. Yeah, if they have more questions where you Where do you want to send them? How can they connect? Yeah, but

Adam Steinhardt 17:57
I can totally just touch base direct could meet Adam at the kingdom calm that I use my email. The very happy to have a chat and then we've got our websites the kingdom calm that I use HubSpot consulting business and you know we do complex stuff. We do a lot of API integration we take on board the hard stuff. And campaign warrior product is campaign warrior.com. So we give that away to HubSpot partners for free, which is nice. And also there's a free version which people can just jump on and you'll get a website spread straightaway. So definitely check that out.

George Thomas 18:33
Awesome. Appreciate that. sprocket Cheers. Remember, free is good. Let's just throw that out there. But remember to understand the value of your website, your marketing team, your sales and marketing relationships, because those are never free. And we'll see you on the next episode. Did you enjoy this episode of the 15 minute strategy podcast we'd love to know. leave a rating and written review wherever you listen to your favorite shows and keep that learning going by visiting sprocket talk comm sign up for your free membership. In that membership area, you can find bundled episodes where we combine like strategies to help you grow better make the world better and share this episode with your friends and co workers who may be battling this same obstacle. You can always reach out to George B. Thomas on Twitter with questions or guest suggestions or just to talk about your favorite Marvel superhero and go out into the world and leverage this strategy for your success. And we'll see you on the next episode of the 15 minute strategy podcast.