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