Strategy

I once took $1M and turned it into over 10X that. Here’s what it took:

The salaries, vendors, and 3 to 4 years of patience behind a $1M content program that paid back more than 10X.

Matthew Proctor, founder and CEO of Narrative Bent
Matthew Proctor
CEO & Founder
Published
July 12, 2024
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3 min read
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Transcript, lightly edited

‍

Spoiler alert: it wasn’t easy.

Just so we’re clear, that’s $1M total. Not an annual budget.

I’m including costs like:

👩‍🔧 salaries - for myself and my in-house team.
👨‍🔧 vendors - for freelance writers, agencies, and design.
🔗 PR & link building costs — sometimes you need to grease the wheels a bit.
📆 spread over 3 or 4 years, give or take.
😒 paid media to promote our content (though we didn’t spend much on this)
📽 equipment costs (for a makeshift video studio in the office)

I remember running my numbers and saying: "Holy cow! We’re about to make up everything we spent since we started this thing… in just this quarter alone."

At that point, we could have cut spend to $0 and still made millions that year.

Next one, too.

That’s how powerful SEO & Content Marketing can be.

It’s that kind of ROI that attracted me to this industry in the first place.

As a consultant, I’d advocate for this stuff until I was blue in the face.

But saying it is one thing. Doing it is another.

This was HARD.

☑ I built an editorial team that scaled production to 100+ articles/month in 2 years.

- I hired Editors who really knew their stuff AND had talent.
- They worked with hundreds of freelance writers.
- We set an incredibly high standard and fought like hell to maintain it on budget.
- We cleared roadblocks with virtual assistants.
- I saw us as a media company first, even if the business didn’t.

☑ I built an in-house PR & link building machine that landed thousands of links/month.

- I trained up the brightest entry level marketing talent I could find.
- I taught them the playbooks and how to manage an offshore team to scale up.
- We even ran “Content-Led PR” campaigns cited by WSJ.

☑ We started slow and anytime the monthly revenue = cost, we increased our budget to double our production goals.

☑ We covered high-converting, high-intent, bottom of the funnel topics FIRST.

- Then we moved up the funnel from there until we covered the entire customer journey.

☑ I used the blog as a testing ground for ideas and built business cases.

☑ I played “Growth PM” and worked with Product to roll out thousands of Programmatic pages

☑ We rolled out dozens of interactive front-end tools, too

- some call this “Product-led SEO” but I think it was more like “SEO-led Product.”

☑ Eventually, we’d grow the website from like 30 pages to 1M+.


We had a solid product with a healthy LTV. Not insane or anything, but strong.

I had an executive team who believed in SEO and they had enough runway to have patience.

I had a friendly Product & Engineering team who did too.

Plus, Google’s algorithm was relatively stable through those years.

Times have changed — Google’s different now, Social Media matters more, the field is more competitive, etc. — but the opportunity is still there for those who are willing to put in the time and the effort to seize it.

Are you?

‍

Follow me on LinkedIn for more stories like this: 

Matthew Proctor CEO @ Narrative Bent

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Strategy
Matthew Proctor, founder and CEO of Narrative Bent
Written by

Matthew Proctor

CEO & Founder

Led content and SEO at HomeLight from Series A to a $1B valuation.

I've worked in SEO for 16 years, and I've always measured it in revenue. I was employee #27 at HomeLight, where I led content and SEO and grew the team to about 30 people as the company went from Series A to a $1B valuation. Before that, I ran enterprise SEO programs at BrightEdge and Catalyst. In 2023 I started Narrative Bent to do the same work for proptech, fintech, and B2B companies with long sales cycles.

Real estate brokerage
9 → 51

Blog leads a month in 10 months, in a rough housing market.

Accounting software
~100

Demo requests from 1 webinar we built and promoted.

HomeLight · Before NB
Series A → $1B

The content and SEO program our founding team built.

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