Topics
- customer acquisition optimization
- profit-first approach
- acquisition prospecting
- retargeting
- retention
- optimization rules
Video summary
The video discusses how to optimize marketing campaigns and lower the cost of customer acquisition. The speaker advocates for profit-first and breaking even on the front end of campaigns before monetizing on the back end. The three main topics discussed are acquisition prospecting, retargeting, and retention. The speaker also explains optimization rules and shares a calculator tool for making clear judgments on campaign success.
Dig Deeper
Introduction
In this video, the speaker discusses various strategies to lower the cost of advertisement while maintaining profitability. The speaker emphasizes the importance of profit-first and scaling aggressively to succeed in the ecommerce industry.
Campaign Types
The speaker talks about three different types of campaigns: Acquisition prospecting, Second touch, and Retargeting. Acquisition prospecting is all about targeting people who have never seen or heard about the brand. Second touch targets those who may have seen or engaged with the ads but haven't yet visited the website. Retargeting targets visitors who have already shown interest in the brand but haven't made a purchase yet. The speaker highlights that each campaign class requires different targeting, content, and optimization strategies.
Optimization Rules
The speaker explains the importance of setting up optimization rules to increase profitability and scale the campaigns quickly. These optimization rules help to identify underperforming campaigns and ads and cut them out. The automated rules also turn off campaigns or ad sets if they don't meet the target CPA or the cost exceeds the stop-loss limit. The speaker also highlights that setting up safety rules for campaigns with delayed attributions is crucial to prevent losses.
Success Metrics Calculator
The speaker suggests building a success metrics calculator that includes correlation, conversion rates, and ROAS targets. The calculator helps to make informed decisions about the campaigns and give confidence to junior media buyers. The correlation is used to determine if CPC indicates the future purchase. Conversion rates help to understand how likely visitors are to complete the purchase funnel. The ROAS target defines the maximum spend limit based on pre-purchase metrics. The speaker emphasizes that good media buyers need to be confident in spending money, and the calculator can help them make informed decisions.
Bidding Strategy
The speaker suggests a bidding strategy to start with the lowest possible bid, coupled with a bid cap. He advises using the accelerated pacing option as it helps to gain momentum. The campaign pacing needs to be set based on the campaign goal, and though acceleration mode is generally considered a waste of money in the regular campaigns, it works great in certain situations like starting a new campaign.
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These strategies can be applied to affiliate marketing as well. Affiliates can leverage these tactics to lower their ad costs while maintaining profitability. The calculator and optimization rules can help affiliates to make informed decisions about their campaigns and scale them quickly. The bidding strategy can help affiliates to start with a low bid and gain momentum, leading to better results.
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