22 December 2022 |
127 – How To Execute Brand Performance, With Alexa Kilroy
By Daniel Murray
From education to Head of Brand at Triple Whale, Alexa’s journey into Marketing is an interesting one. Hear her hot takes on brand performance.
Daniel and Alexa jump straight in talking about Google Ads, why authenticity matters more than what people think of you, and why the psychology of marketing and education go hand-in-hand.
You’ll also hear Alexa’s takes on why Amazon and DoorDash are shaping customer expectations and why it’s time to ditch the fluff.
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Daniel is a Workweek friend, working to produce amazing podcasts. Find out more, visit: www.workweek.com
01:31 Combining Brand And Performance
02:47 Growing Outside The Bubble
06:08 The Psychology of Marketing
09:32 Figuring Out Customer Experience
12:49 Alexa’s Two Marketing Hills
17:29 Creating Authority On Landing Pages
20:50 Becoming Repurposeful
23:05 Getting Into Google Ads
26:12 Who Gives A Shit?
A Beginner’s Guide to Performance Marketing
Performance marketing is a powerful tool for businesses looking to maximize their ad spend and drive higher returns on their investments. It involves analyzing and optimizing customer journeys across different channels and devices, as well as addressing any issues that may arise during the process. By leveraging performance marketing techniques, businesses can fine-tune their marketing strategies and make smarter decisions.
This beginner’s guide will help you get started with performance marketing and provide you with the tools needed to maximize your ad spend and reach your business goals. From understanding the importance of data to identifying the right metrics to measure success, this guide will provide you with the guidance and resources you need to get the most out of your performance marketing campaigns.
Understanding the importance of data
The primary goal of performance marketing is to increase your sales and revenue. To do so, marketers must first have access to the right data and understand their audiences and what they respond to. Data is essential for businesses to understand their customers’ journeys and optimize their experiences across different platforms and devices. It’s important that marketers understand the type of data they have access to and how it can be used to inform marketing strategies. There are two core types of data marketers should be paying attention to:
Customer data: This data includes information about your customers’ demographics, behaviors, and preferences. Customer data can help marketers create more personalized experiences for their customers, giving them what they want, when they want it.
Behavioral data: Behavioral data is a record of how customers interact with your website and marketing channels. This data helps marketers identify where customers are dropping off and find solutions to address any issues they may be having. Behavioral data also includes information about your customers’ journey, including their path to purchase and other interactions with your brand.
Behavioral data can be used to optimize the customer journey across different channels and devices, from their first impressions with your brand to their last interactions. Behavioral data is commonly collected using website analytics tools, including Google Analytics.
Identifying the right metrics to measure success
The metrics that you use to measure success will depend on your goals for your performance marketing campaigns. Before you start analyzing data, it’s important to identify the metrics that will help you gauge whether your campaigns are successful. Below are some of the most important metrics you should be measuring to gauge the success of your performance marketing campaigns.
Conversion rate: Conversion rate is the number of conversions your business receives divided by the number of impressions your ads receive. This is a great metric to measure because it gives you an idea of how many people are clicking on your ads and how many of those clicks translate into sales. You can use conversion tracking to measure your conversion rates across different channels and devices.
Cost per acquisition: The cost per acquisition metric is essentially what your average cost is per new customer. You can calculate this by taking your total ad spend and dividing it by the number of new customers you’ve acquired. This is a great metric to track because it gives you an idea of how much it costs to acquire each new customer.
Setting performance marketing goals
Now that you understand the importance of data and how to identify the right metrics to measure success, it’s time to set your performance marketing goals. The first step in setting goals is to determine your business goals. What is your business trying to achieve? Is your business trying to increase sales? Or maybe you’re trying to reach new audiences. Once you’ve determined your business goals, it’s time to set goals for your performance marketing campaigns.
Analyzing customer journeys across different channels and devices
The first step in analyzing customer journeys is to identify the touchpoints and channels where your customers are engaging with your brand. This can include a variety of different platforms, including social media and search engine marketing, as well as more traditional channels, like TV and radio. Once you’ve identified the channels your customers are engaging with, it’s time to begin analyzing customer journeys across these channels. When analyzing customer journeys, it’s important to consider a variety of different factors, including dwell times, click paths, and paths to conversions.
Dwell times – Dwell times help you understand how long someone is engaging with your brand across different channels. This includes both online and offline interactions.
Click paths – Click paths help you understand the path visitors are taking while interacting with your brand and where they are dropping off.
Paths to conversions – Paths to conversions help you understand the path visitors are taking to convert and what is slowing them down.
Optimizing customer journeys
Now that you’ve analyzed customer journeys across different channels and devices, it’s time to start optimizing customer journeys.
Before you can solve a problem, you need to first understand what they are. Before you can optimize your customer journeys, you first need to identify and understand the problems your customers are facing.
Once you know the problems you can identify the ideal customer journey and how that journey differs from real customer experiences. Move your focus over to creating solutions and then move them into the testing phrase.
Addressing any issues that may arise during the process
At some point, you may run into issues with your performance marketing campaigns. It’s important to understand these issues and have a plan for addressing them before they arise. If you’re not sure what issues may arise during the process, here are some common issues that may arise with your performance marketing campaigns:
A/B testing – While it’s important to test and experiment with different solutions, it’s also important to know when to end the experiment. If you’re running multiple A/B tests, you may want to set a time limit for each test to ensure you’re not overcomplicating your marketing efforts.