Performance Marketing Areas
There are four areas of Performance Marketing that Eighty Twenty uses to help scale companies.
1. Measuring the Pipeline through Analytics & Insights
Knowing your cost per lead (and other KPIs) is like eating your vegetables, it might not be fun, but you need to do it to be healthy (or your business to be healthy).
If you aren’t measuring your whole marketing and sales pipeline, then there isn’t much point doing anything else. If you can’t track the lead nurture campaigns that are generating clients, then it’s not worth doing. If you can’t say whether Google or Facebook ads brought in the best cost per acquisition (and lifetime value, for that matter), then it’s not worth doing.
Determining the right KPIs, selecting and setting up the technology to track and measure them, and upskilling team members to manage reporting that allows for ongoing insights might be like broccoli for most - but you need to eat your damn broccoli.
2. Making the Pipeline Scalable through Lead & Client Nurture
Treating people like people isn’t just something that your parents told you to do when you were being rude. It turns out that it is also the best marketing advice you can get.
If you are sending the same email to everyone on your list, please stop. Each person that has been kind enough to let you email them have different wants, needs and aspirations. Why would you send them all the same email? Does the Canadian on your mailing list want to get an email for an air conditioner sale in January? Probably not, but the Australian on your list probably does.
Understanding your lead and client personas (fancy word for ‘who they are’) and the journey they go through to buy is critical to generating more new clients - not to mention keeping more of the ones you have.
3. Filling the Pipeline through Lead Generation
Everybody wants more leads. They are like revenue waiting to happen, right? But to get the most out of your leads, you need to know the cost and return on investment.
If you can’t measure your cost per lead and cost per acquisition, stop your Google Ads campaign immediately and review the two steps above. If you are measuring cost per lead - are you also optimizing your spend through continuous testing of new and different channels, targeting strategies, ad types and ad copy/creative? And this is just the paid media side of things.
Driving more and better leads, be it from paid media or organic search (the search results that Google doesn’t charge you for), is all about continuous improvement and iteration. This is how you get the most from advertising budget - sorry if you were expecting a silver bullet on this one.
4. Optimizing the Pipeline through Platform Optimization
This is going to be hard to read…your website could be much better. The only way this isn’t the case is if you made the perfect website - which you probably didn’t.
I’m not saying that your website isn’t good, just that it can always be better. What is ‘better’? How would you like more leads from the same amount of traffic you are getting today? How would you like better qualified leads than the ones contacting you today? How would you like to minimize client support time? All this becomes possible by taking a deep breath and admitting that your website isn’t perfect.
User Research/Testing, A/B and Multivariate Testing are the 10 dollar words that help to get you there. It’s basically about finding and resolving friction points on your website. It’s like ironing away wrinkles, but way more fun (and profitable).
I get it, now what?
Want to find out how to put these Performance Marketing areas to work for your company? Just fill out the short contact form and we’ll have a conversation.