Performance Marketing | Setting Targets, Tracking Conversions & Scaling
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- čas přidán 28. 07. 2024
- We learn about performance marketing, which is focused on scaling growth at a specific cost per conversion target (CPA or CAC). We break down target setting, measure CPAs, and diagnose performance changes in media spend.
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✅ Download the Excel template: bit.ly/performancemktg
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We learn about how to track performance marketing campaigns (cost per conversion marketing), set CPA targets, measure results, analyze different types of media spend, and scale.
We also walk through how to break down the customer lifetime value, which is the way to figure out how much you can spend in marketing to convert a new customer.
Finally, we cover the three metrics that will help you diagnose changes in performance on any media spend platform.
Sections:
0:12 what is performance marketing and why does it matter
2:13 goal of performance marketing and the key metrics
2:48 customer acquisition cost (CAC or CPA) calculation with example of paid vs. blended CAC
6:52 setting cost / conversion targets, calculating your customer lifetime value w/ example
10:33 breaking down CPA performance for prospecting vs. remarketing (cold vs. warm audiences)
12:11 types of prospecting vs. remarketing campaigns on Facebook
14:11 types of prospecting vs. remarketing campaigns on Google
16:12 three most important digital marketing KPIs to diagnose performance changes
By the end of this video, you will understand how to set targets, measure cost per conversion and scale digital marketing spend - I guarantee it.
If you have questions - leave a comment below and I'll try to help. Cheers!
#performancemarketing #digitalmarketingKPIs #startups
Questions? Let me know in the comments happy to discuss.
💡 Also, if you want to learn which finance frameworks the top 1% of founders use to scale their startups to massive outcomes, have a look at this ⇒ www.ericandrewsstartups.com/financeforstartups
Eric, you can't even imagine how grateful we are! Very structured, easy for understanding and valuable information. Thank you for your work!!!🌷🙏
Watching this video to prepare my job interview. This is extremely valuable. Thank you for your content.
Very well explained for a total beginner - thank you a lot! :)
Thanks Eric for sharing, this is very helpful.
This is great video. Many thanks for sharing, Eric. Looking forward hearing more from you regarding Performance Marketing.
Cheers Jaime, more to come 👍
Thank you eric, its really usefull
I'm in a career shift rn & interested in performance marketing. took a lot of course and doing an internship.
thank god I saw your content! worth the sub
Amazing content Eric... keep producing more educative stuff...
Glad it is helpful, appreciate the comment and more to come!
Incredible content. Thank you for sharing
You are very welcome bobby 👍
This is great - few questions from my side
1. What other solutions should be included here besides Google and Facebook. What is the interplay between them all?
2. How do we move from theory to operational reality. As in what is the steps required to set this up, what tools do we need, how do they interlock and what is needed to actually setup and automate attribution? I feel this whole process lives and dies with accurate attribution
3. It’s worth also discussing the deficiencies of the ad platforms. What can typically go wrong with them.
Awesome vid. Thanx
I love the way you explained everything!
My pleasure !
Just got a Digital Marketing job and this video was priceless for that. Thanks!
Congrats to you!!!! So glad to hear I could help
Really appreciate Eric. This is very useful for making marketing strategies for my clients. Thanks a lot!
Glad it was helpful!
It's amazing as always ❤️
Thank you so much Deepti for always letting me know!!!
Hi, your video explained the topic very clearly, thanks a lot!
you are very welcome
Awesome 💭💯
Very useful. Thanks for a great video
You're welcome!
Thank you
You're very welcome!
THANK GOD
WOW!
Hi Eric, this is sort of content is of super value to CZcams and it's algorithm. A blessing to have you explain about performance Marketing metrics in so much detail. Thank you for that.
Is this model applicable for b2b enterprise level SaaS company?? How can I one go about it?
My pleasure. Ya so all of this stuff for b2b saas would apply to the lead generation before the sales team comes in to try to convert clients. So you would be spending a lot to collect emails of qualified leads and managing that whole funnel using these marketing metrics, and then the sales team would reach out directly. So yes these ideas are essential to b2b saas or any business that spends and drives traffic online.
Also make video for amazon ppc
Amazing as always Eric! Hey well I wanted to ask a question...I am kinda new to finance...so please can you recommend me as a beginner...like where to start?
Sure thing, start here, and after check out the 3 statement financial model on my channel, and from there just keep going, my channel is packed with modeling videos: czcams.com/video/RghUyVCSdM4/video.html
Hey Eric Could I Get the Excel Soft Copy?
Hey! Very good video! I have a quick question when you calculate conversation to sales do you do it through SUM of total sales divided by Sum of ad views OR SUM of total sales divided by SUM of ad clicks and why?
ROAS (return on ad spend) is sales (by channel, if you can attribute) divided by ad spend. Conversion rate is purchases divided by clicks. They are both important as conversion rate can be flat but your cost of advertising can go up so you would only see that in the ROAS.
Hello Eric. Will there be any basic video for people (who do not have much experience about performance marketing campaign) who are just about to learn/ about to run performance marketing campaigns?
For sure, check out my playlist on digital marketing: czcams.com/play/PLdoBuNNnCmdXiKjTn5LIA8UAPu2kgCT5n.html
Hello, Thank you for the information, I have a question: how does the marketing creatives play a role in increasing the revnue.
In general better creative will drive higher click-through rates so you'll get more transactions from the same amount of marketing spend.
Thank you Eric, so concise, are you on LinkedIn? Do you have the same framework for Sales performance?
Yes happy to connect on there, I publish education content on LinkedIn & Instagram as well, I have links to them in the video description.
No I don't currently have one about sales
Didn't receive the template, already subscribed twice
Give it 5 minutes! It works but sometimes with a small delay.
Great video. Any tips tracking the impacto of paid ads on organic efforts as a byproduct?
I would look at your Google analytics data on a weekly basis by source/medium and watch week over week changes. When you crank up paid watch to see the magnitude of lift on your organic channels...and vice versa when you have a big organic lift paid usually performs better. That can give you a good sense of the relationship
@@eric_andrews i appreciate it. Would be great if you can make a video as GA content on CZcams is as good as reading a dictionary rather than showing use cases and case studies to really tidy up a good plan of attack.🙏
@@LennyYT haha OK will put it on my list 👍
Hey Eric, where can I go to learn more about exactly these kinds of KPIs related to performance marketing and CAC, CLT, CLTV, etc. for a monthly sub saas company?
I've got tons of videos on this subject:
LTV for SaaS: czcams.com/video/eHi875QuVcA/video.html
Unit economics: czcams.com/video/AMKgcBzK7cg/video.html
SaaS financial model: czcams.com/video/C7S6lXu4NS4/video.html&ab_channel=EricAndrews
@@eric_andrews thank you! I watched about 5 of your videos last night... 3x each! Really appreciate the top-tier content.
@@Gbrewz that's awesome! So glad to hear it
shouldn't you take COGS in order to set your max targeting cost?
Absolutely. Your absolute max CAC should be your customer lifetime value (total revenue - total COGS over the lifetime of the customer). Ideally though your CAC is much lower than your LTV.
Can u share the Excel file ?
It's available for free download right there in the description 👍
You're using words normal people don't understand
Tell me what word you don't understand I will help explain it
Dear sir, how can I contact you by email or Whatsapp