Your marketing agency is bullshitting you.
They're throwing acronyms at you left are right.
If the words you hear most from them are "Test" and "Optimize", something is afoot.
Is there even enough traffic volume to "test"?
What’s the point of the test?
How will you know if it’s a success or not?
Seldom is the important side of “testing” discussed.
But when you hear that dirty 4 letter word you just can’t resist.
Most can’t. Jimmy is a prime example.
Yesterday I was on a call with a company (Jimmy) pumping $5m a year in revenue.
They have enough volume to test stuff.
But what do they test and when? That is the question... We'll cover that one later.
They recently switched from one agency to another.
Reasoning: This new agency came in with the fancy language, they picked apart what the incumbent agency was/was not doing. And said they were going to do all this additional shit every month.
Oh, and they charged double.
What do you think happened {{first name | dude}}?
The new agency is performing worse (but still charging 2x).
This is an all too common occurrence.
The client should probably go back to their original agency with their tail between their legs.
But the real thing that got the company crossed up wasn't the fancy language or promising the moon.
It was not knowing the only 6 KPIs that matter.
Write these down:
Optin rate
New customers
Cost to acquire
Returning customers
Lifetime Value
Gross margin
This way you know if:
You're getting leads
The leads are buying
How much it costs to buy a customer
Customers are coming back
What a customer is worth lifetime
You are making a profit
Jimmy lost sight of these simple KPIs and was persuaded by these dudes sounding smart.
It happens.
But these are the metrics your marketers and agencies should be responsible for.
Not "testing stuff" for the sake of testing stuff.
If you want me to audit your KPIs with you smash the link below and let's jam.
Adios,
P.
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