Insights Improve ROI Insights should tell you which campaigns are providing a better ROI. Assume an example where there are two campaigns with a total of 100 new leads generated per campaign. 25% click-through rate, $1 cost per click, 1% conversion rate, with an LTV of $100 or a = $75 Loss 5% click-through rate, $3 cost per click, 15% conversion rate, with an LTV of $1,000 = $450 Profit If just the click-through rate or cost per click is used to make a decision on which campaign performed better, you’ll be losing many thousands of advertising dollars per month. From this insight, I see that the issue is product-market fit. In the first campaign, there’s a high level of interest in the message but very little interest in the product even at a low entry price of $100.
Reasons could include: the person doing the research doesn’t have decision making power, they are just window shopping, or the campaign was misleading, and the user landed on the wrong page. You may be thinking, how do I parse through all of these “insights” to figure out what’s working and what’s not? Hire a VP of Angles. VP of Angles Italy Phone Number List This person’s sole job is to find the opportunities in your data. Their essential function is to identify where and how to make improvements by doubling down, where and how to test further to identify the triggers driving identified behaviors, and what to kill. A good VP of Angles will have a CRO (or conversion rate optimization) framework that they use to analyze opportunities and risks to meeting OKRs.
They will also have an MED (minimum effective dose) approach to optimization. Here are summaries of the two CRO frameworks I use and how I implement MED: This piece is part of a series surrounding website development best practices as followed by Marketo’s web development team. You can learn about the pre-planning process, how to create an actionable plan, setting your team & project up for success, and managing your team throughout the build process in our previous posts. Now you’re almost at the finish line! Everyone on the team is excited.