Episodes - Marketing Conceptshttps://www.marketingconcepts.co/episodes/Sat, 02 Nov 2024 07:23:37 +0000en-USSite-Server v@build.version@ (http://www.squarespace.com)Episode VII - Shitty Click-ThroughsNicolas VargasMon, 22 Jun 2020 14:51:25 +0000https://www.marketingconcepts.co/episodes/shitty-clickthroughs5e608767e0f57c3a59ab5199:5eab6123db2c571335f2afba:5ee71583dd4fcc494828da15Did you know the First-Ever Banner Ad on the Web back in 1994 had a 44% click through rate? A 44% CTR is insane and almost impossible to get in 2020.

Why is that? Because marketing channels have a lifecycle and tend to lose effectiveness once they face saturation

To give you a bit of context, by 2020, the average CTR in Google Ads on mobile across all industries was 4.10% on Search, 0.60% on the display network and global open rates on Email were around 13.9%.

In this episode of Marketing Concepts, I’ll take you through the Law of “Shitty Click-Throughs” and the process I use to work around it and avoid design, package and develop content using a product development framework.

Marketing Concept of the Week: Shitty Click-Throughs

The Law of Shitty Click-Throughs states that overtime all marketing strategies result in shitty clickthrough rates - it is often described as the force of gravity in marketing.

There are a 3 main reasons why this phenomenon happens:

  1. Customers learn to avoid authentic and useful marketing: Initially superficial marketing campaigns work well as your users try it for the first time, but afterwards, they’ll learn to filter out your marketing unless you are constantly adding value.

  2. Innovations Curve Is Shortening Overtime: Technology made innovation feasible for almost everyone and when everyone has similar resources successful and innovative marketing campaigns are easy to replicate which leads to saturation.

  3. Scalability = Less Control = Less Qualified Customers: Using the Technology Adoption Lifecycle will help you understand how early adopters normally seek out novelty, whereas the mainstream market just cares if you solve a problem for them.

How to deal with the Law of Shitty Click Throughs

There’s a few things you can try to deal with the law of Shitty Click Throughs

  • Experimenting & developing new creative, messages and campaigns will push the Law of Shitty Clickthroughs to act over a longer period of time rather than degrading your marketing efforts over month or weeks

  • Organic Channels tend to have better CTRs as their lifecycle tends to be longer than Paid Channels. However they normally require more effort (a better understanding of your audience and better marketing assets)

Growth Marketing Framework

Here’s the framework, I use to mitigate the effects of the law of Shitty Click Throughs - 4 Steps to Creating a Successful Growth Marketing Plan

  1. Define your marketing goals

  2. Define your targeted users (target audience)

  3. Identify effective channels and tactics

  4. Document your progress & find new opportunities

Get Your Own Version Of My Growth Marketing Framework here

Further Readings

The Law of Shitty Clickthroughs

A Simple Growth Marketing Plan For SaaS Startups

Remarkable Marketer of the Week: Paul Graham

Paul Graham is a marketer, programmer, writer and investor. He has been writing marketing and entrepreneurship essays since 2011. His site paulgraham.com is one of the most popular blogs in Silicon Valley and gets around 15 million page views every year.

In 2005 along with Jessica Livingstone, Robert Morris and Trevor Blackwell he started Y Combinator a startup incubator that has helped businesses like Airbnb, Stripe, Dropbox, Reddit and many more.

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Let's dig deeper into Paul’s most remarkable marketing ideas

Remarkable Ideas

Being A Noob



In our society being a Noob (someone who is constantly trying to figure out topics they don't understand well enough)has a bad connotation - Paul Graham believes being a Noob should have a positive connotation as it teaches you to learn more.

If you don’t force yourself to be a Noob you might end up learning nothing new in life. - The more of a noob you are locally, the less of a noob you are globally.

He believes the feeling of being a noob is inversely correlated with actual ignorance.

Startup = Growth

  • Paul Graham defines a startup as a company designed to grow fast and believes the only essential thing for a startups is growth

  • The are 2 things a needs to do to grow grow really big. 1. Make something lots of people want and 2. Reach & Serve all those people.

  • Growth Rate: It is the measure of a startup. This number will tell what you're doing well or badly. What matters is not the absolute number of new customers, but the ratio of new customers to existing ones.

  • Investing opportunities: All investors are looking at the ratio of return to risk and startups pass that test because although they're appallingly risky, the returns when they do succeed are so high

  • Understand Growth: Growth drives everything in this world. Growth is why startups usually work on technology — because ideas for fast growing companies are so rare that the best way to find new ones is to discover those recently made viable by change, and technology is the best source of rapid change

  • Starting a startup is like deciding to be a research scientist: you're not committing to solve any specific problem; you don't know for sure which problems are soluble; but you're committing to try to discover something no one knew before.

Do things that don't scale

  • All startups need to do things that don’t scale at the initial stage, as they don’t know if their solution is actually valuable to a big group of users - Startups take off because the founders make them take off.

  • Startups are fragile when they are starting out and need to manually get their first users, which is only easy if you build something to solve a significant problem for a relevant group of people.

Early startups need to considered the following unscalable activities

  • Delight: Companies should not only acquire users, but make them happy. Your first users should feel that signing up with you was one of the best choices they ever made. And you in turn should be racking your brains to think of new ways to delight them.

  • Consult: pick a single user and act as a consultants trying to build something just for that one user. This serves as a mold that you need to keep tweaking till you fit other their needs perfectly (this will satisfy other people similar to your original user)

  • Manual Activities: When you have a small number of users, you can potentially do things by hand and automate later

  • Vector : Think of the unscalable thing(s) you're going to do initially as part of the growth process

    Connect with Paul

You can follow Paul on the following platforms:

Marketing Tool Of The Week : Rank Sense

Tool description

RankSense is a real-time monitoring & Agile SEO platforms that detects, removes and provide recommendations that improve your business organic traffic in weeks not months - It uses Cloudflare infrastructure to support its real-time monitoring process

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Let’s have a look at Ranksense most important features

Features

Real-Time Monitoring

This tool detects traffic-killing issues in real time, and send instant notifications via email, Slack or SMS

Faster Crawling With Cloud Computing

Website crawls during peak hours can slow down your site during and cost you extra money in bandwidth usage.

This tools uses Cloudfare and piggybacks on

search engines.

crawls to optimize your site’s bandwidth.

Agile Implementation

The tools has ability to quickly identify issues in Cloudflare’s CDN, while simultaneously opening a ticket in your project management system to fix it.

You can also easily preview fixes before they go live to make sure they don’t disrupt your user flow.

Pricing

RankSense has 4 plans

  • Lite - $30/month

  • Basic - $105/month

  • Plus - $300/month

  • Professional - $1575/month

Audience

Mid and Senior Level Marketers dealing with big websites (100K+ Organic users a month) looking for ways to leverage Agile SEO and optimize their Organic Search Workflow on a weekly/daily basis - You need to have enough budget to pay at least $30+ a month.

Alternatives


Here are a few alternatives to RankSense in the market

SE Ranking - Similar features except for Cloudflare infrastructure & Agile implementation

SERPstat - All-in-one SEO platform which provides more than 20 tools: Competitor Analysis, Keyword Research, Backlink Analysis, Site Audit and Rank Tracker and many more. Serpstat is the fastest-growing SEO tool on the market that provides comprehensive search analytics data to more than 300,000 users.

RavenTools - White Label SEO Reports & All-in-one SEO platform


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]]>Episode VII - Shitty Click-ThroughsEpisode VI - Content As A ProductNicolas VargasMon, 08 Jun 2020 17:56:15 +0000https://www.marketingconcepts.co/episodes/content-as-a-product5e608767e0f57c3a59ab5199:5eab6123db2c571335f2afba:5edb6c5230d909160d0f7b23Effective Content marketing campaigns must be seen as a product and not as something used once. Your content should be packaged & designed using a product development framework that is alive, improving on an ongoing basis and focused on users needs and directives.

Treating your content as a product is crucial in world where everyone is consuming lost of content. According to Adobe Consumer Content Survey Consumers 8.8 hours a day, on average, engaging with digital content. Without an appealing package and a relevant design your content won’t be consumed by your ideal audience

In this episode of Marketing Concepts, I’ll take you through the process I use design, package and develop content using a product development framework.

Marketing Concept of the Week: Content As A Product

“Content As A Product” is a framework that treat content like a product developing a comprehensive process that designs, packages, tests and develops content the same way a product manager develops multiple product

This process understands that content marketing is a continuos process that never ends and evolves over time . Under this each distribution channel is treated as a separate product that needs to develop and validate its own value proposition

Content Development Process

Here’s the 5 steps process, I use to mitigate the effects of content decay

  1. Identify Topics Your Users Need To Know About

  2. Define Needs & Motivations

  3. Map out Your Customer Journey

  4. Validate Your Value Proposition

  5. Monitor & Refine

Further Readings

Content Isn’t King, Content Is a Product

Episode V - Content Decay


Remarkable Marketer of the Week: Andrew Chen

Andrew Chen is an investor and marketer with extensive experience in growth marketing for startups & tech companies. He has worked for companies like Uber, Hipcamp, Envoy, SandboxVR, Snackpass, Singularity, Virtual Kitchen Co., and Substack.

Currently he is a General Partner at Andreessen Horowitz and his website is one of the most influential sites within the growth marketing industry.

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Let's dig deeper into Andre’s most remarkable marketing ideas

Remarkable Ideas

There’s only a few ways to scale user growth, and here’s the list

In this Essay Andrew analyzed some of the most successful mobile/web products. He identified growth patterns and classified growth channels into to different groups: Scalable & Non-Scalable

Scalable Growth Channels (High-Risk & High-Reward): These channels scale because when you are paying for paying users, which allow you to use margins to buy more users (feedback loops). They normally also have a huge amount of users or a high ceiling saturation.

Here’s A list of the Scalable Growth Channels

  • Paid Acquisition - For products with a short sales cycle (generating quick revenue from users) you can use ads to buy new users. Most companies try to maintain a ratio of 3:1 (CLV:CAC)

  • Virality Or "Word Of Mouth" at scale: Getting users to help you acquire new users through word of mouth it’s a cheap and sustainable way to scale and grow your user base.

  • SEO - It will attract millions of potential clients through unique and valuable content.

  • Sales - Inbound and Outbound sales in order to attract B2B customers - It is important to make sure you generate enough revenue to justify a sales team (Normally 100K+ MRR)

Non-Scalable Growth Channels: Channels that won’t scale overtime (Email A list of contacts or friends, PR from one particular Brand, Forums etc) You should use this channels because the normally represent low risk and they put you in direct/close contact with your users.

“In the context of these growth channels, the key is to balance a series of progressively more scalable growth projects, while keeping track of the big growth channels that will help you shoot the moon”

The Dumb Idea Paradox: Why great ideas often start out by sounding dumb.

In this Essay, Andrew explores the concept of the dumb idea paradox. A concept he defines as a dumb-sounding idea that appeals to a small group of people, wherein the group of people who are highly engaged with the idea continues to grow bigger and bigger through time.

He explains how Native users versus immigrant users want different kinds of products and uses the following example to explain this concept

If you are Instagram-native, what you consider a great idea for a new retail space or ecomm brand is likely very different than someone who isn’t exposed to the same thousands of pics

He thinks the upcoming generation are using tech in a different way so their expectations and product requirements will be very different.

Know the difference between data-informed and versus data-driven

In this Article Andrew, tries to establish the difference between a data informed and data driven professional by analyzing the importance and influence of data.

According to Andrew data is powerful tool for businesses because it is concrete and allow them to create metrics that reflect their business/product strategy and are limited to a specific audience and product.  

A Data informed professional acknowledges the fact that at any point on time you can only look at a small portion of information in order to make a successful product . This means you often know how to iterate towards targeted objectives, but you don’t have enough data to understand how to get a the best outcome in the biggest market.

A Data driven professional understands that the data at his disposal is only one piece of a problem with thousands of constantly changing variables. A data driven professional knows the following about data

  • Data is often systematically biased.

  • It’s also not the right tool, to address the macro aspects of the problem (not everything is an optimization problem).Without a vision for how the industry will evolve and improve, your products are eventually disrupted.

As marketers we need to

  1. Have a vision for what you are trying to do

  2. Use data to validate and map down your vision into small enough pieces where you can begin to execute in a data-informed way.

  3. Don’t let shallow analysis of data that happens to be cheap/easy/fast to collect nudge you off-course

Connect with Andrew

You can follow Andrew on the following platforms:

Marketing Tool Of The Week : Frase.io

Tool description

Frase.io is a content intelligence and answer engine that helps marketers align content generation with questions your visitors currently have. It uses AI to analyze your audience needs and provide relevant content recommendations.

Amazingly Simple Graphic Design Software - Canva


Let’s have a look at Frase.io most important features

Features


Content Optimization

Frase.io helps you identify the topics that will improve your website engagement and organic traffic.

It compares your content to other best performing content and provides you a list of recommendations.

Content Briefs

Frase.io simplifies the content creation process by looking at the best 20 results from Google and atomatically generates the best content brief based on patterns.

Advanced Answer Engine

Frase.io

enables features that allow users to ask their doubts regarding your website, products, or any kind of information they want to know.

The tool also looks at forums and QA sites to identify poplar questions relevant to your audience.


Pricing

Frase.io offers three pricing plans:

  • Basic- $39.99/month and you will get 1 user support, 30 documents/month and 3 crawls

  • Growth- $99.99/month and you will get 3 user support, 30 unlimited documents, and 50 crawls

  • Answer Engine- $199.99/month and you will get 3 users support, unlimited documents, 50 crawls, 500 answers/month per answer engine

Audience

Entry, Mid and Senior Level Marketers looking for ways to optimize their content marketing workflow - You need to have enough budget to pay $40+ a month.

Alternatives

Here are a few alternatives to Frase.io

  • MarketMuse: AI supported Content Intelligence and Strategy Platform. MarkeMuse AI is a bot more robust and offers more expensive prices.

  • SEMrush- Content Tools offer similar functionality in terms of content research, strategy and optimization - Ai is limited compared to MarketMuse

  • Buzzsumo- Content Discovery & Optimization with Influencer Research capabilities.

We want to give a SPECIAL SHOUT-OUT to our paid Subscribers for helping to make this episode possible 🙏

Jono Robertson


]]>Episode VI - Content As A ProductEpisode V - Content DecayNicolas VargasMon, 01 Jun 2020 16:27:24 +0000https://www.marketingconcepts.co/episodes/content-decay5e608767e0f57c3a59ab5199:5eab6123db2c571335f2afba:5ed378673a6bea33d5dc3f83Most marketers approach content marketing with an unbalance framework that prioritizes content creation and neglects hidden opportunities under historical pieces.

In a world where over 4.4 million blog posts are published every day marketers need a better framework for content marketing. One that takes into consideration important factors like the lifecycle of content, user & customer journeys, and the competitive landscape of content.

In this episode of Marketing Concepts, I’ll take you through the exact process I use to analize content performance and mitigate content decay over time

Marketing Concept of the Week: Content Decay

Content Decay is a phase of the content lifecycle in which content assets lose their ability to acquire, activate and retain users. It occurs after the maturity phase and it opens up a whole bunch of new opportunities for growth.

Content Lifecycle

Content Assets Lose Their Ability To Acquire, Activate & Retain Users Over Time

What causes Content Decay?

As you can see any type of content you produce will experience decay at some point in time. In my experience content decay occurs for the following reasons ( I’m not including obvious reasons like broken pages)

  1. Your content maxed out its ability to engage with an addressable audience (Distribution Issues)

  2. Your content is not longer relevant (Relevancy Issues)

  3. You don’t have a clear system to measure and assess content performance over time (Workflow Issues)

Content Optimization Process

Here’s the 4 steps process, I use to mitigate the effects of content decay

  1. Assess Content Performance Over time

  2. Diagnose Performance Issues

  3. Prioritize Key Assets Based on Biz goals & Ease of Implementation

  4. Optimize Key Assets

Further Readings

Exploit the Product Life Cycle

The Science Behind 100,000-View Blog Posts


Remarkable Marketer of the Week: Karola Karlson

Karola Karlson is a growth and marketing professional with experience in branding, copywriting, paid acquisition, content marketing , CRO and mobile apps optimization. She’s the former Head of Global Marketing at Bolt(Taxify)

Let's dig deeper into Karola’s most remarkable marketing ideas

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Remarkable Ideas

Want to Become an In-demand Marketer? Read More

Karola believes reading will help you

  • Improve your current marketing skills and develop new ones.

  • Improve your ideation process allowing you to come up with better ideas (ways to solve marketing problems)

  • Improve your experimentation process - It will help you find new tactics/experiments to try

  • It will gives you a competitive advantage - most marketers read and test only “best practices"

Start Thinking 10x Instead of 10%

  • Small short term growth goals aren’t beneficial for marketers because they don’t push them to think out of the box and work towards significant growth (10% growth MoM)

  • Ambitious Long term growth goals will motivate your team and encourage innovation to achieve significant growth(10x Growth every Quarter)

Connect with Karola

You can follow Karola on the following platforms:

Marketing Tool Of The Week : MarketMuse

Tool description

MarketMuse is a Content Intelligence and Strategy Platform that supports marketers with the research, plan, and content creation process. It uses AI to easily optimize each phase of the content lifecycle.

Let's have a look at the most important features of MarketMuse

Amazingly Simple Graphic Design Software - Canva

Features

MarketMuse offers solutions in the following Areas.

Content Strategy

  • A system of customized metrics that improves predictability in terms of content performance.

  • Personalized difficulty score that helps you prioritize content assets based on competition and business goals

Content Research

  • Content research supported by AI to easily understand buyer’s needs, search intent and competitive content at scale

  • Perform in-depth content research in minutes

Content Optimization

  • Quickly discover the most relevant and related topics you’ll need to cover on your site.

  • Create an optimization workflow focusing on users, matching topics to different buyer intents and life cycle stages.

Pricing

Here’s a breakdown of the 4 main plans MarketMuse offers

  • Pro :

    $325 per month, but there's a free 3-month trial period.

  • Bronze:

    Customized Price, 1

    website and 60 content briefs/year.

  • Silver:

    Customized Price

    , 1 -3 websites and 180 Content briefs/year

  • Gold: Customized Price, 1 - 5+ sites, 360+ Content Briefs/Year

Audience

Mid and Senior Level Marketers looking for ways to optimize their content marketing workflow - You need to have enough budget to pay $300+ a month. Do not use MarketMuse If you haven’t created a content strategy before.

Alternatives

Here are a few alternatives to MarketMuse

  • Clearscope - Similar Service in terms of features and pricing - It doesn’t offer free trials

  • Frase.io - A tool that aligns your website content with the questions your visitors are asking - Similar Functionality & significantly cheaper prices.

  • SEMrush- Content Tools offer similar functionality in terms of content research, strategy and optimization - Ai is limited compared to MarketMuse



We want to give a SPECIAL SHOUT-OUT to our paid Subscribers for helping to make this episode possible 🙏

Jono Robertson

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]]>Episode V - Content DecayMarketing Automation ProcessNicolas VargasMon, 25 May 2020 08:39:27 +0000https://www.marketingconcepts.co/episodes/marketing-automation-process5e608767e0f57c3a59ab5199:5eab6123db2c571335f2afba:5ec5f6d8d487bb78e385c69dMarketing Automation (MA) has been historically perceived as a “magic” tool for marketers to fix any type of growth or marketing issues. Most marketing “experts” are obsessed with tools to automate as much as they can without a clear or realistic goal in mind.

Despite the fact Marketers nowadays get bombarded with “better & cheaper” marketing automations technology companies, 40% of marketers have issues proving the effectiveness of their efforts to their bosses. (Hubspot)

In this episode of Marketing Concepts, I’ll take you the exact process I use to automate marketing activities for my clients and develop a marketing automation system for any type of business.

Forget the "Magic Bullet": A Human-Centered Approach to Marketing Automation

Marketing automation (MA) isn't a magic tool that fixes every growth problem. In fact, many marketers get overwhelmed by the endless options, leading to confusion and wasted resources. But what if there was a better way?

This guide will equip you, the non-technical marketer, with a clear, four-step process to implement marketing automation effectively. We'll focus on understanding your audience and building a solid strategy, not just flashy tools.

4 Steps to a Strategic Marketing Automation System:

  1. Unmasking Your Customers' Needs:
    We'll utilize the JTBD Framework to understand the Jobs To Be Done by your customers. Why do they need your product? What problems are they trying to solve?

  2. Mapping the Customer Journey:
    Let's visualize the entire Customer Journey, from initial awareness to loyal customer. This helps pinpoint the best touchpoints for automation.

  3. Prioritize Your Marketing Activities: Not everything needs automation. Identify the key actions that will have the biggest impact on your marketing goals.

  4. Automate What Makes Sense:
    Now, let's explore automation tools strategically. Automate tasks that are repetitive, time-consuming, and benefit from data-driven insights.

Beyond the Hype: Practical Benefits of a Strategic Marketing Automation System

  • Enhanced Customer Experience: Deliver personalized interactions at every stage of the journey.

  • Increased Efficiency: Free up marketing resources for strategic initiatives.

  • Improved ROI: Track results and optimize campaigns for maximum return on investment.

Bonus Resources:

  • Download a free PNG of the Marketing Automation Process flow chart. Marketing Automation Process

  • Explore "Marketing Automation for Non-Technical Professionals" - The No-Nonsense Guide.

Discover & share this Marketing GIF with everyone you know. GIPHY is how you search, share, discover, and create GIFs.

Why Should You Use Marketing Automation?

  • Increased Efficiency: Automate repetitive tasks like email campaigns, social media posting, and lead nurturing.

  • Enhanced Customer Experience: Deliver personalised messages and experiences at the right time.

  • Improved Lead Generation: Nurture leads effectively and convert them into customers.

  • Boosted Sales: Automate follow-up processes and nurture deals to close more sales.

Real-World Use Cases for Different Marketer Levels:

Beginner Marketers:

  • Email Marketing Automation: Set up automated email workflows to welcome new subscribers, nurture leads, and re-engage inactive customers.

  • Social Media Automation: Schedule posts, respond to comments, and run social media ads automatically.

  • Lead Scoring and Grading: Automatically qualify leads based on their behaviour and assign them to sales teams.

Intermediate Marketers:

  • Personalised Marketing: Use customer data to create personalised email campaigns, website experiences, and product recommendations.

  • A/B Testing: Automate the testing of different marketing elements (e.g., subject lines, email content, landing pages) to optimise performance.

  • Marketing Analytics: Track key metrics and generate insightful reports to measure the effectiveness of your marketing campaigns.

Advanced Marketers:

  • Complex Workflows: Create intricate marketing automation workflows that involve multiple steps and decision points.

  • Predictive Analytics: Utilise AI-powered tools to predict customer behaviour and tailor your marketing efforts accordingly.

  • Integration with CRM: Seamlessly integrate your marketing automation platform with your CRM to ensure data consistency and improve lead management.

Key Steps to Implement Marketing Automation:

  1. Define Your Goals: Clearly outline the specific goals you want to achieve with marketing automation, such as increasing lead generation, improving customer retention, or boosting sales.

  2. Identify Your Target Audience: Understand your ideal customer profile and create buyer personas to tailor your marketing messages.

  3. Map Your Customer Journey: Visualise the customer journey from initial awareness to post-purchase and identify key touchpoints for automation.

  4. Choose the Right Marketing Automation Tool: Select a tool that aligns with your budget, technical expertise, and specific needs. Consider popular options like HubSpot, Marketo, or Pardot.

  5. Create Your Marketing Workflows: Design automated workflows for lead nurturing, email campaigns, social media posting, and other marketing activities.

  6. Test and Optimise: Continuously test and refine your marketing automation workflows to improve performance and achieve your goals.

Further Readings

Marketing Automation for Non-Technical Professionals [The No-Nonsense Guide]

Marketing Automation Presentation by John D.C. Little from MIT Sloan

Remarkable Marketer of the Week: Sean Ellis

Sean Ellis is a Marketer, Author and Founder considered the father of Growth Hacking. He’s the Author of Hacking Growth, CEO of Growthhackers.com and former Marketer of successful startups like Dropbox, Eventbrite & LogMeIn.

Let's find out more about Sean’s most remarkable ideas


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Remarkable Ideas

Below I’ll deconstruct some of the most remarkable ideas Sean has discussed in various publications before.

Using Product/Market Fit to Drive Sustainable Growth

  • Sean popularized the idea of product/market as a leading indicator that helps companies understand if early customers consider their product a must-have.

  • Scaling growth for a business before having product/market is nearly impossible as you haven’t validate your product or service offering

  • Sean developed a simple process to determine product/market fit. It requires

    1. A decent sample size (30+ active users - do not waste your time on non-active users)

    2. A simple survey with the following question - “How would you feel if you could no longer use [ProductName]?”a) Very disappointed, b) Somewhat disappointed, c) Not disappointed, d) N/A I no longer use [ProductName]

  • To get an indication of product/market fit, you’ll want to know the percentage of people who would be “very disappointed” and this percentage should be close to 40%

What is a North Star Metric?

  • The North Star Metric (NSM) is a single metric that captures the aggregated core value people get form your product

  • To define your North Star Metric you must understand the actual value your most loyal customers get from your product i.e Airbnb uses nights booked and FB uses daily active users

  • Marketers need to understand the relationship between their NSM and other interdependent variables that contribute to your end-goal.

Growth is Simple

Sean thinks the main factors of growth are:

  1. Identify your North Star Metric: Understand the real value your product is providing to your audience.

  2. Grow your North Star Metric via Experimentation: By definition if you have product/market fit you’ll get some organic traction i.e word-of-mouth. However, you must accelerate your growth efforts experimenting with other types of messages, audiences and value propositions (marketing campaigns)

  3. Document tactics until they stop working: When you find something that works for growing your business, it’s important to document how it works and to invest resources to continue

  • Sean believes that the fastest growing companies are able to build a rhythm and habit of testing to improve their North Star Metric through cross-functional experimentation

Connect with Sean Ellis

You can follow Sean on the following platforms:

Marketing Tool Of The Week : Alexa Marketing Stack

Tool description

Alexa Marketing Stack is a SaaS company owned by Amazon providing a full suite of marketing tools that helps you discover, reach, convert your audience and improve your website’s visibility & performance online.

Let's have a look at the most important features of this marketing suite.

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Features

Alexa Marketing Stack offers solutions in 3 main areas SEO Tools, Audience Analysis & Competitive Analysis.

SEO Tools

  • Competitor Keyword Matrix : Discover Keywords based on your competitors Keywords

  • Competitor backlink Checking: Run a backlink analysis and find out where your competitors are getting links from.

  • Analyze keyword difficulty : Save time prioritizing keywords your site can rank for.

  • SEO Audit : Technical SEO audit and get a clear plan to fix the issues. It will help you with monitoring your progress, where you have tackled the SEO issues, and where you need to put more effort.

Audience Analysis Tool

  • Audience interests: Discover what sites they visit, which categories of sites they're interested in, and what content they consume.

  • Audience Overlap: Find sites that share a similar audience with you business.

Competitive Analysis Tools

  • Content Exploration: Easily identify popular topics and for your site

  • Site Overview: Analyze your site's performance over time. It includes multiple metrics like engagement metrics, upstream/downstream sites, audience geography, etc.

  • Site Comparisons: Compare your site against up to 10 sites at a time.

Pricing

Here’s a breakdown of the 2 main plans Alexa's Marketing Stack offers

Advanced plan: Targets Individuals, cost $149 USD per month and offers a 14 days trial period - It can only be used by one user & one site.

Agency plan: Targets Businesses, cost $299 USD per month and offers a 30 days trial - 20 users, 35 sites, and 35 projects

Audience

Alexa is popular among marketers, small business and content creators publishers as it offers a good range of tools that supports the multiple areas of the marketing and content creation process. I highly recommend the set of tools they offer around Audience Analysis as it helps you quickly identify behavioral patterns of audiences similar to yours that you can easily attract.

Alternatives

Here are a few alternatives to Alexa Marketing Stack,

  • SimilarWeb: It generates an estimate of website traffic, identifies growth prospects, and discover valuable insights about your competitors. It is easier to set up, and but more expensive than Alexa.

  • SEMrush: An online visibility and content marketing tool that offers similar features than Alexa

  • Ahrefs: An SEO and content research tool that offers similar functionality from an SEO perspective but do not has the same capabilities in terms of audience analysis and data visualization

We want to give a SPECIAL SHOUT-OUT to our paid Subscribers for helping to make this episode possible 🙏

Jono Robertson

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]]>Marketing Automation ProcessEpisode III - Martech StackNicolas VargasMon, 18 May 2020 14:00:43 +0000https://www.marketingconcepts.co/episodes/martech-stack5e608767e0f57c3a59ab5199:5eab6123db2c571335f2afba:5ec127ec57dcf4405a51dd9fMarketing Concept of the Week:

Martech Stack

A marketing technology stack is a set of technologies businesses use to build relationships with users at different stages of their customer journey (CMS, CRM, Web Analytics, Advertising Platforms, etc.)

Business use martech stack to stay top of mind & maintain a competitive advantage, marketers must rely only on technological solutions that provide some sort of value to their users.

Building a Martech Stack That Delivers Results

A successful marketing technology stack hinges on multiple moving parts working in concert with one another. Here’s a simple framework you can use to build your own Martech Stack.


Further Readings

How To Design A Martech Stack

The ultimate marketing technology stack for 2020

Remarkable Marketer of the Week:

Ryan Bonnici

Ryan Bonnici is the CMO at G2. He has extensive experience in B2B, B2C marketing and developing marketing teams. He is focused on business growth and a strong positive return on investment. He was the 41st Most Influential CMO in the World in 2019 according to Forbes.

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Remarkable Ideas

Let's take a look at Ryan most interesting ideas:

Don't Dread the 1-Star Review ,Capitalize on It

  • Bad reviews reflect reality

  • A poor review can help you discover the reasons that caused your customer dissatisfaction and have a better understanding of your audience needs.

  • Bad reviews are good for your business has long as you handle the issue and turn the unsatisfied customer into a satisfied one.

Understanding Your Style As You Develop Leadership Skills

  • Ryan thinks, it is crucial to develop leadership skills that can advantage you and your company in several situations.

  • Every one of us will develop a leadership style based on our personality traits.

  • He recommends Kurt Lewin leadership framework, in which there are 3 types of leaders:

    Autocratic - this type of leaders make all the decision themselves and don't seek input from colleagues.

    Democratic - this type is the most successful one and implies the fact that the leader will make the final decision only after he solicited feedback from his coworkers.

    Laissez-faire - this leader will give complete freedom to team members in how they do their work and set their objectives.

Selling To Educated Customers

  • Customers are more educated than ever and companies need to do address their audience in a smarter way.

  • Marketers need to articulate and emphasize the value their product provides for users, and not only recap the product's primary functions.

  • You should aim to become a trusted partner that solves problems customers haven’t thought of yet.

Connect with Ryan

You can connect with the author and get more exciting information, extremely useful if you activate in marketing or own a business, on various online platforms such as:

Tool description

  • Hotjar is a Heatmap and Behavior Analytics tool that helps marketers better understand user journeys.

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Features

Hotjar provides numerous exciting features that will help you get in-depth insights about your consumer. Here’s a list of the main features:

  • Heatmaps & Session Recordings : You will be able to see the click, taps, moves, downloads, and scrolling habits on your website.

  • Questionnaires and Incoming feedback: Identify the motivation and desires of your users and provide a better product/web experience

  • Conversion Funnels: Create customized funnels to improve conversion rates identify drop offs

  • Form Analysis: Discover which fields take too long to be filled and improve your form completion rates

  • Surveys: Build custom surveys and get to know your audience. You can target questions to specific visitors in any place on your website, both mobile or desktop version.

Pricing

The pricing of Hotjar depends on the number of collected page views per day, as follows:

  • Free Forever for 2,000 pageviews / day

  • 10,000 pageviews / day, 29 USD/month

  • for 20.000 page views / day, 89 USD/month;

  • for 50.000 page views / day, 189 USD/month;

  • for 120.000 page views / day, 289 USD/month;

  • for 200.000 page views / day, 389 USD/month.

Audience

Marketers and Product Managers looking for a qualitative and quantitative Analytics Solution to improve marketing and/or product roadmaps.

Alternatives

  • Smartlook - is a tool created to record the screens of users on your website. Reviewers of this tool say that it is easier to install than Hotjar, but is also more expensive and slower to reach ROI.

  • Fullstory - digital experience intelligence platform designed for product development, marketing, and customer support. According to reviewers, compared to Hotjar, it has a better at support, but is more expensive.

  • Mouseflow - Replay the full visitor experience to identify pain points, boost conversions, and optimize your site. Compared to Hotjar Mouseflow is more expensive

We want to give a SPECIAL SHOUT-OUT to our paid Subscribers for helping to make this episode possible 🙏

Jono Robertson

]]>Episode III - Martech StackEpisode II - AI & MarketingNicolas VargasMon, 11 May 2020 13:43:34 +0000https://www.marketingconcepts.co/episodes/ai-marketing5e608767e0f57c3a59ab5199:5eab6123db2c571335f2afba:5eb93b24257cac7659557ca4Marketing Concept of the Week:

AI Marketing

Artificial Intelligence is a scientific discipline in charge of developing systems that solve problems like humans AI systems have two main characteristics:

  1. Autonomy: Ai systems should be able to perform tasks without constant guidance by a user.

  2. Adaptivity: AI systems should be able to improve performance by learning from experience.

AI Process for Non-Technical Marketers

AI offers businesses the ability to deeply understand customer attributes, predict their behaviours, and create personalised campaigns that resonate with them, not to mention customer service automation via NLP (Natural Language Processing).

When using Ai in your business, you need to merge marketing and data science, to do so follow this process

Further Readings

AI in Marketing for Startups & Non-technical Marketers

What Makes Artificial Intelligence Marketing so Powerful?


Remarkable Marketer of the Week:

Meghan Keaney Anderson

Meghan Keaney Andersons is the Vice President of Marketing at Hubspot, she is responsible of the company’s audience & sales grow worldwide. Meghan also hosts The Growth Show and was an adjunct professor at Boston University. She has a remarkable career with outstanding results, and achievements.

Let's find out more about some of the most excellent ideas and concepts she developed during his career.

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Remarkable Ideas

Below we will discuss some exciting thoughts that Meghan revealed in various publications.

Decentralized Content: Why writing is moving away from the website

  • Meghan believes that content marketing strategies should change and evolve according to new trends.

  • She thinks that in the last few years, content became decentralized, and the website-based blogs have mustn't be the star of your marketing strategy.

  • Marketers should not try to confine their content only to one place or channel. Let your audience consume your content anywhere they are.

  • Don't be afraid to go where your audience is going, and remember to not try and control this process.

  • Adapt and publish your content on other reliable sources too.

What Do You Do When What You’ve Always Done No Longer Works?

  • Meghan believes that you should follow this process whenever you find yourself or your company in this situation:

  • 1. Build a pothole prevention report - you should check your vulnerabilities thoroughly.

  • 2. Cutaway what is dead - when something is not working, let it go.

  • 3. If you care about it, staff it - When you encounter problems, turn your attention from observing it to solving it;

  • 4. Stay humble - Don't allow yourself to be over self-confident. Stay humble, ask questions, be flexible.

Hubspot’s Meghan Keaney Anderson On Why Every Marketer Should Be An Experimenter

  • Meghan appreciates this trait very much and thinks that is the key to success for anyone.

  • It is also among the characteristics she looks for when she is hiring somebody.

  • She normally observes the candidate's media platforms to see how much experimentation has been done.

Connect with Meghan

Meghan is a remarkable marketer that is worth following, and you can do so on the following platforms:


Marketing Tool Of The Week : MonkeyLearn

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Tool description

  • MonkeyLearn is a Natural Language Processing tool that allows users to perform different types of text analysis with the help of Machine Learning.

  • The main function of the tool is to help you classify and extract data from multiple raw text files such as documents, emails, chats, tweets, webpages, and more.

  • MonkeyLearn allows you to upload Excel or CSV files. Your raw texts may be in the form of emails, reviews, feedback, surveys, and so on.

  • The MonkeyLearn text analysis models will then help convert your texts into tags automatically.

  • You can use tags to gather insights by linking to visualization tools such as Google Data Studio, Tableau or Looker

Features

  • Custom Text Classifiers: These classifiers will help easily differentiate and classify different topics, sentiments, urgency, intent, and more. It’s machine learning tools will help you build and train to classify and automatically tag any type of text.

  • Smart Text Extraction: Like classifiers, it can be built in a matter of seconds so you can recognize specific data in your text. This includes keywords, features, entities, and more. There is no need for manual processing as the data identified will be automatically labeled.

  • Integrations: There are hundreds of applications you can connect to MonkeyLearn that will take your text data analysis to the next level. Some integrations are Zendesk, Service Cloud, Survey Monkey, Google Forms, Google Sheets, Excel, Gmail, and Intercom.

  • Word Cloud Generation: Word clouds will visualize words within your text and you will be able to highlight popular terms depending on prominence and frequency.

Pricing

MonkeyLearn offers three plans:

  • Free: With this plan, you get 300 queries every month, 1 custom model, low API speed, small model size, and low priority support.

  • Team : $299 per month with 10,000 queries per month, 3 custom models, medium API speed, medium model size, and email support

  • Business: Customized price based on your needs and you’ll get your desired number of queries and custom models. You also get high API speed, large model size, and email, chat, and phone support.

Audience

Marketers, Business Owners or Product managers managing significant amounts of unstructured data looking for fast and reliable text analysis to identify meaningful insights from their audience about their product/website or campaign i.e sentiment analysis to identify customers sentiment during a customer support call

Alternatives

Here are a few alternatives to MonkeyLearn,

  • RapidMiner It is an easy-to-use and powerful interface that is utilized for analytic processes.

  • Amazon Comprehend: A Natural Language Processing (NLP) Service using machine learning to find insights and relationships in text.

  • Chattermill, an AI software with automated neutral networks that work best to customer feedback and customer-centric decisions.

We want to give a SPECIAL SHOUT-OUT to our paid Subscribers for helping to make this episode possible 🙏

Jono Robertson

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]]>Episode II - AI & MarketingMarketing Experimentation: A Practical GuideExperimentationNicolas VargasSun, 03 May 2020 18:14:00 +0000https://www.marketingconcepts.co/episodes/marketing-experimentation5e608767e0f57c3a59ab5199:5eab6123db2c571335f2afba:5eab6124db2c571335f2afccWhat is Marketing Experimentation?

Marketing experimentation is a data-driven approach to testing different marketing tactics to identify what works best for your specific audience. By systematically testing variations of your marketing campaigns, you can gain valuable insights and optimise your strategies for maximum impact.
By using marketing experimentation on a regular basis you’ll be able to improve your campaigns and develop new skills as a marketer

“Ditch the Playbook, Write Your Own: Experimentation is the Key to Marketing Mastery”
— MarketingConcepts.co

Marketing Experimentation Process by marketingconcepts.co

Why is Marketing Experimentation Important?

  • Data-Driven Decision Making: Relies on concrete data to inform decisions rather than assumptions.

  • Increased ROI: Identifies high-performing strategies and allocates resources effectively.

  • Competitive Advantage: Stay ahead of the curve by constantly innovating and testing new ideas.

  • Enhanced Customer Understanding: Gain deeper insights into your audience's preferences and behaviours.

Practical Use Cases for Marketers at Different Levels

Beginner Marketers:

  • A/B Testing Email Subject Lines: Experiment with different subject lines to see which ones drive higher open rates. For example, try a subject line that highlights a benefit ("Boost Your Sales in 7 Days") versus a more direct approach ("New Product Alert").

  • Landing Page Optimisation: Test different headline copy, hero images, and call-to-action buttons to improve conversion rates.

  • Social Media Experimentation: Try different posting times, content formats, and engagement tactics to increase follower growth and engagement. For instance, experiment with posting videos versus images on Instagram to see which format performs better.

Intermediate Marketers:

  • Multivariate Testing: Test multiple variables simultaneously to identify the optimal combination of elements (e.g., headline, body copy, and call-to-action). For example, test different headline and image combinations on your landing page to see which combination drives the highest conversion rate.

  • Personalisation Experiments: Tailor your marketing messages to specific segments of your audience based on demographics, behaviour, or preferences. For instance, send personalised email campaigns to different customer segments based on their purchase history.

  • Split Testing: Divide your audience into two or more groups and expose them to different marketing treatments to measure the impact. You could split test different ad creatives on Google Ads to see which one performs better.

Advanced Marketers:

  • Bayesian A/B Testing: Utilise statistical methods to make faster and more accurate decisions with less data.

  • Bandit Algorithms: Optimise your experiments in real-time by continuously allocating more traffic to the winning variations.

  • Machine Learning-Powered Experimentation: Leverage AI to automate the experimentation process and identify the most promising variations.

Key Principles of Marketing Experimentation

  • Define a Clear Hypothesis: Clearly state what you expect to happen as a result of the experiment.

  • Isolate Variables: Test one variable at a time to accurately measure the impact.

  • Set a Sample Size: Ensure you have enough data to draw statistically significant conclusions.

  • Measure Key Metrics: Track relevant metrics, such as conversions, click-through rates, and revenue.

  • Analyse Results: Use data analysis tools to identify patterns and trends.

  • Iterate and Optimise: Continuously refine your strategies based on the results of your experiments.

By embracing a culture of experimentation, you can unlock your full potential as a marketer and drive significant growth for your business.

Remember, the key to successful marketing experimentation is to start small, test often, and learn from your results.

Further Readings

The Bulls Eyes Framework

Good Experiment, Bad Experiment

Designing Marketing Experiments

A marketing experiment is a powerful tool to test hypotheses, measure the impact of marketing strategies, and optimise campaigns. Here's a detailed process to guide marketers of all levels:

Beginner Level

  1. Identify a Problem or Opportunity:

    • Simple Questions: Start with straightforward questions like, "Does changing the call-to-action button colour increase clicks?" or "Does offering a discount code in email subject lines improve open rates?"

  2. Formulate a Hypothesis:

    • Basic Hypothesis: A simple hypothesis could be, "If we change the button colour to red, then click-through rates will increase."

  3. Design a Simple Experiment:

    • A/B Testing: Create two versions of a marketing asset (e.g., email, landing page) with one key difference (e.g., button colour).

    • Random Assignment: Randomly assign users to either version to minimise bias.

  4. Set Up Tracking:

    • Basic Metrics: Use analytics tools to track relevant metrics like clicks, conversions, or open rates.

  5. Run the Experiment:

    • Short Duration: Start with shorter experiments to gather quick insights.

  6. Analyse Results:

    • Simple Comparison: Compare the performance of the two versions using basic statistical analysis or A/B testing tools.

Intermediate Level

  1. Identify a Clear Objective:

    • Specific Goals: Define specific goals like increasing sales, improving customer retention, or boosting brand awareness.

  2. Formulate a Testable Hypothesis:

    • Clear and Measurable: Frame hypotheses in a way that can be tested, such as, "If we personalise email subject lines, then open rates will increase by 10%."

  3. Design a Rigorous Experiment:

    • Multiple Variables: Consider testing multiple variables simultaneously (e.g., subject line, email content, and send time).

    • Factorial Design: Use factorial designs to test combinations of variables and identify interactions.

  4. Implement Tracking:

    • Advanced Metrics: Track more advanced metrics like customer lifetime value, revenue per user, or engagement rate.

  5. Run the Experiment:

    • Longer Duration: Run experiments for a longer period to capture long-term effects.

  6. Analyse Results:

    • Statistical Analysis: Use statistical tests like t-tests or ANOVA to analyse the significance of results.

    • Data Visualisation: Create visualisations to communicate insights effectively.

Advanced Level

  1. Develop a Comprehensive Experiment Plan:

    • Detailed Protocol: Create a detailed experimental protocol outlining the hypothesis, design, data collection, and analysis plan.

  2. Consider Experimental Design:

    • Complex Designs: Use advanced designs like randomised block designs or split-plot designs to control for confounding variables.

  3. Implement Robust Tracking:

    • Custom Metrics: Develop custom metrics to measure specific outcomes relevant to your business objectives.

  4. Run the Experiment:

    • Ethical Considerations: Ensure experiments are conducted ethically and comply with data privacy regulations.

  5. Analyse Results:

    • Advanced Statistical Modelling: Use advanced statistical models like regression analysis or machine learning to uncover deeper insights.

    • Causal Inference: Employ causal inference techniques to draw stronger causal conclusions.

Remarkable Marketer of the Week:

Shane Murphy-Reuter

Shane Murphy-Reuter has vast experience in the marketing industry and his exemplary roles in both B2B at ADRoll, and B2C in online gaming speaks volumes. Today, he is the Senior Vice President (SVP) of marketing at Intercom (One of the biggest SaaS Companies in the world)

Remarkable Ideas

Shane Murphy-Reuter has been embracing impeccable concepts to help businesses grow, and they include:

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Brand Alignment

  • Every company has to have a clear value proposition that works well with its brand, audience and products.

  • He uses this concept to help companies get their alignment right and stand an edge above their competitors. For instance, the message the company is passing across should be clear and consistent enough to build trust.

  • Shane asserts that it is the incredible real human connections at Intercom that pushed him to join the company. The company's clear focus on its core products and things like its logo makes it stand out.

Two Approaches to Marketing Messaging

  • Most marketers struggle with building effective marketing messages as they don’t focus on their product functions or what the products actually do.

  • He uses an approach where marketers focus their messaging on the impact of their products. In essence, customers will repay with loyalty if they are satisfied with the products at their disposal.

  • Shane also recommends marketers to grasp the key insights that make their brands and businesses grow. For instance, they need to develop a campaign concept and be able to communicate their emotional and functional brand positioning. The campaign they embark on should bring the ideas they embrace to life.

    Consistent Messaging & Clear Differentiation

  • For Shane the idea of consistency in messaging is imperative to all marketers and the growth of a business. He advises marketers to have a clear differentiation that will help their businesses stand out in a crowded market.

  • Through consistent messaging, marketers should communicate the same message and with clarity. Your target audience or employees should understand the same message.

  • By being different you will be able to spend more to attract more customers and add new products your competitors can't offer. With a clear differentiation, you will subtract something and push your business to a higher rank. You can also speed up your offers and even raise your prices to rank at the top in a competitive market.

Connect with Shane Murphy-Reuter

To learn more about marketing, the concepts to embrace and how to stand out in a crowded market, it's easy and convenient to connect with Shane on his website, Twitter or LinkedIn.


Marketing Tool Of The Week : Heap.io

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Tool description

  • Heap.io is a product analytics platform that help you track and use your audience behavioral data for product development and optimization.

  • It allows you to can retroactively name and manage user interactions/event without coding.

Heap.io - Overview Dashboard

  • It provides meaningful insights about the way people interact with your products, which helps you improve your acquisition & retention efforts, by creating a secure product experience.

  • Heap.io provides a unique approach by storing all user's interactions and analyzing them fast. The data is real-time, meaning that your reports are accurate and timely.

  • Heap has an easy interface, being easy to assemble queries and reports of all kinds. You will be able to access a complete dataset of user behavior.


Features

Let's take a closer look at the main features and benefits of this tool:

  • Capture all user data - it automatically captures all user data, including every click, swipe, tap, pageview, and fill. You will have access to all this without having engineers write elaborated codes. This data will provide you useful insight about your visitor journey on your website, finding out the strengths and weaknesses of the user experience.

  • Virtual events - you can manage your product data, by retroactively name and manage customer interactions. You can apply multiple labels to raw data without compromising it. This possibility gives you flexibility while keeping your dataset and your analyses clean and trustworthy. Virtualization is a smarter approach to analytics.

Heap.io - Retention Dashboard “Easily Create Retention Reports Curves”

  • Data governance - your data is safe and controlled with Heap Analytics. It provides for you reliable data with full control for viewing, modifying, and reporting. You can also keep your account clean and organized with categorized events, segments, reports, etc.. You can easily control who has access to your data, making sure that information is protected. Also, you can keep a current dataset, with the help of useful tools such as event page views, version control, and verification.

  • Security and compliance - this tool takes security very seriously, and you want this for your analytics provider. They invest in security technology, certifications, and personal training. Your data is safe and secure while you are using Heat Analytics, and this is a highly important feature.

Pricing

Heap Analytics has three pricing categories, as follows:

  • Free - for small businesses and side projects;

  • Growth - available for start-ups with under 20 employees;

  • Enterprise - for companies that rely on customer data and behavioral analytics.

You can contact them, depending on the business you run and get the exact price.

Heap.io - Pricing Page


Audience

We recommend Heap analytic for Marketers & Product Managers willing to have a better understanding of their product and websites retention and activation curves. It is a useful tool that provides deep insight into consumer behavior.

Alternatives

Here are some alternative to Heap Analytics,

  • Pendo - Similar Functionality Complex on-boarding process. According to G2 reviewers, in comparison with Heap.io, is slower to reach ROI, but easier to do business with and has a better support.

  • Mixpanel - Similar outcome but a bit more complex in terms of event capturing and management. According to G2 reviewers, is slower to reach ROI and more expensive.

  • Amplitude Analytics - Similar Functionality and Outcomes. G2 Reviewers think Amplitude is more usable and has a better at support

 

We want to give a SPECIAL SHOUT-OUT to our paid Subscribers for helping to make this episode possible 🙏

Jono Robertson

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]]>Marketing Experimentation: A Practical Guide