Marketing research you’re leaving behind

You’re paying for enormous amounts of research you’re not using.

I can make this bold statement because I’m guilty of it, too. I’ve paid large sums of my own money for research I didn’t use as well as I could have. What is this research? I’m speaking of paid advertising.

Right now, I’m in the middle of marketing my new book. I’m running Facebook and Twitter ads to capture attention and build interest. To advertise, I have to write copy and select images to create the ads. Most marketers write up the ads, turn them on, and walk away. After the campaign is over, you shelve the ads and move onto the next campaign. What a waste!

You’ve just paid money for research. You’ve just paid money to find out what words, phrases, and images resonate with your audience:

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What should I pay attention to? Clickthrough rate tells me what’s working best with my audience. Above, the photo of me gets a higher clickthrough rate. There are ads not shown that have the same text but a different image. Those ads are performing half as well as the ones with me in them. The ads beginning with copy about marketing – a noun – are doing slightly better than the ads starting with a verb. I can see the beginnings of a trend here. In a week, the statistical validity of these ads should firm up and I’ll be able to develop writing strategies from them.

So how do you make use of the research you’re collecting?

First, establish statistical significance. I recommend Rags Srinivasan’s excellent Excel template to run the test.

  • Punch in your impressions in the first row for any two ads.
  • Input your clicks or conversions in the second row.
  • The calculator will tell you whether the result is statistically significant.

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Second, after you’ve established statistical significance, incorporate the results in other forms of media. Assume the above results were statistically significant. There is a pattern in which ads leading with nouns about marketing trumped ads leading with verbs. I have two choices for a blog post title: “Marketing research you’re leaving behind” and “Use the marketing research you’ve paid for”. Based on the research I’ve paid for already, I’d choose the former.

Third, look at your web analytics over time to see if blog posts you’ve written using prepaid research perform better than average. If they do, then you’ve increased the indirect ROI of your ads. Even if your ads didn’t generate great performance, you’ll have repurposed your findings to improve other parts of your marketing strategy. That’s a win!

Make the most of every dollar you spend on your marketing and advertising. You’ve already paid for the research — use it!


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Free yourself from marketing data prison

Stuck.

That’s the most common thing I’ve heard from marketers like you when it comes to making use of your data. You get stuck when you try to analyze your data. You get stuck when you look for insights. You get stuck trying to create a coherent strategy from your analysis.

The worst stuck is when your boss asks you for an answer that you don’t have.

I wrote Marketing Blue Belt to help get you unstuck. If you follow the steps and the framework in the book, you’ll have a roadmap for freeing yourself from a prison of data and analytics.

Marketing Blue Belt Cover

You’ll learn a comprehensive framework with many examples, how-to guides, and ideas to make your data work for you. You’ll elevate your understanding of what good data is, how to analyze it, and how to turn your insights into working strategies. You can put the framework to use no matter what size or kind of business you are, from a kid’s lemonade stand to a Fortune 500 company.

Grab your copy today, dig in, and find your way out of the maze that your data has forced you in.

Here’s to getting unstuck!


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Measure your video content marketing with monetization!

The era of eyeballs alone is slowly coming to a close as more marketers demand tangible results from their efforts. One of the easiest ways to prove the quality of your marketing is to fulfill Jay Baer’s Youtility statement: marketing so good, people would pay for it.

While you may or may not be able to sell your content directly, you can put it up for bid in advertising systems as a proxy for people paying for it. The channel most overlooked for monetization these days is YouTube. That’s unfortunate, since it’s so easy to do. Let’s explore the basic steps.

First, you need to have a channel on YouTube. This is now enabled by default when you set up your YouTube account. The first place you’ll go is the video manager, under YouTube.com/features. From here, find your channel menu [1]:

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After you’ve found your channel, choose Status and Features. You’ll need to resolve any outstanding issues with your YouTube account, such as verification or copyright compliance [2].

Let’s assume that you’re good to go and your account is valid. Click the Monetization Enable button [3] and YouTube will give you the option to monetize your videos with a variety of different ads:

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The first option puts a lower-third ad in your videos. Bear in mind that a lower-third ad can obscure things like subtitles or your own graphics in videos, so take that into consideration. The second option puts one of those 5-second skippable ads in front of your video. It’s more annoying to the average user (who wants to see the video) but it doesn’t alter the way your content appears. Choose the option that makes the most sense for your video content.

Finally, you’ll be asked to associate your YouTube account with a Google AdSense account (or set one up if you don’t have one):

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Assuming everything worked, the next time you look in your video manager, you’ll see the $ sign appear next to eligible videos. Note that videos which are unlisted or private will be ineligible for ads:

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This is the acid test of whether your video content is appealing or not. If your videos and ads get no views and earn no money, then your content game might need improving. If your content marketing videos are so popular that they generate revenue on their own, then your content game is strong.

Will you make a ton of money? Probably not. At best, you’re likely to make beer money for most of your videos. However, what money you do earn is secondary to the proof that if your content is good enough, people will pay for it one way or another.


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