I’ll let We Are Social say it best:
Including stats for more than 240 countries around the world, and profiling 30 of the world’s biggest economies in detail, this report is the most comprehensive, free compendium of up-to-date digital statistics and data you’ll find.
Regardless of what industry you’re in, this is a must read. Especially a look at the mobile data as it shapes the next few years.
Performance marketing (paid search, display and paid social) is a challenging and interesting space with heavy industry jargon. Similar to customer vs consumer, the latter being a person who buys a product in your category/vertical but doesn’t buy from your company, like a customer would.
I see many people mix up and use the terms user acquisition & demand generation interchangeably. I don’t feel they mean the same thing.
So what is the key difference between the two terms?
Like customers, these people already use your product or service. They could be new or long-term users, but they buy from you none the less. Your job is to up/cross sell other products from your company and create a long-term customer for your brand.
Similar to consumer, these people don’t buy from you. They might buy from you competitor or more likely. You’ve to show these people why they need your product, especially if you’re creating a whole new category for your industry. This is what the iPod, tablets, Dropbox and even the selfie stick have all done. There was no (or very little) demand for this product before and in a few short years (9 for the selfie stick) you’ve people who can’t live without these product.
What do you think… am I off base about user acquisition & demand generation?
I don’t know. No one does. 2015 for me will be about making not talking. I don’t want to tip my hand, but it’s going to be delish.
If you’re looking for inspiration. Huge Inc has a great look ahead and what they didn’t like about 2014. Google has their 2014 trends. Both are a treasure trove of ideas if you’re looking to get your hands dirty and make something in 2015.
While traveling around Asia from October until 9th December, I launched a blog post series on how to create a profitable paid search campaign. I picked this topic because after being in this industry for 10 years and working across North America, Australia and Europe, it’s still the basics (to intermediate) items I see a lot of people get wrong. Plus talking to my Google CSRs, seems to be their issue to.
If you’re reading beyond this paragraph then please make sure you’ve the following done already:
- Review account structure and that you’re using negative keywords ruthlessly
- Is your AdWords account and Google Analytics (GA) linked?
- Check that your YouTube account, G+ Profile and other analytics package are synced up with GA or your main analytics package. You’ll be surprised how offten this isn’t the case
- Review the account, campaign and adgroup settings on your account(s)
- Make sure all your URLs are live (no 404 page error or broken links)
- Have seasonal stock running? That should be turned off!
- Double check your match type and location targeting
- Don’t mistakenly have display campaigns active do you?
Done? Good, now that we’ve that out of the way. There are many things I look for after a basic campaign has been setup and has started to generate traffic for your industry but below are the quick wins I look for next. You could go beyond these and look at your SKUs & product performance historically, setting up automatic rules, double checking your extensions are running or use shared budgets and master negative lists. However, before I do any of those I make sure I’ve done everything below. Here were the posts in my series:
If you’ve done everything above and want to challenge yourself then look into AdWords scripts. I’ve been playing with them the last couple years while living in London and they are wicked helpful. Takes some knowledge of programming but you can learn all that as you go.
Why Does It Matters
Depending on your business, you may get 80% of your business from urban centres. However, you may not spend that same amount on your marketing in your those markets (could spend more or less). Finding out where you get your business from and what you spend to acquire that customer is a key determination of your success.
A similar example of this idea is a story I heard a few years ago about major bank who found out that 10% of their customers where producing 70% of the calls to their call centre (and thus were greatly unprofitable for them). After months of doing the research and double checking their number, they sent those customers a letter saying they couldn’t be a customer anymore and would happily help them transfer to a new bank. This allowed the bank to refocus on up selling and creating better services to their profitable customers.
Business is as much about making your company more money as it is about finding ways to cut down on your expenses and focus on your profitable areas of the business.
How To Do It
If you login your Google Analytics and head to the “Channel” subsection under “Acquisition” on the left hand panel. You’ll see all the different marketing channels that are driving your business forward.
You’ll want to make sure you select your main goal in the “Conversions” drop down that sits under the search box on the far right of your screen. This would be the goal that you consider a success; could be a whitepaper download or a new customer signed up for your business.
To the left of the search box/conversions option, you’ll see a drop down called “Second Dimension”, which you can then use to search for “City” in the list and click on that option. You’ll be presented with a list of cities that has users completing your goal you selected above. Depending on your country, this city list can break out suburbs for some areas and not for other but it’ll at least give you an idea of what areas are worth focusing your effects on.
Go to the top of your screen and click on “Export” and then CSV and download this list. You’ll need to do the above for each goal you’ve. Once you know how many goals each city is starting to bring in, you can add in your cost of marketing for each city and identify cities that might not be as profitable to market in as you originally thought.
This is a great way to save money by cutting down your costs while allowing you to reinvest that money into more profitable areas of the business or attempting new marketing initiatives that you might have had money for in the previous year or quarter.