If you associate data marketing with niggly headaches and spreadsheet-eyes, then you’re in for a nice business-boosting surprise.
This episode you're going to learn how you can use data to save your business a ton of money and get more converting traffic to your website.
Here to spill the beans is Nathan Hague, who we like to think of as the ‘Guru of Data Driven Marketing’.
Think we’re exaggerating? Would we ever, in a gazillion years do that?
Well maybe just a little bit, every now and then!
Make sure you turn the volume up on this one because you are not going to want to miss the advice Nathan gives on how to blow up your Facebook Ads…
- Churn Rate – You might have a ton of customers but it's just not going to work if you're loosing too many of them. Your customers are important to you so you should be looking at why they might be leaving and do whatever you can to address it, even the small things can make a big difference to churn.
- Average Revenue Per Customer – It's pretty easy to figure out what your average customer spend is and once you can measure it, you can manage it. Then you can start looking at how you can lift up that average spend with cross-selling, up-selling etc.
- Measuring New Customers – Knowing how many new customers you have coming in and tracking that can make a huge difference.
- The best tools are the ones you're probably already using – reporting systems. It's just about knowing how to get the most nag out of them.
- Google Data Studio is a reporting tool that can connect you to all your different Google properties as well as your Facebook Ads Manager – hell yeah!
- It shows you everything in one neat, tidy place showing you live figures which means you can check your profits and losses any time you like.
- Misleading Numbers – CPC (cost per click) is a big one. Just because you're CPC is higher than you think it should be doesn't mean there's something wrong. If your CPC is £10 but you're making £500 per sale then boom…it's worth it!
*Instead, you should be looking at your CPA (cost per acquisition), how much is it costing you to get those important conversions.*
- Waste of Time Numbers – Social media followers, it doesn't matter if you have a low number of followers or fans as long as the followers you do have are highly engaged. It's less about getting more followers and more about the money you can make from the followers you already have.
It all really depends on how deep your pockets are and how big your budget is. This is the ultimate ‘bang for buck' stack:
If you can hook all of those together correctly (maybe get a grown up to do it for you), then magic will happen.
- The first step is to enlist someone who knows what they're doing to set everything up for you. It can get hella' confusing!
- The next step is to use Google Analytics data to find the specific demographic of people who are visiting your site, what time they visit and what pages they visit.
- Then you can use that data to fine-tune your targeting through Facebook Ads. If you know that most of your traffic is a certain age group, location, gender or even using a particular device then you'd be bonkers to target anyone else!
- Data lets you target your real-life perfect audience and make a ton of money along the way!
A book that you would recommend…
I haven't read anything since Harry Potter.
What is your top success habit?
Consistency is key and trying not to give a shit about what other people think.
Who do you look up to?
How do you define success?
If you can hold your head up high, buy what you want when you want and are judged well by your peers.
Here the big one…who do you like more, Rob or Kennedy?
I don't know who they are. (Very funny Nate!)