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No specific tactic works forever. There is no "1 weird trick." You need to set up your advertising and sales funnels to track as prospects become customers, and
by jyu 7y ago
No specific tactic works forever. There is no "1 weird trick." You need to set up your advertising and sales funnels to track as prospects become customers, and continually experiment on the message and the channels. This is where most startups start and a lot of them get it wrong. If you have boatloads of VC money, you can run a lot of bad experiments until you hopefully hit paydirt. Paydirt is +ROI ad campaigns on a large targeted demographic. Then you treat this audience like a goldmine. At first it's easy to mine and pick up gold nuggets in river beds. As the easy pickings disappear, you'll find yourself investing in increasingly more expensive machinery and infrastructure to continue mining operations. As you've extracted most the gold, look for byproduct like copper, silver, etc (in startup terms, introduce ancillary products and services). As you hit one gold mine, keep prospecting other areas (distribution channels like display ads, native ads, social media, etc).
If you end up a multi billion dollar unicorn with tens of millions in ad budget, targeted direct ads no longer move the needle like they did when you were a startup. Now for the Director of Marketing to justify increasingly larger compensation, he needs to increase his ad spend and starts whispering about spending money on ads that have no direct correlation to the bottom line. This is called brand advertising. Hint: If an early stage startup spends more budget on brand advertising than direct marketing, run.
Effective advertising is matching the product/service with some problem, on a specific channel of eyeballs, with a specific message. There are tons of new channels popping up every few years (think google, facebook, instagram, youtube, twitch, pinterest, wechat, stackexchange, hn, reddit, etc). There are millions of permutations but you have a finite ad budget. The magic is deciding how to show what to who.
- antpls 7y agoFor the "how" and the "what", in the future, I bet ads platforms will ask you to write an long essay about what you sell, and they will automatically generate many different ads with GPT-2 (probably in real-time, to mix some content of whatever the viewer is browsing at the same time), and everything will be automatically A/B tested, segmented, adjusted, etc with reinforcement learning. Even better, no need to write an essay about your services or products, Google already know everything about it by scraping your website, so just point to the URL, and done
- nkkollaw 7y agoSo, there are no techniques that work consistently.
- edmundsauto 7y agoCorrect, because everything is dynamic, including the search terms, eyeballs, and competition for keywords. It's pretty simple economics - once I find a way to spend $50 to make $100, it's only a matter of time before other people discover something close enough to make me spend $75 to earn $100. Then $90. Then (conjecture), winners curse takes account and people are spending $110 to make $100 (once Neil Patel's audience hears about it). With the tactics being gobbled up by the Red Queen effect, you have to move to strategies to win. The OP writes about a pretty good one.
- iagovar 7y agoSo... using voluum?