How to Target ACTUAL Cold Traffic on Meta (Hint: It’s Not Exclusions)
Oct 1, 2024
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In this engaging discussion, Scott Desgrosseilliers, a marketing performance expert, shares his insights on effective funnel strategies and optimizing campaigns. He addresses the challenges of audience segmentation on Meta, emphasizing the importance of targeting new customers. The conversation dives into key metrics, and the impact of delayed conversions, and highlights the need for tailored strategies as we gear up for Black Friday. Listeners will also learn how to unlock customer lifetime value to enhance their marketing efforts.
Focusing on new customer acquisition is crucial, as over-reliance on repeat visits can hinder effective scaling of traffic.
Understanding metrics like CAC and LTV enables businesses to align their marketing strategies for sustainable growth and improved campaign efficiency.
Deep dives
Exclusive Offers for Perpetual Traffic Listeners
Listeners are informed of an exclusive promotion from Wicked Reports, a third-party attribution software, which includes a $100 discount on the first month and a complimentary consulting call with a data scientist. This consulting call, valued at $1,000, is intended to help users navigate their onboarding process and improve their use of the platform's features. The podcast emphasizes the unique value of these offers, highlighting the significant benefit of personalized guidance that accompanies the onboarding. This initial support aims to enhance the user experience and effectiveness of the software for businesses aiming to increase their marketing performance.
Importance of New Customer Acquisition Metrics
The discussion highlights the significance of metrics such as effective cost per new site visit and new customer acquisition cost, essential for businesses aiming to enhance their customer lifetime value and overall growth. An analysis of 3,300 campaigns revealed that a typical percentage of new visits remained around 18%, emphasizing the challenge of scaling new customer acquisitions, particularly on platforms like Meta where warm traffic tends to dominate. The findings suggest that a better understanding of campaign performance can lead to improved strategies for attracting fresh eyes to the business. This focused approach to new customer metrics is crucial, as businesses need to avoid over-reliance on repeat visits for scaling effectively.
Meta's Advertising Constraints on New Audiences
The podcast explores how Meta's advertising platform often prioritizes audience familiarity over new customer engagement, impacting the effectiveness of campaigns designed to attract new visitors. Advertisers must carefully select campaign objectives that do not automatically enable Advantage audiences, which limit outreach to new traffic. It’s noted that many businesses struggle with audience exclusions and campaign settings, leading to unintended targeting of past customers instead of new potential customers. The conversation suggests that advertisers implement a two-step strategy to effectively broaden their reach while ensuring that their advertisements reach genuinely new prospects.
Misconceptions About Advertising Metrics
The podcast addresses common misconceptions around advertising metrics, particularly the assumption that high return on ad spend (ROAS) figures directly correlate with successful customer acquisition. Experts recommend separating new customer metrics from overall performance metrics to get a clearer picture of campaign efficiency. The need to adapt expectations based on varying lifetime customer value (LTV) and customer acquisition costs (CAC) is emphasized, particularly in industries where long-term subscription models are in place. By understanding these dynamics, businesses can better align their marketing strategies to achieve sustainable growth while effectively managing budgetary constraints.
Ralph and Lauren talk about the challenges of Meta’s audience segmentation and how to drive better results by focusing on new customer acquisition. Joined by Scott Desgrosseilliers, they break down key marketing performance indicators and share strategies for building effective funnels, analyzing traffic, and optimizing campaigns. With insights into attribution, trends, and preparing for Black Friday, this episode provides practical tips for scaling traffic and improving return on ad spend. Plus, listeners get an exclusive offer from Wicked Reports to take their marketing to the next level.
Chapters
00:00:00 - Unlock $1,000 in Value with Wicked Reports
00:01:00 - Welcome to Perpetual Traffic from Boston and Portugal
00:02:27 - Scott Desgrosseilliers Breaks Down Marketing Metrics Magic
00:07:02 - Meta’s Audience Segmentation: A Double-Edged Sword?
00:12:26 - Building a Winning Funnel Block by Block
00:18:47 - How Meta’s AI May Be Limiting Your Campaign Reach and What You Can Do About It
00:25:04 - Traffic Columns: What You Need to See for Growth
00:26:43 - Attribution Woes: Are Your Numbers Lying?
00:27:29 - Current Trends and Cost Insights You Can't Ignore
00:28:24 - The Power of New vs. Repeat Customers in Scaling
00:30:50 - Delayed Conversions: Hidden Value in Your Data
00:32:44 - Optimizing Your Strategy for Fresh Traffic and Sales
00:36:26 - CAC to LTV: Unlocking the Growth Formula
00:38:30 - Getting Ready for Black Friday: What You Must Know
00:40:25 - Wicked Reports' $1,000 Offer to Accelerate Your Success
Connect with Lauren on Instagram and Connect with Ralph on LinkedIn
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