148: Building an Efficient Paid Program (w/ Blake Strozyk, Bull Media)
Aug 30, 2023
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Blake Strozyk, an expert in building efficient paid ad programs for businesses, shares a 3-step framework for testing and scaling paid programs. Topics include foundational elements to consider, importance of channels working together, targeted messaging, experimentation, defining success, transitioning from stage two to three, and building foundational pieces before paid advertising.
Stage one involves understanding your company's fundamentals to shape your paid ad approach.
Stage two focuses on testing different channels, messaging, and content types to establish early signals of success.
Stage three is about scaling up your successful paid advertising program by expanding creative, optimizing, and maximizing channel performance.
Deep dives
Stage 1: Establishing Fundamentals
In stage one, it is crucial to understand the fundamentals of your company that will shape your paid advertising approach. This includes factors such as your target market size, ideal customer profile, unit economics, company maturity, category maturity, and your go-to-market motion.
Stage 2: Going from Zero to One
Stage two involves creating hypotheses and running experiments to go from zero to one in your paid advertising program. This includes testing different channels, messaging, content types, and offers to identify what works and what doesn't. The focus is on establishing early signals of success, whether it's in the form of closed deals, demo requests, or increasing effectiveness in outbound activities.
Stage 3: Going from One to 100
Once you have proven that your paid advertising program can generate results, it's time to scale it up in stage three. This entails expanding your creative and audience on social media platforms, becoming more efficient or expanding keywords in search campaigns, and continually optimizing and experimenting to maximize the channel's performance. The goal is to achieve consistent pipeline generation at an acceptable cost and continue to build new programs on top of your existing framework.
Importance of Inbound and Foundational Programs
Before implementing paid advertising, it is important to have some inbound traffic and one or two other channels that are generating results. This ensures that foundational components such as proper positioning, messaging, and customer insights are in place before investing in paid advertising. Skipping this step can lead to inefficiencies and high costs in paid advertising campaigns.
Blake Strazek and Bull Media
To learn more about working with Blake Strazek and Bull Media in driving efficient paid advertising programs, visit bullmedia.io or connect with Blake on LinkedIn.