#7 - Tim Doyle (Founder @ Eucalyptus & ex Head Of Marketing @ Koala)
Sep 18, 2019
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Tim Doyle, former Head of Marketing at Koala and founder at Eucalyptus, talks about e-commerce challenges, including display advertising, including marketers in profit and loss conversations, changes in Facebook's features, the importance of email marketing, and the impact of discounts on customer behavior.
Allocating resources across different channels to find the next cheapest customer is crucial for unlocking growth.
Recognize the biased views of primary platforms and focus on understanding channel-specific performance.
The blending of brand and performance marketing requires generalist teams and leveraging creative elements for optimization.
Deep dives
The importance of cross-channel resource allocation
One key insight from the podcast episode is the importance of allocating resources across different channels to find the next cheapest customer. This involves testing new channels, even if they may not be part of the mature channel mix yet, in order to tap into new audiences and unlock potential growth. It's crucial to take a cross-metric view of channel performance and assess the impact on full-funnel goals like transactions, brand awareness, and consideration. The goal is to find a balance between allocating resources efficiently and continuously testing new channels for opportunities.
The challenges and strategies of effective attribution
Attribution is a complex and ever-evolving topic, with primary platforms like Google and Facebook having their own biased views on attribution. It's essential to understand that they may present metrics in ways that favor their respective platforms. By recognizing this, marketers can focus on understanding channel-specific performance and improving within each channel's environment. This requires a rigorous testing framework to assess channel effectiveness and the ability to monitor the overall health of the marketing engine. Additionally, aligning the marketing view with the P&L view of the business allows for strategic resource allocation and decision-making.
The shift towards integrated brand and performance marketing
The distinction between brand and performance marketing is becoming less relevant as integrated marketing teams emerge. Traditional roles like brand managers may be redefined, giving way to a new approach that involves resource allocation across channels and goals. Combining the analytical mindset of performance marketers with the storytelling abilities of creatives allows for a more holistic and effective marketing approach. It's crucial to recognize the blending of environments and apply performance-focused strategies to upper-funnel awareness channels, while also leveraging creative and brand elements to optimize performance platforms. Generalist teams that understand both brand and performance are becoming increasingly valuable in the marketing landscape.
Evaluating Radio as a Media Channel
Radio was evaluated based on three elements: cost of the audience, value of the audience to the brand, and creative differentiation. By analyzing the cost of radio spots and the inventory available, the team realized they could develop a feedback loop that allowed them to optimize and shop for value better than the radio stations. The engaged, slightly older audience and the trust associated with offline media made radio a valuable channel for their brand. By applying their digital principles to create standout ads in a channel known for formulaic content, they were able to achieve great results.
Emerging Channels and Testing Assumptions
When exploring emerging channels like Pinterest, Quora, Reddit, and TikTok, it is essential to approach them with an open mind and test assumptions. Understanding the unique opportunities and weaknesses of these channels and how they align with your brand is crucial. Building a measurement infrastructure, leveraging storytelling, and constantly adapting to new trends are key to successfully integrating emerging channels into your marketing strategy. Marketers should be willing to embrace discomfort and stay up to date with new channels to ensure they don't miss out on potential opportunities.