Brain Driven Brands
Wait, Are We Really Wasting 50% of Our Ad Budget Every Month?
Sep 3, 2024
Nate Lagos, founder of the innovative watch brand Original Grain and host of the Tactical and Practical podcast, challenges the notion that 50% of ad budgets are wasted. He and Sarah dive into the complexities of measuring ad effectiveness, urging brands to focus on strategic simplicity. They discuss how small and mid-sized brands can foster emotional connections with customers through quality content and prioritize product improvements. Ultimately, they explore the importance of understanding market realities to enhance marketing impact.
20:50
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Quick takeaways
- Reevaluating the definition of wasted ad spend is crucial, as not every ad needs immediate conversion to provide valuable insights.
- Brands should focus on improving content quality and optimizing a smaller number of ads rather than producing high volumes of ineffective content.
Deep dives
Debating Ad Spend Efficiency
The discussion focuses on the substantial amount of advertising budgets that are perceived to be wasted, with claims that up to 50% may not yield returns. The speakers challenge this idea by questioning the definition of wasted spending and stressing the distinction between merely making impressions versus achieving meaningful conversions. Instead of simply viewing ads as a binary of success or failure, they argue for a more nuanced understanding of ad performance that considers the broader consumer behavior and market dynamics. This highlights the need for brands to reassess their advertising strategies and recognize that not every ad needs to convert immediately to provide valuable insights.
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