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The conversation highlights the need for brands to understand the true impact of their efforts, while also advocating for skepticism in marketing measurement.We also have valuable tips on optimizing channels through testing and relying on a brilliant team for successful scaling.
In this episode, Jordan West interviews Michael Kaminsky who shares his insights on measuring incrementality in branded search spending, conducting geo holdout tests, and the importance of building a testing muscle to inform marketing strategies.
Listen and learn in this episode!
Key Takeaways from this episode
- Post checkout surveys provide directional indication, but are not a definitive measure of incrementality.
- Going dark tests, where advertising spend is temporarily turned off, can be used to measure incrementality.
- Decreasing ad spend by a certain percentage for a period of time can also provide insights into incrementality.
- Branded search spending and its incrementality are difficult to determine, but tests and experiments can help measure effectiveness.
- Running geo holdout tests, by turning off branded search spend in certain areas, can help determine the impact on sales.
- Analyzing data and learning from unexpected experiments or outcomes is crucial for understanding marketing effectiveness.
- Advanced statistical techniques, like marketing mix modeling, can be used to measure the impact of marketing spend on different channels.
- Understanding the ROI and conversions from selling on channels like Amazon is important for data analysis and decision-making.
- Attribution and incrementality are different concepts in D2C e-commerce marketing, with incrementality focusing on additional revenue and ROI.
- Continuous testing, evidence gathering, and triangulating data from different sources are key to understanding incrementality and scaling a business.
Recommended Podcast:
Acquired:
https://www.acquired.fm/episodes
Lenny’s Podcast:
https://www.lennyspodcast.com/episodes/
Recommended Tool:
Things 3:
https://culturedcode.com
Today’s Guest:
Michael Kaminsky is the co-founder of Recast. He is a trained econometrician with a background in healthcare and environmental economics. He previously built the marketing science team at men’s grooming brand Harry’s before co-founding Recast.
Connect and learn more about Michael and Recast here:
Website: http://www.getrecast.com
LinkedIn: https://www.linkedin.com/in/michael-the-data-guy-kaminsky
Twitter: https://twitter.com/Mike_Kaminsky
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Secrets To Scaling Your Ecommerce Brand