In episode #2685, Eric Siu, Neil Patel, Ralph Burns, and Kasim Aslam discuss the latest trends and changes in the world of paid advertising. The conversation delves into the need for marketers to take a full-funnel approach and invest in impression-based ad channels to drive long-term growth.
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Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT)
Connect with Kasim on Twitter and Connect with Ralph on LinkedIn
TIME-STAMPED SHOW NOTES:
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(00:00) Today’s topic: What's Changing in Paid, Brandformance vs Performance Marketing, It's Impossible to Track the Customer Cycle & more
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(00:14) Brands are shifting from performance marketing to brand marketing.
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(01:39) Shifting conversion-based ads to consideration and awareness campaigns.
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(03:29) Creating brand and conversion audiences for better results.
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(04:48) Strategy works well for mid-sized brands, not for smaller or enterprise brands.
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(06:43) Attribution in digital marketing is unreliable and lacks data.
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(08:28) Agencies often provide misleading data and metrics.
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(09:53) Full-funnel marketing is essential in a world with limited attribution.
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(11:00) Top of funnel traffic compressed, need to spend where you can't see.
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(11:51) Need to spend on impression-based ad channels and a full funnel.
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(12:17) Sales cycles are longer than 30 days, need to zoom out and analyze beyond 90 days.
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(13:26) Impact of campaigns can be seen downstream beyond 90 days.
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(14:08) Controversial take: business coaches are the stupidest things ever.
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(14:34) Platforms like Facebook and Google don't accurately measure return on ad spend.
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(15:53) Data and analytics are important but can't measure everything, rely on directional movement.
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(17:25) Leap of faith required for top of funnel campaigns, patience and incremental spending.
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(19:32) Importance of good agencies in navigating data and analytics.
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(20:33) Hope to be among the remaining agencies in the industry.
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