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The ultimate guide to performance marketing | Timothy Davis (Shopify)
Lenny's Podcast: Product | Growth | Career
Strategies for Exploring Signs of Life in Performance Marketing
Identifying sources of traffic can guide where to invest in paid ads and performance marketing. Conducting small tests on various platforms can reveal 'signs of life', indicating potential success. Stakeholders should avoid making impulsive decisions based solely on initial positive signs. It's crucial to ensure that the creative, campaign structure, and messaging align with the target audience on that platform. Many marketers experiment with platforms like TikTok, Snap, Twitter, and LinkedIn without achieving desired results, often questioning their approach or the platform’s effectiveness. A fundamental recommendation is to leverage existing customer data to create lookalike audiences. Start with a 1% lookalike based on the most closely related customers to maximize correlation and insights. Gradually test through various percentage ranges like 2-4% and 5-7%, although larger ranges (8%+) may yield inconsistent outcomes. For those with limited budgets, focusing on the 1% lookalike is a pragmatic strategy to ascertain positive indicators, which can then inform a more extensive and effective campaign development.
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