Digital Marketing More Than Money In Money Out By Justin Brooke
Here’s a funny story from when I worked at Agora…
Specifically, Legacy Research (the best division of Agora IMO) under the leadership of Fernando Cruz.
Standing one-footed atop my high horse, I gave myself the title “Senior Media Buyer” as I sat down in a room full of media buyers who had spent many millions more than I had.
And when they showed me the way they did their marketing reports, I was immediately like “no no no this is the way Fred Flintstone did marketing back when he rode a Brontosaurus to the office.”
All they did was count up total sales and total cost.
To which everyone would meet at 10 am in a glass-walled room with a big boardroom style table and even that triangle looking conference caller like in the war movies.
We would take turns showing our super basic numbers to Fernando. He had intel from accounting on the earnings so he could tell us if our costs were 👍 or 👎.
👍 = spend more
👎 = you’re fired (kidding) it meant you have until next meeting to fix it or you’ll have to kill your campaigns and start over. Or even possibly move on to a different product.
Here comes Mr. Sophisticated 🤵🏻aka me.
I basically spent all 4 months of my employment there fighting against this simplistic approach. Instead vying for tracking perfection ala dynamic keyword insertion, weighted view-through conversions, time decay attribution.
Just keep inserting every buzzword phrase until you’re all out of them, and that was me sitting in Fernando’s office with the IT guys.
“Fellas we must raise the bar on our tracking methodology. It will help us have far better controls over our campaigns than just 👍or 👎.”
Meanwhile, I’m sitting in the office of a company that brings in at least 100x the revenue I’ve ever made. Telling THEM how things should be done. 😆
Eventually, it was the reason I quit.
If they weren’t willing to do things my way, then they didn’t need me there. (I had my own biz anyway)
I set out to prove them wrong in my own company. I’ll go do all the things they aren’t willing to do. I’ll show them!
Tens Of Thousands Of Dollars Later
Hired all the expert consultants that you’ll likely tag in the comments.
Bought all the tools you’re going to tell me I should try.
Finally, I accepted that perfect tracking is a golden goose. More like a dumpster fire that will eat as much money as you want to throw into it.
6 months of using one of the most popular tracking tools and all it was really telling me at the end of the day was “your leads are worth more money the more stuff you sell them over time.”
The reality is we are in a weird time in history as far as tracking goes. We have a privacy war that is aflame. Ad blockers, browsers set to default no tracking on install, and 3rd party cookies on their way out.
Today, I’m meeting with a company to explain global tracking. Which is what I call Agoras way of doing marketing analytics.
It’s what we use now in our business, and has helped us grow by over 500% year over year.
Money Out vs Money In
If you think about it, that’s all the banks, buyers, investors ever look at anyway. No one cares which keyword and color border got you a 0.38% CTR lift.
The reality is your FB ads are helping your SEO. Your SEO is helping your CPA. All of your marketing activities are connected, it is not 1 thing pulling all the weight.
At the end of the day if everything you do in a combined effort has your costs lower than your earnings then 👍
If earnings are lower than costs though, then 👎
Since we adopted this way of doing things we stopped spending whole weeks trying to get this tag to work and that dashboard to be true and oops someone used the wrong naming convention so now we have to start over, etc.
Instead, it’s very simple.
We count our total costs daily, total sales daily, and our earnings. Simple, fast, cheap, and shows everything we really need to see.
I’ve gotta run, that meeting is starting.
I’ll be back with part 2.
I know you have questions and doubts.
I’ll explain how we know where to look for what to fix in part 2 in the next edition of The Six Figure Coach…
About Justin Brooke
Justin Brooke is the founder of Adskills. We are the world's largest online school for digital advertising. We teach advertisers how to install proven campaign frameworks tested first with our own dollars.
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