Micro-Testing Your Marketing

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Today’s guest is a strategic marketing thought leader and has held roles at Fortune 100 companies as well as start-ups delivering profitable growth.

He speaks about insurance and digital fluently and has a deep understanding of MarTech. David Drotos is the Vice President & Head of Marketing at Equity Trust.

David discusses where to start with your marketing strategy, how to reach conclusions using micro-testing, and why direct mail is such a tantalizing channel for marketers.

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Takeaways:

  1. Before deciding on the marketing tactics you’re going to use, you need to really understand who your customer is and what your USP (Unique Selling Proposition) is. You need to know what you’re looking for before setting out to find it.
  2. Once you know your customer, start micro-testing your marketing. This means you need to iterate rapidly by making small changes which allows you to learn and fail fast. Don’t let great get in the way of good.
  3. Focus on changing one variable within each iteration of micro-testing, such as ad creative, channel, audience, CTA, colors, etc. The more variables in a test, the harder it gets to find a statistically significant conclusion.
  4. Where you start with your testing will depend on your situation but it should all be done in service of finding statistically significant results as fast as possible because you can then remove components that negatively impact your ROAS (Return On Ad Spend).
  5. For companies that rely heavily on paid search advertising, most of the people coming into their funnel through that campaign already have high intent, and they already familiar with your company or service and the leads are more likely to become accounts.
  6. Middle funnel advertising can include Facebook, Linkedin, and YouTube to an extent. An example of middle funnel advertising would be a CTA that drives traffic to a lead magnet that provides some value and can be accessed by entering a name and email.
  7. Due to the limits of different platforms, it’s important to build audiences outside of walled gardens such as Facebook or TikTok. The insights these platforms can provide into building lookalike audiences to advertise to can be restricting for marketers.

Quote of the Show:

  • “The folks who have less to spend have to be more creative and have to be really more judicious on how they spend their dollars and where they spend them at” – David Drotos

Links:

Shout Outs:

  • Don’t Make Me Thinkby Steve Krug
  • Blinkby Malcolm Gladwell
  • 11/22/63by Stephen King

Ways to Tune In:

Featuring:
David Drotos

David DrotosVice President, Head of Marketing, Equity Trust Company

Chris Mechanic

Chris MechanicCEO & Co-Founder

Podcasts Info:
43:12
Categories:
Creative + UX
Marketing

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