Category: Data/Analytics

Disclaimer: The company featured here is not a sponsor of the show, nor have I affiliated with them. They simply bring a perspective that I think you’ll get some use from.

“It’s not working.” That’s the gist of every complaint made about marketing funnels. Marketers painstakingly build a series of offers and pay for traffic to see them, but the conversion rates drop off somewhere between there and the point where sales close.

Can funnels be fixed? Absolutely, but not without knowing a critical piece of data. Getting that data that helps fix the suboptimal parts of the funnel is our focus today. 

To go through this I’m joined by Keith Perhac, a digital marketing expert and software entrepreneur. After growing up in the states, he headed to Japan to become what’s known there as a salaryman. He moved back In 2010 to work with startups and digital marketers looking to grow quickly. He founded SegMetrics, a tool that lets you see revenue from the perspective of each touchpoint in your marketing funnel. Since then, he’s appeared on over 35 podcasts & in 2020 published the book we’re here to discuss, “Building Marketing Funnels that Convert, a 90 minute guide”

When he’s not working on SegMetrics, Keith draws and attempts (futilely) to spend more time outdoors. He lives in Portland, Oregon with his wife and two daughters.

People/Products/Concepts Mentioned in Show

• VWO
• Urchin Tracking Module (utm) parameters, appended to URLs for Google Analytics to assign attribution.
• Kaizen
• Keith’s company, Segmetrics.io and a short demo of their tool
• Keith on LinkedIn and Twitter
• You may also want to check out Gary Amaral’s episode on measuring funnel touch points with enterprise B2B with a heavy human sales component

Disclaimer: The company featured here is not a sponsor of the show, nor have I affiliated with them. They simply bring a perspective that I think you’ll get some use from.

Chess Grandmaster Garry Kasparov was famously beaten in 1997 by a supercomputer built by dozens of IBM technologists. A Slate article looking at how Deep Blue changed chess said “The change here wasn’t just that a computer could win, but that a computer could help human players win if incorporated into their training regimes effectively.”

The same thing is happening with PPC Platforms. Since 2011, Google has been integrating AI into many of their products, and every campaign feature Google Ads rolls out seems to take away control from us humans and give it to their machines. So if we’re going to follow Kasparov’ lead and get better at this game with the AI, the question becomes, what’s the process for training an ad platform’s AI, when it’s writing programming that only it knows, and even the technologists running it don’t know?

Some answers are contained in the book Digital Marketing in an AI World. Fred Vallaeys was one of the first 500 employees at Google where he spent 10 years building AdWords and teaching advertisers how to get the most out of it as Google’s AdWords Evangelist. Today he serves as Co-Founding CEO of Optmyzr, a PPC management software system. Fred is a fixture on the marketing conference circuit and blazed new trails with online industry learning through Optmyz’s PPC Town Halls. 

People/Products/Concepts Mentioned in Show

• Google Ads Scripts: One compilation by Fred’s company and another by RankHammer
• Tools like Google Ads Seasonality Adjustment and GA4 Data filters, that train Google to omit anomalous periods by imputing data they should not factor into their machine learning models. 
• Vickrey Auction system used by PPC platforms
• Google Ad Customizers
• SKAGs: Single Keyword Ad Groups
• Follow Fred on his Twitter or LinkedIn profiles for info on his upcoming book, “Unlevel the Playing Field”
• Company co-founded by Fred, Optmyzr

Episode Reboot: 

Remember, computers have a different kind of smarts than us.

Are you looking at how your marketing can use AI? That’s good if you are, but it’s not enough to know how it works. Whether you are embedded in marketing operations or you’re an executive who oversees it, you must also figure out how to get your organization to buy into AI. You’ll need stakeholders who own precious data, you’ll need knowledge experts to train your models, you’ll possibly need operations folks to change what they deliver…as AI informs what you offer. Lastly, you’ll need money – getting that money will take you proving that investing in AI yields a positive ROI. So by now, you’re probably wondering how you can implement AI. Well, if you are, you will definitely be interested in the framework called the “The AI Marketing Canvas”

It’s all detailed in a book by the same name, co-authored by Raj Venkatesan, along with Jim Lecinski.

Professor Venkatesan is a professor at the Darden School of Business at U of Virginia. He is also a co-author of the book Cutting Edge Marketing Analytics. Before coming to Darden, Venkatesan taught graduate students at the University of Connecticut. There, he was the recipient of the MBA Teacher of the Year Award. He received his Ph.D. in marketing from the University of Houston and his B.E. in computer engineering from the University of Madras. He has consulted with firms in the technology, retailing, media, industrial goods and pharmaceutical industries. 

People/Products/Concepts Mentioned in Show

Framework’s 5 stages, reproduced with permission:

• AI Marketing Moments: acquisition, retention, growth, advocacy
• Google’s Zero Moment of Truth, co-authored by Jim Lecinski
• Clayton Christensen and the Innovator’s Dilemma
• CapEx vs OpEx
• Washington Post’s spinoff Zeus Technology
• Jim Lecinski’s LinkedIn Profile
• Rajkumar Venkatesan’s LinkedIn Profile