I guarantee you, the difference between a
good buyer and a bad buyer is a good buyer knows how to spend money and is
confident pushing dollars. So if we were to ask, how do we make some of these
decisions? This isn’t gonna be as fleshed out as I would like, because there’s a
lot of intricacies in this, but you understand, at least where we’re
beginning with. As we start, did it spend 1x AOV? Okay. I would recommend this. This is the
easiest way of making decisions for products that are being sold between $20
and $150. Now if you’re selling high-ticket $2k, you’re not spending $2,000
before you actually make a decision. Maybe you are, but I want to try to
prevent that and I’m going to give you a little bit of ways of making sure you
can. Next, if it didn’t. Continue to let it spend. Do not touch it. If it did,
if it did get that purchase, allow it to run through. If it didn’t hit our core
metrics, if the cost per initiate check out and the cost per add to cart is not
accurate, cut it. Axe it. But if it did, alright baby, keep on moving, keep on
giving. And lastly, if it passes all the way through, let it run, turn it off,
as easy as that. Three, two, one. If I were to build something, now it’s a little bit more
scientific. How do we make sure that we’re actually making clear
judgements at this funnel? Well we built one of these. Nice little calculators. Top
we have our correlations. Right below that we have our conversion rates, and in
the bottom we have our success metrics. These success metrics turn every single
junior media buyer into an intermediate or advanced because now we’re confident,
and the most consistent question I get alongside from the creative is how do we
get good buyers? I know Savannah talk about it. Dim’s got a team that he’s trained, and
I guarantee you, the difference between a good buyer and a bad buyer is a good
buyer knows how to spend money and is confident pushing dollars. Bad media
buyers won’t spend money. So we look at the correlations, this is to see if is the CPC or any indicative of a future purchase. Most likely not, but maybe it is. Pull it.
This is simple and Excel shows a correlation versus two channels, easy export. What
about our conversion rates? If you’re gonna click, how likely are you to get to my cart?
Well if you’re gonna get to my cart, how likely are you to get to my checkout, etc. These things are all very simple to pull.
This is a simple calculator, I’d love to share it with you. You guys have my email.
And lastly we have our ROAS target. Sometimes you can’t spend up to $2,000 or $200 or $400. You have to cut it earlier, so if your metrics pre-purchase are not in line, cut it.