We recently did some research on how to reduce time-to-REAL-optimization and time-to-success. Here’s what we found out:
Leverage your own data center. Make sure it is actionable.
As campaign managers, we sit on a ton of data from previous or current campaigns. One of the steps we usually take is to classify a campaign’s data based on industry. Instead, try to get a bigger picture. Use large business categories – B2B, B2C, Retailers, E-Commerce, High-End Products, Mass-market, and more.
Define a conversion rate for each categories and potential variances based on risk assessment and brand confidence (well-known brand or a new market entry / trusted products or new product introduction). Similar to the Beta (β) calculation in finance, built your own formula based on a specific benchmark from your own data.
This is an example of a chart that can help you build an initial key action plan to reduce time-to-success.
Remember, the objective is to beat the market ASAP and bring the campaign to maturity as quickly as possible.
It also adds a lot of value when prospecting for new clients. One of the challenges in our industry is to be able to sell the results and not the actual campaign. If your data center is actionable, you can leverage powerful forecast on conversion rate, CPA, and more.