CXL Institute Growth Marketing Minidegree review Part 11

Iceberg Effect

Understanding the Research tools

  1. Keywords planner: A Google native tool that can be found within the Google Ads platform. This will help in providing the first hand keyword suggestions based on your website URL or a competitor’s url, pinterest, wikipedia or reddit url. This is a great native google ads tool.
  2. Display Planner: A once loved tool is not available to use without creating an ad. Display planner is something similar to Keywords planner but should be more directed towards understanding the placement, audiences and demographic targeting. This is again a native research google ads tool.
  3. Spyfu or SemRush: The thing that we are going to care most about when it comes to using a tool like SpyFu or SEMRush is what kind of net new keywords that we haven’t found through the Google Keyword planner that we can use and actually add to our account to target, to get more impressions and also more clicks, which will hopefully lead to more leads and therefore more sales for us.
  4. What Runs Where or Moat: What Runs Where basically allows you to seethe type of ads, so the actual creative that the advertiser and that competitor is using in addition to the actual location, the placement of where that ad was seen, and also even breaks down the type of ad network beyond just Google Ads, plus the landing page they’re using to send traffic to.

Not a Game of Ice and Fire in Google Ads

Source: KlientBoost Youtube channel

Smoke Testing

Search and Shopping Targeting

  1. Broad match: Not a focussed approach but an attempt to get as many clicks as possible
  2. Broad match modifier: This places a plus sign at the start of the keyword. However, the combos of words don’t matter, as long as the keywords are in there you want to trigger your ad.
  3. Exact match: This is the most restrictive, and this is going to give you the least amount of impressions and also the least amount of eyeballs and chances for clicks; this is called exact match.Exact match basically tells Google that you can’t put anything in front of the bracket or after the bracket, and it has to be within the bracket in that order.
  4. Phrase match: It tells Google to put anything in front of the quotes or after the quotes and you want your ad to show, but you can’t change up the order within the actual quotes.
  1. Dynamic Search Ads: these type of campaigns basically allow Google to scan your domain and come up with what it thinks are relevant ads and also relevant search terms to trigger as well, too.
  2. In-market audience: They are basically shopping actively for your type of products or services. So if you wanted to test out, let’s say going broad match, for example, and then adding a layer that’s targeting on top of this, you can.

Display and YouTube Targeting

  1. Audiences:
    a. There are in-market audiences that as per Google have a higher propensity to convert and are in the market looking for products and services closely related to your website.
    b. We also have affinity audience who are not necessarily looking to buy but are interested in the topic.
    c. There is also an option to create custom intent audience. They are basically combinations of audiences that you’ve created yourself, where you can say hey, they’re interested in home decor and they’re also interested in Pinterest and they’re also interested in this other website for example.
    d. Similar audience mirrors and mimics the demographics, the interests and behaviours of the actual audiences that you’re building. This is closely related to the concept of Lookalike audience in FB.
  2. Demographics: Focussing on the age, area and other demographic fields.
  3. Keyword: Google will automatically pull keyword groups from your URL that it thinks might be the best for targeting.
  4. Topics: topics are basically groupings of websites or YouTube channels or mobile apps that are about that topic.
  5. Placements: These are individual websites, YouTube channels, YouTube videos, like actual individual apps that you can target or even app categories.

Understanding the world of Account Based Marketing (ABM)

Steve Watt for CXL
Flip the funnel approach to understand ABM

What are the factors to consider for the right ABM strategy

  1. Deal size
  2. Complexity of your product or solution
  3. Size and complexity of customer / prospect orgs
  4. Number of customer / prospect stakeholders
  5. Strategic importance of particular clients
  6. Current perception (if any) of your firm
  7. Competitive environment
  8. Internal factors (budget, talent, alignment)

The different types of ABM

Source: ITSMA
  1. You can start by analysing the Fit, Intent and Engagement of these accounts.
  2. Prioritise the accounts through Predictive, Intent, Trigger and Behavioural aspects. This will help in segregating the accounts in one:one, one:many and one:few segments.
  3. This can further be refined through Gates and Weights model. Chalk out factors that can classify as gates to identify the top tier accounts and so on. Weights can be assigned then to cluster the accounts. These weights can be assigned basis resources, next-steps (in-person or content or digital only). A good approach is to cluster through a mix and don’t rush into building the account list build.
  4. IAP>ICP. ICP sometimes turns into Average Customer Profile. Look beyond CRM and take the ever changing nature of your product and environment into consideration.
  5. The best approach for you is going to depend on the sizeof your market, the size and complexity of your deals, the size of your sales team and so many other considerations.The ideal account for you may not be the same as your ideal customer.

So then after this it is all about how are we speaking to within these accounts?

Steve Watt for CXL
Steve Watt on ABM Hype Cycle

Measurement risks

  1. Ensure that the objectives are clearly defined and the measurement is aligned with the objectives.
  2. Understand what are we measuring? Channel or overall performance. Always remember that you are measuring overall performance and the overall economics of the win. The channel economics define the efficiency and the speed at which we execute.
  3. Always be testing and learning.

Thoughts

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Startup Growth | Business Development and Sales | Creative thinker

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Alakshyendra

Alakshyendra

Startup Growth | Business Development and Sales | Creative thinker

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