LiftLab

We’re excited to share that LiftLab has been announced as a finalist for the Digiday Technology Awards in the Best Attribution Tool category! 🎉 https://lnkd.in/eSBEYZa7

🎙️ Catch LiftLab’s "Curve Your Enthusiasm" on Spotify, Apple Podcasts, and YouTube! 🎧 Haven’t tuned in yet? Now’s the perfect time! Dive into the "Curve Your Enthusiasm" podcast, where top industry leaders share cutting-edge insights on marketing tech, data strategies, and the future of modern marketing. 🌟 🔗 Listen on Spotify: https://lnkd.in/dmTK9ezy 🔗 Listen on Apple Podcasts: https://lnkd.in/dtWdHQGp 🔗 Watch on YouTube: https://lnkd.in/dhFvatUx #CurveYourEnthusiasm #metricsthatmatters #BeyondIncrementality

Join us for our ninth episode of Curve Your Enthusiasm featuring an incredible speaker! 🎙️ We are thrilled to announce Kasper Klit, Director of Paid Media & Performance Marketing at Pandora, who will be sharing his insights and experiences. He'll be joined by our very own John Wallace, Co-Founder & CEO of LiftLab, and Jon Lorenzini, VP of Marketing Science at LiftLab. Don't miss out on the latest industry insights and strategies! 🗓 Register today to join us on September 24th at 11 AM PT | 2 PM ET: https://lnkd.in/dX9zAHCu See you there! #CurveYourEnthusiasm #metricsthatmatters #BeyondIncrementality

Most companies do influencer marketing wrong. *Terribly* wrong. Here are the 3 biggest mistakes (and how you can avoid them in the future). First, the mistakes: 1/ Choosing the wrong influencer 2/ Measuring incorrectly 3/ Running discounts Sounds obvious, but let me explain: 1/ Choosing the wrong influencer Most companies choose influencers based on their aspirational image, not their audience. A tech company might pick a 27-year-old female physics award winner who just returned from a big science exhibit in Europe. She's techy, cool, and edgy. But if her audience doesn't match your target demographic, it doesn't matter. Her audience won't buy your product. The same goes for fitness companies. They often go for athletes and marathon runners. But their actual customers? Middle-aged parents in middle America. These folks aren't watching 22-year-old Olympic athletes. They're watching baking channels, makeup tutorials, and home improvement videos. If you want to succeed in influencer marketing, you need to find influencers who speak to your actual target demographic. You'll get a much higher hit rate than chasing flashy, aspirational figures. 2/ Measuring incorrectly It's tough to track every dollar generated. You can use links, codes, and surveys, but it's still a brand investment. What really matters is getting the right message to the right consumer at the right cost. Focus on CPM, not based on total followers, but on the percentage of the influencer's audience that falls within our target demographic. Optimize this, and you're more likely to succeed. 3/ Running discounts Influencers want to offer something unique, but you don't want 200 different discount codes floating around. So, make the influencer discount marginally better than your standard offer. If you have a $20 welcome offer, maybe make it $25 for the influencer. It's better than direct, but won't drastically change your margins. Just be careful not to turn influencer marketing into a "discount in disguise." Some brands say they're full-price, but offer big discounts through affiliates or influencers. It's a complex system to manage. TAKEAWAY Scaling influencer marketing isn't like scaling paid ads. You can't just click a button to double your budget. You need to double your influencers, outreach, and creative reviews. It's hard to scale successfully, but can be done. What are your thoughts? #influencermarketing #marketing #advertising #marketingscience

Excited to share our success story with Cinemark! 🎥✨ Through our partnership, Cinemark successfully scaled from 7 to 13 channels, optimized marketing spend for maximum impact, and achieved impressive ROI, all while remaining adaptable in the dynamic entertainment industry. Hear it straight from Jeff Rosenfeld, SVP of Digital and Customer Experience at Cinemark, as he shares how LiftLab's data-driven approach transformed their marketing strategy. 👉 Read the full case study here: https://lnkd.in/dXAA8JFm #MetricsThatMatter #BeyondIncrementality #LiftLab

Excited to share our success story with Cinemark! 🎥✨ Through our partnership, Cinemark successfully scaled from 7 to 13 channels, optimized marketing spend for maximum impact, and achieved impressive ROI, all while remaining adaptable in the dynamic entertainment industry. Hear it straight from Jeff Rosenfeld, SVP of Digital and Customer Experience at Cinemark, as he shares how LiftLab's data-driven approach transformed their marketing strategy. 👉 Read the full case study here: https://lnkd.in/dXAA8JFm #MetricsThatMatter #BeyondIncrementality #LiftLab

John Wallace talks to roughly 15+ marketers and their agencies every week, and one of the most common questions is about how many marketing channels they should focus on. Here’s how he usually respond (you might not like the answer): Let’s start from the beginning: In the early days of your brand, your approach depends on whether you're selling a niche or commoditized product. For niche products, you'll likely focus on search. Why? You're trying to capture specific inbound searches and redirect them to your website. Paid social is often too expensive early on because you need to educate people about your niche service. But if you're selling something commoditized, search might be too competitive and expensive to start. You might have better luck with social media. You can tell a unique story and use creative messaging without needing to educate about the category. But as you grow, your channel mix definitely evolves and you need to think about multiple channels to continue with the growth. Let's say you hit $10 million in revenue. You'll need to expand beyond your initial channel. For niche businesses, you'll hit a saturation point with search. To keep growing, you need to build brand awareness. This means investing in social, influencer marketing, out-of-home ads, and maybe even TV. For commoditized products, as you build a strong base on social and other channels that let you differentiate your message, you'll likely see more brand-related searches. This allows you to branch into bottom-of-funnel channels like search. By the time you're a $100 million or billion-dollar company, you're looking at a much more diverse channel mix. You're balancing brand building with performance marketing. So, how many channels should you use? It really depends (see, I told you that you might not like my answer). But roughly speaking: - As you start out, focus on 1 channel. - At the $10 million budget mark, aim for 3-5 different channels.  - And when you're spending $25-40 million, you should have at least 5 channels in your mix. There's no perfect formula. Keep evaluating, keep adjusting. That’s the key to success for most of the biggest brands on the market today. Thoughts? #marketing #advertising #marketingscience

Canva is a multi-billion dollar company. John Wallace & Jon Lorenzini recently spoke with Moe Kiss, their Director of Data Science – and asked her how change in marketing measurement happens in such a gigantic organization. Here’s the most interesting takeaway from our conversation: Moe’s biggest lesson: You *need* to bring your stakeholders along for the journey if you want to make internal change happen in marketing measurement. At first, she thought the technical challenges were the biggest hurdle: - Canva used to build everything from scratch. From attribution models to nationalization tables. - It was an intensive process to get to where they are today. Now, they have a suite of measurement tools and various algorithms to determine spend and performance. Interestingly though, this wasn’t *that* big of a challenge. The real challenge was getting stakeholders to understand WHY we should make certain moves (like investing in a new measurement model). She learned that they needed to involve stakeholders in the entire process, so that they’d always be in sync on why certain investments were necessary. And there’s another value-add in doing so: -> Canva recently brought on a set of new marketing leaders, all coming from different geographical locations. Logically, they weren’t aware of how the measurement setup works, making it harder for them to get up to speed. By documenting every single step of the process, you not only make sure that stakeholders are in the loop, you also help new hires ramp up faster. Agree? Disagree? Watch the entire episode here: https://lnkd.in/dnfe3bVD #marketingmeasurement #marketinganalytics #CurveYourEnthusiasm

LiftLab is coming to Cologne! DMEXCO - Digital Marketing Expo & Conference is two weeks away and John Wallace and I would love to see you there!

Hot take: AI won’t replace marketers in the near future. Not what I said, but what Tim Wilson said in one of our recent conversations. Here’s how he thinks about AI’s role in marketing analytics: Short version: Tim doesn’t have faith in AI. Here’s why: AI is missing the human component. It can’t come up with creative marketing thoughts that will help companies sustain competitive advantage. If you’re relying on something that’s just comparing you to the average (or looking for anomalies in datasets), that’s not going to happen. Sure, AI might be good for simple, language-related tasks. Ideation, brainstorming, or even some level of coding. But if you really think AI will replace marketers, think back to the last conversation you had with an experienced coworker: To make good decisions, you need to make MILLIONS of judgment calls that are based on human experience. AI can’t do that. If you’ve ever had something to do with a marketing mix model, you know how incredibly complex it is. If building such a model could be done by machines, it would be automated by now. So, to put it in Tim’s words: That’s why he’s bearish on AI in the mid-term. Watch the entire episode now: https://lnkd.in/dnfe3bVD #ai #marketingmeasurement #marketinganalytics #CurveYourEnthusiasm