Avoiding Costly Mistakes When Scaling Meta Ads
Learn how to avoid common ad scaling mistakes and plan your audience size and budget to maintain ad efficiency on Meta's ad platform.
Learn how to build a comprehensive e-commerce measurement approach by focusing on multiple metrics to ensure balanced and efficient growth.
"The only metric that matters is ROAS", but also 😡 "ROAS isn't worth measuring".
🗣️ "CAC-LTV should steer your business", but also 😡 "Stop focusing on just CAC".
If you spend any time on LinkedIn or Twitter, you've probably heard these mixed messages from the various marketing experts in the space. The reality is, there is no single metric that matters more than all the others.
Instead I've always favored a suite of metrics that are intentionally looking at the business from different angles.
Here's two frameworks to consider when you're building your eComm measurement approach.
QUALITY - SCALE - EFFICIENCY
These three dimensions are entirely interdependent. Meaning, you can have success or failure in one dimension that is entirely separate from the success or failure in the other dimensions. This can lead to false success narratives that really mess up a business.
Example Problem: if you have an amazing scale of orders but don't have efficient unit economics, you will be scaling losses and eventually go out of business.
However, achieving a multi-dimensional win across all three dimensions means you are really in an awesome position of efficient growth to the right people.
ADS - WEBSITE - LOYALTY - BUSINESS
These four components of your marketing efforts all up to general business health and success. It's not enough to just focus on one of these components. You need all to be working together in unison.
Example Problem: You have a great ad program and high converting site, but you fail to think about retention and loyalty. This leads to a high churn business that is always stuck acquiring new customers.
Try to give yourself an honest assessment across all of these components to identify where you are weak and where you are strong. We all tend to work on the things we like, rather than the areas that need attention. Focus energy evenly to quickly close the gap on weaknesses.
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SUMMARY
All those posts and articles with "this is the perfect metric" and "this the worse metric" are all kind of true. They just are telling part of the story. You gotta do the work to measure across a range of dimensions and components. Yeah - its a lot of work, and not everyone loves this sort of thing. But your business depends on it.
Need help figuring out how to scale your business? Drop a DM or use my meeting link on my profile to set up time together.