Streamline Your Marketing Acquisition Funnel for Procurement with airSlate SignNow

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so now let's talk about debugging customer acquisition channels so we have some of our initial data but we want to get more granular around those two things we want to get granular around are we improving over time and how do our customer acquisition channels fare so let's kind of dig into that a bit I've listed here some customer acquisition channels so we have our hundred people coming to our website and we've spent $50 let's just say on five people coming in through maybe ads let's just say and then let's say that we have another 50 that just come direct we don't really know where they're coming from frankly speaking a lot of the times when you look at your Google Analytics you just have unattributed traffic and that's normal and usually about half of your traffic or even as much as half of your traffic can be unattributed but that's okay and then lastly maybe 45 people come in let's just say through referral codes all right so even though the overall numbers look good I think it's really important to dig into each of these now we've only gotten five people here thirty to fifty dollars in other words this is about ten dollars per click format so that doesn't seem very promising because our product remember you finally get to the end is a hundred dollars per month we could run more ads and see like if it turns out the one person who converted down here is from ads then we may like to run more traffic through ads just to verify whether this is actually a channel that we can use that scale it's really hard to tell on five people coming and so yeah this is something we may want to try if it turns out that zero people converted I wouldn't exactly right off ads right now because only five people came but you can kind of see the thinking like let's say that we run more ads again at ten dollars a click which you know seems quite pricey but if it converts who cares because we're making a hundred dollars a month and so if we can get pay back in that first month that would be great so we'll run ads and so that we drive you know another a hundred people so we're spending a thousand dollars down which is quite pricey and if we don't have conviction on that channel like if nobody's converting and we should probably not work on ads as the first thing now it's not to say that ads will never work ads tend to be cyclical in nature and also there are many different ad channels we didn't even specify which ads but Facebook ads for example operate often very differently from Google ads and you know they're now newer ad channels I think tic toc is sort of the latest craze but a lot of people actually find really cheap ads on YouTube ads so so and so you know there are many different segments of ads so that's kind of how I think about that and then on the referral code depending on how this referral program works if we are let's say taking $10 off or providing one free month to each new subscriber and the person who referred then essentially we need to see how this affects our revenue that is a cost you shouldn't consider it as free and and we should kind of dig into who is converting amongst the forty five people who have generated the numbers right now are probably too slow too small again and so we may want to try to drive more people to referral codes as we grow and then lastly direct we cannot control but you see when the problems is when about half of your traffic is coming direct and it's unattributable then that can blend in with all the concerted marketing that we're doing and concerted marketing cost money and so our concerted marketing may actually seem cheaper than it is because it's getting blended in with this unattributable traffic so that's how I would look at it like slice and dice by channel create a funnel for each channel and see how they're doing and where there's not enough data put some more effort into it and if you're not seeing the initial results even without your campaigns in any of these categories being that optimized in the beginning at least of your startup I would move on to the next channels because one of the interesting attributes of some of the most successful companies is that they can even with just very straightforward plain and you know not even well-designed ads or promotions or campaigns in any of these channels like the companies that were that have found success tended to have campaigns that have done very well from the get-go in a channel or so so I wouldn't think oh well I'm not a very polished designer I'm not a very polished marketer that's not how I think about things I think if you're putting in reasonable effort into a channel and it's not working I would just move on because optimization really should be just that that you are optimizing something that is working and so if something is not working right out of the gates my strategy would be to move on to something else a different channel