How to spend your first $10K in paid marketing for startups
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How to spend your first $10K for customer acquisition How to spend your first $10K: Using Custom Audiences to be 10x more effective Apply to the FBStart Program Get $2.5K in free FB ads credits if you qualify* Turn your $10K into $12.5K How to spend your first $10K $12K Hi, I’m Andy Artz Partner @ Social Capital Head of User Acquisition We invest in transformative ideas with global impact to fundamental human needs VP @ OMGPOP Analytics & Finance Real-time Multiplayer Social & Mobile Games ----- Meeting Notes (10/11/15 21:01) ----- We are big fans of the Launch team and fund XXX 4 Are you ready to test spend? You already have some traffic & customers You have a working product You can service more customers Note: this is not a substitution for organic efforts! ----- Meeting Notes (10/11/15 21:05) ----- There's a lot of great talks focusing on organic strategies and I encourage you to think about this as a separate test bed to augment your traffic not the sole source in of itself 5 Where do you start? Facebook? Twitter? ----- Meeting Notes (10/11/15 21:05) ----- They just released a new way to poll users 8 Youtube? Content Syndication? Adwords? New stuff? Yea, there’s a lot to choose from Pick a scalable platform The purpose of your first $X should be to to prove out the viability of a channel If it works, you can pour more $ in based on your learnings Avoid one-offs and things that you don’t have control over (e.g. buying a billboard) CONTENT COMPLEX IDEAS SOCIAL TARGETING SEM CAPTURE INTENT VIDEO BRANDING Find “product-platform fit” Strategies to avoid when you’re young http://www.pocketgamer.biz/comment-and-opinion/61387/apple-killed-ua-again/ Featuring = now 100% curated It takes 50-100K installs in 24 hours to penetrate the Top 10 on iOS. The plus is organic discovery. Incentivized networks charge ~$1-2 per install App store charting & bursting 18 How charting works Done well, spending ~$2K per day on incent traffic can yield 0.5x-1x organic lift on iOS 19 Popular keywords are $$$ It is unlikely that your product’s v1.0 LTV can compete with their v10.0 LTV ----- Meeting Notes (10/11/15 21:14) ----- Access to better CPAs based on scale 20 IP-based geo-targeting ≠ great We compared users’ GPS location from 1st app open to determine what % were within targeted city limits ~40%+ inaccuracy Mobile ad network CONTENT COMPLEX IDEAS SOCIAL TARGETING SEM CAPTURE INTENT VIDEO BRANDING Onwards to custom audiences… 4 core concepts for today: Setup the proper tracking Study your audience Prime your audience [with content] Convert your primed audience Use FB’s custom audience pixel Get the FB Pixel Helper Install the FB custom audience pixel 4 core concepts for today: Setup the proper tracking Create derivative audiences Prime your audience [with content] Convert your primed audience Create custom audiences Your traffic Your pixel Analyze your custom audience using FB Insights Your audience 1.7K MAU Men 25-34 Pro-Tip: Create a 1% Lookalike Audience Your pixel 4 core concepts for today: Setup the proper tracking Create derivative audiences Prime your audience [with content] Convert your primed audience Prime your audience using earned or owned media No pixel found Q: How do I get my custom audience pixel on my earned media? A: Use redirects or iframes. Snip.ly is your friend. Short URL Bonus CTA Your FB Pixel Recap: You now have placed your custom audience pixel on your earned media. When you send traffic to that short URL, you are planting the seeds of your custom audience Next - drive traffic to your site from your FB page Create a hidden post from your FB page in FB power editor using the snip.ly URL Now boost the post using a Page Post Engagement ad targeting your Lookalike 1% Your audience Why should you boost posts? Your historical traffic flow is small and you want to grow it You want to target a new niche not reflected in your current traffic You accrue organic reach to your page You can access cheaper CPM / CPC Boosted post results Boosted post results 4 core concepts for today: Setup the proper tracking Create derivative audiences Prime your audience [with content] Convert your primed audience Convert the users who have visited your page/blog Custom audience Branded mobile app install ads This test: show the ad to a “primed” custom audience vs. a general lookalike audience of “non-primed” Mobile app install ad results Mobile app install ad results 4 core concepts for today: Setup the proper tracking Create derivative audiences Prime your audience [with content] Convert your primed audience Hey…that was only 4x improvement…I want my money back! This test was run with $2500 in spend…which is the free credits you got to start Refinements Use the learnings from page post engagment ads to refine content choice, copy, and targeting to maximize CTR/minimize CPC. Likes, comments, shares help to get organic reach. You need organic lift on page posts to make this work. Because the cost of priming adds a fixed cost to your primed conversions but gives you a 4x multiplier – you have to find the sweet spot where the multiplier effect in increased conversion rate outweighs the cost of priming. For a detailed calculator download the excel here: https://s23p.box.com/FBPrimingCalculator Let’s Recap! Earned Media Pixel Branded FB Page Owned Media Snip.ly / Redirect Unbranded FB Page Page Post Engagement Conversion Ad Custom Audience Branded FB Page You can find this talk at: socialcapital.com/artifacts