To build the most accurate GPS goals estimate and plan, Conduit needs a few key pieces of information about the client's business.
The exact inputs depend on the campaign goal:
Lead Generation,
Ecommerce, or
Awareness.
For Lead Generation Campaigns
Please provide:
Typical Sale Value: What is an average customer or sale worth?
Gross Margin: After labor, materials, product, or other direct costs, approximately what percentage remains before marketing?
Lead-to-Customer Conversion Rate: Approximately what percentage of leads become customers?
Repeat Customer Value, if applicable: Do customers typically purchase again?
If the client doesn't know their exact close rate, a simple way to ask is:
Out of every 10 qualified leads you receive, approximately how many become customers?
For Ecommerce Campaigns
Please provide:
Average Order Value (AOV): What does a typical online purchase generate in revenue?
Gross Margin: After product and fulfillment costs, approximately what percentage remains before marketing?
Because the purchase happens online, a lead-to-customer close rate isn't required.
For Awareness Campaigns
Awareness campaigns are measured differently because the primary objective isn't necessarily an immediate lead or purchase.
Instead, we'll establish appropriate KPAs based on the campaign objective, which may include:
Reach
Impressions
Frequency
Traffic
Engagement
What If My Client Doesn't Know Their Numbers?
That's okay! If reliable client or historical performance data isn't available, GPS can begin with clearly identified industry assumptions and set them as the baseline to start where appropriate. Those estimates are replaced with actual client and campaign data as it becomes available.
The more accurate the client inputs are, the more specific we can make the initial GPS estimate. However, nothing will be stronger than actual performance data if it's a transition from an existing account.
Managing to the Estimate
Regardless of whether it's a brand new account, an account brand new to goal tracking, or a long-term running account, we will always do a 90-day baseline to determine what performance dictates makes the most sense for the tangible goal. Our GPS Estimator helps set an initial baseline (via Business Math or Industry Benchmarks), but performance will be the final decision factor. As performance continues, we'll be measuring quarterly and making adjustments where possible to keep all parties aligned.