All Things Growth and Marketing

That it costs five to seven times more to acquire a customer than it does to retain one isn’t entirely true.

The origins of this myth can be traced back to the 1980s when the Technical Assistance Research Project published research that stated the cost of customer acquisition was significantly higher when compared to the cost of customer retention.

Soon after the research was published, other institutions like the Customer Service Institute, Consumer Connections Corp., and ITEM Group all “found” similar data.

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Video marketing is booming. It’s no longer news. Cisco predicts that, globally, video traffic will be more than 80% of all web traffic by 2022 (up from a prediction of 75% made in 2017).

Other recent reports claim a 17% leap in video content usage in 2018, with the average person watching more than 90 minutes of online video every day. In the same report, 85% of surveyed consumers said they would like to see more videos from brands.

However, simply creating videos isn’t enough. Content marketing in general—and video marketing in particular—needs strategic planning to work.

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A few years ago, our developers rolled out Angular on a few key web pages—without consulting the web analytics team. The pageviews on some of the pages suddenly dropped to almost nothing.

I bought two books on Angular to try to find a solution. Meanwhile, my manager stumbled on an alternative syntax for tracking pageviews in Adobe Analytics. As we found out, a similar alternative syntax also exists to track clicks (and anything else).

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Confidence intervals

Confidence intervals are a standard output of many free and paid A/B testing tools. Most A/B test reports contain one or more interval estimates.

Even if you’re simply a consumer of such reports, understanding confidence intervals is helpful. If you’re in charge of preparing and presenting those reports, it’s essential.

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Password UX

Have you ever forgotten a password for a site? What about a security question?

Have you ever spent a ridiculous amount of time trying to think of a password you can remember, but also complies with a list of arbitrary requirements (e.g., seven uppercase letters, four special characters, etc.)?

When these UX problems pop up, they cause friction.

Friction that prevents new SaaS customers from signing up, friction that prevents loyal eCommerce customers from creating an account for next time, friction that prevents current customers from accessing their accounts.

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As Peter Drucker famously wrote, “The aim of marketing is to know the customer so well the product or service fits them, and sells itself.”

In conversion optimization, we talk about the importance of knowing our customers a lot.

But we rarely talk about the process of strategically segmenting our audience so that our products and services can sell themselves.

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Back in 2013, Nielsen reported in its “Trust in Advertising” study that online banner ads are the least trusted form of advertising among consumers falling even behind traditional ads like in the newspapers or magazines. A few years later, Bannersnack reported that 54% of internet users don’t click on banner ads because they don’t trust them.

In fact, display ads have a click-through rate of just 0.05% (across all formats and placements). Certainly not encouraging.

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The way we do retargeting is restrictive.

Creating a tailored, personalized campaign is often done with micro-triggers: Did the user spend more than X minutes on the site? Did they view more than Y pages? Did they add to cart? Are they visiting on mobile?

All of these data points personalize the messaging for retargeting campaigns.

But even a talented campaign manager can juggle only so many variables. Eventually, you end up with tons of segments that are difficult and time-consuming to manage. 

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