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What I would do in this position is surface and document all of these issues in their current state, propose a plan with your own solutions, implement those solutions, compare your results to the previous and show the incredible value you’ve brought to the company, then ask for a promotion and/or a big raise. 😎
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This sounds like an amazing opportunity to shine to me! Take advantage of this OP!
The only thing that I can think of with poor results like that is your demo selections are not targeting the right people OR the content isn’t enticing enough to generate clicks or comments. To spend $180k and get little to no results could also be a mismanagement somewhere… I could just be seeing red flags though.
What industry is it, if I can ask? I can’t imagine paying that much for only 10% of the targeted listing to actually interact… they’re missing out on so many more leads.
Re-do your funnel - Facebook = high funnel- don’t blow money here… LinkedIn = conversion (high- mid funnel)… spend more, for finance I would spend most on referrals- people want financial services based on those who they trust
Before automatically concluding it was mismanaged....(and I'm not saying it wasn't)
The fact you were advertising on LinkedIn suggests to me this is some sort of B2B campaign.
Assuming it is, the missing info here is how much a sale is worth.
I've worked on three B2B LinkedIn ad buys where a closed sale - once it's made - results in a million in first year revenue and more with each subsequent year.
So you might have a high cost per lead, but you've got to work it all the way through to closing rate, revenue, margin and profit.
This in and of itself doesn't disprove dereliction...but I've worked on campaigns where this wouldn't cause me to bat an eye.
I agree, I’ve worked with high spend pay clients, but they actually are generating revenue from it where you can justify that high spend. It just seems like no one realized that something wasn’t working, or someone was just throwing darts into the void, untargeted.
I read the word funnel in this post one more time. Lmfao
Use an agency if you don’t! Turn to paid search! Get more enticing content! :)
Id get a new job or hire new/other qualified marketers because you new a new strategy, redefined KPI’s and target marketing, research and analysis. It just seems like this was a classic case of some asshole who had no idea what they were doing when they were hired and had no marketing experience created a whole smoke and mirrors foundation that made it look like there were insights and engagements at first so that they could keep what they had going, but doesn’t seem like there was any Or is any expertise going on in the department, which is why I absolutely hate when I get hired for companies that have a whole team of incompetent frauds
Are you B2B or B/D2C? Also sounds like your audience is way too small. Did you do LAL audiences as well? We are D2C and our Meta performance has been very challenging this past year. Have had to switch up weekly with microoptimizations to keep performance up. Google and (believe or not) Bing have been very positive for us.
Got it. Meta may not be a very plausible option for you then or just use it for awareness/top of funnel. I’d try Google Perf Max to start. Agree on your ROAS objective and refine your creative assets and headlines to your funnel audience. Sounds like you’ll do a much better job than your predecessor.
So a few things:
1) are you able to trace back your ROI with the LinkedIn ads? If the revenue yielded higher than spend with the conversion - then maybe pulling the plug isn't the right approach because you can justify the spend, whether it had been mismanaged or not.
2) you should evaluate your target audience on both platforms and re-assess if your targeting measures are right. Sometimes all you need to do is tighten up and adjust your target to fix the issues.
3) see this as an opportunity to evaluate what worked and what didn't so moving forward your campaigns will be better managed.
Definitely sounds like a mismanagement. What KPI are you aiming for? ROAS? CPATC? Simply CPM? Will impact value of campaigns depending on where in funnel your objective is and what the algorithm is targeting. Short term, identify quick optimizations and ensure your targeting parameters have a good audience size to spend ratio. Broaden your audience if need be, particularly in awareness plays, and in order to boost retargeting sets. Long term sounds like you’ll definitely need to revamp strategy entirely. If you can quick turnaround a plan/strategy (and if there is little red tape), you could ensure the new year is a fresh start in all campaigns.
I really hope they do get fired though, that’s so waste.
The reason for marketing is clearly to throw away money as most people come to BestBuy after watching promotions from product manufacturers and don’t give a crap about online marketing, another hit is that people will come into the store to buy and not buy online, or they’ll call and order over the phone or they’ll order through chat without using the link. The overall efficacy of ads is the clock and purchase which is almost never the case
Best Buy is the best place to demo things I’ll buy online later for cheaper
Have you considered building out an affiliate marketing funnel?
Would take a close look at the content (is it engaging for your key audiences? Optimized to your goals?) and paid strat (ad unit, placement, targeting) to be sure they are aligned to what you are looking to achieve.