Or, to invest in what's critical but less measurable, make sure you win trust internally with what "is measurable". Here is what we're doing at Kraken Digital Asset Exchange.
Level 1 -----
Obsessing 1000% over everything that is measurable/attributable to the T:
- Pushing really hard to drive tangible, measurable growth
- PLG x Performance x Organic levers x Lifecycle ++
- every step of the funnel, onboarding, activation, habit creation
- fighting for every bps improvement
- ultimately accountable for payback period at diff stages
- of course underneath is all slices of CAC, LTV, retention, ARPU
- by cohorts, by product, by channel
- ...
This builds trust in Level 1 internally with the leadership, with finance..
Level 2 ----
Then you bring the brand/upper funnel spend, do what we believe is irrational at times, more emotional than tactical, more cultural but still rooted in our core values and product... and we combine all of it:
- Overall payback period
- Fully loaded CAC with all organic and paid users
- LTV post gross margin
- again all slices of data - by product, by geo, by user cohort
- ...
Level 3 ---
Now you have earned the right to spend because your overall payback period looks strong... but you still want to optimize every single dollar, so we measure just the upper funnel spend in of itself:
- AB tests to prove incrementality
- Match market tests - helps in crypto since crypto prices re constant
- MMM modeling
- Of course just pure Brand KPIs
- Proxy KPIs --- share of search, direct traffic, user engagement
... etc
All of this starts though with building the "internal trust" with data, obsess over what you can measure, optimize every bps of growth and you have a chance to spend on what's hard to measure and BTW --- should stay hard, otherwise its not inspirational enough!!!
growth brand performance marketing
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