MXT Media

MXT Media UK-based Digital Marketing Agency

Working with progressive business owners to skyrocket growth 🚀

Word of mouth can be one of the best ways to grow your business without spending any money on ads.Referral programs can ...
03/08/2022

Word of mouth can be one of the best ways to grow your business without spending any money on ads.

Referral programs can be a great way to achieve this and this will almost certainly increase the LTV of your customers.

Once you can increase the LTV of your customers, then this will open up many doors for your brand and will ultimately give you the margins you need to scale.

No matter how well you market your brand, or how much traffic you get, you are not likely to get sales with poorly optim...
02/08/2022

No matter how well you market your brand, or how much traffic you get, you are not likely to get sales with poorly optimised product pages.

Here are some examples of actions you can take to optimise your product pages for your Ecom store:

1. Use high quality product photos.

2. Optimise your store for mobile (You are likely receiving much more traffic on mobile rather than desktop).

3. Make sure you display reviews on the product page.

4. Make sure the product descriptions explain the product exactly.

5. Upsell & Cross-Sell relevant products.

6. Offer ‘Buy now, pay later’ options.

7. Have a high website load speed.

8. Have a FAQ section answering the main hesitations and questions about the product.

Should you use ‘ROAS’ to measure the performance of an advertising campaign?ROAS (Return On Ad Spend) - Is not projectab...
01/08/2022

Should you use ‘ROAS’ to measure the performance of an advertising campaign?

ROAS (Return On Ad Spend) - Is not projectable, actionable or stable. It is highly relative and we cannot optimise towards it, you cannot base your business growth and objectives on an out-of-context data point which is a reaction of multiple variables we cannot control.

ROAS is also a product of the CPA & the AOV.

The AOV is a product of the landing page and the offer - not something we can control on the ad side of things. So when we focus on ROAS, we are focusing on a high stress and low-confidence situation.

Also, ROAS doesn’t take into account the COGS (Cost Of Goods Sold) and the LTV (Lifetime Value) so in some cases where your ROAS looks ‘bad’ it could be wildly profitable.

And the larger the LTV is then the higher the CPA can be.

The profit per transaction is far less important than the profit margin per customer journey - ROAS & MER can’t measure this.

What we should be using to analyse the performance of an advertising campaign is PSM (Profitable Scaling Margin).

If your CPA or COGS is highly volatile, then it becomes extremely difficult to plan against a profitable PSM.

If you can’t plan 30 days, 3 months or one year into the future you’re going to be reactionary.

Every action your business takes, every interaction with someone, is a chance to strengthen your brand and create an exp...
12/07/2022

Every action your business takes, every interaction with someone, is a chance to strengthen your brand and create an experience, to tell your brand’s story in the way you want it to be told.

Branding is beyond logos.

Branding is beyond visual appeal.

It is now the language of your business.

1. Ads do the targeting. This is an unarguable fact.Facebook knows exactly what type of content is more likely to resona...
11/07/2022

1. Ads do the targeting. This is an unarguable fact.

Facebook knows exactly what type of content is more likely to resonate with one type of person over another type of person, therefore you should look to create content which is likely to cause the end user to take action and leave them with a positive user experience (otherwise you are a liability to Facebooks business model)

2. By utilising Dynamic Creative what you’re doing is centralising all of your data and making it easier for Facebook to optimise and manage your ad campaigns.

Facebook will combine all the elements you give it to build the best ads.

However when your not using Dynamic Creative, each ad you run has its own post ID and if for example you have 3 campaigns with 4 ad sets and 4 ads in each ad sets, you now have a lot of post IDs - This is where things start to get a little bit messy and if you don’t have the budget or the expertise on how to manage this you are likely going to see higher ad costs.

3. Time after time we see brands promoting 4, 5 or 6+ different offers at the same time within their ads and that’s a mistake.

It is far easier to do one thing really well and see success than it is to scale a business by doing five things very poorly.

4. ROAS is not actionable, it is not stable, it is not projectable and it is highly relative.

You cannot base the success of your advertising campaigns on a metric that is a reaction of multiple variables you cannot control.

What you can control is the CPA (Cost per Acquisition). There are two things we can do when it comes to CPA.

We can get more efficient at making a sale for that specific product or offer and you will have a larger margin to scale.

Or if you stabilise the CPA then you can work on increasing the LTV (Lifetime Value) by working on what happens after the click.

5. The main equation we need to be looking at when it comes to scaling your DTC Ecom store is PSM (Profitable Scaling Margin) - one way to improve your PSM is by increasing the LTV of your customers.

The higher the LTV, the more you can spend to acquire a customer.

And we all know the person who can spend the most to acquire a customer wins.

Should you use CBO or ABO when advertising?Ultimately, when advertising on a machine learning platform there is only one...
11/07/2022

Should you use CBO or ABO when advertising?

Ultimately, when advertising on a machine learning platform there is only one winner in the long run.

CBO will almost always beat ABO in the long run because ABO, is built on guessing the future with poor information.

CBO capitalises on the ability for Machine Learning to make decisions for you in real time.

When using ABO, you are retroactively looking at performance to make decisions and therefore you are completely unable to plan for the future.

Let’s give the system the best chance to win by giving it the best choices to make and staying out of the way.

How could less data in more places possibly be beneficial?

The best long-term setup would be to embrace CBO whilst utilising broad targeting.

Ads do the targeting (this is an unarguable fact) - Facebook shows content to people who want to see it.

When using ABO, you are sometimes even restricting some ad sets from spending more (even if they need to) & you are also forcing some ad sets to spend a certain amount (even if they didn’t need to on that day)

More options in more places = less stability

We’re not saying to never use ABO but Facebook has been asking everyone to switch to CBO for years now, there is a reason for this.

Your content is key.You need your content to align with the platform(s) you are advertising on by providing its users wi...
14/06/2022

Your content is key.

You need your content to align with the platform(s) you are advertising on by providing its users with a positive experience with your ads.

You’re essentially paying for your content to reach more and more people and if you disrespect your ad platform(s) by promoting content which provides a negative experience for the end-user, that is when you start seeing crazy high CPMs and other increased ad costs.

The likelihood is that the platform knows exactly which type of person is likely to resonate with one piece of content over another piece of content so by having engaging content which your ideal audience will resonate with, then the ad itself will know exactly who to reach and the goal is to master this (Creative Testing) at scale whilst utilising broad targeting.

Increasing the Average Order Value (AOV) can be one of the best ways of maximising your advertising returns and there ar...
14/06/2022

Increasing the Average Order Value (AOV) can be one of the best ways of maximising your advertising returns and there are a number of ways to consider when looking to increase the average order value.

Upselling and cross-selling can be a great way to increase the average order value, some ways to do this would be by installing a one-click post-purchase upsell or you can decide to have cross-selling widgets on either the product page, cart page or checkout page. There are some great Shopify apps which can be used to achieve this however please be aware that for some features you may need to be on the Shopify Plus plan.

Creating product bundles also allows the user an easier method of purchasing multiple items, if your store sells individual products which could be packaged up as a bundle then this could be really powerful as if they happened to purchase these products at the same time (Rather than at different dates) then you would also save additional costs such as shipping fees and marketing costs which you may have incurred if the items were bought on separate occasions.

Offering free shipping over a certain threshold is another way to consider when looking to increase the AOV, an example of this would be to set a free shipping option at around maybe $20 over the current AOV, this could be a great way to entice the customer to purchase additional items as from the customer’s perspective they will be saving on shipping costs.

A good example would be to have a relatively low ticket, high margin product as an upsell on the cart/ checkout page.

I would always recommend building and leveraging a customer loyalty program as not only can this improve the AOV, this will almost certainly have a positive impact on the Lifetime value of your store. This additional Lifetime Value could be crucial when scaling as it could give extra playroom when establishing a stable CPA (Cost per Acquisition).

You could also take this one step further and build a community and involve a subscription feature which again could be great for cash flow.

Should you run discounts in your ads?The simple answer is no.Discounts and sales are a tactic used by retail stores to c...
14/06/2022

Should you run discounts in your ads?

The simple answer is no.

Discounts and sales are a tactic used by retail stores to clear shelf space and turn over inventory.

The square foot costs for retail stores don’t fluctuate as online advertising costs do therefore for retail stores, depending on the circumstance, it can make financial sense to take these losses as it creates more opportunities for profit.

When you run discounts on your DTC prospecting ads what you’re ultimately doing is usually attracting a lower-quality customer to your store which will likely hurt the overall Lifetime value.

Not only that but you are also taking less revenue from that order by offering a discount for the sale.

I’m not saying to never run discounts but please be careful when running them, especially at the top of the funnel.

When it comes to periods of time like Black Friday, often we see that the cost of advertising increases (Due to the fact that there are more advertisers advertising on the platform meaning there is less ad inventory available, driving the cost up) and in these situations, if running your strategy is running discounts then the type of customer you are attracting with your ads will likely be of a much lover quality therefore when running discounts in times like Black Friday what you’re actually doing is paying more money to advertise to a lower-quality customer which is also damaging your Lifetime value.

An alternative to discounts would be to offer certain product bundles at a slightly discounted rate as you will be increasing the AOV and also saving on other costs such as shipping fees and marketing costs, which increases the profit margin on that order.

Time after time we see brands promoting 4 or 5 or 6+ offers at the same time within their ads and that’s a mistake.It is...
13/06/2022

Time after time we see brands promoting 4 or 5 or 6+ offers at the same time within their ads and that’s a mistake.

It is far easier to do one thing really well and see success, than it is to scale a business by doing five things very poorly.

When deciding what offer to use, consider these three points:

- Which product has the most desirable PSM? (Profitable Scaling Margin)

- Which products are customers likely to buy repeatedly?

- What is the business’s goal at that specific moment in time? (Cash flow or profit margin)

Focus on finding the best fit offer for your media dollars to amplify the return on your investment and eliminate everything else.

Why broad is the best audience to rely on using Facebook ads.Broad is the cheapest and most stable audience.Interest gro...
13/06/2022

Why broad is the best audience to rely on using Facebook ads.

Broad is the cheapest and most stable audience.

Interest groups are being deprecated by the 1000s and are more expensive.

The scientific method involves a control and a variable, whenever you change any element of the control, you invalidate the test on the variable.

So when you start ‘hacking’ audiences and ‘hacking’ bidding models, what your actually doing is changing the volume and quality of the traffic to your site.

After you have established a stable CPA on Facebook as soon as you change the control it makes everything you do after the click as far as testing is concerned irrelevant. So you can’t test landing pages, email journeys, or conversion rates because the control is non-existent.

The absolute most important and powerful tool you have is your content.The highest priority when creating any content fo...
13/06/2022

The absolute most important and powerful tool you have is your content.

The highest priority when creating any content for social media advertising is creating content that resonates with the end user.

Facebook at its core is a market research and intent creation device. You have to understand its place in your overall ecosystem.

Ultimately Facebook‘s (Our business partner in this instance) goal is to keep the user on the platform and provide them with a positive experience.

By creating content which doesn’t align with Facebook’s goals, we are almost guaranteeing higher CPM‘s and other increased ad costs.

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