There have been some pretty radical changes in the world of digital marketing over the last 15 years. From display banners to textual search ads to the constellation of techniques, media and marketing technology (martech) that we have today have lead digital marketing solutions to greatly evolve. Participating and learning during this period was Al Campa, CMO of cloud business communications and collaboration solutions provider RingCentral, and our guest on this episode of Moneyball for Marketing. Al talks about his lead generation engine, martech stack, acquisition cost, lifetime value, culture of testing, prediction analytics, data management, metrics tracking, KPI, churn rates, attribution, display re-targeting, SEM, trade shows, sports sponsorships and the balance between the creative and analytics. It’s a whopper of a podcast. Here are a few of the subjects touched upon:
Go slow to go fast: “If we just…invest in the sweet spot, we’d be the most efficient 200 million dollar company in the valley. But our ambition is to go beyond that and be the next billion-dollar company,” says Al with reference to selecting where marketing dollars get applied. He suggests that segments where acquisition cost is the most attractive are not necessarily the ones that are going to fuel major growth, and shares his “test and invest” remedy.
Software Psychics: “We’re able to predict this quarter’s revenue, next quarter’s revenue based on the span of 2 percentage points on a very consistent basis,” says Al. He explains the 14 channels of their lead generation machine and reveals the adopted martech and internal predictive system that powers that extraordinary precision. Moreover, he shares how being “right over and over again” builds trust within the organization to allow his team the latitude it needs to implement its digital marketing solutions.
Touching Base: Al takes a swing at first touch, last touch and U-shaped attribution models, and shares a personal anecdote from RingCentral’s playbook, wherein the organization measured how the end of baseball season affected its traffic, as the company’s San Francisco Giants centered ads stopped running. He then shares his philosophy of balancing the analytical approach of digital marketing solutions with the creative approach of branding.
Glenn Gow is an expert in marketing performance, Coach, Board Advisor, Author, Speaker, Podcast Host and Founder & Advisor of Crimson Marketing. Follow me on Twitter, LinkedIn, Google+. To get a free copy of Crimson’s One-Page Marketing Metrics Funnel, visit here.