If you ever plan to grow a digital business to any substantial size.
This is the most important tweet you’ll probably never read.
Two things are imperative to know when scaling an online business.
1. Incentives
2. Attribution
👇
This is the most important tweet you’ll probably never read.
Two things are imperative to know when scaling an online business.
1. Incentives
2. Attribution
👇
*Incentives*
I don’t mean your customers incentives. @BowTiedBull has already covered how to sell and provided a ton of resources.
I mean your supposed “partners’” incentives. Agencies, advertising networks, employees, etc. People that you pay to help grow your business.
I don’t mean your customers incentives. @BowTiedBull has already covered how to sell and provided a ton of resources.
I mean your supposed “partners’” incentives. Agencies, advertising networks, employees, etc. People that you pay to help grow your business.
Know that they absolutely don’t care about your business growing. At all.
They care about the money you pay them and making you believe they provide value for that money.
*Which is fine. As long as you know that.*
They care about the money you pay them and making you believe they provide value for that money.
*Which is fine. As long as you know that.*
Advertising networks try to make you believe that that they provide more value (sales) than they did by using shady attribution models.
Agencies do the same by touting the crappy metric and maximizing a metric that doesn’t translate into sales.
Agencies do the same by touting the crappy metric and maximizing a metric that doesn’t translate into sales.
Employees tout their management of the agency or metric since the agency is the “specialist”.
All the while, nobody actually knows what’s driving the business forward or how to maximizing your precious spend.
Why? Because they’re all incentivized off of the wrong things.
All the while, nobody actually knows what’s driving the business forward or how to maximizing your precious spend.
Why? Because they’re all incentivized off of the wrong things.
*Attribution*
What is attribution really?
It’s what made people buy the product.
Not the copy. Not the product. Not the emotion.
The where and the how of the what.
What is attribution really?
It’s what made people buy the product.
Not the copy. Not the product. Not the emotion.
The where and the how of the what.
The copy, product, and emotions are all very important. But only if they’re shown to the right people at the right time.
The larger you become, the harder it is to figure out what caused the sale for the majority of your customers.
The larger you become, the harder it is to figure out what caused the sale for the majority of your customers.
You eventually get to the size where the best answer (impossible) is attribution modeling.
You’re relying on regression modeling to find correlation because causation is impossible.
This is inefficient and why the small players can grow quickly and the big players can’t.
You’re relying on regression modeling to find correlation because causation is impossible.
This is inefficient and why the small players can grow quickly and the big players can’t.
This is why *constant* testing, questioning, and analyzing is important *while* you grow.
This is your edge compared to larger competitors.
For more on attribution 👇
This is your edge compared to larger competitors.
For more on attribution 👇
https://twitter.com/bowtiedopossum/status/1395962197000470528
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