Jonathan Becker: belief

Transcript context

…What about the second part of that question of when you think about when companies come to you. What do you look for to help you understand this is going to be a really good fit for performance marketing and this is going to give them a lot of opportunity to growth, versus maybe not, maybe it'll be a small sliver but it's not going to be a massive success for them? Yeah. I would say that the answer to that question is different at different stages of a company's life cycle. Early stage, look at what the company is doing, look at your own company. Have you established product market fit? Is this an idea that has yet to be tested, and are they entirely looking to performance marketing to scale everything? Are they at risk of it becoming an over-reliance on performance marketing? At a later stage we look at certain criteria that they might or might not possess. Typically, that will come down to resourcing. The question at a later stage is not, does it work? But, to what scale can it work? And so we are looking at things like, do they have adequate creative resources and buy-in? Does creative resourcing tie into performance, and can we create a feedback loop there around testing? I'll talk to you about that in a bit. Do they have professional marketers on staff? Are there people who have experience doing what we do, that speak our language so to speak? Or is part of this an organizational educational, and creating buy-in through stakeholders process that needs to take place? Do they have technical resources? If we say, "Hey, tracking and attribution is broken, here's how to solve that." Can you implement it? And so on and so forth. There's no one magic formula for what works or what type of company will be successful on performance marketing channels. Just as evidence of this, Google, which I think had a down quarter reported sales this week, and it was $70 billion in three months. And Facebook similarly just recorded yesterday evening, and it was $32 billion. That's $100 billion on just Google and Facebook in three months, and the majority of that revenue is from ads. This works really well for lots of different companies, it's just a question of at what scale. Just to pull an thread a little bit more. Something I've heard from other guests is that paid ads are best for products where you get basically payback really quickly, basically to feed the flywheel of spend so that you're not sitting around waiting for someone to buy something in the future, or it's a small trickle of pay. How important is that, I guess? Do you find that you could just do paid growth for any company, it doesn't matter their business model? Or is there something you're like, okay, this needs to exist for you to invest serious resources? And even hire that team that you just talked about.…

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