Post on 27-Oct-2021
5 Step Execution Plan To Adapt To COVID19
WARNING
This Is Going To Be A No BS Training● I’m not going to sugar coat anything● I’m going to be direct with you● I’m going to tell you what’s working and what’s not● And you might feel called out or uncomfortable during parts of it● We are going to talk about what it takes to lead and control your environment● This isn’t meant to be “what you want to hear”, it’s “what you need to hear”
Here’s The Reality
Reality● We are in a pandemic and start of a recession● This is collapsing economies● Collapsing industries● Impacting how we work● Impacting how we live
Most Importantly For Us:
It’s Impacting How Customers Buy
What Does That Mean?
Transforming Behavior● What’s important to your dream customer● What are they (re)prioritizing right now● How they make their decisions today● How are they looking at the future with this level of uncertainty● What are they consuming (and how often)● What time of the day they are buying
Monitoring Tool 1 - Within - Link
But The Question is:
What’s Changing For YOUR Market
That’s The Focus Today
● What’s going on in your business● What’s going on with your existing customers● What’s going on in your prospective customers● And what to do about it in your business● Specifically, the 5 step action plan to implement
“Your” because every market, average order value , customer type and product type is different. React accordingly.
Focus
Quick Context
About Me● My name is Nehal Kazim - FB | Linkedin● We run a Facebook ads agency● Work primarily with 7 figure
DTC subscription companies● Focus: scale to mid-7 figure / 8 figures● Spend $800k/mo on Facebook● Super star team of 10
About Me● Have trained media buyers at masterminds like Molly Pittman + Ezra Firestone● Have trained marketers at Digital Marketer and speaking at T&C this year● And now, I get an opportunity to train YOU, thanks to Wilco :)
Through This Process
We Are Learning A Lot
It’s Exposing The Truth
Exposing The Truth Of...● Your resilience as a leader● Your/your team’s ability to problem solve● Your/your team’s ability to make difficult decisions● How you make decisions under distress● Your commitment to your family, your team, your clients/customers● Who has your back and who doesn’t● How you handle emotions with uncertainty
It’s Important What You Focus On
Here’s what we are focused on...● Real numbers: totals, cost per, ratios● Bottom line: what’s working vs. what’s not● What do we know: ad delivery, AOV, conversion rates, fulfillment, sentiment
Notice: this is an emotional time. We are making decisions as much on metrics.
Focus of Decision Making
5 Step Plan
1. Urgency and implementation decisions2. Offer decisions3. Media buying decisions4. Creative/ad decisions5. Business decisions
5 Step Execution Plan To Adapt To COVID19
Let’s Go 1 by 1
Before I Start
Please Be Gentle With Yourself
Let’s Go 1 by 1
1) Urgency
UrgencyWhat I’m seeing:1. Rapid problem solving + implementation (24hr: idea to execution)2. Slow analysis, slow decisions, slow implementation (5 days: idea to execution)3. Little to no analysis, decisions, implementation; no action / freezing4. Gave up: apathy: “what’s the point? Tests are going to fail, no one is spending”
Which One Are You?
UrgencyWhat I’m seeing:1. Rapid problem solving + implementation (24hr: idea to execution)2. Slow analysis, slow decisions, slow implementation (5 days: idea to execution)3. Little to no analysis, decisions, implementation; no action / freezing4. Gave up: apathy: “what’s the point? Tests are going to fail, no one is spending”
Where To Audit Urgency
Idea → Analysis → Development → Launch1. Speed of analysis2. Changes in targeting3. Changes in budgets (scaling, slowing down or pausing)4. Changes in copy5. Changes in creative6. Changes in new offer development7. Speed on internal meetings8. Speed of coordination / feedback9. Expectation of Idea → Analysis → Development → Launch (24hrs? 7 days?)
Urgency
2) Offer Decisions
Offer Decisions● If you have multiple offers, now may be the time to change them● If fulfillment/3PLs shut down, you have to make adjustments● A client has a digital offer in addition to their physical
○ Getting that funnel ready to launch● Physical/In Person offers? Launch digital offers● People concerned about high ticket offers? Launch mid ticket offer● It’s time to get creative
Offer Decisions● One of our clients has a preworkout, main offer that converts on cold● Mid-march, buyer behavior started shifting● Thankfully, they had an immunity product● Shifted focus● Breakeven TOFU = 180%, this product is 200%● MOFU and BOFU is 450%+
3) Media Buying Decisions
What’s Working Vs. Not
1) Media Buying DecisionsFirst off, what’s actually working/not working: we are seeing ● Lower CPM (20% to 40% lower)● Lower CPCs (*in some cases higher)● Lower CTRs (link)● Lower conversion rates ● Same AOV
● Are you profitable? FB vs. real life● What’s the 1 offer that’s working?● What is/are the avatars that are working?● What’s the account structure that’s working? CBO/ABO● What budget sizes are working at the CBO/ABO level? 1x target CPA / 3x● Budget:
○ Account Wide○ Prospecting: Top of Funnel ○ Retargeting: Middle + Bottom of Funnel
● Is the priority scale to mass acquire customers or profitability? Scale or Profit?● Where to invest time: prospecting or retargeting
Media Buying Decisions
Testing - Graduating (Scaling mode vs ROAS Protection mode)1. ABO: 1x target cost per acquisition: $60 ($40) - testing just targeting
a. Minimum 2 days, ideally 3 days2. ABO: 3x target cost per acquisition: $60x3 = $180
a. Campaigns: $200-300/day budgetsb. Duplicate the same ABO (assuming audience is big, 5mm+)
3. CBO: lowest cost - 5x target cost per acquisition = $60x5 = $300
Media Buying Decisions
1. Offer2. Avatar3. Funnel4. Nurture5. Ad6. Ad Optimization7. Tracking
Ad Scorecard
● Proactive vs. Reactive● Evergreen vs. Seasonal● Receptive vs. Skeptical
Highest LTV + Highest AOV + Bundle
4) Creative/Ad Decisions
What’s Working Vs. Not
2) Creative/Ad Decisions● For some clients, everything stopped working● We have to hustle to change that angles, creatives, copy, etc● What’s working: if your product is made in the USA, tell them
○ Super important, please don’t take it lightly
2) Creative/Ad Decisions
2) Creative/Ad Decisions● For some clients, nothing is working● We have to hustle to change that angles, creatives, copy, etc● What’s working: if your product is made in the USA, tell them
○ Super important, please don’t take it lightly● Have inventory? “Stock up!” messaging● Make it relevant: Kids at home? “Homeschooling” messaging
○ Protect○ Take a stand○ NOW is the time
● Stay away from very direct immunity messaging
5) Business Decisions
Business Decisions● If you shut down● Where your team works from● How you handle customer service● What you focus on ● What you control● What offers you make
Time to Lead
Time To Lead● You decide how to act● You decide if you are proactive or reactive● You decide if you want to lead or follow● You decide if you’re going to be a victim to something you can’t control or lead● You decide when your family, your team and your customers are looking at you● Time is now● Look at the information you do have● Look at what you can control● And lead
Thank YOU + Q&AFB | Linkedin: Nehal Kazim