The Perfect Workout - How closing the reporting gap led to hacking the Facebook AI
When we started working with The Perfect Workout, they had 29 independent workout studios and were acquiring new customers via newspaper wraps (covers over the newspaper that was home delivered).
As you can imagine, newspaper advertising was on the decline. Our job was to find new customer acquisition methods.
As is usual with most new clients, we started with measurement. Because what gets measured, gets improved.
We optimized the companies KPI’s to ensure full funnel attribution. Key Performance Indicators, or KPIs, are critical to measuring the successes and failures of your business.
To have a good KPI process, a company needs to walk through 3 steps:
Learn which KPIs are the most important for your individual business and trim away vanity metrics that don’t move the sales needle.
Have at least one KPI for each stage of the marketing and sales funnel to track fallout points.
Develop a consistent monitoring process so you can discover problems that arise as early as possible.
When we first started working with The Perfect Workout, we were testing different lead generation channels such as Facebook leads, Google, print, radio, you name it. They were tracking KPIs for their initial leads but lost sight of what happened between the lead on Facebook and the on the ground sales and marketing efforts of their teams.
To track lead conversion rates throughout the funnel (often called lead “attribution”) we created a database that linked names and emails from all different sources and matched them up together.
That's when the real magic started.
We fine tuned the tracking until we could directly tie the true bottom line revenue and profit all the way back to the specific ad, date of initial contact and timeline of interactions.
Armed with these insights, we were able to hack Facebook’s AI more quickly and generate far better ROI on ad spend. To ensure the Facebook AI was building predictive models on the correct data, we needed to ensure Facebook was looking at more than just clicks or leads, but looking at actual offline sales.
The end result of our tracking, and the solutions that tracking helped us implement were key to growing The Perfect Workout from 29 to 72 locations in 3 years.
To discuss how your company might improve their tracking and attribution or to strategize ways to monetize those metrics into actionable strategies that improve your marketing efforts, let us know. We’re here to help.