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Blog: Multi metric analyzing

How Multi-metric analyzing is key to data-driven marketing

By News

Multi-metric analysis in a data-driven digital strategy. In today’s digital landscape, data plays a crucial role in the success of a business. However, relying on a single metric to measure performance can be misleading and lead to poor decisions. 

A multi-metric analysis allows you to better understand your digital performance by looking at multiple aspects of your data. This blog will explore the benefits of a multi-metric approach and why it is important for a data-driven strategy. 

We will also provide some practical tips and best practices for implementing this in your business. So, whether you’re a small business owner or a marketing professional, this blog is for you. Let’s dive in!

There is no silver metric.

We all use metrics since we wouldn’t be able to show our added value to the company without them. Furthermore, we also use them to diagnose causes and project future events. 

Measuring marketing activities allows marketers to make informed decisions and paint the picture of how well they use current resources. In other words, if you can’t measure it, you can’t manage it.

Some marketers measure their success based on one metric. But basing everything on one metric is like writing an entire thesis using only one source. In the end, it does not say much. 

But that is like painting a picture with only one color. Without taking more metrics into account, you will not be able to distinguish the whole picture.

What is a multi-metric approach?

It is what it’s in the name. It is analyzing multiple metrics to steer your marketing efforts. By doing this you can single out things that are not performing well. for example

If you solely focus on ROAS and CAC you will miss out if your advertisements are performing well enough. let me give you two scenarios.

Clicks: 500

Conversions: 50

Revenue: 1000$

Ad spend: 500$

These are nice to look at right? Do the math: CAC of only 10$ and a ROAS of 2. For any small business these numbers are nice to look at. But what if the impressions are 30.000? That means the Click Through rate is only 2%. 

Now you will draw very different conclusions right? Why is it only 2%? How are we able to increase this? Maybe if we increase the amount of clicks, conversions will be higher?

That is the right way of thinking.

Now example 2, this one will be more in depth and reveal causes outside the advertising.

A company has a high ROI of 200% and a low CAC of $50 per customer. This may seem like a winning combination, but it could mask a deeper issue in the customer journey. For example, the company may be acquiring customers through aggressive discounting and promotions, which are driving a high volume of short-term sales, but are also causing a high rate of customer churn.

A multimetric approach would reveal that while the company is generating a high ROI and low CAC, their customer retention rate is only 10%, meaning 90% of their customers are not returning to make another purchase. This is where the lifetime value of the customer comes in, and the company will see that the lifetime value is not high enough to sustain the business and that the customer acquisition cost is not justified.

By taking a more comprehensive approach to measuring marketing success, the company would have seen that their focus on short-term sales was not sustainable in the long run and that they need to work on a better retention strategy. This can be achieved by focusing on building brand loyalty, improving customer service, and creating value for the customer beyond the initial purchase.

It creates a holistic view 

Implementing a multi-metric approach in your marketing efforts allows you to gain a more holistic view of how your campaigns are impacting different areas of your business. By using multiple metrics to evaluate the effectiveness of your strategies, you can gain insight into areas such as lead generation, customer engagement, and sales. This allows you to make more informed decisions and optimize your strategies for better results.

Additionally, by regularly monitoring and analyzing your data, you can make adjustments to your marketing strategy as needed to improve the overall performance of your business. And by sharing the results of your multi-metric approach with stakeholders, you can demonstrate the value of your marketing efforts and gain support for your strategies.

How to implement it

Implementing a multimetric approach to marketing can be done in a few key steps:

1. Identify key metrics: The first step is to identify the key metrics that are most relevant to your business and marketing goals. These might include ROI, CAC, customer retention rate, lifetime value, and others.

2. Set up tracking and measurement: Once you have identified the key metrics, you will need to set up tracking and measurement systems to collect the data. This might involve using tools such as Google Analytics, customer relationship management (CRM) software, or other marketing automation tools.

3. Analyze and interpret the data: Collected data is not useful if it is not analyzed. This step involves analyzing the data to identify trends, patterns, and areas for improvement. It’s important to identify the key drivers of customer behavior, and to measure the impact of marketing efforts over time.

4. Make data-driven decisions: After analyzing the data, it’s important to use it to make data-driven decisions. For example, if customer retention rate is low, the company should focus on retention strategies, if the lifetime value is not high, the company should focus on finding ways to increase it.

5. Monitor and adjust: Finally, it’s important to monitor the results of the decisions made and adjust the strategy if needed. A multimetric approach is not a one-time event but a continuous process. Regularly monitoring the performance and making adjustments is essential to ensure that the strategy remains effective over time.

In conclusion, a multimetric approach is essential for any business looking to truly understand the effectiveness of their marketing efforts and drive real, sustainable growth. By taking a more comprehensive approach to measuring marketing success, businesses can identify areas for improvement and make data-driven decisions that lead to real results.

As a business, it’s essential to understand that digital initiatives, customer service, and social media are key components of a successful business model. The digital ecosystem is constantly evolving, and it’s crucial to stay on top of the latest trends and technologies. With the digital transformation and the rise of technology, it’s more important than ever for businesses to analyze metrics and measure success.

It’s important to remember that a multimetric approach is not a one-time event but a continuous process. Regularly monitoring performance and making adjustments is essential to ensure that the strategy remains effective over time. This is where Billy Grace comes in, our platform allows you to track and analyze metrics, measure success and make data-driven decisions, all in one place.

Businesses that want to stay ahead of the curve and build a profitable business should take advantage of our platform. We understand that running a business can be challenging, and our goal is to make it easier for you to measure success, improve performance, and make data-driven decisions.

Billy Grace Budget Optimization

The possibilities of Billy Grace’s budget optimization

By News

Its Advertising Cloud is one of Billy Grace’s many features that will allow you to automate certain aspects of your marketing campaigns. Billy Grace uses Artificial Intelligence and machine learning models to power your marketing and ensure your product or service reaches the right audience.

Since Billy Grace is your self-learning digital marketing partner. This means it cannot work solely without you. Marketing is not something that you can turn on and let go without giving any input. What Billy Grace can do is give you the absolute best of what you provide it with and it doesn’t need much. 

Why Billy Grace?

Billy Grace uses first-party data, data that is directly collected from your target audiences. This goes hand in hand with Billy Grace’s tracking pixel, which makes sure that everything that is being tracked is done so in an accurate way.

This, together with Billy Grace’s AI systems and machine learning algorithms, makes Billy Grace amazing at making the right decisions when automating specific tasks.

Why automate certain tasks within marketing? Because marketing has lost its aim. Nowadays, a marketer wastes large amounts of time looking for opportunities while analyzing data. 

This costs businesses insane amounts of money, and dulls the job of a marketer. Marketing is about working with people; yes, data makes online marketing a helluva lot easier, but it should never be centered around watching dashboards all day.

Digital marketing strategies should be enhanced with data; otherwise, we could have all studied data science. But we did not. We like to interact with one another and provide value to others (Not implying that data scientists are anti-social).

So what can you automate? Well, almost anything really, but let’s focus today on budget optimization.

Well, how does it work?

We would like to say something mysterious, like magic, for example. But that would make it look less complicated than it really is. Behind the scenes, a lot of machine learning models work day and night to create the best outcomes. That would be the most abstract answer, but we might be able to explain it through a metaphor. 

Yes! here we go.

Imagine you’re going to a casino with 200$. The casino only has slot machines; imagine those slot machines are marketing campaigns. You would like to know which one will give you the most returns or even better. How much do you need to spend on each one to get the best outcome?

In marketing, this is called budget allocation. By doing this yourself, you would spend a lot of your 200$ risking: little returns, and spending an insane amount of time to figure out which slot machines to use. 

Now imagine you brought your favorite co-worker: Billy Grace, who is the smartest man walking on this earth. He will spend a little of your money on every slot machine (marketing campaigns) and calculate & forecast which machine gives the most returns and how much money to spend on every slot machine.

This way, you will be able to get the maximum amount of money, out of all the machines(i mean marketing campaigns).

“But Facebook and Google use automated campaigns as well.”

Yes, that is entirely true. But they have something to gain here because those slot machines are owned by the house (Google or Facebook.) They have everything to gain from you spending money in their casino. 

And remember, “The house always wins.”

Billy Grace does not gain anything by spending more. On the contrary, Billy Grace has everything to lose by spending more. Therefore Billy Grace is always making sure that you spend as little as possible with the largest amount of returns possible.

The cherry on top is: Billy Grace is fully customizable. You can add conditions, for example: 

  • If campaigns do not perform or do not hit a goal requirement, Billy Grace can pause the campaign (This goal you can set yourself.)
  • You can add a starting and end date for each campaign
  • Cross-channel budget optimization

Who is steering the campaigns?

That is completely up to you. If you want to be at the ship’s helm, that is completely fine. Of course, for the quickest returns, you can give Billy Grace the ropes. Like said before, you can customize Billy Grace to behave how you want. 

If you do not want to spend more than a certain amount that is fine, you can add spending limits. Billy Grace will optimize as much as possible and will most likely spend less than the space given.

The surplus leftover from the total budget will be labeled as “Unallocated budget”. Billy Grace will not spend this, but will give strategic advice. 

Billy Grace will recommend that you to need to improve and change your campaigns and ad sets in your marketing channels. Things you can change, for example, different target audiences or new creatives. 

To conclude

To sum it up in a small summary.

Billy Grace is a digital marketing tool that uses artificial intelligence and machine learning to automate your marketing. It uses first-party data and its tracking pixel to make accurate decisions.

This saves businesses time and money by finding the best opportunities and allocating budget effectively. 

Furthermore, it allows for customization and goal setting, such as pausing campaigns that do not perform or setting specific start and end dates. 

You have complete control over the campaigns and can make any necessary adjustments. This makes Billy Grace the ultimate Swiss army knife for all your digital marketing needs.

Here are a couple of stats if you are not convinced yet

These are some of the things we have witnessed with our clients.

  • Billy Grace has reached 55% more conversions from Meta ads.
  • Meta ads have generated 97% more turnover.
  • 80% more turnover thanks to automation.
  • Decrease in Cost per action of 224%
Data driven marketing with magnifying glassed

What are the benefits of data-driven marketing?

By News

Do you know how to make the most of your marketing strategy? Data-driven decisions are essential for growing businesses, and the right data can give you more control over your budget and help you reach new customers. What do we mean when talking about data-driven marketing? In this blog post, we will explain why marketers should consider embracing a data-first approach to their processes and benefits.

Why Is Data-Driven Marketing Important?

It helps you reach the right audience

In marketing, you do not just want to find customers that only buy once. But you want loyal customers that would refer your product to multiple friends. With Data-driven platforms, you can learn about website visitors and what they do. They can also provide information like consumer demographics, online habits, and interactions with the webshop, which helps you target the right people.

It is the future

As the digital world grows, it is no surprise that marketing is going in the same direction. Data-driven marketing brings an extra layer of knowledge to a marketer’s arsenal, allowing them to target messages and products to their customers better. Companies have seen an impressive increase in sales and overall growth in consumer engagement. As technology evolves, data-driven marketing will become increasingly valuable, delving into different ways of reaching customers through custom messages or promotions.

Instantly see what works.

Data-driven marketing can be a game changer for your business. It provides you with an accurate and unbiased assessment of the performance of your marketing strategies, tactics, and campaigns, allowing you to hone in on what’s working and what isn’t. This means you won’t need to waste your time and money trying to guess what works – you’ll already have the answer! 

It can help you find your customers.

Understanding how customers find out about your company can be invaluable in helping you better reach your target audience. By using data-driven marketing tools, you can learn which websites and social media platforms draw visitors to your website or store. This data can inform the days and times you want to schedule targeted ads or campaigns on specific websites and platforms. Additionally, such data will illustrate exactly where your prospective customers are coming from and their interests so that you can more effectively advertise and market your products or services accordingly.

The benefits of Data-Driven marketing.

Targeted and personalized campaigns.

By utilizing data to better understand a customer’s individual motivations, needs, and behavior, a business can transform this insight into high-quality content that resonates with them personally. Data insights allow you to place your marketing material in the right places at the right times and create uniquely tailored campaigns for each customer.

Know what works and what doesn’t and why!

Understanding what content leads customers through the sales funnel is invaluable for marketers as it drastically reduces wasted time and money. Data-driven marketing makes this possible by looking at customer actions, preferences, and feedback to streamline your marketing strategy. With this data-driven approach, you can pinpoint which content resonates with customers, what practices work best and where budgets should be allocated.

Audience segmentation

As a marketer, you know the importance of delivering tailored messaging to your prospects based on their current stage in the buyer’s journey. To successfully do this, it is essential to segment these prospects by analyzing their behaviors, habits, and demographics. Taking this deeper level of personalization can help create more meaningful engagement with current and potential customers. Segmenting your prospects in this way will also make it easier to develop targeted marketing efforts that address the particular needs of each group, helping to increase the relevance and effectiveness of campaigns.

Better customer experience

Further incorporating customer insight into your marketing strategies will help improve the customer experience. Creating content that speaks to their interests, needs, and values will make an impression on them and stay top-of-mind. Moreover, it can be the deciding factor between choosing one brand or another. By collecting data about preferences and shopping behaviors, you can tailor your ad targeting, so it appears directly in front of your customers who have already shown interest in your products or services. 

Increased cross and upsell opportunities

Data-driven marketing can be an effective way to help with upselling and cross-selling, both of which aim to increase sales by encouraging customers to purchase additional or complementary products or services. By collecting and analyzing data about customer behavior and preferences, businesses can gain insights into what types of products or services customers are most interested in, and tailor their marketing efforts accordingly.

Billy Grace

Billy Grace is a top-performing digital marketing tool that makes marketing intuitive and efficient. It gives you unparalleled insights into your data and the ability to adjust your budget based on ad performance automatically. Plus, it helps you make better decisions and track the success of your campaigns. All of this makes Billy Grace a must-have for any proactive marketer looking to elevate their results.

Futuristic Circle / Artificial intelligence circle

How is artificial intelligence shaping modern marketing?

By News

Marketing is changing rapidly. With the arrival of new technologies. How we reach and engage potential customers differs from 15 years ago. In the past, many marketing tasks were done by hand. Marketers conducted market research through surveys and focus groups, and data was analyzed manually. Nowadays, much of this work is done by machines and artificial intelligence. Computers can gather and process vast amounts of data in a fraction of the time it would take humans and with greater accuracy. As a result, marketing campaigns are becoming more effective.

What is AI

The definition of AI, or artificial intelligence, is “intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans.” AI is essentially the science of programming machines to be smarter than we are by making accurate predictions based on large data sets.

AI in marketing is applying artificial intelligence to marketing tactics, strategies, or practices. Marketing has always been about understanding and appealing to customer needs and desires. 

Thanks to AI, we can understand consumers better than ever before. 

Different flavors of Artificial intelligence.

AI comes in many forms. Some more tangible than others. Let’s go through some of the flavors out there.

Copywriting

AI copywriters can create original and on-brand content for a company. In many ways, they can be seen as an extension of the marketing team.

One of the benefits of using AI for copywriting is that it can help to save time. This is because the AI can be trained to understand the style and tone that is required for a particular brand. As a result, it can produce content more quickly than a human copywriter.

These generated texts can help content creators eliminate their writer’s block. They are also able to come up with entire blogs.

Example

Examples of copywriting AI are:

  • Jasper.AI
  • Copy.AI
  • Open.AI

Augmented reality

With augmented reality (AR), you can use AI to blend the virtual and physical worlds seamlessly. How does it work? AI uses a camera to project a digital 3D model while attempting to scale it appropriately for the space it is projected in.

Examples

Ikea uses AR for its furniture. Consumers can use their app to project furniture in their own room and can get an image of what it would look like if they had that piece of furniture. Want to know how that closet will look like in your room? AR will paint the picture.

The video below will give you a better understanding of how the app works.

Machine learning

Machine learning is a type of artificial intelligence (AI) that allows computers to learn from data. If you wanted to write a program to identify mugs in pictures, you would need to write specific rules that would tell the computer what to look for. With machine learning, you could show millions of images of mugs and let it learn to identify them on its own.

Examples

Voice

Voice AI is an exciting technological development gaining widespread attention and use. Voice AI refers to Artificial Intelligence (AI) that uses human voice input to ask and answer questions, carry out commands, or interact with its users. Voice AI technology has developed significantly in recent years, and today it powers various applications that allow users to search the internet quickly and accurately via voice-enabled searches.

Examples

5 ways to use artificial intelligence in marketing

Lead management

Lead management is essential to doing business today, as it enables companies to keep track of leads and their journey through the sales funnel. Lead management systems use AI marketing to further streamline the lead capture process, by automatically qualifying and categorizing potential leads, sending out automated follow-up emails and recording and analyzing phone calls to better understand lead trends in a way that was never possible before. 

A/B testing

A/B testing can be a great asset to your marketing campaigns. You can determine what works best with customers by isolating variables and running multiple tests. With the help of AI, you can run more variations and maximize your budget. AI can select the best-performing ad variation without any effort. Machine learning also allows you to look deeper into the results and uncover factors that lead to better outcomes, as well as continue to learn what works best for your campaigns.

Budget optimization

Deciding how to best allocate a marketing budget across channels is a complex and time-consuming task that often leaves business owners feeling overwhelmed and frustrated. However, the latest artificial intelligence (AI) solutions offer much-needed relief. By leveraging AI, businesses can automate the tedious budgeting process in a single system and enjoy continuous optimizations for maximum return on investment. AI-driven budgeting platforms are just the beginning to take your marketing strategies up a notch; they offer improved accuracy and oversight, plus the opportunity to focus energy elsewhere to keep other parts of your business running smoothly.

Billy Grace

When it comes to digital marketing, Billy Grace stands out from the crowd. This system makes marketing intuitive and incredibly efficient, all while giving users an unprecedented level of insight into their data. Unlike other tools, Billy Grace allows you to automatically adjust your budget according to the performance of your ads, saving you time and energy in the process. Besides analyzing data Billy Grace is also capable of making better decisions. Therefore creating an uplift. Additionally, its comprehensive tracking capabilities make it easy to assess whether or not your campaigns are meeting their goals – making it a must-have for any proactive marketer.

Artificial Intelligence Infusing a Brand

How do brands use artificial intelligence in marketing?

By News

Brands are using artificial intelligence to target consumers with customized content and offers. AI can help create a personalized experience for shoppers, which is essential in today’s competitive market. Brands can learn about their customers’ needs and preferences and deliver content that appeals to them. In this blog post, we’ll explore how some brands use AI in marketing.

Amazon

One of the first companies to use artificial intelligence to create personalized shopping recommendations is Amazon. And over the past years, their algorithm has become incredibly sophisticated. Amazon can develop recommendations based on previous purchases and items that other customers have bought, browsing behavior, and many other factors.

Furthermore, Amazon is also using Artificial Intelligence to drive dynamic pricing. This means they can reduce prices for specific products when more sales are needed and increase prices when demand rises.

Amazon has also opened checkout-free physical stores with AI-powered sensors and cameras in Seattle, Chicago, and San Francisco, demonstrating its continued leadership in the use of technology. This technology can detect which things a consumer has selected and immediately charge them as they exit the store via the Amazon Go app.

With Echo Look, an AI-driven personal stylist that uses machine-learning algorithms to give specific outfit recommendations, the firm is even getting in on the trend of employing AI in the fashion industry, hence driving greater sales of garments, shoes, and accessories.

Nike

Nike has long embraced technology, and in 2006, the Nike+ sensor was one of the first fitness-tracking devices. It’s also a corporation known for marketing innovation, which they’re now merging to provide individualized consumer experiences and improve its product offering.

Nike also introduced a new technology that allowed customers to design their sneakers in-store. This is not only a wonderful sales gimmick, but it also captures a massive quantity of data that machine learning algorithms may use to build future items and give individualized recommendations and marketing messages.

Nike recently acquired body scanning firm Invertex, which will deepen its bench of digital talent and further our capabilities in computer vision and artificial intelligence as they create the most compelling Nike consumer experience at every touch point.

Nike has great intentions for the data it collects and is undoubtedly one to watch in terms of AI applications today and in the future.

BMW

BMW is one of the first automotive companies to embrace artificial intelligence’s potential (AI). The company is using AI to power self-driving cars and incorporating the technology into its manufacturing processes and marketing strategy. 

The German automaker relies on Big Data to design and engineer its vehicles and manage sales and customer service. Predictive analytics are used to generate tomorrow’s automotive designs, and the company has already built an AI-enhanced sports car that learns about its driver and adjusts systems and the cabin experience to suit each individual. 

BMW introduced an intelligent personal assistant, allowing drivers to connect with their vehicles as they can with their smartphones. The application also serves as a voice-activated manual, anticipates travel routes, sends notifications, and integrates with other apps. BMW could use this technology in the future to market third-party businesses such as parking lots and gas stations. Undoubtedly, BMW will utilize the data acquired from each motorist to improve the company’s marketing intelligence.

Netflix

You have probably already experienced the power of Netflix’s AI. Netflix has been known to use AI-driven machine learning technology in order to improve the user experience for all their customers. One great example is how they use it by tailoring content recommendations based on what you’ve enjoyed before, as well as fixing any quality issues that may arise during streaming with an automatic optimization system powered by artificial intelligence! 80% of the shows watched are recommendations from AI.

There are many ways to use AI in marketing, and the opportunities are endless. If you want to stay ahead of the curve, it’s important to start experimenting with AI now. At Billy Grace, we’re always innovating and incorporating new technologies into our products. Subscribe to our newsletter or request a trial for Billy Grace today so you can see how AI can enhance your customer experience.

Recessions create opportunities with a Data-driven strategy

By News

The storm of the pandemic has soothed, But we can’t help but worry about what’s to come. The economy is struggling, Inflation is rising, and there’s talk of an energy crisis. Many businesses are probably thinking of cutting costs, but what if we told you there is a profitable way through this? A data-driven way.

Having the right vision

It’s all about changing your perspective towards recessions, and change requires adaptation.

Short-term thinking kills brands.

Firstly, businesses consider reducing their marketing budgets. Often the first move is to cut brand spending and move this into the lower end of the funnel to target more immediate sales.

We think this short-term thinking is a mistake because it’s not so much that consumers do not want to spend; it’s that they are unable to.

When businesses cut costs, they risk losing their position at the top of the consumer’s mind. And when their finances are less constrained, it can result in declining sales.

Secondly, it reduces overall brand presence, leaving the door open to competitors to steal share of voice and market share. Research shows that companies that maintain or increase their marketing spend during a recession outperform those that cut back. Not only did they increase their budget, but they changed what they spent it on. 

An article from marketingweek stated that “​​two-thirds of losses in incremental sales during the last recession were driven by lower investment in media.”  Which also shows that cutting costs is cutting growth.

Recessions create opportunities

Luckily, competitors are probably also going to cut costs. When executed right, businesses can outperform competitors by maintaining a solid presence during recessions and come out of them better than before.

Adapt, don’t cut

One of the most important things a business can do during a recession is to continue spending in the right places. This means ensuring that money is still being funnelled into areas that will help the business grow and recover. 

As the first paragraph states, don’t cut top-funnel investments; focusing on awareness and improving branding. And also, do not focus on investing in bottom-funnel conversions. Again, many consumers probably do not have the financial space to buy. Therefore it is vital that when they do have money that, they still know where to find you.

An article by Marketingweek stated that maintaining a solid and consistent brand identity can result in a 10-20% growth increase.

The best thing to do is not to keep all funding on all stages of the funnel, but focus on adapting your strategy. Businesses need to make well-informed decisions about their marketing. Now, I can hear you thinking, “How am I going to make well-informed decisions?”. 

The answer to that question is: Consumers will have less money to spend, but they have infinite amounts of data to give when being present online (with consent, of course).

Data-driven businesses have an advantage.

A data-driven business has a significant advantage in a recession because it can rely on historical data to make informed decisions. This was evident to us during the COVID-19 pandemic, when clients who utilized AI and machine learning saw an increase in their share of voice and growth. 

This is because they could track the customer journey with full attribution tracking, meaning they could see where to invest their marketing efforts for the best results. In other words, data-driven businesses are able to adapt and adjust more quickly to changing market conditions, giving them a clear advantage in times of economic instability.

Cost optimization

With AI and machine learning, businesses can create highly optimized budgets. These machines are able to find the best cost per conversion, thanks to AI’s algorithms. This saves businesses money as they can determine the maximum amount they want to spend on a campaign, and the AI will figure out the rest. In many cases, AI is able to find better results when spending less! Thanks to these advancements, businesses can save time and money while still getting great results from their campaigns.

Channel optimization increases performance.

Marketers today are bombarded with data from multiple platforms, making it difficult to get a clear picture of their campaigns’ performance. This can lead to excessive spending and inefficient use of resources since marketers need to analyze all these channels individually. 

However, businesses implementing AI and machine learning solutions can avoid these problems. All of their marketing data is collected in one place, allowing marketers to see how their campaigns are progressing and make necessary adjustments. In addition, these businesses can use budget optimization to ensure that their campaigns run smoothly and efficiently. Being Data-driven is becoming the new standard of marketing.

AI and Humans: Collaborating to beat the competition

By News

Artificial intelligence has taken over many facets of online marketing, but there are some tasks where AI needs human help to be successful. This blog post will discuss why you should integrate AI into your workflow and why you still need a human stamp on digital work.

What is AI?

Artificial intelligence, is the next step in marketing evolution. AI has been something that humans have dreamed of for years, and not until recently did we see any real advancements in AI technology. AI uses computer software to analyze data and make decisions based on this information instead of humans making these choices.

You can look at AI as an extension of our cognitive abilities. These machines can communicate with people in a way that feels natural, and much like people, they can understand complicated ideas. And can draw conclusions based on the data presented, but on a larger scale than we can.

Billy Grace is an AI that can analyze, forecast, and optimize campaigns and much more. 

Spending endless hours working with ad managers and analyzing the data within those dashboards is now a thing of the past. 

“AI will make it so that marketers have more time to do creative tasks instead of looking at statistics all day.”

Why do we use Artificial Intelligence?

We value our time, and so should you! Because time is money. If a task is continuously repeated, it can be automated; here is where AI joins the conversation.

Artificial intelligence can maximize your performance and save time thanks to its superior brain-like abilities that can automate these tasks.

You can brainstorm marketing ideas with the time won, resulting in more creativity! We believe that: AI will make it so that marketers will have more time to do creative tasks instead of looking at statistics all day.

AI analyzes: historical and current data to forecast valuable predictions. These predictions are not solely based on company data, but AI can also combine, for example, weather forecasts, Specific Keywords, and Trends to make them valuable. 

In the era of big data, we need to mine all that information, and humans can no longer do it alone. These forecasts will optimize your marketing campaigns and save you a large sum of adspent. A human brain cannot process large quantities of information in split seconds.

“In the era of big data, we need to mine all that information, and humans can no longer do it alone,”

AI needs us to thrive in marketing.

It needs human guidance. Billy Grace learns through machine learning algorithms, AI’s way of interpreting data and learning. Billy Grace can analyze data independently but requires more time to process information, and AI is not perfect.

Furthermore it relies on human input to function effectively. While AI can process large amounts of data very quickly, humans still need to tell them what to do with that data. 

In addition, AI lacks empathy and creativity, two qualities that are essential for success in marketing. Luckily for us, these two tools are given to us at birth! We can connect with consumers emotionally and develop outside-the-box solutions for marketing campaigns. 

Billy Grace

Billy Grace is unlike any other marketing tool out there. Our platform is changing the way marketers think and work, and you can feel it as soon as you start using the system. 

With Billy Grace, you have complete insights into every aspect of your marketing funnel. You can automatically optimize your ad budget across all channels – something which is unique to this system and has never seen before in the current digital marketing landscape. 

Not only that, but Billy Grace makes it easy to track your progress and see how your ads are performing. As a result, you can ensure that your campaigns are always on target and that your budget is being used in the most effective way possible.

Billy Grace is our first step to discovering new possibilities and opportunities. Billy Grace can deliver more sales and better ROI on marketing campaigns and help you with customer service and fulfillment.

One AI to rule them all! It is not about replacing humans with machines; it’s about making the work more efficient, effective, and enjoyable with AI technology.

Limited offer!

Are you interested in what you read about Billy Grace? If you head to our website now, you will see a free trial on our main page; Register now! 

Machine learning in Google Ads increases webshop visitors.

By News

Machine learning and AI technology will be more important in the future than they are now. Today, we’ll discuss machine learning and why you should use it! We will review the current Google Ads applications and answer the question, “Will it make the marketer redundant in Google Ads?” 

Machine learning, what is it?

The process of teaching computers to learn from data without being explicitly programmed is known as machine learning. The underlying assumption is that if a computer is given enough example data, it may “learn” to recognize things in images or recommend products based on client preferences.

For many years, Google has incorporated machine learning in ad campaigns. The primary role of machine learning in these initiatives is to use historical data to forecast the most likely outcome, such as increased sales or website visits. This method enables Google to target advertising and boost campaign performance more efficiently.

How does this work in Google Ads?

One of your primary goals as an eCommerce business owner is to increase visitors to your website and convert that traffic into sales. While there are various approaches, employing Google Ads is a highly effective, especially when combined with machine learning.

Google Ads considers various criteria for determining an ad’s relevancy, including the user’s search query, geography, and interests. Machine learning improves forecast accuracy by evaluating historical user data to detect trends and patterns. This makes your adverts more relevant to your target demographic, which leads to more clicks and transactions.

Google Ads is continually improving at targeting potential clients thanks to machine learning. Using Google Ads to generate traffic to your Shopify store is the way to go. Your adverts will become more effective over time as a result of machine learning.

How to still have an influence

You may wonder how you can still affect your campaign when machine learning takes over more tasks in Google Ads. The good news is that there are still techniques to ensure that your advertisements are effective and reach your intended audience.

By becoming a power user and understanding the mechanics of Google Ads, you can determine which buttons are still adjustable and which have been automated.

Utilize automation layers. Optimize the algorithm’s input data and signals to guarantee it steers toward your primary objective. Allow for rule-based automation. If X occurs, Y should occur.

The new role of the marketeer

Giving Google the controls can be stressful, especially if you are used to executing all of your marketing yourself. It consumes too much time and energy that may be better spent on other things that require attention.

However, the tasks of a marketeer have changed. We still require humans to perform some tasks! AI and humans are the best collaboration of the twenty-first century! So, what are our responsibilities?

Well, let me give you some examples:

  • Managing the ins and outs of Google Ads
  • Creating and maintaining the proper account structure
  • Setting better, more realistic targets
  • Optimizing structured data like feeds and creatives
  • Feeding more accurate conversion data back to Google

           Source

See! There is a lot to do; you could develop new structures or update the company’s targets to make them better reachable!

Billy Grace

In a world characterized by automation and machine learning, we should embrace this shift. It will simplify many things and boost the effectiveness of our marketing.

Marketers will not have fewer tasks to complete, but our position has evolved! Our focus is now on mastering our areas of expertise and learning everything we can about machine learning and automation within those sectors. Only then will we be able to make the most of everything and apply automation layering.

You should never only look at Shopify analytics, and this is why!

By News

Because not every measure in Shopify’s built-in analytics is correct, we do not recommend focusing solely on Shopify’s analytics. This is not to say that Shopify’s analytics is flawed; on the contrary, their data is really important! However, there are occasions when it is beneficial to use your own data arsenal, and we will explain why and where to look in this blog.

Let’s talk about website sessions!

Website sessions are a fantastic approach to tracking traffic and your website’s general popularity. Did you know that this parameter is also utilized to calculate your conversion rate?

Orders / Sessions = Conversion rate

Conversion rate is a helpful indicator for determining the overall performance of your website and marketing activities. As a result, for the conversion rate to be credible, sessions and orders must be accurate.

Here comes the punchline…

Sessions in Shopify analytics are not entirely accurate. 

Why do you ask? Well, let me explain!

Shopify’s analytics miscounts sessions… For example, when purchasing a shirt from a website. First, you go to their website (Shopify Session counter: 1). Second, you go to the cart and click ‘Check out,’ and you are redirected to the payment provider’s checkout page. Following payment, you are sent to the cart page (Shopify session counter: 2).

See… Shopify duplicated the sessions, even though this was one session. As a result, Shopify will show a conversion rate that is much lower than it should be.

Well, how do we fix this?!

It is pretty easy… If you use the session from Google Analytics, you will always have the right amount! But this means you have to calculate it manually. Another fix could be writing your own software and collecting data. But the best option is to read our vision below and decide based on that!

Our vision

Shopify’s bread and butter are: E-commerce and tracking customer and order data. In contrast, Google Analytics’s craft is tracking internet traffic. Therefore, always get data from different platforms, and combine these to track the right metrics with the correct values! 

You can manually calculate some metrics on your own, but this is time-consuming, and so is writing your own software. And if you cannot write your software, you will need to acquire someone to do it for you, which can also be expensive. Besides this, you are required to safely store consumer data, which can be a legal liability if not done correctly.

If you do not have time or do not want to spend tremendous amounts of money, we have an offer for you. We are currently offering a 30 days trial on Billy Grace.

Billy Grace combines data from different platforms to create one outlet with all the correct data and metrics. By using this: businesses can track valid data and create acceleration goals based on this. 

No matter what you decide, we will always be here posting exciting articles about the world of digital marketing and its trends and developments.

ROAS: The short-term-thinking- syndrome.

By News

Many companies steer their marketing wheel based on Return on ad spend (ROAS), resulting in under-investment and short-term thinking and killing growth. ROAS is a metric that is more damaging to our businesses than we think, maybe even more than ROI. But we have fixed this problem within Billy Grace.

ROI has been problematic in the past, but ROAS is doing more damage to businesses while lurking in the shadows. However, ROI and ROAS have been and still are the anti-growth twins’ damaging businesses.

We have struggled with these metrics, but it hasn’t stopped us from trying to find new metrics resembling long-term growth. We know that the bottom line is that marketing efforts need to be profitable, but sometimes profit is not always short-term work. 

Before explaining why ROAS is a bad guy, let’s first lay out the issues with ROI.

The problem with ROI

Return on investment (ROI) negatively correlates with growth because when returns stagnate, your ROI will decrease as you spend more and will increase as you spend less. In other words, to increase your ROI, just spend less.

Hence, If your main focus is increasing your ROI, you will consequently be spending less, resulting in less growth. This illustrates that ROI is not a metric of effectiveness, but efficiency. Therefore, instead of using ROI as a target, utilize it to assist you in evaluating the worth of your media spending.

To increase growth, you should focus on s prioritizing incremental profit or revenue.

How ROAS is utilized

Many marketers use ROAS as a buying objective in the real-time optimization of performance activity across various platforms and channels.

Moreover, the ‘return’ means the sale that occurred when the advertisement was shown. For example, If someone sees an ad and buys within a certain time range, those sales are attributed to the activity.

ROAS is a favorite of digital marketing and finance teams. They enjoy the immediacy, predictability, and near-instant response of the platforms and their algorithms, as well as the certainty that if they enter the number into the adtech, it will result in a sale.

The problems with ROAS

For starters, many firms’ strategic layers view ROAS as a target metric and a leading factor in marketing decision-making. As a result, short-term thinking leads to under-investment and de-prioritization of longer-term activity, crippling growth.

ROAS creates an illusion

The ‘return’ refers to the total sales from consumers targeted with adverts within a specific period. For example, if someone purchases something immediately after being targeted with an ad. In that case, the platform considers it a ‘gain,’ even though the consumer was exposed to your brand for weeks. Therefore, taking credit for all the channels that also contributed.

Resulting in channels competing with each other instead of working together. Since ROAS only measures what happens in the final moments of the sales.

Chasing easy sales

If a large portion of an audience is already close to buying, the ROAS will likely be high. But these are people that already know that brand. But a business cannot rely on them, since only a tiny portion will probably turn into returning customers when they have bought that product. You cannot rely on existing soon-to-be customers and returning customers. 

Marketers need to fill their funnel with consumers that are further away from their buying decision; this will naturally lead to a lower ROAS. Businesses cannot keep focusing on things that instantly deliver and turn everything else off.

ROAS also negatively correlates with growth

Light buyers contribute a significant amount of brand growth, but focusing on high ROAS may cause you to target more heavy buyers, limiting growth. Brands may become excessively inward-looking and preoccupied with serving their current customers rather than expanding the number of new customers.

Similar to ROI, ROAS has also been misrepresented as a growth indicator. In fact, ROAS seems to have been specifically designed to keep brands small.

A Flawed view of how advertising works

Advertisers focusing solely on ROAS (return on ad spend) may miss the bigger picture regarding digital advertising. While it is undoubtedly essential to see a positive ROAS, ads must be considered part of a larger whole to be truly effective.

Ads on any given platform do not exist in a vacuum – they are just one part of a rich tapestry of thousands of little touches that combine to gently contribute to maintaining or increasing sales. 

Most advertisers exist to maintain or increase sales rather than drive awareness, consideration, and conversion. Therefore, it is essential to consider all aspects of advertising, not just ROAS.

How Billy Grace wants to change the digital world.

Many of our clients ask us questions on how to scale their businesses most effectively. For example: “What metrics do I need to keep in mind when making marketing decisions?” 

Luckily, every member of the Billy Grace family has a digital marketing background and knows how marketers and businesses approach marketing. Therefore we want to change the way marketing is approached.

We believe long-term growth is attracted when creating awareness in audiences that are not yet familiar with your brand. 

Within Billy Grace, we have designed metrics that are engineered explicitly for long-term growth and branding. At Billy Grace, we believe that marketing should be a holistic approach across all channels, and we must align all channels so that they are measurable as a whole whilst also being able to track your audience every step from first exposure to purchase and beyond.