Podcast Summary: Marketing Operators Episode E029: How We're Planning For 2025 - Our Approaches, Strategies vs. Tactics & Knowing When To Pivot

Podcast Information:

• Title: Marketing Operators
• Hosts: Connor Rolain, Connor McDonald, Cody Plofker
• Episode: E029
• Release Date: October 15, 2024

Introduction

In Episode E029 of the Marketing Operators podcast, hosts Connor Rolain, Connor McDonald, and Cody Plofker delve into comprehensive discussions surrounding Q4 planning, data insights from recent sweeps, and strategic approaches for 2025. The episode emphasizes the distinction between strategies and tactics, the importance of team ownership in executing plans, and the necessity to pivot when necessary to maintain operational and strategic efficiency.

Notable Quote:

• Connor McDonald [00:00]: "We're talking about some more Q4 planning to celebrate the first day of the fourth quarter... what is our approach? What are, you know, what's the delineation of strategies versus tactics?"

Q4 Planning and Execution

The hosts begin by discussing the significance of Q4, particularly the preparation leading up to Black Friday, Cyber Monday, and the Holiday season. Connor McDonald highlights the necessity of completing ad creative testing ahead of these peak periods to ensure effective execution.

Key Points:

• Ad Readiness: "Once Black Friday comes around... you need to have all of your testing done, understand what's working, what's not working" ([00:58]).
• Operational Focus: During Q4, the focus shifts from planning to execution, minimizing new initiatives to optimize existing strategies.

Notable Quotes:

• Connor McDonald [01:15]: "We are doing a little bit of a sweeps recap and talking about some of the data and insights that we got from that data."
• Cody [02:48]: "First day of Q4. Can't believe it. It's finally here. The moment we've been dreaming about."

Sweepstakes Insights and Performance

A significant portion of the episode centers on the analysis of recent sweepstakes. Cam shares detailed post-mortem insights, revealing a 30% year-over-year increase in sweepstakes performance due to new categories and improved customer retention rates.

Key Points:

• Performance Metrics: "We ended the period up 30% year over year we spent 30% more" ([19:28]).
• Customer Retention: Increased retention rate with a 25-30% rise in repeat customers post-sweepstakes.
• Entry Mechanics: Enhanced transparency with real-time entry tracking using Revo, leading to better customer experience and trust.

Notable Quotes:

• Cam [20:00]: "We ended the period up 30% year over year we spent 30% more... it was a big win."
• Connor McDonald [29:00]: "We are seeing good performance, like good performance now as well... the ads are crushing."

Strategies vs. Tactics

The discussion transitions to the fundamental distinction between strategies and tactics. The hosts emphasize the importance of clearly defining both to ensure cohesive execution and avoid conflicting initiatives.

Key Points:

• Definition Distinction: Strategies are overarching goals ("efficiently scale winning channels to maintain or improve our rate of new customer velocity"), whereas tactics are the specific actions taken to achieve these strategies (e.g., producing more Facebook ads).
• Team Alignment: "Everyone is on the same page... regularly communicating strategies and tactics to avoid conflicts" ([48:52]).
• Frameworks Utilized: Introduction of frameworks like the Pyramid of Clarity to structure mission, strategies, and objectives effectively.

Notable Quotes:

• Connor McDonald [46:01]: "We have strategies and we use these strategies for the entire year... fill those strategies with tactics."
• Cody [60:05]: "Trying to align marketing and finance... share data and feedback to optimize towards the same outcome."

2025 Planning: Approaches and Ownership

Looking ahead to 2025, the hosts outline their planning processes, emphasizing the delegation of strategies to team champions to foster accountability and empower leadership across departments.

Key Points:

• Cornerstones Approach: Setting six cornerstone projects, each led by a designated champion responsible for driving initiatives.
• Iterative Planning: Strategies are not set in stone; they evolve based on performance and market dynamics, allowing for flexibility and pivots when necessary.
• Cross-Departmental Collaboration: Ensuring that strategies encompass inputs from various departments to align marketing with product development, finance, and operations.

Notable Quotes:

• Cam [35:58]: "We have six cornerstone projects and then a champion for each one... empowering key people from across the business."
• Connor McDonald [72:54]: "We use the Pyramid of Clarity... mission, strategies, and objectives are public and clear."

Tools and Sponsorships

Throughout the episode, the hosts mention several tools and sponsors that aid in their marketing operations, including Motion for ad creative testing, Prescient AI for media mix modeling, Rich Panel for customer experience management, and House.IO for incrementality measurement.

Key Points:

• Motion: Automates ad naming conventions to streamline performance analysis ([00:58]).
• Prescient AI: Assists in quantifying marketing efforts and optimizing media spend.
• Rich Panel: Enhances customer experience through efficient support systems.
• House.IO: Provides incrementality measurement to assess true ROI across marketing channels.

Notable Quotes:

• Connor McDonald [07:56]: "We use Motion to ship winning Meta, TikTok, and YouTube ads."
• Cody [61:00]: "Prescient AI has been super impressive, especially in measuring TV performance."

Test of the Week: International Price Localization

In the final segment, Cam presents the "Test of the Week," focusing on international price localization. By reducing prices in the UK by 15%, Cam's team observed a 30-40% increase in conversion rates with only a 7% decrease in Average Order Value (AOV), indicating effective price elasticity management.

Key Points:

• Price Reduction Impact: A 15% price decrease led to significant conversion rate boosts without proportionate AOV decreases.
• Profitability Metrics: Focused on "profit per session" to evaluate the effectiveness of pricing strategies.
• Consumer Behavior Insights: Lower prices encouraged additional accessory purchases, enhancing overall transaction value.

Notable Quotes:

• Cam [82:41]: "We saw these massive improvements in conversion rate, 30-40% improvement with a 15% decline in the MSRP price."
• Cody [85:35]: "Our main KPI being profit per session."

Conclusion

The episode concludes with the hosts reiterating the importance of clear strategic planning, effective communication across teams, and the willingness to pivot based on data-driven insights. They encourage listeners to subscribe, comment, and share the podcast while thanking their sponsors for their support.

Notable Quote:

• Connor McDonald [78:14]: "We're talking about how we're planning for 2025... balancing executing on Q4 and planning for next year."

Sponsors Mentioned:

• Motion: motion.com
• Prescient AI: prescientai.com
• Rich Panel: richpanel.com
• House.IO: house.io/operator

Final Note: If you're enjoying the insights shared in this episode, don't forget to subscribe to the Marketing Operators podcast, leave a comment with your questions, and share the episode with your network.