Marketing Operators Podcast: Episode E035 Summary
Title: Black Friday Cyber Monday: How We'll Be Tracking, Analyzing & Maximizing Our Results
Hosts: Connor Rolain, Connor MacDonald, Cody Plofker
Release Date: November 26, 2024
1. Episode Overview
In Episode E035 of the Marketing Operators podcast, hosts Connor Rolain, Connor MacDonald, and Cody Plofker delve into their strategies for managing the high-stakes Black Friday Cyber Monday (BFCM) period. They discuss tracking methodologies, budget allocations, team operations, marketing tactics, and the challenges of maximizing results during this critical sales window.
2. Setting the Stage for BFCM
The episode begins with Cody Plofker sharing personal updates, including his temporary relocation to Los Angeles to manage upcoming sales events and the logistical challenges of working remotely with his team and pets.
Notable Quote:
Cody (00:14): "We got a lot packed into November... Starting from Saturday, basically through the end of the year."
3. CPM Trends and Post-Election Impacts
The conversation shifts to analyzing Cost Per Mille (CPM) trends following the recent election. The hosts compare their observations with industry reports, noting a general decline in CPMs and discussing the implications for their marketing strategies.
Notable Quotes:
Connor (05:34): "We're down 20% from the previous period... Still up 67% year over year, which is crazy."
Cody (07:53): "Google told us retail has been weaker to start the holiday season... We're expecting a backloaded month."
4. Operational Workflow During BFCM
The hosts outline their operational workflows during the BFCM sale period. They emphasize the importance of daily standups, real-time data monitoring, and agile decision-making to respond to sales trends effectively.
Notable Quotes:
Connor (11:03): "We're starting a daily standup... Midday standups every day to talk about pacing and budget decisions."
Cody (15:53): "We're doing as much async as possible... Keeping an eye on efficiency and revenue pacing."
5. Budget Allocation and Channel Mix
Discussion centers around how the hosts adjust their budget allocations across different marketing channels during BFCM. They highlight the predominance of Meta (Facebook) in their media mix due to its scalability and incremental value compared to other channels.
Notable Quotes:
Cody (31:42): "We launched a couple House tests... Motion just raised $30 million in their series B."
Connor (36:48): "Our Facebook rep was hitting me up because our percentage of Facebook budget is as low as it's been all year."
6. Influencer Marketing and Upper Funnel Strategies
The podcast explores the role of influencer marketing and upper funnel channels like TV and CTV in driving net new customers. Hosts discuss the challenges of measuring incrementality and the tools they use to optimize these efforts.
Notable Quotes:
Connor (33:00): "We don't see much value out of influencer integrations this year... It's all about BFCM and holiday sale."
Unknown Guest (39:32): "Prescient AI has been a game changer... It helps us measure the impact across all sales channels."
7. Email and SMS Marketing Cadence
The hosts share their strategies for email and SMS communications during BFCM, balancing aggressive outreach with the risk of increasing unsubscribe rates. They discuss segmentation, frequency, and the use of plain text emails to enhance deliverability.
Notable Quotes:
Cody (44:00): "Two emails on launch day, one email every day, two on the final day."
Connor (45:34): "We'll share results on split testing send times... Ensuring our emails stand out in crowded inboxes."
8. Reactive Tactics and Inventory Management
Adaptability is crucial during BFCM, as unexpected challenges like inventory shortages may arise. The hosts discuss their approaches to adjusting offers, managing inventory, and maintaining operational flexibility to respond to real-time sales data.
Notable Quotes:
Cody (49:20): "Last year, we adjusted our exclusive offers based on early performance... This year, we're discounting kits to move excess inventory."
Connor (53:05): "Our biggest headache is managing stockouts in bundled products... We've prepared asset variations to handle such changes."
9. Tests of the Week: Innovations and Learnings
The episode features a segment where the hosts discuss various tests they've implemented to optimize their BFCM performance. These include CTV holdout tests, Rich Panel AI tools for comment moderation, and shipping strategy experiments.
Notable Quotes:
Unknown Guest (62:02): "CTV achieved a $68 cost per incremental... We're excited to see how it performs over the full test period."
Cody (63:30): "House has been instrumental in measuring channel incrementality... Their platform allows us to discover true ROI."
10. Lessons Learned and Final Thoughts
Concluding the episode, the hosts reflect on the importance of flexibility, data-driven decision-making, and team collaboration during the BFCM period. They emphasize learning from both successes and setbacks to continuously refine their marketing strategies.
Notable Quotes:
Cody (58:41): "Adjusting strategy mid-campaign is essential... It’s the right thing to do to hit our projections."
Connor (61:06): "Growth teams must remain nimble and recognize the competitive advantage of adaptability."
Conclusion
Episode E035 of the Marketing Operators podcast provides an in-depth look into the strategic planning and operational execution required for a successful Black Friday Cyber Monday campaign. By sharing their real-world experiences, challenges, and solutions, Connor Rolain, Connor MacDonald, and Cody Plofker offer valuable insights for marketers aiming to maximize their BFCM results through meticulous tracking, agile operations, and innovative marketing tactics.
Key Takeaways:
- Data-Driven Decision Making: Utilizing real-time data and advanced analytics tools (e.g., House, Prescient AI) to inform budget allocations and marketing strategies.
- Operational Flexibility: Implementing daily standups and maintaining agile workflows to respond swiftly to sales trends and inventory issues.
- Channel Optimization: Prioritizing scalable and incremental channels like Meta while experimenting with upper funnel channels such as CTV and YouTube.
- Effective Communication: Balancing aggressive marketing outreach with customer experience to optimize email and SMS cadences without driving high unsubscribe rates.
- Continuous Testing: Conducting various tests (CTV holdouts, shipping strategies) to identify and leverage effective marketing tactics during peak sales periods.
Sponsors:
- Motion: Enhancing creative analytics and advanced reporting features. Learn More
- House: Experimentation platform for measuring marketing incrementality. Discover House
- Rich Panel: AI-driven social media comment moderation. Explore Rich Panel
- Prescient AI: Cross-channel measurement and forecasting tools. Visit Prescient AI
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