I work in a highly regulated industry (cannabis) with crazy thin marketing budgets.
I allocate 90% of my spending to in menu advertising (so ads that are “sponsored products” on dispensary sites. These are direct click ads- so they track when someone clicks on the ad and tracks through the purchase of a product. I get incredible results- 10x ROAS.
The problem- my boss doesn’t believe the numbers. He got an MBA in marketing 30 years ago. So he says “he knows it’s fuzzy math….“
In our top stores, my ads are converting 20% of total retail sales of our products.
Any suggestions on how to convince him of the ad value (and MY value??)
TIA!
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What’s the attribution window? And only click attribution? Do you only drive sales or new customers? I mean people who spoke cannabis will smoke cannabis. It’s not too crazy to think that they will click on your ad to buy cannabis. Is it driving sales? Probably. But if most are existing clients then maybe email would do the same thing much cheaper. I would drive most money to get new customers and some for existing customer retention through ads. And would build up a mailing list for existing customers so that you get better bang for buck. New customer is usually better profit for marketing spend.
Also check your deduplication if you can. Is the shop data the same? No double conversions registered?
On one ad set, I’m seeing 50% new customers (new means they haven’t purchased our brand in the last 90 days.) The other ad company I use doesn’t measure new. Because dispensary menus are generally AWFUL (hundreds of pages of products), the ads literally just help us cut the line. Serving our ads right up front. I don’t believe there is an attribution window on these in emu ads. It’s a direct click to cart conversion
I do email and sms, too (those conversions are bananas high on the strictest attribution window - 3 days after interaction.)
Ps- thanks. This is helpful to talk through. Don’t even get me started on meta ad attribution numbers…
Are you tracking them via UTM?
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