Our CEO, Daniel Alvarado, came back with quite the insights to share from this year’s Think Lead Gen by Google.
The event's main focus was on the changing landscape in digital marketing and how the power of Google AI can drive incremental revenue and achieve business goals.
Google's Think Lead Gen NYC 2023 was a one-day event that brought together marketers, salespeople, and entrepreneurs to learn about the latest trends and best practices in lead generation. The event featured keynote speakers, panel discussions, and breakout sessions that covered topics such as:
- Google's tools and platforms to reach and engage target audiences
- How to measure and improve lead generation performance and ROI
Key Takeaways and Insights
Something that stuck about lead gen is that it’s definitely NOT a:
Businesses have different goals, audiences, and strategies, and therefore need different approaches and solutions. Google's speakers emphasized the importance of understanding your customer journey, segmenting audiences, and tailoring personalized messages to match each funnel stage.
As a continuous cycle of attracting, engaging, converting, and retaining leads, lead generation takes nurturing in each stage. Google's speakers highlighted the need to create a seamless and consistent experience for leads across all touchpoints, from first impression to final purchase. Testing, analyzing, and optimizing lead gen campaigns was also emphasized to ensure you deliver value to leads and achieve your business's desired outcomes.
Lead-to-Sale Journey (Set Objectives)
As customer behavior evolves, you need to adapt your approach and set up the right foundations to engage with high-value consumers throughout their journey.
- You want to create a memorable and positive experience for your customers so they keep returning and recommending you to others.
- You need to understand their needs, preferences, and pain points, tailor your marketing strategy to build trust, loyalty, and satisfaction among your customers, and grow your business in the long run.
Map your lead-to-sale journey
You want to make the most of every conversion, right? But not all conversions are equal. That's why you need to map out your lead-to-sale journey and see where the money is. By knowing the key stages in your funnel and their average values, you can focus on what really matters for your business.
Identify & assign conversion values
To truly measure and improve the impact of your ad campaigns on your business, you need conversion values. These values let you use value-based bidding and set them in Google Ads. This way, you can optimize your ads for the best results.
To grow your business, you need to align your marketing goals with your overall profits. You can achieve this by creating strong and lasting relationships with your partners, based on mutual understanding and trust. By using insights and data, you can communicate more effectively and deliver better results.
3 Key Actions for the Right AI Foundation (Get Ready)
If you want to optimize your lead-to-sale cycle, you need to know which actions are most effective at converting your prospects into customers. There are different ways to assign values to these actions, depending on your business goals and data sources.
Here are some options:
- Fixed values: You can assign a fixed dollar amount to each action, based on your average revenue per customer or your estimated lifetime value.
- Rule-based values: You can create rules to assign different values to different actions, based on factors such as location, line of business, or product category.
- Predictive values: You can use Cloud AI to automatically generate values for each action, based on historical data from GA4 Web Data and other CRM Data. This is a new and exciting feature that can help you discover hidden patterns and insights in your data.
By using these methods, you can map your lead-to-sale cycle more accurately and efficiently, and improve your marketing ROI.
Accounting for the value of your conversions more accurately and securely, is made easier through Conversion Values, a feature that allows you to measure the impact of your campaigns with durable privacy-centric measurements.
You can also opt-in for improved Enhanced Conversions, a tool that helps you optimize your bids and reach more leads with hashed email matching. By using these features, you can increase your conversions on search by up to 5% while respecting user privacy and complying with regulations.
Take your campaigns to the next level by activating and optimizing them using the values that matter most to your business. Google's AI can help you do that, but it needs your input. The quality of signals you provide will determine how well the AI can learn and improve your results. That's why using 1st party data is crucial for enabling AI to work for you.
According to a recent report, advertisers who use AI tools see a 30% lift in performance compared to those who don't. And by implementing Target ROAS bidding, you can achieve an additional 14% uplift in your return on ad spend.
Questions to ask ourselves to determine our L2S (Lead-to-Sales) cycle:
AI-Powered Campaigns (Take Action)
Boost conversions with broad match and Performance Max. Switching from exact match to broad match in your target CPA campaigns can increase your conversions by 35%.
Get ahead of competition through Performance Max campaigns, to help you reach 13% more customers right away and 18% more over time. Definitely the next best way to grow your business and connect with high-quality leads with Google. The power of AI to optimize your campaigns and reach your goals.
Adapt your mindset
Adapting to the changing market is a sign of agility. You can free yourself from the limitations of traditional marketing and embrace a more strategic and growth-oriented approach. Think of it as the difference between cruise control and self-driving cars. You still have the power to steer your business in the right direction, but you have a smart and reliable partner to help you navigate the road ahead.
AI is the engine that drives your marketing, but you are the driver who sets the destination. You are not competing against AI; you are competing with other marketers who have mastered AI. That's why you must assess your performance and measure your impact with the best tools available.
Leverage Google AI For Your Marketing Plan
Whether you want to improve your PPC, SEO, or social marketing, Google AI can help you achieve your goals faster and easier. But how can you use Google AI effectively for your marketing plan? That's where we come in. We are a digital marketing agency that specializes in Google AI solutions. We can help you design and implement a Google AI strategy that suits your needs and budget. Happy lead generating!