A fixed digital advertising budget can leave a lot of money on the table. In this short post, Brian explains why you should abandon a fixed-budget mindset and focus instead on your acquisition cost.?
Our bank of data visualizations is always growing as we find more ways to enable better and faster decision-making. We’ve updated our post with some of our new favorites.?
- How base pricing impacts upgrade pricing. The Threshold-Crossing Effect: Just-Below Pricing Discourages Consumers to Upgrade suggests that if you're pricing your base experience using “just-below” pricing (such as $99), you may be discouraging customers from purchasing your upgraded experiences. In other words, if you really want to sell your $139 zipline tour rather than your $99 zipline tour, price the less expensive tour at $100 instead. The study did not cover experiences, but did cover both small purchases and large purchases.
- Fareharbor recently announced support for combos. “Effortlessly combine multiple experiences and sell them in a single booking flow.” The article is in Compass, which requires you to be logged in to Fareharbor.
- Use QR code tracking for finding your best out-of-home placements. We tracked QR code scans for a client in a large metro area last year, and the results—which are easily accessed in Google Analytics—helped us identify the strongest and weakest placements for better allocation of our out-of-home budget this year. We tracked utm_content (in addition to utm_source, utm_medium, and utm_campaign), which can be used for tracking the actual content of the ads, but also the placement ID.?
- Your old Google Analytics data is going away soon. You can access your Universal Analytics data through June, but after that, Google is deleting the data. If you want to access it after that, you’ll need to back it up before then. Many tourism clients will want at least 2023 data, due to booking platforms not fully supporting Google Analytics 4 until mid to late 2023. Google’s recommended solution isn’t quite what we’re looking for (we’re testing a better solution that we think will be a good fit for our clients), but it’s free and easy, if you want to make sure you at least have something exported before the cutoff date.
If you want to create a successful paid marketing funnel, you have to get your products and offers in front of the right people at the right time. But it’s not quite that simple.
If you have monthly revenue targets, it can be helpful to visualize your target and your progress. In this example, we also included a comparison to last year.
