Unit economics for digital — Katy Keim // LQ Digital
- Part 1Impracticality of data science — Katy Keim // LQ Digital
- Part 2Breaking digital silos — Katy Keim // LQ Digital
- Part 3 Unit economics for digital — Katy Keim // LQ Digital
Show Notes
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02:43While CAC is easy to measure for digital, does it get more nuanced when measuring LTV ratio?Most marketing departments know how to measure CAC. However, there are more factors that go into measuring LTV.
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03:47Is understanding your ideal customer profile one of the main factors to calculating LTV?Definitely, and the best way to do that is by using historical data.
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05:37How do you help eCommerce or B2C companies without cohorts measure LTV?Cohorts or historical data still apply to eCommerce businesses. They calculate LTV by looking at repeat purchases.
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07:32How do companies lose sight of investment in returns?Youll find that the board typically has a ROAS mentality. They have a nearer-term mentality.
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09:42Whats a good example of unit economics for digital marketing?CAC is an easy measurement unit to start with.
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11:10Is there a way to really determine your true CAC measure?Find what is most actionable. You're looking for relativity in your investments.
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12:40How do you measure the health of a channel?That comes down to attribution, and theres more complexity to it.
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14:31Are there attribution models that are more likely to be successful?Different attribution models work for different companies.
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17:08Whats the longest lifetime value youve seen?Profitable models result in four to five years of LTV.
Quotes
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“Unit economics describes a specific business model's revenues and the cost in relation to an individual unit.” Doug Bell
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“Why isn't marketing capitalized? It's not an expense, it's an investment of future growth.” Katy Keim
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“We're telling clients not to spend more because you wanna be sloppy, but your model yields goodness, economic profitable goodness, by going after that at a more aggressive pace.” Katy Keim
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“You really can't talk about unit economics without thinking about attribution.” Doug Bell
- Part 1Impracticality of data science — Katy Keim // LQ Digital
- Part 2Breaking digital silos — Katy Keim // LQ Digital
- Part 3 Unit economics for digital — Katy Keim // LQ Digital
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Part 1Impracticality of data science — Katy Keim // LQ Digital
CEO of LQ Digital, Katy Keim discusses the impracticality of data science. In a data-driven world, data is used for better decision-making that results in better outcomes. Fortunately, in today’s society there is no shortage of data. The task for data science teams is to make sure that they are building models that are practical and easy to implement. Today, Katy discusses how your data science team can easily tackle this.
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Part 2Breaking digital silos — Katy Keim // LQ Digital
CEO of LQ Digital, Katy Keim, discusses why it’s important to break down the walls between the different digital marketing channels. Teams that work in silos tend to have different goals and different measurements of success. This makes it difficult to align their goals for the overall success of the customer. Today, Katy discusses how to break down these silos and why it’s important.
Play Podcast -
Part 3Unit economics for digital — Katy Keim // LQ Digital
CEO of LQ Digital, Katy Keim, highlights the basic unit economics your digital marketing team should be focusing on. Unit economics play an important role in helping you assess the economic impact of your digital marketing efforts. Understanding them and understanding how to calculate them will help you find tactics that are generating the highest return on investment. Today, Katy explains them and why they are important
