This playbook helps you understand and decide whether to kill, or chill, when facing a low ROI campaign.
When a campaign shows low ROI, it may be time to kill the ad spend and move on to a different campaign. Or, it may be time to chill, and let the ad spend continue to run, because the campaign needs more time to show ROI. This playbook helps you understand and decide whether to kill, or chill, when facing a low ROI campaign.
When to use the “Determining Kill or Chill on a Low ROI campaign” play
A campaign is showing lower relative ROI than other campaigns for a selected attribution model.
The “Determining Kill or Chill on a Low ROI campaign” play
- How long has Wicked been tracking clicks?
- Scroll to the right of the campaign row and identify the first click date.
- Check the Forecasted Campaign Evaluation Time
- How long do leads take to buy, if they don’t convert right away?
- Open up Predictive Behaviors report in a separate tab.
- Set the date range for last year and run report.
- The “Forecasted Campaign Evaluation Time” is our recommended minimum baseline of how long a campaign should take to start showing results.
- This timeline works for all campaign goals, even if the goal is not lead gen.
- If the campaign has not been running as long as the “Forecasted Campaign Evaluation Time”, chill and give it time before making a decision to cut ad spend.
- If the campaign has been running longer than the “Forecasted Campaign Evaluation Time”, you can cut ad spend if unhappy with the ROI if that is the decision after running the rest of this process.
- Measure the campaign using Linear ROI
Now we want to see where the campaign is making money in the customer journey, if anywhere. You might be able to move the ad spend to that specific point and turn off the ad spend elsewhere in the journey. Here is how to detect that:
a. Go to the ROI report.
b. Select the campaign in the campaign filter.
c. Select Linear ROI
d. Analyze the customer journey conversions
Scroll to the far right along the campaign row. There are fields “First Click Sales”, “New Lead Sales”, “ReEngaged Lead Sales” and “Last Click Sales”. These fields are telling you where the conversions are coming from.
Is there a significantly larger amount of sales occurring at either First Click, New Lead, Re-Engaged Lead, or Last Click sales fields?
CHILL - If there is high enough ROI somewhere in the customer journeyCHILL - If the campaign's clicks have not been tracked for a long enough period
VIDEO: Wicked Quick Win - Determining Kill or Chill on a Low ROI Campaign