In this episode, the CEO of Agency Bell Jordan Bell talks about which metrics matter the most in digital marketing, how to identify the right metrics to measure, and how much time you should spend crafting a story around metrics.
Jordan Bell is regularly sought as an advisor, consultant, speaker, educator, and expert contributor in the areas of digital marketing, technology, automation, and startup management.
Jordan is the CEO of Agency Bell, a Digital Advertising Agency that leverages Machine Learning to build competitive advantages for high-budget digital brands.
He has founded and launched several successful companies, consulted or advised startups in numerous industries, and managed hundreds of millions of dollars in digital campaigns for Fortune-level companies. Here are a few of the topics we’ll discuss on this episode of The Consulting Trap:
- How to get started in digital advertising.
- Ways to calculate a lead’s value.
- The importance of metrics in digital marketing.
- How to identify the right metrics to measure.
- The metrics that matter the most in digital marketing.
- How much time you should spend crafting a story around metrics.
Connecting with Jordan Bell:
Connecting with the host:
- 12:10 – “If I could wave a magic wand I would want the metrics to be cost per new customer, customer acquisition cost, CPAs, the cost per acquisition however we say the conversion cost or CPA in advertising firms, so in the case of a law firm I’ll use that example that’s their signed CPA because they have to send a retainer agreement in plaintiff law and then the person has to sign that agreement and that becomes when we can associate a dollar amount with that so their signed CPA or signed acquisition cost, they might have a target of 2000 dollars on a case that they might make 10 to 20 thousand dollars on but they have to take that case the next 2 years and all the operation cost of all that, so the first thing that matters, the only metric perhaps that matters is first going to be the profitability metric which is cost per signed case, cost per customer.”
- 21:51 – “We want to draw the connections, we want to believe that the answers will draw connections that aren’t there because we’re so obsessed with getting the win, especially agencies and freelance marketers and all that we want the win so there’s a level of responsibility there it’s like a scientist who thinks they’ve discovered this amazing cure to something but the more they dig the more it’s going to fall apart those situations that moral compass scientists in medicine all that stuff is generally really good here, still has peer-reviewed stuff but the temptation is there to get the win and advertising doesn’t have a peer review regulation system, and so that’s if I were to say that’s the biggest dangers, understanding how to look at data and how it connects to business metrics is one of the biggest opportunities but we’re so far behind as an industry on that.”
- 24:08 – “Be absolutely unafraid of being wrong as often as possible, I have to not give any care about being wrong so that the moment that I discover that I don’t know what I thought I knew or there’s an opportunity where someone is speaking and I realize that I can learn a lot from them that I shut up and I just sponge, keep talking what can I do for you I don’t care how far I get in business or in life there is always going to be someone or many people who as soon as I’m in the room with them I realize this person I admire them I want to learn from them and I don’t need to prove that I’m right I don’t need my ego in the equation I’m going straight down into the humblest spot because that is how we learn the fastest.”
- 27:12 – “Working on ourselves is over any skill is the best investment, I didn’t always have the opportunity to I was flat out broke when I moved to California and struggled for a long time but when I was able to I found ways to get coaching or read things about coaching that were professional personal, understanding ourselves, I’m neurodiverse so the more I understood myself through things like Myers-Brigs, Strengths finder and also worked with coaches being not afraid of working with a therapist, guys should find a great therapist. Those create massive foundation as we’re adults especially to heal trauma, unpack the things that are difficult, and set a foundation for us to have that capacity to reach potential whatever that is for us because the weight from the things we struggle with and don’t realize we struggle with prevents us from achieving and living the way that we want to live.“