The Agonizing Wait (or, look, but don't touch) - Matt Riskam

Posted by | March 14, 2013 | Marketing | No Comments

One of the hardest things for a client to do is endure what I refer to as The Agonizing Wait. This is the period of time in which a campaign goes live but does not yet have enough data to fully optimize and improve. In other words, it’s the time that the money has started to spend but it’s too early to make any sound judgement calls. During this period, sales can be nail-bitingly low and costs too high. Feelings of fear ensue.

I really understand and empathize with this. I’ve had to actively cultivate an acceptance of this period, but I have only done so by seeing this happen over and over, only to end up with a winning campaign some time later. My services are measured on results, not promises, so I’ve done my fair share of nail-biting, albeit quietly. The thing is, the most important thing you can do during this period is wait.

Yes, wait.

Let me back up: in the beginning, if the client and the agent have done their jobs well, they have discussed the company’s strongest, most unique selling points, identified goals and fleshed out a strategy for achieving those goals. Ideas are put forward from both sides; the best ideas float to the top and the lowest yielding are let go. There is a gut feeling of “this is the right way to move forward”.

But the thing is, nobody really knows the true path to success in the future 100% of the time. There are educated guesses and hypotheses, but in order to prove or disprove them we need to get the strategy in front of your real customers, in the real marketplace. And before you evaluate whether it’s working or not, we have to sit back, give it time and allow good, solid, statistically-sound data to accrue. This is about as comfortable as eating glass. But as the dust settles and the data comes in, our job becomes a hyper-focused rally between two points: evaluation and refinement. And the campaign improves. And improves some more.

Each ad requires a large amount of clicks to prove statistically that it’s better or worse than the next. As good, sound data comes in, we evaluate it, test new hypotheses against the control groups, and then let this new data play out. Eventually, both client and agent start pruning a campaign into a winner. I always keep the image of trimming a bonsai tree or sculpting marble to keep my discipline.

Deep breathing and antacids work, too.