Ever wonder what marketing will look like in 2020? Jeff Goldenberg, Chief Strategy Officer at Abacus Agency and Former Head of Growth at Borrowell, dishes out his thoughts on machine learning, attribution, data, accountability and more. He also shares with us the difference between “champion” and “challenger” campaigns and how to split your marketing budget between the two.
“Marketing now has become less of an artistic industry more a scientific industry.” – Jeff Goldenberg
What You’ll Learn In This Episode
- What marketing will look like in 2020
- How to split your budget between “champion” and “challenger” campaigns
- How to create and prioritize hypotheses
Some Quotes From This Episode
“The amount of media that’s being spent artistically not scientifically even when the data is readily available is just unbelievable.” – Jeff Goldenberg
“We split our budget into champion and challenger. You could money into the champion, which is the best thing working to-date and then challenge it with the challenger. The split depends between the two depends on whether you want to emphasize results or learning.” – Jeff Goldenberg
“I’m a big fan of companies with more money. It lets you be wrong more often. It lets you bring on the best people.” – Jeff Goldenberg
“We prioritize our hypothesis in terms of what we’re most curious about.” – Jeff Goldenberg
“In 2020, code and data are going to be more important than art and copy.” – Jeff Goldenberg
“Abacus believe that the future is the man and the machine, not the one over another.” – Jeff Goldenberg
“Your outputs are a function of your inputs. So, you need to have a broad diverse group of inputs to have the right outputs.” – Jeff Goldenberg
“There’s this concept of idea sex. Ideas have sex with each other and produce new ones. That’s how I come up with ideas.” – Jeff Goldenberg
About Jeff Goldenberg
Jeff Goldenberg is the Co-Founder of Abacus, the #1 digital agency specializing in performance Facebook ads. Previously, he headed up the marketing and growth team at Borrowell, an innovative financial services startup that will offer competitively priced loans to consumers with good credit scores looking to refinance credit card and other high-cost debt. They were the first company in Canada to launch Free Credit Scores with Equifax and have given over 200,000 Canadians their credit score for free. In October, Borrowell partnered with CIBC to offer One Click Loans – the first partnership of this type in Canada. Jeff is also the Co-Author of The Growth Hacker’s Guide to the Galaxy. Jeff is an Entrepreneur in Residence at MaRS, Mentor at 500 Startups and Techstars
Show Notes
-
-
01:51
How he got to where he is now
-
04:44
Ran marketing for Toronto Argonauts
-
05:56
Made Fantasy Poker Camp
-
07:49
Came back to Toronto from travelling to different cities
-
09:27
The thread that brought him into growth
-
10:06
The growth mindset for Ramli
-
11:45
Making complex decisions simple
-
14:11
His thoughts on why the amount of media that’s being spent artistically and not scientifically even if the data is readily available
-
15:53
The people that will change/evolve the industry
-
16:55
Three ways on turning a Rubik’s Cube
-
18:44
Splitting the budget into champion and challenger
-
19:43
His thought on start-ups taking too much money too soon
-
20:54
His uncle developed e-mail that Microsoft bought and became Outlook
-
21:44
How he sets up his experiments
-
22:33
How he does hypothesis with the team
-
23:58
The companies he’s working with at Abacus Agency right now
-
25:40
Other things he’s seeing for 2020
-
25:50
What is Abacus Agency?
-
27:28
Creative people need to get into the program
-
28:29
How he defines growth marketing
-
31:03
The reason why he started Abacus
-
36:51
His thoughts about where Facebook, Instagram, and social Ads are going
-
44:03
Tips to the listeners
-
Links
Music By The Passion HiFi www.thepassionhifi.com.