Garrett Mayer-Goot

What's a convo ad?

Yeah, so a convo ad is a new ad unit on LinkedIn.

And so convo ads are really, really special.

You can only send it, a LinkedIn user can only receive one ad every 30 days.

Now the problem with Convo ads is they recommend the default bids to be like 30 cents.

And so a lot of people send them, but they never get received because they get outbid.

We don't ever do a bid for less than $5, for example, because it's this valuable real estate and it's about 70% cheaper than sponsored content.

It functions like a lead gen ad, but the key to this is gift cards.

So what we help people do is use gift cards with a full LTV CAC model and then base that off of opportunities or deals to drive revenue.

So let's say we're working with Sendoso and actually, ironically, sending gift cards with their platform.

The goal here is to look at all your channels in an LTV CAC model.

You take into account your gross margin, retention rate of customers, churn, all your KPIs, and you actually build out your lifecycle stages.

And you can start to answer the question, hey, if I raised another $1,100 million in funding, where would I allocate it?

And so we help our clients get really good with capital allocation.

And then within the actual convo ad, we're writing the copy and then using gift cards to get people to a meeting.

And then we're using tools like Chili Piper to get it to be scheduled so you decrease your no-show rates.

And we're essentially helping them drive pipeline, whether it's through convo ads, organic, or even, let's say, Google Ads.

Yeah, so we've tested millions of dollars of gift cards.

The most effective price point is $100.

I don't use $100 because I like everything we do to be shockingly memorable.