A client just had a really cool accomplishment.
We started out with an ad on a certain platform that was getting a .5% click-through rate.
I actually don’t have a benchmark for a typical CTR on this platform is, because I have yet to find any published guidance on that, and it always varies by industry and audience.
But, after 3 iterations of my ITERCUTION approach, we have now 9X’ed the ad’s performance.
It’s getting a 4.6% CTR.
That’s AMAZING progress! What if you could always cycle up like that to get better and better results?
ITERCUTION = Iteration + Execution.
There’s really no way to NOT continually improve if you use this approach right.
I coined the term to describe the execution cadence I use in my marketing, but it can actually be used for anything in your life.
It was Ray Dalio, the legendary hedge fund investor, who first sparked the formation of this idea in my mind as he described his system for accomplishment on a recent podcast with Tony Robbins.
I’d been following something like this, but something about the way he described it helped me see it in a much clearer way.
The basic process looks like this:
1-Week ITERCUTION Cadence
- Day 1 – Decide what you want (in marketing, this is the result you’re trying to achieve this week – a certain CTR, a conversion rate, a certain # of customer acquisitions, etc.)
- Day 1 or 2 – Create a bold, strong hypothesis about how you can achieve it (be very opinionated. The keyword here is strong).
- Day 2 or 3-6 – Execute the plan you created in your hypothesis.
- Day 7 – STOP and evaluate. Did I generate enough data to prove my hypothesis? Did I prove my hypothesis? If so, how can I build on the results and new data that I’ve gained?
- Day 7 – Start over at step 2.
There are definitely some important nuances to executing each of these steps, but this is the general outline.
This cadence guarantees that you’ll execute on a schedule (it keeps you from procrastinating or slowing down due to uncertainty – something I’ve struggled with).
And it makes it highly likely that you’ll see weekly improvement in your performance.
If you can hold yourself to following this pattern on a weekly basis, you’ll be surprised at how quickly you can progress the thing you focus the process on.
Andrew Schultz is the founder of Conversion Box.
He is obsessed with insanely high conversion rates and customer acquisition.