Reza Khadjavi: some backstory to how this session came to be. For those of you who know Taylor Holiday, uh on Twitter, he he does an incredible job stirring up a lot of interesting discussion as as long as I've known him on Twitter, every year, he'll have like a few topics that he's really bullish about. And regardless of whether you agree with him or not, he, um,
Reza Khadjavi: he gets people to think, right? And so he he put out a tweet which sparked this whole debate. Uh, if we can get that tweet on stage.
Screenshot of a tweet from Taylor Holiday (@TaylorHoliday) posted on July 8, 2023. The tweet reads: "Does anyone have any research that validates that “creative metrics” like (thumb stop, CTR, engagement, etc) have ANY RELATIONSHIP to financial performance? I’d love to read it. Pretty close to tossing out all language related to these measures."
Reza Khadjavi: In July of this summer, and he asked the question, and this tweet like really kind of exploded. A lot of people jumped in, a lot of people had really strong opinions about this, as they usually do with with Taylor's hot takes. So the question was, does anybody have any research that validates that creative metrics like thumb stop, CTR, engagement, etc, have any relationship to financial performance? I'd love to read it.
Reza Khadjavi: And then this is this is the kicker.
Reza Khadjavi: Pretty close to tossing out all language related to these metrics. And so, um, one of our other panelists today jumped into that tweet and it just went, it just kind of blew up. And so immediately, I I'd reached out to the both of them and said it'd be great to have you at the Creative Strategy Summit and dive deep into this discussion. So, let's uh, let's bring on our panelists, please.
The screen splits into four video feeds. Top left: Reza Khadjavi, CEO, Motion. Top right: Jess Bachman, Creative Strategy Director, Fireteam. Bottom left: Taylor Holiday, CEO, Common Thread Co. Bottom right: Kyra Richards, Creative Strategy Lead, Motion.
Reza Khadjavi: And here we go. So let's let's introduce these great minds to the stage. I spoke a little bit about, um, about Taylor, but Taylor is the CEO of Common Thread Collective, uh, which is an e-commerce growth agency. Taylor is the dad of three and was a draft pick for the New York Yankees. And Taylor has built Common Thread into an incredible organization with over 130 employees.
Reza Khadjavi: Jess Bachman, uh, also quite active on Twitter. Jess is the creative strategy director at Fireteam. The Fireteam is an agency filled with incredible performance marketers. Jess is a father of three kids, two cats, and three dogs. And according to LinkedIn, he once wrestled John Cena. So we need to hear a bit more about that, Jess.
Reza Khadjavi: And finally, we have Motion's very own Kyra Richards. Kyra is our head of customer success. She works with and advises our top tier of D2C brands on their creative strategy. Before joining us, Kyra worked at Facebook as an account manager for e-commerce brands. And then after that, she managed paid social at the fitness brand, Tonal. We've got their LinkedIns and Twitters on the chat. Please follow them and also please add your own, um, Twitter handles. Let's all follow each other. This community is kind of becoming the the unofficial creative strategy community. So let's keep in touch and uh, and and continue these conversations on social afterwards. So, before we kick off and hear from our panelists, I want to ask the audience, if we can get a poll up,
A poll appears on screen with the question "Is there a credible relationship between creative metrics and financial performance?" and two options: YES and NO. The results are initially 0%.
Reza Khadjavi: um, I want to ask all of you if you think there is any relationship between creative metrics and and financial performance. So let's get this poll up and let's hear what you think. And then we'll see if after the session, if you've changed your mind at all. Have we gotten the poll up?
Reza Khadjavi: Okay. Oh, I love it. Look at that. I love it.
Reza Khadjavi: Oh.
Reza Khadjavi: Well, I got to tell you all, Taylor is quite convincing. And and so we'll hear everybody's opinions here, but, uh, as a sneak peek, I think Taylor is the only one truly representing his point of view. So he's a little bit outnumbered here, but he can take it. He's usually the contrarian and up against a large number of people who disagree with him, but that doesn't usually matter and he's able to hold his own. So it's all right. Taylor can handle it.
Reza Khadjavi: Um, so let's kick off with you, Taylor. Tell us about that tweet. What led, what led to it? Do you still believe in that today? Just give us a little bit of background of like what what got you to that point to, uh, to put out that tweet other than liking to rile up the Twitter community.
Taylor Holiday: Well, yeah, it's funny because even the way that we're interacting with the tweet is the idea that I expressed an opinion. And I I would just contend that I actually didn't at all. I just simply asked for a standard of belief to be crossed for myself. And that and that's genuinely what I'm after is I actually am pretty agnostic to this issue. I would love for it to be true that I have clear indicators to make decisions on with creative. But I have seen no evidence for it. And so even what I was genuinely requesting is I would love to read the research and understand how to apply these ideas in practice. Because a lot of the way I think about things is I run a company where we have to deploy process across lots of people. That's what an agency is. And so I have to come up with a framework for making decisions.
Taylor Holiday: And so the question I'm after is what is that framework? What is that decision? And what evidence do I have that it will produce better results for my customers? And and there's more experientially in there that I've that I've done and I have done a bunch of our own research and I've never found anything. So I was genuinely, uh, inquiring and it seems like because so many people here believe I should be the chat should be flooded with the evidence. I'd love to see it. But as of yet, I haven't found it.
Reza Khadjavi: Very, one follow-up question for Taylor and then we'd love to get Jess and Kyra's opinion. Did you end up tossing out all language related to these metrics or are you still using them in some sense and trying to find that like, you know, firm correlation?
Taylor Holiday: Uh, we are actually still in our own research phase. So I we have continually over time tried to raise the standard for belief. Like this is a a principle that I think of in life generally in an era of lots of disinformation. I think it's a pretty important practice to try to say at what point will we definitively say something is true. And I think we are in the process of trying to reach that conclusion. We literally will have a paper that we're going to publish here in the next week or so about this topic. But I'm I'm curating information in a way. So no, we haven't tossed anything out because I'll tell you what, there are a lot of customers that just are in love with these things and demand it and their internal process requires it. And so we're in a dialogue with other people's opinions, uh, alongside our own all the time with customers. So it's not how we build our creative process. It's not around these metrics. Um, but they still you often you'd find them in reports, you'd find them in conversation and dialogue with the customers.
Reza Khadjavi: Love that. Would would love to get back to you on hearing more about what the creative process looks like in the absence of these, but we'll get we'll get to you, we'll get back to you to elaborate on that. Jess, tell us your tell us your perspective. I think you you replied to that tweet with a very firm opinion on this. Tell us about it. What did you what did you say and what do you think about the response to Taylor's request for information?
Jess Bachman: Um, what I think was really interesting about that tweet is not that there's like a lack of, um, proof or evidence is that there's actually evidence to the opposite case. And I've run the correlation of those metrics to ROAS on our data. I know, um, Andrew Ferris has run it on his data. And Taylor, I don't know if you've looked at that on your side with your data, but the correlation is not there. And so as a creative, I'm like, I'm like, you know, it's like a earth shattering, does this even matter? Who am I? type moment. And you have to sort of process and sort of work through that. Um, and I think there's a few points. I think one is that fundamentally that correlation doesn't exist because it's a there's just a lot of dirty data going on. And like the more you spend on an ad, the bigger a winner it is, the more downward pressure there is on these creative metrics as they have to appeal to people that aren't the lowest hanging fruit. Um, as well. But also like these metrics like thumb stop or or hold rate, they're just they're really just a few actions in a very long chain of actions that will eventually lead to a purchase. And so if you're looking for like trying to find the correlation between the start of the chain and the end of the chain, I'm not sure you'll ever find it. Um, and you actually you do see this type of like confusing non-correlation in other things like, um, in baseball, a batting average does not correlate to to wins. And in in football, like total rushing yards or total passing yards has a low correlation to to winning the game. So the so like the running back and the quarterback, like they still go out there and they still got to do their thing and try and maximize yards on each play, but it feels like for me, like the creative metrics is like watching game film. It's like after the game, you go back and you look at it and you see where you could improve, where the adjustments are, you make those adjustments and then you hope that they they do better and hope for a better financial outcome.
Reza Khadjavi: It sounds like one of the challenges here and you you mentioned this, Taylor, that there's like somebody who will see a video and click in like sub one seconds, almost certainly that person already has some context about the brand and they're like they're in market, they're ready to make a decision. So I I guess one of the issues here seems to be the challenge of understanding the contribution of a variety of ads that lead to a purchase. Like we don't see that data, right? You you put out a bunch of ads, you don't actually understand if one particular customer has seen these four or five different ad creatives over the last week. Like I'm sure that Facebook is doing that, right? Like they understand who's like interacted with a certain piece of creative and then like serving up more almost like an auto retargeting based on their own algorithm. Surely that's got to be part of their process. And so is that part of the problem that it's it's very rare that one individual ad creative is going to be served to somebody that's the first time they learn about this and then they they click and they purchase. And if they do, you're probably see that in the engagement data, right? If it was the very first time they're seeing, like chances are they did stop on the thumb stop, they did consume the video, they did click through and they did purchase in that very linear fashion. But is that part of the problem that you're not able to see the story of the contribution of multiple creatives in that decision making of one one individual customer? Is that the reason why you don't see the correlation of such things one to one with one creative and the outcome? And it's more about the combinations.
Taylor Holiday: Yeah, that's a big part of it for sure. Yeah, you again, that's the context in which the ad exists is different in every scenario. And that makes it really hard.
Reza Khadjavi: And so you and so you take that and so Jess mentioned something earlier and he delivered it as like as self-evident and you challenged it. But can can we go back to that? Is it not self-evident to say that you would rather somebody consume the first three seconds of your video versus not, versus scroll past it? Surely everybody says, yes, I would prefer that versus not. Not talking about like
Jess Bachman: Well, that's what brand awareness campaigns will get there.
Taylor Holiday: Yeah, exactly. But that's sort of the point. Exactly, Jess. And I I'm appreciate you saying that. It's like, I think if that was the objective, Reza, like you there's a way to accomplish that more effectively.
Reza Khadjavi: Well, I'm thinking about less about truth, less about truth, more about like, would you would you want this? If somebody asked, if somebody asked a brand, would you like it if every person who saw this ad stopped and watched the full video? Surely everybody says, yes, I would prefer that versus not.
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I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I don't know. I've got the whole video transcribed and annotated. I'll do a final check for accuracy and formatting. Looks good.