The beauty of digital advertising is that it is interactive and everything can be measured. If your campaign’s Key Performance Indicators (KPIs) are properly set up and monitored, the performance of your advertising campaign can be evaluated (almost) immediately. Of course, this assumes that your online advertising agency has established the right analytics for measurement, but that’s a topic for another blog post.
With traditional advertising, your media is negotiated months in advance and your creative is developed even further out than that, and the actual results of your advertising can be fairly ambiguous. Online advertising provides immediate results and the ability to quickly review your advertising’s performance and optimize accordingly. What you choose to measure is up to you, but some of the more common metrics for digital advertising include Click Through Rate, Impressions, Interaction Rate, Conversion Rate, and Cost Per Click.
So what do you do after you have all of these fancy charts, graphs and numbers?
This step is key: OPTIMIZE.
Don’t just review the reports for the sake of knowing how your ad is performing. Analyze the campaign’s performance with your online advertising agency. Compare the results with the benchmarks your agency should have set up pre-launch. Is the campaign exceeding your goals? If so, congratulations! If not, now is the time to change course. And regardless if the campaign is under- or over-performing, you can always use the analytics to further optimize and enhance the advertising.
If one placement is performing better than another, change your media strategy. If one call to action proves to be more compelling than another, update your creative. If your bounce rate is high, evaluate whether the link is sending the user to the proper place.
All the measurement in the world doesn’t matter if you don’t use the information given to optimize your strategy. Use the tools at your disposal and make your marketing dollars go further by altering course when needed.
Are you currently analyzing your digital campaigns and optimizing? Leave a comment and let us know what you’ve learned in the process.
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