Online advertising is a major part of most company marketing budgets. You need to do more than invest the money in ads, though, if you wish to maximize your returns. To make the most of digital advertising, look at these four areas of the process.
Fortunately, nearly all online advertising platforms offer access to extensive data regarding impressions, clicks, and conversions. They also frequently offer access to anonymized demographic data for groups of visitors. Make use of this data to track ad unit performance.
You should also consider building campaigns around links using specific URLs on your website. For example, you might embed a code in the URL for a specific social media ad campaign. You can then use the logs on your sites to track the performance of specific appeals, ad units, and referring sites and apps. Likewise, you can compare your data to the platform's analytics to filter the data and get a clearer picture.
Few people sit down with one device for all their online activities. People use phones, TVs, laptops, desktops, and tablets frequently. You will even see users access the internet with voice assistance, in-dash systems in their cars, or even screens on their fridges.
Ideally, you want to create a profile to market to each person across all these channels. By integrating multiple channels, you can follow up on previous impressions. If someone previously clicked an ad on a social feed, for example, you might send them a video ad later when they use their TV. This can serve to reinforce your message and brand presence.
Key performance indicators are critical. You need to study how online advertising units perform in terms of impressions, clicks, demographics, and conversions. An ad might drive lots of clicks but few conversions, for example. If a unit is costing you money without producing conversions, there's a good chance you'll need to create a new appeal.
Similarly, you'll want to make sure your conversions are driving demographics that are profitable. If ad units offering coupons mostly attract bargain shoppers, you may need to adjust your appeals to drive a different type of sale.
You don't want to spend on digital advertising in areas where people can't buy your product, especially if you have a limited sale area. For example, a family restaurant in Vermont probably doesn't need tons of ad impressions for folks who live in Oregon. A geofence allows you to limit impressions to locations where targetable users live.