Digital advertising through social media or Google AdWords can be extremely effective. However, do you understand how to measure the success of your campaigns? RED takes a look at three of the most effective ways to judge your campaign analytics.
Impressions
If your objective is to increase brand awareness and get your ‘name’ out there – without a focus on ROI – then impressions and reach are good measures. These figures show the number of times your advertisement has been viewed.
However, a high number of impressions with a low number of conversions or clicks can indicate that you’re ‘casting your net too wide’ in terms of target audience. So, beware of only considering this figure – you need to ensure that you are only spending money reaching potential customers.
For example, let’s imagine you own a bakery, which only delivers in Leeds. It would be more beneficial to have 5,000 advertisement impressions from people living in Leeds, than 20,000 UK-wide impressions.
Clicks/click-through rates
Are you trying to encourage potential customers to view a specific campaign landing page? Or find out more about your business through your website? If so, click-through rates – often referred to as CTR – are a great way to analyse success.
It is also an excellent way to gauge whether you are reaching the correct audience – they wouldn’t have clicked on the advertisement if it wasn’t relevant to them.
You should also use tracking links and analytics to find out what these visitors do when they come through to your website. Do they stick around or fill in any forms provided? If so this shows that your landing page meets the promises/expectations from the advertisement.
Conversions/conversion rates
If you have an ecommerce website and are looking for a clear indication of whether your advertisement is making back what you’re spending on it, conversions are key.
Track what visitors from the advertisement are spending on your website, and compare these figures to the costs involved. Google AdWords, for example, already does the calculations for you. It will display conversions and how much each cost – does this match up with the average spend on your website?
Do you need help creating, optimising and analysing digital advertising campaigns? Please contact RED or find out more here.
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