How to measure the effectiveness of your ad campaigns
Measurement is the secret to maximizing the success of any process, and your ad campaigns are no different. Find out how to measure their effectiveness.
It is impossible to determine the effectiveness of your campaigns if you have no way to measure the key performance indicators.
You should be able to tell what is working and what isn’t. Measuring the effectiveness of your campaigns makes it possible to direct your dollars where they are needed most. Here are a few tips for measuring the effectiveness of your ad campaign.
1) Multi-channel attribution and funnels
While you need to measure all your marketing channels and campaigns separately, it doesn’t always work like that. There are plenty of instances where they may overlap. You will see a clearer picture of your marketing efforts when applying attribution modelling and using multi-channel funnels.
2) Return on investment (ROI)
Return on Investment is the measure of revenue that you get from your sales campaign. If, for example, you spent $10,000 on your campaign and earned $30,000 in sales, your ROI is $20,000. This is one of the most effective ways of measuring the success of your marketing campaign. It gives you a good idea of the quality.
3) Create PPC reports
A good PPC report can tell the story of your ad campaign precisely and correctly. Consider using a PPC reporting template to test the effectiveness of your campaign. It should let you know if ads are doing anything for your business and its goals. Since all companies have unique needs, what is being formatted or tracked depends on your goals.
4) Campaign objectives
Every marketing campaign has unique objectives. One of the most effective ways to measure the success of your campaign is by considering if the objectives were met. If, for example, the goal was to increase the number of reviews on a new product, you can look at the number of reviews after the ad is complete.
Different marketers have different ideas of success. For some, success in digital advertising means getting a lead. For others, it means earning long-term revenue.
5) Monitor traffic
Keeping track of the traffic in your store or website is a fantastic way to measure the effectiveness of your ad campaign. Consider the traffic to your site before and after the campaign. It would be best if you had a good basis for making comparisons. Speak to new customers and find out how they heard about your business.
6) Learn the main advertising metrics
If you are advertising online, it doesn’t make sense to rely on the traditional click-through rates. While this metric may work for old forms of advertising, it doesn’t work for newer ones. Ad networks selling ad space on the web can help you track click-through rates.
They also provide you with performance reports. However, what you need to know is the number of time people are spending on your site. You need to know the number of pages they are viewing with every visit. This is the only way to find out if your audience is genuinely engaged.
7) Vanity URLs
Consider using vanity URLs to measure traffic and clicks. Offline ads often face the problem of attribution. Marketers should be able to determine how offline ads are driving business results. One of the simplest ways to do this is using ‘trackable’ online metrics. There are two ways to set up a vanity URL:
- Use Urchin Tracking Module (UTM). It is a code snippet that you can attach to URLs to capture the information of your visitors.
- Using a branded URL shortener
You may attach these URLs to various marketing assets, including outdoor signage, billboards, and print. Google Analytics will help you track the referral traffic.
There are many ways to measure the effectiveness of your ad campaigns. With the right measuring techniques, you can channel your money where it’s actually working.
Photo by Brooke Cagle