Digital marketing is an ever evolving process. To enhance this process, you must understand how to effectively optimize your campaigns. Here are four ways to do so.
Optimizing your campaign according to the click-through rate is controversial. This is due to the fact that customers are migrating to mobile platforms. With this migration, the size of content on mobile platforms are making it hard to determine what are “real” clicks. For instance, how often do you mistakenly click on an in-app ad or have to scroll through an ad to get to the intended content? All of this makes it hard to determine what’s a real click and what’s an unintentional click.
The best time to optimize your campaigns based on a click-through-rate is when you’re A/B testing. This will help determine if you’re peaking your customers’ interests and whether or not your campaign is misleading in some form or fashion. (Compare your click-through-rate to your conversions. See below.)
Cost is very important when you’re working with limited resources. Under such circumstances, it’s optimal to optimize your campaign by reducing cost. If you’re campaign is costing you $3.50 per click, yet you’re only getting one lead, it may be time to reevaluate your campaign. However, paying $0.25 per click and not getting any leads is just as ineffective. Try focusing more on cost per lead instead. This may be complicated to calculate. The buying process is continual and other factors impact the purchasing process, but comparing your spend against leads acquired will help identify which component of the buying process isn’t working.
If your focus is on increasing brand awareness, measuring your campaigns’ success based on impressions is great. In my opinion, it’s the easiest way to optimize your campaign. With impressions, you’re trying to get your content and brand’s name in front of as many people as possible. If you have a large budget, that’s quite easy. However, optimizing your campaign for impressions can be tricky. How do you know you’re not re-targeting the same potential customers? How can you more effectively measure growth in brand awareness? There are several things you can look at if they’re available. You can compare your reach to your impressions. You can define your target market more explicitly. And ultimately you can survey your audience about your campaign. Always remember to present your results within context.
This is the best, but also the hardest, way to optimize your campaign. Did your intended audience respond effectively to your call-to-action? Did they complete what you asked them to? Again, there are many elements that contribute to the purchasing process. Despite that, this is the most effective method to determine your campaigns impact.
To make it easier, compare the cost of each contributing attribute first. Next, identify how much of an influence each component of your campaign contribute to a lead or sale. This process will take heavy analysis and evaluation. I suggest making it as simple as possible from the beginning and then adding your layers of impact. Comparing your conversion against the afore mentioned (impressions, cost and click-through rate) will help you create the optimal campaign.
The way you optimize your campaigns depends on your marketing goals. Follow the above methods, and you’re on your way to getting the most out of your campaigns.