19 July 2019
Google Analytics can only take you so far. Professional marketers who are looking to accurately measure advertising effectiveness need to go beyond the basic metrics and KPIs that typically define advertising data. Indeed, because of the evolution of the modern customer journey –– and the increased intricacy of digital marketing –– monitoring advertising performance has become more difficult. It has also become more crucial. With that in mind, today we’ll explain how to measure advertising effectiveness and improve advertising performance.
The customer journey doesn’t always begin online, and it doesn’t always end online either. This is the first key concept to keep in mind. Since many businesses spend large amounts of their marketing and advertising budget on both online and offline advertising content, it only makes sense to measure how well they work together. After all, offline advertisements, like TV and radio commercials are often made with the intention of driving traffic to a landing page or digital ad. Up until recently, though, it was impossible to determine how many online conversions a piece of offline content generated. With Advocado’s flagship product, MicroMoment+, businesses can finally identify clicks, conversions, and sales that originated offline. In addition, MicroMoment+ AdBot automatically boosts digital ad bids in conjunction with offline TV commercials.
Just as the customer journey may begin offline with a commercial, it may also end offline with a phone call. In fact, a large number of business-to-business transactions occur over the phone. And companies that don’t connect offline sales back to the online content that generated them with the first place are missing a major piece of the advertising attribution process. Lastly, it’s critical for marketers to be able to identify which pieces of content inspire sales –– as opposed to just clicks or even conversions. Only then can a marketing team calculate ROI, enhance current advertising performance, and develop future campaigns successfully.
The best tracking platforms incorporate all elements of an agency’s digital strategy. Remember, modern shoppers can and will navigate between channels as they see fit. In short, if a marketing agency wants to implement multi channel or omni channel marketing tactics, they need to measure how leads move between their various content pieces and advertisements. A sophisticated marketing strategy requires an equally dynamic tracking network behind it.
As mentioned above, it’s important for marketers to focus on the key metrics that will enable them to produce better results in the future. As such, highlighting the most meaningful KPIs (or, in other words, those most closely related to the bottom line) will help marketers improve their efforts and display the value of their work more clearly. That should also contribute to better agency-customer relations, and bolstered retention rates.