How many of you have noticed how marketers are getting it all wrong with digital advertising and in particular with internet advertising?
Many marketers still approach internet advertising as they did traditional advertising mediums like TV and radio all these years.
What I see very much of these days is marketers splashing millions of naira on internet and social media advertising campaigns and the minute the campaign is over, the campaign is over. Very few actually realize that one of the major advantages of internet advertising is it measurability. You can’t just set it and forget it, internet advertising needs to be continuously optimised.
Internet advertising campaigns are very easy to measure and compare against a campaign goals. Marketers are content with seeing that their ads are running across all the channels agreed and that the one million impressions promised was indeed delivered or than twenty thousand Facebook fans were indeed signed up.
Managing your success online and ensuring cost-effective spending online is actually quite key for a very successful marketing strategy for several reasons.
First and foremost for the particular campaign you are running, are you sure you should be running a CPC campaign or a CPM campaign, do you even know the difference ?
Are you able to actually track your number of conversions ? Are you able to link online clicks with offline sales ?
Are you able to track your cost per conversion, which could actually show if you are wasting too much money online?
What is your click-through rate ?
Do you know at what time of the day your ads are most effective?
Which of your multiple running ads is your most effective and do you know what to do to optimise the not so effective ones ?
Internet advertising requires marketers to be properly trained to make sure they are able to optimally use the platform. Tracking the effectiveness of your online advertising is a critical factor in business success and optimising your marketing budget. You need to be able to compare the effectiveness of your ongoing campaign to the campaigns’ predefined KPI.