Top 5 Marketing Data Points Guaranteed To Help You Score Big 🏀
March 1, 2022 | Share: |
3.5 minute read
When it comes to developing a paid ad campaign that’s going to be a slam dunk, it’s alllll about the points…data points! In this article, we’re sharing our game plan that’s guaranteed to give you a winning campaign.
Including:
🖐🏽 The top 5 data points to consider
🏆 How to use each of them to your benefit
🥇 And insider insights from our very own Director of Marketing
We’re passing the ball to you. You ready to score?? 👇🏽👇🏽
Top 5 Data Points :
1. Conversions
What Are They? “The moment when the recipient of a marketing message performs the intended action.”
How To Use Them? One of the best ways to measure the success of a campaign is by monitoring the conversions it generates. Think of each conversion as a representation of your goal being met. A sale being made, an email address being provided, a promo code being used, anything.
So when you’re planning out your next ad campaign, think of what you want it to achieve. Obviously, you’ll develop your creative strategy around reaching that goal. But when you’re looking over the analytics, be sure to pay extra attention to your conversions.
This is where you’ll find insights into why someone performed the intended action vs those who saw your campaign and didn’t convert. Look for patterns and use the data to adjust and hopefully keep increasing those conversions.
2. Reach & Impressions
What Are They? Reach is the total number of people who see your content. Impressions are the number of times your content is displayed, no matter if it was clicked or not.
How To Use Them? Reach and impressions will help you determine how skilled you are at defining your audience and distributing your campaign accordingly. Anyone can cast a wide net, but how well did you bait the waters? In other words, how much thought was put into your audience?
It’s easy to get distracted by the high numbers your reach might show, but how many of those views are leading to clicks? And even more importantly, conversions? If your mega reach isn’t resulting in at least some conversions, maybe it’s time to adjust your strategy.
3. Clicks
What Are They? A marketing metric that counts the number of times users have clicked on a digital advertisement to reach an online destination.
How To Use Them? When running a digital ad campaign, clicks are going to dominate your metrics. They determine the success of your campaign and often your budget and ability to keep up with your competition. Every click represents one potential customer or one interested audience member. And each one holds value and shows that your marketing money is being well spent. A lack of clicks means a lack of interest, which should tell you it’s time to adjust your messaging.
4. Click Through Rate (CTR)
What Is It? Different from clicks alone. The CTR is a ratio showing how often people who see your ad end up clicking it. To put it mathematically: clicks ÷ impressions = CTR.
How To Use It? The CTR is an extremely important metric to take into consideration. It will show you how interested your audience is in your campaign message. It’s a great way to ensure the content you’re putting out is engaging and really grabs a hold of people’s attention.
Your CTR doesn’t have much to do with how many people were exposed to your campaign, but rather how many of them cared. A high CTR tells you that of those that saw your ad, most were interested enough to click to learn more. Whereas a low CTR represents an uninterested audience. Which means either your content or your audience should be adjusted.
5. Engagements
What Are They? Engagement marketing uses techniques, strategies, and practices focused on boosting audience participation, providing the appropriate scenario for building a good relationship with leads, customers, and users. The way we see it, engagement means consumers responding to their emotions with action.
How To Use Them? An engaged audience is an interested audience. And in this day in age, audience engagement is typically even more important than just making a one-off sale.
When it comes to digital campaigns, people want to be entertained. Think of what your content is competing against: funny TikTok videos, social media posts, the TV show your audience is watching. How can you make your content stand out and evoke enough emotion to inspire an action?
If you notice a low engagement rate, maybe you need to incorporate a more powerful call to action, or use more story telling techniques. If you don’t tell people how you want them to engage, how are they supposed to know?
INDIRAP Insights
We reached out to our very own Director of Marketing, Deepu Thomas, to offer up some insider insights into the data points he looks to frequently when analyzing how well a paid ad campaign is performing and why they make such a huge difference👇🏽👇🏽
1. Why is data so important when running a paid ad campaign?
If I were to ask you how much it takes to acquire your typical customer, would you know the answer to that? If not, running a solid paid ad campaign and looking at the analytics is a great way to extrapolate that data and make an informed decision on allocating resources to specific marketing campaigns.
2. What Data Points Do you tend to focus on? Why?
The way I see it, creating engaging content is vital, but I always have to stay mindful of costs. That being the case, the two data points I tend to focus on the most are the click-thru rates (CTR) conversions.
The CTR provides a quick way to decipher if your target audience cares about your ad. The higher the click-thru rate, the higher the engagement. This data point alone can reveal if a campaign is a hit or a bust. Another important metric is the number of conversions coming in and how much each conversion costs you, also known as the cost per lead/acquisition. This info allows me to stay on budget and ensure my marketing dollars aren’t being put into an unsuccessful campaign.
3. Can you give an Example?
Suppose it costs $25 to convert a customer into purchasing your product or service for $500. In that case, that’s $475 in additional revenue that you would’ve missed out on if you weren’t running a paid ad campaign.
There ya have it
It takes time to really understand certain data points and turn that knowledge into insights. But when your money’s on the table, there really isn’t any other way. Developing content for your paid ad campaign is just the first step. You can’t just put it out there and hope for the best.
If you want it to succeed, the answers you need are all in the data. You just have to know where to look.
We’re continually evolving over here at INDIRAP. Whether it’s the content we’re putting out, the brands we look to for inspiration, or the technology we use. We’re never satisfied standing still.
So if you’re looking for a company to continually challenge you and help you grow, you’ve come to the right place.
