Posted on December 9, 2019 by Jared Harrington
Knowing how successful advertisements are is an important part of designing and revising ad campaigns.
The more data you have regarding an ad’s performance, the better you’ll be able to design future ads for your brands or products. This is especially important if you are running ads on multiple platforms, since you can’t use sales or contacts as a clear-cut metric. Instead, you need a way to measure the success of specific ads across an entire campaign.
There are a few ways to accomplish this. One useful method is employing digital analytics to track the performance of your advertisements. Through the use of digital analytics you can track how well your ads are working and make plans to improve them in the future.
You may even discover advertising options that you didn’t realize you had access to.
Using digital analytics
Unlike many tools that are used in advertising, you can actually use digital analytics for free using tools such as Google Analytics.
The advantage of using tools like these are that they are not solely focused on market analysis; while they can help you determine how successful your TV ads are, they also provide you with a way to analyze other data that is relevant to your marketing efforts.
By analyzing data over the longer term you can discover what works well, what doesn’t and you may even discover trends that had previously gone ignored.
Taking advantage of attribution models
There are a number of ways that you can analyze your ad campaign data using digital analytics.
One of the most popular is through the use of data-driven attribution, a model that makes automatic adjustments to its calculations based on previous results. You aren’t tied down to using a single attribution model, however, and there are distinct advantages to trying out different models as well. For example, you can adjust the focus of your analytics to provide data about things such as organic search and direct address visitation to help you find those consumers that were searching for your company or its products.
By using different attribution models you are also more likely to discover important aspects of your campaign (or its failings) that might be missed if you only use a single attribution type.
The power of custom offers
One prime example of how these attribution models can help is if you use custom vanity URLs in the ads placed on different channels or feature slightly tweaked offers on each.
Your digital analytics results will help you discover which offers and URLs were most popular, giving you insight into which channel or platform offered you the greatest return on your ads. Depending on how much you customized the offers, you may also gain insight on which aspects of the offers viewers found most appealing and which they weren’t interested in.
Monitoring search volume
By monitoring search volume during your campaigns you can also gain insight into how many people want to learn more about your company or products.
In most cases, search volume will increase during the course of an ad campaign and will focus on the specific products or keywords used within the campaign. As with custom offers, you can tweak your ads for different channels or markets to try and generate slightly different results and track interest by monitoring search volume.
You can also run different ads in different markets (likely with different vanity URLs as well) to create test markets that you can monitor through analytics.
Planning future ads
As you collect more data from digital analytics, consider what it’s telling you about both your ads and the markets that you’re targeting.
This analytic data should enable to you not only adjust the focus of your ads but also their content. Through the careful use of analytics you can determine what works for your company or brand and what needs to be changed.
Applying these changes and tracking analytics results over time will help you to get a much greater return on your advertising spending.