When running a digital advertising campaign, you can set yourself up for success from the launch of your campaign and continue to be efficient with how you spend your budget and measure your success. But, how do you know if those efforts are actually helping your campaign run efficiently? There are a few main pieces that will show (and tell) you whether you’re running an efficient digital marketing campaign—performance metrics and budget.
Performance Metrics
First, it’s important to point out that what is efficient for your campaign may not be the most effective strategy for others. Before launching a campaign, performance goals should be set to determine where your campaign should be with the daily budget, click-through rate, win rate, impressions, and/or cost-per-acquisition. Hitting performance metrics shows that your budget is being put in the right place and your campaign is reaching the audience it needs to reach to achieve the overall goals.
If your performance metrics are falling behind there are strategies that can be used to make adjustments and create the results you want to see.
Check out these posts for more information:
“What tools help with campaign efficiency?”
“Metrics that translate to marketing campaign performance”
Full funnel conversion goals
Full-funnel marketing is built upon the idea that not all marketing tactics and channels serve the same purpose or audience. At Choozle we recommend creating an omnichannel, full-funnel, digital marketing strategy that utilizes multiple tactics to reach several audiences and drive them towards the conversion stage of the buyer’s journey. The tactics that drive each section of the marketing funnel are different and utilize different performance metrics to show their results. An incremental conversion goal is set for each stage to keep leads moving through the marketing funnel. For example, a campaign speaking to top-funnel prospects will focus on sharing your brand and will track metrics like earned impressions or video completion rates to show success in creating brand awareness. While a campaign at the bottom of the funnel is focused on booking demos or driving in-store visits, and will use metrics like form completions or landing page traffic to realize your most qualified leads and measure the effectiveness of driving consumers closer to making a purchase.
Check out these posts for more information:
Budget
Another way to tell if you have an efficient digital marketing campaign, which coincides with performance metrics, is if your budget is meeting daily spend caps. This is also known as pacing. If you’re hitting your daily budgets, your campaign is spending the amount of money it should be, which in turn would mean reaching your targeting audience. An efficient campaign should use the entire budget within the campaign flight date.
Check out “How can you be efficient with your budget?” for more information on budgeting during a campaign.
If performance metrics and budget line up, you can now say you are running an efficient (and effective) digital marketing campaign.
