Efficiency: The state or quality of being efficient
Campaign Efficiency: Reach the target audience at the right place, right time, and for the right cost.
There are many aspects that come into play in the successful run of a digital advertising campaign – budget, audience, targeting, platform, etc. Each piece plays a vital role in not just the performance of a campaign but the overall efficiency in how that campaign runs.
Choosing the right platform, that matches your campaigns’ goals, is the first (and possibly most important) step to running an efficient campaign. Not to toot our own horn, but Choozle is continually innovating and adding tools to make the lives of our clients more accessible and more efficient. Within the Choozle platform, the efficiency by which you can build a campaign in Choozle is what sets our platform apart. With all data being readily available to intuitively make your campaign to reach the desired KPIs, ease of setup, and a simple interface, advertisers can build and launch their campaign within 10 minutes. Additionally, the dashboard presentation of reporting for updates makes it easy for users to see how their campaign is running and make real-time optimizations as needed.
The next step in creating campaign efficiency includes your digital advertising budget. No one likes to waste money, and no one wants to spend more than they have to. Set your max budget for the overall campaign and then follow by setting a budget for each ad group. Once the budget has been established, you can then choose a daily budget, maximum bid, and minimum bid. Depending on what platform is being used, these numbers may be selected for you, instantly increasing efficiency. However, the budget isn’t something you should set and leave. Be sure to keep an eye on what is performing well during a campaign. If there is one ad group or confident creative performing better than another, it will be beneficial to reallocate budget to those performing best. Additionally, certain types of ad groups will have higher costs associated with winning placements. Watch the daily performance and adjust max and min bids as needed.
Whenever launching a new campaign, it is important to take a look at previous data and understand who the audience is. Many times advertisers will believe their audience is one type of person and most often it’s the complete opposite. For example, a golf pro shop may think their target audience is men 40+ but after looking at the data from their digital advertising campaign, realize the audience is women 40+. Knowing who the audience will help you decide what type of ad group and targeting is best for your campaign. Additionally, this will help ensure that you are not wasting money showing your ads to an irrelevant audience.
Once you know who your audience is and what type of ad group and targeting will be best for them, you are ensuring that your ads will be placed in front of the people who will be most likely to engage. Understand where that person will be online when they are online, and even what type of content they may be looking at. By understanding the where, when, and what, advertisers can choose geolocation targeting for a specific region, state, or zip code, pick the times their ads should be shown, and select contextual categories for their ads to display on certain types sites.
With the understanding of the platform being used, budget available, target audience, and targeting for that audience advertisers can run their campaign more efficiently. Just by keeping an eye on the data and following the overall goals of the campaign, quick optimizations and strategic decisions will come quickly.