Last Updated on February 3, 2022 by justin
To increase the value of your advertising, you need to continually learn more about your audiences and understand how you can use these insights, as well as how Google and Facebook’s platforms work. Here are five tips that you or your agency can implement directly to increase ROI from your advertising budget.
Focus on useful insights from your data and the right optimization for your goals
In order to get as good an overview as possible of your target groups, well-functioning tracking is a necessity. Only then can you analyze the entire customer journey and take out insights that you can then use to e.g. build test. When you continuously test target groups, keywords and the ad itself, you can constantly learn more about what works best for your target group.
It’s easy to assume that your agency knows your target audience as well as you do – but this is often not the case. They add specialist competence to your target group insight.
Focus on metrics that are relevant to you
“Vanity metrics” is a measure that looks good but does not help you understand your results. It’s a metric you can not act on. A high number of impressions on an ad does not mean much, but how far ahead in the customer journey those who clicked on the ad actually came is a relevant metric.
Advertising is not just about procurement – advertising for the entire customer journey
If you aim to buy installs for your app, it is easy to invest in getting as many and as cheap downloads as possible. Here you often forget to take into account which users you actually buy into. It can often be worth buying a number of more expensive installs, as some of the “more expensive” users may generate more value in the long run. It is therefore important to measure the value of your marketing against both ROI here and now and against the importance of reaching segments with higher LTV.
This requires that you can discern which customers will be more loyal and can build segments based on these factors.
Learn what works for your target audience instead of looking for general benchmarks
How do you know how things are going for you? What are the benchmarks? It is always better to test yourself to a baseline for your target group and business rather than trying to set branch benchmarks. No matter what the result of your most recent campaign, you will always be able to get better if you systematically perform experiments and test yourself.
With these 5 tips, you will be able to develop your internal team or challenge your agency to create a growth engine of your advertising. Constantly testing yourself means that you will constantly learn more about your target groups and thus accelerate your ROI from digital advertising.