Digital advertising is on its way to becoming a trillion-dollar story. Year after year brands are increasing their budgets they’re spending on the digital ad space, looking to increase their interactions with their prospects and eventually their conversions in any form and of course, their e-commerce sales.
Biggest chunks of these budgets are spent to performance marketing media platforms like Google Ads, Facebook Ads, Criteo etc. Achieving desired results over these operations is a multi-dimensional and a very challenging effort, bringing many obstacles to the brands along the way, especially on finding the right people with in depth experience and know how, regardless of covering these effors in-house or on the agency side.
Process often starts with determining the right KPI’s and targeting the most relevant audiences available amongst the advertising platforms. Whether the eventual target is including generating leads or sales conversions, delivering great results over digital advertising is basically about creating effective equations which are built to combine, creatives, audiences, advertising bids, contextually targeted ad spaces offering various sizes and formats, in a best possible way.
From start-ups to the biggest corporations, the performance is being tracked with the sales funnels. These funnels’ layers represent the sales cycle of the company with the corresponding steps of the major sales stages a customer goes through when searching, buying, and owning any kind of product online.
Challenges often start with the upper funnel problems. Process of finding the right audiences at the right channels at the right time and offering each of these combinations an optimized and personalized offer that work well for them, requires building a learning curve. Building this learning curve may take significant amount of time for any given organization.
Conversion Rate Optimization processes take place for each level of the funnel, naturally starting with the upper side of it. Thousands, sometimes millions of impression views, clicks, visits occur towards the digital channels of the brand and unfortunately most of them do not contribute achieving good results, due to the various reasons including low relevancy on the targeted users, poor creatives, insufficient targeting abilities and the variety in the visitor intentions. Data Management Platforms (DMPs) play a critical role on engaging with the desired audiences as they have unique abilities to flag users, build audience with them and more importantly re-access to them over different media channels regardless of the source of the media that the particular user came in the first place.
Advertising space is one of the key touch points for a brand while creating interactions with their prospects. It is part of the Customer Experience nowadays and this experience has to be improved just like the ones on the other touchpoints brands offer and try to optimize, such as their web sites, call centres and social media accounts.
Title of this article speaks for itself. Time is one of the most important assets to preserve, to use efficiently for any sort of operations. This is also the case for optimizing digital advertising operations, as well as the conversions. It doe not matter whether you’re in the early stages of building your digital advertising learning curve or a mature organization who have spent several years maybe decades on the subject. Results for your efforts are expected to come timely and instantly.
In Labrys, our services team continuously work on connecting the dots between 92 different metrics, creating meaning out of them, while optimizing the digital advertising performances of our clients. Just like flying an airplane with tens of dashboards on the cockpit console, this is no easy job, no possibilities of handing the responsibility over to an AI mechanism and still requiring top level talent and human resources available on board.
At end of the day, we have an excellent indicator named ROAS (Return on Advertising Spend) directly providing us an idea about our current ROI, how well our ability is for reducing the media costs while increasing the conversions. Out of ten, how would you rate your digital advertising performance and efficiency? Reach us by filling the form here and let us discus and measure together!