“What’s going on with the digital marketing for our brand?”
How often has this question of yours been responded to with something like
“The Google ads are bringing in a lot more clicks than before and we have also started with Facebook ads that look like they are working well. We are driving a lot of views and getting a ROAS of 2.”
And how many of those times have you wished to get a response which is more like
“The Google Ads ROAS has increased from 1.6 to 2.9X which can be attributed to the branded keywords being tested in the account. The CPC has also decreased for both branded and non-branded keywords by 23% and 31% respectively compared to last week.
The initial set of Facebook ads setup this week spent $500 wherein we are testing 2 sets of video ads in parallel to find out the more compatible content theme. The 2 themes being tested are Result & testimonial content. They are currently having CTR values of 5.2% & 5.9% respectively. The revenue generated is $1050 putting the ROAS to ~2X”
Relatable, right ?
That being said, how do you make sure you put your best foot forward to be prepared for the ever dynamic digital marketing ecosystem ?
Rely on something that is free of Bias - conscious or unconscious and that’s DATA.
Although very straightforward, it's very easy to overlook this aspect especially when you have external stakeholders like marketing agencies or freelancers involved.
Growth is a high velocity game and you need to stay up-to-date with the numerous factors that affect your businesses’ digital marketing efforts & consequent growth.
How do you look at data ? How do you know what’s important to look at and what’s not as well as WHY so?
Well, it starts with a good tracking and attribution setup, but assuming that part is already done, how do you ensure data-driven decision making all throughout ?
The answer is pretty simple, it's about changing your outlook wherein you understand the criticality of your marketing process being data-driven to give you the best bang for your buck in terms of ROI on the money spent on advertising.
Your hard earned dollars should not be at the mercy of an individual’s intuition and rather be driven by processes and metrics.
Here are important aspects to keep in mind:
Effective analysis of data that your ads produce shall be key to understanding what works & what doesn’t and consequently helping you effectively scale or scrap campaigns.
This would give your business the edge when it comes to scaling up.
Below is a snip from analysis of the campaign that we do for our clients, here at Tealbox digital, that shows you the kind of details these analyses can provide resulting in a much more accurate data-driven decision making.
As long as you’re always beating your old campaigns, scaling & stopping campaigns on time, you’re growing.
And ultimately, that’s the whole point of marketing analysis.
Not to pull reports or to produce shiny graphs, but to drive real growth for your business.
Are you a digital business looking to win the BFCM (Black Friday Cyber Monday) this Thanksgiving? Get in touch with us and we’ll send over a free guide on the best BFCM myth-busters!