Platforms and channels for reaching consumers are constantly evolving in the digital space. This continuously changing environment makes it difficult to make sense of digital advertising results. So how can we measure a digital campaign’s effectiveness?
While there are multiple ways to define success, two common themes will likely be discussed when determining acceptable results: Ad Engagement + Conversions.
Ad Engagement occurs when a consumer interacts with an advertisement, email, video, or blog. This consumer activity provides us with numbers and insights as to how the campaign was perceived. Categories like impressions, clicks (total and unique), CTR, page views, and open rate will be relevant depending on the tactic. The different levels of engagement shine light on audience reach, product interest and the quality of the creative.
Conversions, on the other hand, are a step beyond engagement. A conversion yields detailed contact information from interested parties or can tie a monetary value to the data. Comparing financial investments to financial benefits will provide you with the return on investment. Generating leads can also turn into sales and be a good indicator of the effectiveness of a campaign. Harvesting leads and converting those consumers into buyers is a sign that your digital advertising is both compelling and effective, and you’ll have numbers to back it up.
Digital media offers a simple first step in the buying process. Within a few clicks a consumer can learn all they need about a product and even find a purchase point. There are trackable and telling details at each stage during that consumer journey, and defining your objectives will be key in determining the effectiveness of the marketing campaign.