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Rethinking Your Ad Spend: 5 Tips for intelligent digital advertising
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Transcript of Rethinking Your Ad Spend: 5 Tips for intelligent digital advertising
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Presented by
Rethinking Your Ad Spend: 5 tips for intelligent digital advertising
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VerdensaCraig Vigor
Business Value ConsultantDigital Mouth Advertising
Robert Pettee
Co-Founder
Today’s Speakers
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Digital Mouth Advertising (15 min)
Verdensa (15 min)
Q&A (10 minutes)
Today’s Agenda
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• The recording will be sent to all webinar participants after the event.• Questions? Type them in the chat box & we will answer at the end• Posting to social? Use #ChartioMarketingROI
What’s next?
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The days of posting a sign and waiting for customers to knock on your door are all but over. Today’s marketing success is built on insightful, actionable data – even for offline channels
like direct mail, print and radio.
Marketing Data: What’s Possible, and Why it Matters
Successful marketers are leveraging their ad spend to learn how & where to spend
their next dollar.
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Clean Data: Getting-Out What You Put-InWell targeted ads can easily track:
•Demographics: age, gender, marital status, etc
•Psychographics: interests, political views, social preferences
•User-Behaviors: shopping habits, subscriptions, recreational habits
•Geography: IP address, zip codes, city/state or “local area” using radii around a business
location
•Messaging: promotions, discounts, sales, and the imagery & verbiage that drive resultsThe Trick: Label your ads according to who they target, put tracking info into the ‘destination URL’ of every ad and make sure you’ve got a web analytics platform that can capture that info, along with valuable website activities.
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Getting Results: Define & Prioritize Your GoalsTypical Goals:
•Reach & Awareness – focus on unique reach & frequency
•Drive Interaction – focus on interactions and CTR
•Maximize Site Traffic - focus on CPC
•Maximize Conversions or Sales – focus on CPA and Conversion Rate
•Maximize ROI – focus on CPA, Revenue per Click, and Revenue per Conversion
Consideration can be given to multiple goals, but one must take priority. Whatever your primary goal, make sure you have a way to monitor the appropriate metrics and map any “success event” back to the specific ad that drove that event.
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Doing more of what works best, and less of what doesn’t is very intuitive in theory. In practice, it means
complexity, attention to detail and a keen eye on statistical significance. It’s not easy, but it’s always worth
doing.
Follow the Data, It Doesn’t Lie.
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With the sophisticated campaigns you can run, all the data that you can collect from digital marketing efforts on Google, Facebook, etc. it’s easy to get buried and lose sight of the business value and data driven decision making abilities.
Dashboards for Actionable Business Value
Digital Marketing Scenario:
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Business Value Design Best Practices• Back to basics: Analytics deliver value by enabling
better decisions• Tie metrics to the business reasons, business
problems that need solving
o Tie to the business strategy with a visual contexto Analysis path to what people in a role need to make a
business decision
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Digital Marketing Dashboards Best PracticesCompared to more traditional ‘Business System’ based BI:
•Challenge is LESS of going to various business systems to acquire and integrate data•Challenge is MORE of filtering out all the data that is not relevant to your specific business focus
Best Practice: Minimize the noise, focus on presenting the metrics with their context related to your defined business problem. Swimming through all the data is a Data Scientist exercise!
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Digital Mouth Dashboards
Business Decision Starting Points: (root of path through the data to get to decision points) What's happening right now, is it on track? (mechanically
getting the impressions in the right place at the right cost) Analyzing inside the campaign to answer:
'What did I say‘ 'Where did I say it‘ 'Who did I say it to'
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Digital Mouth Analysis Path: Flight Board
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Analysis Path: Flight Summary
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Analysis Path: Flight Route
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Empowering anyone in a business to explore, transform and visualize their data –
without any technical barriers
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Q&A#ChartioMarketingROI
VerdensaCraig Vigor
Business Value Consultant
Digital Mouth AdvertisingRobert Pettee
Co-Founder