There may not be such a thing as an overnight success in business. But it is possible to be an overnight digital advertising success.
In the digital era, a single advertising campaign can transform your business, connecting perfectly to your target customer and even going viral.
If that sounds like something that could help your business, read on. We’ll explain why data and analytics are your magic ingredient in making this happen.
Using Data to Learn About Your Audience
Data from your analytics will give you a fantastic insight into your audience. You can learn about their behavior. For example, you can discover their typical browsing patterns before they buy from you.
That knowledge can help shape your future sales funnel as part of your ad strategy. For example, you can learn how to tweak your website to optimize it for ad traffic.
You can also discover valuable intelligence, like the peak buying times for your customers and the content that gets the best conversion rates. All of it will help shape your ad strategy.
Using Data for Ad Targeting
The best advertising platforms allow you to target your ads. And there are many ways to do this. You can target by geography or demographic. You can target by behavior (such as similar websites visited by someone).
You can target by interests (such as that audience’s favorite social media accounts). But you can only effectively target an audience if you have that intelligence.
That’s where data and analytics come in handy.
It will give you all the information you need when setting up an ad, whether age, gender, interests, past interaction with your website, or other similar information.
Measuring Your Ad Performance
Once you publish your ad, you’ll need data and analytics to track the performance. It stops you from spending money on ads that don’t yield expected returns.
It also means you can increase your spending if an ad outperforms your expectations. You can make the most of your analytics data by using techniques like A/B split tests to help improve your conversion rates.
That technique allows you to split ad traffic between two ads to see which performs the best.
Improving Your Ad Spend
You can use your analytics tools to improve your ad spending. To do that, you’ll want to look at past data to help make some predictions.
For example, analytics can tell you more about the best ad formats for your brand. By honing in on those formats, you can lower critical metrics like cost per click.
You can also improve ad spending in many other ways, like changing platforms when running social media advertising. Or you could change content or targeting.
The more time you or your digital marketing agency spend analyzing your data, the more opportunities you will find to lower your ad spend or increase your ROI.
The Power of Data Analytics in Digital Advertising
Digital advertising can be transformational for your business. But without the right strategy, it can get expensive – fast. The trick to turning your ads into a business success story is using data and analytics to your advantage.
Find out how our expert team at Bloom Marketing can help transform your next ad campaign. Head here to contact us and discover why our digital media agency does things differently.