As the world of digital is the new hand of global scope, we should understand the main aspect involved in driving sales and setting marketing campaigns apart.
Welcome to the world of digital marketing optimizations.
To begin with, what are optimizations? And why are they necessary?
Optimization is the key to understanding your audience’s likes/interests and tastes. Based on optimizations, companies can produce content/campaigns that work well for their audiences based on previous campaigns that have been successful. They can also maintain customer loyalty and customer acquisition. It is all about getting to know your customer.
Hence, optimizations also include increasing/decreasing ad spends and pause/unpause campaigns based on the campaign performance. This can be understood based on the CPA, CPC, CPI & CTR of an ongoing campaign.
CPA: Cost-per-acquisition is a marketing metric that measures the aggregate cost to acquire one paying customer on a campaign or channel level. CPA is a vital measurement of marketing success.
CPC: Cost-per-click is the amount of money you pay for each click on your ad. For CPC bidding campaigns, you set a maximum cost-per-click bid which is the highest amount that you’re willing to pay for a click on your ad.
CPI: Cost-per-impression is the measure of the cost that one will pay when their ad is shown per one thousand impressions. CPI helps to determine other calculations for ads such as CPC and the CTR (click-through rate).
CTR – A ratio showing how often people who see your ad or free product listing end up clicking it. Click-through rate can be used to gauge how well your keywords, ads, and free listings are performing.
Essentially, marketing optimization is a process of:
- Collecting data
- Analyze data for insights
- Take action within your marketing campaigns
- Repeat daily, weekly, monthly.
Optimization is a necessary aspect that helps marketers save ad spends but also gather data to analyze and understand the next step towards their future campaigns. It is a consistent process and helps develop a relationship towards understanding their target audiences more profoundly.
The question is: How many times do campaign optimizations need to be done? Well, it depends on each brand. Smaller brands can optimize their campaigns once a day, whereas larger brands may prefer to optimize thrice a day. It is only a 10-15 minutes process but needs judgment, experience, and understanding of campaign performances.
Optimization is the key aspect in saving ad spends, adjusting bid strategies, and understanding performance marketing.
In short, optimize it to make it more appealing to the eyes of your audiences. So if you’re a marketer, the above aspects can help you optimize your digital marketing strategy and campaigns and improve the quality of your digital marketing output.
So what are you waiting for? Hurry, begin your optimizations at the earliest!