Measuring advertising ROI can provide you with a great deal of insight into what your ads can accomplish and how they work for your business.
Many advertisers are concerned about the ROI of their marketing efforts. However, if you have a strategy that works, you can have better results than you might have thought.
What Makes an Ad Effective?
Several key factors can help make an ad more effective, boosting your ROI. These advertising best practices can help set you up for success and give you better insight into how to measure advertising effectiveness. The best advertisements will contain these key elements.
Effective Planning
As you consider how to measure the ROI of advertising, start with strategic planning. Know your audience, what platforms to use to reach them, and how your marketing efforts integrate in one holistic, comprehensive way. Make sure you understand the types of advertising and how they could impact your business.
High-Performing Creative
To experience the full benefits of advertising, produce highly creative material that will engage audiences while providing them with the information they need. Targeted display ads, social media marketing, and even email marketing should be perfected to reflect your brand. Ensure you consistently use the following tips as part of your advertising strategy.
- Be consistent. Consumers must know what to expect from your brand when interacting with you. If you're constantly changing things up, prospects may not know what to think of your brand.
- Focus on one message. You only have a short time to create an impression and convey messaging through an ad.
- Have a clear and straightforward call to action. Let prospects know what you want them to do so they can take those vital steps along the customer journey.
Be Credible, Strategic, and Competitive
Establishing credibility, strategic planning, and a competitive edge will help to get the ROI you want from advertising.
Your marketing reflects your business, and credibility is necessary for your reputation and growth. The best-performing ads will look professional and on-brand with your company. Ensure consistent, polished, and clear ads for the campaign's success.
Strategy is another essential asset to have and one that can make or break success. Ads must align with your business goals and the specific objectives of each campaign. For example, if your primary goal is lead generation, does your marketing nail it? Review your numbers to see if the campaign boosted leads. Ads can always be A/B tested or pivoted to be more effective, so keep an eye on them!
Stay competitive and ahead of others in your industry. Do your ads stand out from your competition? Are there gaps in their marketing that you can use to your advantage? Aside from that, be sure your ads fulfill the audience’s need to know your brand, what you provide, and how you will help them. Communicate your brand’s positioning, inform audiences, and create compelling calls to action. Continuously prove your brand with advertising and target the audience that needs you.
Effective Measurements of Success
In your advertising campaigns, know how to measure your overall success. Include these critical KPIs as part of your measurements.
- Reach: How many people are seeing your ads? What demographic do they belong to?
- Brand Awareness: Are people within your target audience aware of your brand? How much do your ads increase brand awareness? You may need to compare brand awareness before and after your ad to determine its effectiveness.
- Website Traffic: How much traffic to your website is generated by your ads? You may want to measure traffic before and after a new campaign or measure traffic to a specific landing page created for your ads.
- Total Sales: How much have your sales increased due to your campaign? What sales resulted directly from that campaign?
- ROAS: What is the overall return on your ad spend? How much are you making in return for your advertising investment?
Better Advertising ROI with Mid-West Family
An advertising campaign can significantly increase your brand's overall success and awareness of everything you have to offer. Working with an advertising partner with the experience needed to run a campaign that will generate a high return on your investment is critical. Look for a partner with a proven success history and the support you can count on.
