digital marketing

    20-50-30

    Controlled approach the next big thing in campaign planning and optimization

    649 288 Apurv Lungade

    31st July, 05:30pm – “An amount of Rs. xxxxxx has been credited to your salary account…”  the most awaited SMS of the month! But what happens next? A lot of us face a similar challenge of maintaining a balance between our earnings and spends/expenses. The major hurdle is lack of planning. This scenario can be also observed in the case of digital advertising spends.

    55/5 rule of problem-solving suggests that often it is preferable to spend more time on identifying and properly framing the problem before trying to solve it. The proportion 55/5 comes from a quote attributed to Albert Einstein who supposedly said that if he had only one hour to save the world he would spend 55 minutes identifying and formulating the problem and only 5 minutes solving it. If we try to relate this to digital marketing industry, a media planner should spend more time in planning the campaign objectives rather than taking it LIVE in a hurry.

    At the time of campaign planning and optimization, media planner should try and make different categories of campaigns based on goals that he receives from the client.
    For example: Daily delivery goals: 10k to 1L impression, 1L to 5L impressions, 500 to 2000 clicks, 2000 to 5000 clicks; CTR goals: 0 to 0.1, 0.1 to 0.5. 0.5 to 1.0, 1 to 3 etc.
    Once you have these categories in place, try to fit the campaign in respective category.

    In digital advertising industry, media planners should try to follow 20-50-30 rule for efficient delivery of campaigns.
    What does it mean? It means the total spend should be divided into 3 phases – 20%, 50% and 30%.20-50-30First phase – Experiment
    The first phase “Experiment” is the most important aspect. The first 20% of the budget should be spent by tweaking the campaign attributes in such a way that it would meet the campaign goals. For example, if campaign goals are – daily delivery of 5L impressions and CTR min 0.5% then it is clear that the campaign need to be focused on large delivery and less on its performance. In order to achieve the goals by keeping maximum possible gross margin, one of the experiments I would perform on this campaign would be – target it on inexpensive site at high frequency.
    In addition to that, in this phase – try to target the campaigns on all verticals (sites and segments/audiences) which seem relevant to the campaign.

    Second phase – Blast
    Analyse results which you got in first phase and choose best combination of campaign attributes which are likely to give best results in terms of RIO and campaign goals. Take this combination and extrapolate it making a blast. 50% of the budget should be spent in this phase. Monitor the performance of the campaign and make sure it is giving expected ROI.
    How to calculate ROI? – in general terms, ROI = Revenue/expense but in digital advertising industry campaign performance is equally important. So here the ROI concept is – what is output of campaign performance (CTR/CR) when input is campaign different attributes. Example: There are two sites – S1 which is premium site and S2 is a normal site; when a campaign is targeted on these sites separately, and you notice that there is a minimal difference in CTR on these sites then ROI of serving campaign on S2 is more than serving it on S1.

    Third phase – Retarget
    Before moving to this phase, planner should plan in such a way that all the remaining backend goals are met in this stage. In order to make this happen, historical data acts as a treasure here. Say for example, you did and auto company campaign few months ago and you again receive a similar campaign but from a different client. Still the historical data of the previous campaign can be utilized as a learning material. This will help you in choosing the best remark audiences and also the ones that never performed earlier.
    Slice and dice the historical data and make inferences out of it which will be used for optimizing the current campaigns site wise – category wise – impressions, clicks, CTR
    Segment wise – counts

    Conclusion:
    Don’t spend the entire budget at once instead play safe by breaking your budget in these 3 phases and treat all the phase as a new campaign setting. Try not to mix earlier settings. Utilize the learnings from historical data wisely and effectively.

    SECRET INGREDIENT FOR DIGITAL MARKETING STRATEGY, REALISM OR OPTIMISM

    Secret ingredient for digital marketing strategy, Realism or Optimism

    599 400 Shweta Gupta

    Is your digital marketing strategy on the right track?

    Have you reviewed your digital marketing strategy lately? Have a check whether it is based on realism or optimism.

    Realism is what makes humans act sensibly and cultivate practical and real life ideas of what can be achieved. In brief, represent things as they really are!

    Optimism is what makes humans look on the most favorable side of events. In brief, makes you feel awesome, happier, having fulfilled lives! Who doesn’t want this? Everyone wants to lead an awesome life.

    Unfortunately, with regards to the success of a digital marketing strategy, a lot of digital marketers tend to project goals on the basis of sheer optimism. Digital Marketers should embrace Realism instead of Optimism. Let’s understand why realism is the secret ingredient for a digital marketing strategy.

    There is no harm in being optimistic about performances and delivery, as this gives us the zeal to achieve goals, but on the contrary, being optimistic makes you emotionally blind, rather than allowing you to play well with your mind. Marketing strategies based on optimism might lead to under delivery and eventually unhappy clients as one might prematurely simplify digital marketing plans, efforts and outcomes and deviate from real facts and figures. In the process, a lot of important warnings might get neglected which can be dangerous in the long run. Forecasts and deliverables should invariably be based on realistic figures.

    Let’s take an example:

    You just bagged a branding campaign, with objectives to increase the brand awareness by 50% and traffic on their website by 70%. The timeframe to deliver the campaign is 3 months. Your visual designing team has created some very attractive display banners with compelling messages, which you think people will go nuts over. I mean, how could users not recall and click on your digital ads? (Yeah, here you go! Overly optimistic)

    Based on your optimism, you communicate the deliverables to the client. The campaign is set and the ball is rolling, but soon you discover that only half of the targeted numbers for the month show up in the reports. Your forecast and the reports are misleading. So, what went wrong? Let’s figure out.

    • Relevant audience actual count was not considered when numbers were derived.
    • Assured of attractive creative (display banner) deliverability.
    • Small advertising budget was not feasible enough to deliver the campaign.

    Checkpoints:

    • Be realistic and close to actual numbers when forecasting campaign goals.
    • Take insights from previous campaigns and customer experiences.
    • Always consider A/B testing before being over confident about one particular digital marketing strategy.

    How to be realistic:

    Over-commitment and an unrealistic figure can lead to client dissatisfaction. You need to be very careful when drafting your campaign goals. But, how do we attain the realistic goal? Here we go, (In reference to above example)

    a. List down the focused channels to run the campaign. Considering display marketing, let’s decide on the high impact innovative ad formats that should be appropriate for your branding campaign. Brand Recall as high as 50% by using high impact ad units. Say for example you can choose from these options;
    i. In-image
    ii. In-screen
    iii. GDN Ad Formats – Google Display Network

    b. Find out the precise count of relevant audiences that you have from your audience repository; this defines part of your reach. And rest can be pulled from GDN noting the advertising budget.

    c. State CTR based on past trends for each Ad Format. Now, you have the reach and CTRs in place. Hence, we know the traffic that we can deliver. That was easy! Isn’t it?

    d. Next step is measuring brand awareness, which is more of a qualitative parameter than quantitative. The best way to determine brand awareness is by asking the viewers/ clickers if they remember seeing the specific brand’s ad. If numbers in the first month don’t look that promising, the campaign settings can always be tweaked in terms of budget, ad channel and creative used, for the coming months. You shouldn’t be disheartened and pull the plug off soon.

    Grab your clients’ attention by promising delivery, backed by real numbers and not just your optimism. To execute a realistic and performance driven digital marketing campaign you need to find the right digital technology partner with the expertise to run digital campaigns via multiple delivery channels.

    Benefits:

    • Less chances of a catastrophe if you are close to reality.
    • High chances of achieving the final deliverables.
    • Happy clients, in return unshakeable client loyalty.

    Now you know how to keep your clients satisfied and loyal, by being realistic. We have won million hearts by using this secret recipe Secret ingredient for digital marketing strategy, Realism or Optimism

    To create some realistic digital marketing campaigns contact us.