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2 Main Areas of Concern When Businesses Try To Run Ads

Iu2019ll address the two main areas of concern when businesses try to run ads for the first time: (1) Data Acquisition, and (2) Data Interpretation, and what can be done to address them to ultimately improve your bottom line.thttps://blacksheepdigital.ca/stop-randomly-testing-your-campaigns/

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2 Main Areas of Concern When Businesses Try To Run Ads

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  1. STOP RANDOMLY TESTING YOUR CAMPAIGNS! https://blacksheepdigital.ca/

  2. Marketing is a science as much as it is an art when done right. In the realm of digital marketing, your ability to acquire and interpret data will be one of the main reasons why your marketing campaigns either succeed or fail. It’s time to stop randomly testing your ads and praying to whatever deity you believe in to deliver results. Below, I’ll address the two main areas of concern when businesses try to run ads for the first time: (1) Data Acquisition, and (2) Data Interpretation, and what can be done to address them to ultimately improve your bottom line. I DON'T PARTICULARLY ENJOY GAMBLING ON MY OWN SUCCESS, DO YOU?

  3. 1. DATA ACQUISITION Do you suffer from a false sense of confidence when you run "tests"? Ok, so you’ve run a few split tests, now what? Split tests are usually great for speed, but if they’re not structured, it’s near impossible to acquire useful data to use for current/future campaigns. MARKETING PLAN 2020

  4. SO BEFORE YOU EVEN BEGIN TO RUN TESTS, ASK YOURSELF THESE QUESTIONS: A. HAVE I IDENTIFIED THE VARIABLES I WANT TO TEST FOR? Are you looking to see which audience performs better? Perhaps you’re looking for what images or videos work best, or what copy resonates with your target audience. There are many aspects of your ads you can try to optimize, so make sure you explicitly identify what you want to test and why. B. HAVE I ISOLATED MY VARIABLES FOR EACH BATCH OF ADS? Test one thing at a time within each batch of ads you run, whether that be copy, creative, or audience. If you confound your variables and change multiple things at a time, you’ll have no idea why something is working (or not working). You may think you’re saving time and money, but in the long run you’re wasting your ad spend on “tests” that won’t give you data that you can use beyond your current campaign! C. HAVE I SET KEY PERFORMANCE INDICATORS (KPI'S) TO MEASURE SUCCESS? Do you know what metrics to monitor to determine which tests can be considered successful, and which ads you should kill? Do you have any systems in place to allow you to collect and track the relevant data you need? Your KPI’s should be actionable, and not based on vanity metrics. For more information on why you should leave vanity metrics behind – check out our blog article here. D. HAVE MY ADS BEEN RUNNING LONG ENOUGH TO BE STATISTICALLY SOUND? So you’ve run your ads for a while, but have they received enough views/clickthroughs to be able to trust the results? Generally speaking, you’re looking for a few hundred to a few thousand interactions before you begin to make your decisions on which ads are working. Don’t jump ship too soon – chances are you’ll end up abandoning a winning ad by accident!

  5. 2. DATA INTERPRETATION Are you able to handle adversity? Perhaps you have a great plan in place and your ads are running, but what’s next? The reality is, 9/10 of your ads will fail. That’s simply part of the process, and you’ll need to budget in the time and money for it (generally speaking, 20% of your spend is a good range to start with). It may initially feel like a loss, but it’s an investment if done right because you should know exactly what’s not working each time and avoid making the same mistakes in the future.Stay humble, learn from what didn’t work, honestly assess your mistakes, and implement it into future campaigns. The hardest part will be weathering the storm, learning to handle disappointment, and being able to identify what you’ve learned each and every time. If you can do that, you’re golden!

  6. Conclusion It’s time to stop randomly testing your ads and praying that your ads will deliver results. Make sure you consider the following points beore you start running ads: 1. 2. 3. 4. 5. What variables are you looking to test? (creative, copy, audience, etc?) Have you isolated your variables in each batch of ads? Have you set KPI’s, and are you able to track and measure them? Have you run them long enough for the data to have statistical significance? Are you able to interpret the data to make the required changes? If you’ve considered and addressed all of the above, that’s great! You’re well on your way to succeeding with your digital campaigns.If you haven’t yet addressed the above questions, it’s not too late! Start now so that you can begin making data-driven decisions to further your business!Is all of this too overwhelming for you? Have any burning questions? If so, feel free to reach out to us and we’ll try to point you in the right direction!

  7. VISIT US HTTPS://BLACKSHEEPDIGITAL.CA/

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