Why is metrics analysis a must-have ?
It happens that when creating an advertisement, specialists spend a lot of time on preparation and setup. They define the target audience, think through hypotheses, write different versions of text ads, but do not pay enough attention to the results. It seems that if there are applications, then the advertisement works. But everything is not so simple.
Firstly, applications can come through other communication channels – through offline banners or word of mouth.
And secondly, any advertising can be made even more effective if it is analyzed correctly.
How to choose a method for evaluating advertising effectiveness ?
If you open any advertising account, you will see that there are many metrics. And often these are also those that are shown automatically, because you can customize the reporting for yourself. How do you understand which advertising performance metrics you need to look at when evaluating?
Based on the goals of your advertising:
Image (brand awareness): its task is to increase brand recognition and increase audience reach.
Performance: aimed directly at sales.
Read also: Advertising campaigns: goals and objectives
Image advertising
Such campaigns rarely directly affect sales, as they are aimed at increasing recognition and loyalty of the audience. Advertising does not have the goal of increasing sales or influencing financial buy lawyer contacts indicators, so it is quite difficult to measure. Usually, this can be done by the following criteria: brand recognition and citation level, growth of requests with the brand name and the number of new buyers.
These metrics are measured using focus groups, brand lift research, and analysis of branded search queries (for example, in Yandex WordStat).
Read also: How to use Yandex Wordstat
Product advertising
Aimed at promoting a product, meaning not specific sales, but increasing demand. The task of the ads is to move users from the middle of the funnel to the next step, so that the user wants to buy the product.
Evaluation of advertising effectiveness :
Demand level: this metric can be found in Yandex Wordstat . Assess at the beginning of the campaign the frequency of requests for the name of your brand/product and measure it throughout the promotion.
Reach: this indicator is available in any advertising account.