Welcome back to the final part of our three part series on “what about digital?” where we discuss how digital advertising is shifting and the role in which it is playing in company’s overall operations and especially marketing & advertising plans. Read part 1 HERE and part 2 HERE.
This final part pertains to the analysis of digital.
Because you can actually see the performance and analytics of digital we tend to obsess over it.
After all…it’s what we have always yearned for. To understand if our advertising works or if we really are just “throwing paint on the wall.”
However we spend way too much time analyzing data points that don’t matter as much.
If you are going to look at digital data (and you definitely should!) we think you can also consider some or all of the following:
- Find ways to measure all of your other advertising mediums like radio, TV, and more. Email us and we can give you some ways in which we do this.
- Spend the same amount of time poring over digital data as you do on other mediums. If you spend 25% of your ad budget on digital it should only get 25% of the time in meetings being discussed. It often takes up 80-90%!
- Consider your overall revenue year to year and the profitability of your company as larger indicators than if a “lead converted to a sale.” At the end of the day if you mix all of the different ad mediums together and use them in a way that makes sense for your business they will work but they will crossover each other. You won’t be able to point everything back to once spot. Definitely track but once again understand the greater marketing messages that it is bringing home from a value standpoint for your business.
- If someone offers you impressions or a “CPM” based model to have you buy your digital and be measured based off of bulk impressions run as fast as you can :)!
- At the end of the day more sales, team culture, your relationships, and community impact are far more important to make sure you are doing them right as opposed to if you can improve your click thru ratio ever so slightly!
That’s it for our crash course/three part series on how to utilize and measure digital advertising! Do you have any questions? I’m here to answer them at Mike@HutchisonMedia.com.
We’ll even do a free audit of your existing advertising plan and give you our feedback. We actually work hand in hand with business owners and marketing directors, not in place of them.
Or, if you’re like so many people and just don’t fully understand the process we can explain it to you in a language you’ll understand.
Email Mike@HutchisonMedia.com or leave us a comment below.