Analysis is a crucial part of marketing optimization as well as testing is. Only by leveraging your potential in taking actions and measuring their impact you can optimize your marketing longterm.
But analyzing the impact is easy to say. Marketing does not have just one simple dimension. Even though you maybe only steer after one or two KPIs we highly recommend to dig deeper into your numbers to get a better understanding of how attribution and your actions will effect your marketing and users.
All of the usecases below can be done by using our customer journey export and your CRM data. Both data can be matched via different identifiers such as User-ID or Order ID.
1. Cohorts & User Analysis
We highly recommend to analyze the performance of your online marketing after:
New & Returning Visitor
Internal CLV Prediction
Target Customer acquisition
By analyzing your marketing after this criteria you will get a way better understanding of how your marketing actions really work and for what kind of users. In many cases, this will totally change the performance of an ad.
Example: After you changed the bids for an ad the CPA gets higher - but you acquire more users/customers who will fit way better to your taget customers because they are very young, likely to pay there bills and buying special goods you want to focus on.
You might would have considered this campaign as a 'lowperformer' if you wouldn't have digged deeper into the data analysis.
2. Product Ad fit
In many cases - besides your brand advertising- you want to advertise specific goods or campaigns with your ads. One of the most interesting question in that case is probably if your ad, which should sell shoes, indeed sells shoes or maybe T-shirts.
Or if your Sale campaign animates users to buy non-sale products.
In this case it makes all the sense in the world to analyze if this is the case.
This will give you a way better understanding of how your ads works on product level and what ad needs to be adapted accordingly.
3. Campaign Analysis
We now want to talk about analyzing the performance of ads within a campaign. And by campaign we now mean Marketing campaign such aas: Summer 2019, 'Spring-Fling' or 'Easter Holiday fun'. Basically broad topics which will be advertised across different channels, selling a specific range of goods.
Campaigns are often challenging because you have specific targets you need to hit in total, you have a specific set of ads to run, it's very seasonal and hard to predict and many channels advertise basically the same topic.
Hence it's very important for marketers to understand the holistic impact of their marketing ads on the whole campaign performance in terms of:
- Strategy fit - Is your ad doing exactly the thing what it should do?
Example: Let's assume you have an ad which should drive awareness to the campaign and should get a lot of attention (impressions / reach).
Hence you would expect this ad to be a touchpoint in many customer journeys and taking the role as an 'opener'.
The efficiency of the ad as 'opener' can be determined by the dynamic attribution. If your campaign awareness ad works well we would expect that the dynamic attribution attributes a lot of credit to this ad.
As you see - a strategy fit analysis is very important when it comes down to analyze your campaign ad performance.
Besides the strategy fit there are more analysis to run such as:
- Which ad / channel / source generates most of the sales within one campaign
- Do the ads sell the advertised goods
- How long does an ad need to run until it gets 'relevant'
All this analysis stated above will help marketers to better understand how to plan and shift their campaign budgets between their different ads when it comes down to hitting specific goals.