Without measurement, there is no way to understand your advertising campaign results. And without that knowledge, it is impossible to improve your campaign. We may all be able to agree that analysis is necessary, but what to focus on can be confusing.
Let's look at a simple example: a direct response TV and/or radio buy to sell product X. The spots are individually tagged with unique phone numbers for tracking, you get a report from your call tracking company with calls, and the call center provides a report with sales (orders).
Most advertisers are understandably focused on the bottom line, so dividing the total budget spent by the number of sales to get a cost per order (CPO) seems like the most relevant metric. However, several things could be happening between the call and the order, and turning a blind eye to that data can be very costly.
Station A could generate double the calls as station B, but those calls came in when the call center was busy, causing the conversion level to drop due to long hold times and poor customer service. Station B calls happened to come in at a slow time and those callers had a completely different experience resulting in more purchases. Is it fair to cut station A from your media buy? Probably not.
Likewise, a focus on call volume tracked as a cost per call or lead (CPL) could attribute strength to a station producing low quality calls that have a less chance of converting no matter the consumer experience. This will certainly hurt your bottom line.
A comprehensive campaign requires comprehensive analysis, but the task of looking at every metric can be daunting. Clicks, views, interested inquiries, upsells – spending too much time on metrics that can’t help optimize your campaign or your ROI is probably not worth it. Need help with your tracking and analysis? Zenith Media Tracking has the right tools for knowledge and efficiency. Contact us for a campaign consultation.