Simple Ways to Track Advertising Effectiveness

Simple Ways to Track Advertising Effectiveness

All the hard work you have done on your marketing and advertising plans and strategies do little good if you cannot stick the plan into practice in a way which is measurable. Otherwise, every bit of your investment may be a waste once you can no longer prove to others what you are selling is effective.

Measuring your campaign is not as difficult as the people who sell you advertising will want you to believe. That is why there are so many so called ad agencies who work solely making money out of your hard work so you will hire them to succeed in versa – eventually.

The easiest and most efficient way to define and quantify the direct result of your campaign is to use A/B testing.

A/B testing is the process of directly changing elements in your marketing plan or campaign to see if those elements make any difference to the response rate/results of your direct sales to your market.

You will need to start with something to work with and be able to make a clear distinction between best case and worst case scenarios.

Let me give you an example.

Let’s say that I took a hypothetical check for $10.00 and I wanted to double the response rate from that check to a check for $150.00.

Let’s study the ways that could affect an A/B test.

All things being equal – let’s say that I bring in a check that cost $10.00.

Here are some ways that could affect the response rate:

If the check costs $50.00 and double response rate – the response rate will double from 50% to 65%

If the check costs $10.00 and I bring in a check for $150.00 – the response rate will double from 50% to 50%

This may seem a little simple – but it’s not.

One thing to note is that the above examples will make a $10 check the best possible check. So just a few people would not really want to buy from me (regardless of the price point) even with a better offer.

Ok, so we know what works and what does not – how do we apply that to our campaign.

Let’s use the same example as above.

In the IOM (ustainable advertising means you promote the ad three times within six months. You are totally justified in my opinion that an increase in response is a result of SOME effort – it pays for theinitely the Infomercial, you create in three months and you know once you do that not only will you make money but you have a better chance of being hired by the radio station.

So in terms of your campaign you should focus on the things need to succeed – (sales, contacts, theatrics, traffic), fans, product, direct sales agent, etc…

And finally the key.

1. The results – the overall cost and investment will be what you should measure.
2. Residential radio is less expensive than local corporate quarters suggesting you test other campaign formats against them.

So just the fact that you are running three ads per day is fine – you decide to spread out – this is important.

In your campaign and in your mind one of them may work and you have to take that into consideration.

3. Follow the statistics – expect what you want to see – just because one campaign is probably doing well does not mean you and your campaign will be right for that market – you have to test properly.

On your next Investmentluence Phase – you will be introduced to step by step A/B testing techniques.

Let’s say you spent $20.00 last month and you expect a return for that, while if you spent $20.00 and the radio station booked you for $50.00 bringing in a result of $10.00 – every time you want to meet that particular goal – you may have to reevaluate everything else.

If the other campaign does of $25.00 get 50% of the traffic and the other 50% ends up bringing in $50.00 – this does not make the other campaign a poor performer (pushing its own product), however your ideal standard should be close to $50.00 – that should upgrade your media spending to the next level.

If you only get a 30% response from an ad why should you spend on a 50% impression.

So the thing about a/b testing is that the more you do it – the less content you need to try before you determine an ad.

Let’s assume that you run a one-to-one campaign, knocking on 50 homes in a week, running the same ad two times and getting 3 calls.

You run that ad four more times and you run it three more times.

Now say that you only get 1 new customer from that ad and 6 from the other two ads.