Modern marketing is all about data. It’s what makes marketing in the digital era so effective. With so many metrics and variables at your disposal, it seems like it would be easy to make educated decisions based on measurable and transparent results. Right?
In reality, the vast amounts of information and variables marketers are supplied with often lead to data being misinterpreted or incorrectly attributed.
Here are a few things to look out for when running your next campaign.
Beware Of The Attribution Window
All digital marketing platforms have “attribution windows”. It’s a set time when results are attributed to your ads after a person interacts with them. This is important because most platforms have different default attribution windows that can lead to exaggerated and misaligned results. For example, Pinterest has a default 30-day-view and 30-day-clickthrough, whilst Meta uses a 1-day-view and 7-day-click through. Awareness of these windows and how they can impact your reporting is essential. If possible, change the attribution window for your ads, so data is consistent across all campaigns.
Comparing Apples To Oranges
When it comes to digital marketing, it’s essential to be as objective as possible. When comparing campaign results, be sure you’re accounting for variables like different objectives, seasonal changes and overall campaign setup. For example, it might be tempting to think a fashion brand’s campaign performed better due to the creative or objective, but maybe it’s simply a seasonal change. Remember that many variables could affect results, so be careful not to take data at face value!
Fallacy Of The Best Performer
Be careful when looking at your best-performing ad. Marketers will often examine the results of their creative to inform their next round of assets. However, picking just one metric like click-through rate to compare results can often be misleading. It’s common for large campaigns with multiple ads to have creative with a high CTR but a low conversion rate. Alternatively, an ad could’ve generated lots of purchases with high cost-per-purchase. Instead of focusing on one metric, use all the available data and weigh which creative hits the sweet spot.
Google Analytics Is Your Friend!
Google Analytics (GA) is a fantastic tool that can help you identify customer pathways after they click on your ad. You can use GA to identify repeat purchaser volumes, bounce rate and more. This is important as it allows you to check if your campaigns are getting the best bang for your buck. For example, marketers often target existing customers, viewing them as an easy way to boost purchases. However, checking the acquisition data in GA might reveal that those repeat customers primarily purchase through organic means. It’s also a great tool to cross-check the accuracy of your reporting after iOS14 has muddied Meta’s tracking.
Hopefully, these tips can help improve reporting accuracy for your next campaign. If you are looking to level up your marketing efforts, get in touch with Compass Studio today.