Regardless of your budget, or whether you manage advertising internally or work with consultants, this session will help you hone your paid media skills. Panelists will discuss what metrics matter, how to move beyond social channels, what to expect when working with vendors/consultants, and how to address inconsistent roadblocks on advocacy advertising from publishers and channels.
Travis Gianchetta, Beekeeper Group
Notes
HISTORY
- First display ad: 1994
- Doubleclick tracking: 1996
- Pop-up ads: 1997
- Paid search and PPC: 1999
- Adwords released: 2000
- Facebook ads: 2006
- Real-time bidding: 2007
- YouTube pre-roll: 2009
- Native ads: 2010
- CTV: 2018
EVERYTHING IS CHANGING
- Political ad restrictions
- Twitter is nearly unusable
- Facebook limits
- Contextual targeting segments
- Fewer social targeting options
- Death of cookie targeting
LESS EXACT, MORE TESTING
- Finding your audience is harder
- Costs/results will vary
- First-party data is king
NOT INSTANTANEOUS
- Approvals take more time
- Appeals have no timeframe
- Previous experience irrelevant
- Rejections are arbitrary
STRATEGY IS STILL THE SAME
- Sales funnel – Awareness to Engagement to Conversion
- As you move down the funnel, it gets harder and more expensive to do so
- Nowadays, a lot of advertising is still geared toward engagement
- Advocacy people are more used to getting conversions easily or quickly. Tougher to get conversions, advocacy, loyalty
- Conversion rate is still the key KPI
- Less targeting options make it harder to drive conversions and track who is converting
- Dropoff at each stage: 1000 people enter the site, 350 go to product pages, 150 add the item to the cart, 50 reach checkout, 25 purchase item
KNOW YOUR GOALS
Often falls into 2 buckets:
- Awareness/Impressions
- Engagement/Conversions
Location, location, location
Cost per campaign funnel: CPM, CPC, CPA
- Ad plans can be confusing to write but it helps to know your goal from the get-go
- Testing creative beforehand doesn’t happen often – platforms reveal trends in performance pretty early on, and we watch and optimize like a hawk
NFIB: Radio ads are effective – know where your audience is
- Hearing and seeing the ad helps (video and radio)
MOVING BEYOND SOCIAL ADVERTISING
- CTV, radio, display, search, newsletters, etc
- Test and learn! Pilot lots of options
- Where are you buying in the funnel? Lots of options
- Evaluate against your key metrics/goals
- Optimize to value
WORKING WITH VENDORS
- Know your costs
- Creative fees
- Management fees
- Agency fees/markups
- Know who is buying:
- In-house direct/DSP
- Agency partnerships
- Multiple specialty ad vendors
- Know WHAT you’re buying
- Impressions
- Clicks
- Conversions
- Etc
- Know the optimization plan:
- How frequent is the review?
- What is the metric? CPM, CPC, CPV, CPCV, CPA
- How do we measure value?
- Know WHEN to reach out to an agency – the earlier you can plan, the better