Improving the effectiveness of advertising efforts is one of the main objectives of brands and agencies that implement digital strategies.
Buying behaviors, the adoption of digital and the great competition that exists today, makes us be much more strategic than operational and even more creative in the way we do digital advertising.
Recently an Analytic Partner post highlighted some points that are vital drivers in return on investment and that are supported by data analysis, which can be a guide to improve effectiveness in digital marketing.
Below I share what I consider to be the most important of this research, carried out in more than 45 countries and based on the results of thousands of advertising campaigns.
The first is how branding efforts have a 65% long-term impact versus the 21% that performance campaigns have. In other words, upper funnel campaigns not only help positioning, but also growth, both of the brand and of the business itself.
Seeing or measuring only the efforts that have an instantaneous impact, diminishes the importance of those communications that do change the behavior of users over time, as well as the metrics that serve to monitor these efforts, such as knowledge, consideration and equity.
Also noteworthy is the “halo impact” in digital advertising. This effect gives credit to the upper funnel campaigns, since these have influence on all the other offers of the brand that are not branding and has an indirect benefit in the communications of the brand that, according to Analytic Partner, is responsible for 50% of the advertising impact.
On the other hand, brands and their teams must look beyond their own strategies and place them in a much broader and more competitive context. In this regard, the study states that a brand could lose up to 15% of its sales if a competitor duplicated its investments and promotions.
While we cannot accurately assess competitor advertising, what we can do is be able to continually react or prepare to recognize the opportunities and changes we have to respond to as a brand.
In this sense, strategically planning the strong temporalities of the brand, allows to be prepared for the increase in natural demand that these important dates mean, such as Hot Sale, Good End, Back to school, among others.
It should be noted that the demand at these events increases by 50%, while the ROI increases by up to 27%.
Another important point of the research is how digital and physical availability can increase the profitability of the brand up to 32%.
This is possible because the media exerts an omnichannel impact on consumers, and gives the feeling of being able to buy a product wherever it is searched, after being exposed to the ads.
Hand in hand with the previous point, there is also the impact that paid search strategies have in e-commerce if our goal is to be successful online. Also, if combined with other efforts, such as social media and digital video, we can create a series of useful points of contact that drive the purchase.
Finally, it is a fact that those companies that adopt a more analytical and strategic approach, that only operational focused on short-term results, are more likely to stand out from their competition, be more prepared for changes to meet the demands of their consumers and even those who are not yet.