In a data-driven culture like the one we live in today, it’s essential for all companies to capture as much data as possible. This includes both quantitative and qualitative data, particularly when it comes down to mobile display campaigns.
By understanding the most common metrics for audience targeting, your team will be able to react more efficiently and effectively.
Importance of Analytics in Your Campaigns
They Enhance Strengths and Diminish Weaknesses
A vital part of any business is to be able to oversee the strong suits and the weak spots. Data doesn’t lie. By reviewing your marketing insights and analytics you can make informed decisions in real time. Don’t waste precious ad dollars on poor performing mobile display campaigns. Instead take the data you have to craft it into a positive ROI attribute that the bosses will be proud of.
Accurately interpreted data allows you to foresee possible opportunities and threats that may have been overlooked. It also provides competitive insights into what the competition is up to.
Mobile Display Campaigns Provide a Glimpse Into the Future
Data and analytics in general are not only useful for understanding past preferences and present trends, but they are also good for predicting future behavior based on statistical predictive models. Here at RMG Advertising we are positioned to integrate predictive behaviour modelinto our clients campaigns into because we have witnessed the successes achieved.
These allow you to better understand what your clients want from you and the products your retail business sells. As you would expect, mobile marketing campaigns are a reflection of this. So, being able to see into the future can help you mold the ads into what your clients want to see on their mobile devices.
Decision-Making Gets Easier
When a business owner lacks an in-depth knowledge of their sales numbers or other metrics that could eventually foster them, any form of decision-making is clouded by uncertainty.
On the contrary, if you are a retailer that knows exactly how much revenue your business takes in and what are the exact areas that demand improvement, you manage to cut down on a lot of guesswork.
Common Analytics Metrics for Mobile Display Campaigns
Among an ocean of metrics that can easily steer you clear from any form of understanding, it is important to have proper knowledge of the most important ones and how to employ them adequately:
- Cost Per Lead: This metric tells you how much it costs your business to acquire a new lead. The lower this cost is, the better ROI you can expect to get from your mobile ads
- MQL-to-Conversion Rate: This analyzes the relationship between marketing-generated ad leads to those that convert into actual sales. This also showcases the connection—or lack thereof—of sales and marketing departments
- Customer Lifecycle Average Length: The Customer Lifecycle ponders how much time it takes the prospective client to make the purchase from the first time they see the ad. Generally speaking, the shorter, the better
Use of Analytics
Mobile display ads open up a whole new spectrum of possibilities. With data-powered cognizance, you can enhance your decision-making processes and get the most leverage and ROI out of your mobile ad campaigns.
RMG Advertising provides business solutions that enable you to capitalize on the opportunities that the mobile display advertising realm extends. Contact Us to learn more.