In 2014, Google released a report that revealed 56.1% of ads on their platform are not seen by the people they are supposed to reach.
In other words, over half of ad spend was being wasted.
The goal of advertising is to connect your marketing message with the customers your product or service is intended for. Luckily, digital marketing makes it easier for advertisers to see who is seeing our ads, as well as how much it’s costing per person.
However, it is evident that most advertisers (over 50%) are still failing to deliver their message to the right prospects.
In this day and age, online competition makes it is necessary to know exactly where your ad spend is going.
Otherwise, you run the risk of being ‘beaten out’ by competition and failing to run profitable marketing campaigns.
Know Where Your Ad Spend Is Going
The 21st Century has made advertising (and knowing where your money is going) a lot easier.
Digital marketing, despite requiring the same advertising principles that have been used for centuries, is a completely new ball game.
Marketing is now a science – data analysis, tracking, measuring, and technology are essential if businesses hope to succeed against their competition. It’s a level playing field, with smaller businesses now able to make a name for themselves with cost-effective online advertising.
The only way to compete with other businesses online is to make full use of the data available to us.
To this day, many online advertisers still neglect sufficient tracking of their digital marketing efforts. Making guesses and decisions based on correlation or emotion (and not cold hard facts) is simply not feasible anymore.
Now, advertisers can connect with only their most perfect customers, not wasting ad spend on web users that won’t convert to customers. We can show our advertising to only the prospects most likely to generate the most revenue. We can personalize advertising to our perfect customers, and we can even do it at scale.
This is all possible thanks to digital marketing.
Use Reporting Dashboard for Digital Marketing in Adelaide
The first (and most important) step to successful online advertising is tracking and reporting.
This allows advertisers to know exactly where each dollar of their ad spend is going so that none of it is wasted and maximum ROI is produced.
Marketing Catalyst, a digital marketing agency in Adelaide, has created a brand new ‘Bespoke Dashboard for Traffic & Leads’.
This dashboard makes tracking, reporting, and recording data easier than ever. It eliminates almost all of the effort required to gather important data and presents it in a comprehensive way, offering valuable insights as well.
Learn more about Marketing Catalyst and the dashboard here. Also read more about social media marketing here.