Advertisers are becoming more digitally savvy and putting more pressure on their agencies and marketing partners to deliver return on investment (ROI). Better late than never, right? So how can advertisers, both large and small, ensure they’re keeping up with the ever developing digital landscape and maximizing every penny they spend?
A Commercial Partnership Works Both Ways
A lot of the larger agencies see the pay per performance or incentive-compensation model as detrimental, not beneficial. Agencies are already on tight margins and cannot afford not to get paid if their performance doesn’t meet the clients requirements.
So why should the advertiser take all the financial risk? Ultimately advertisers want long term relationships with their agencies and marketing partners that are focussed on achieving outcomes and growth, not just rewarding them for inputs. They want a business partner, and having fair remuneration in part of that. Savvy marketers and advertisers are realizing the benefits of these models and they are subsequently gaining momentum.
Transparency is a Beautiful Thing
$6.3 billion will be spent this year on fake traffic. Fake traffic has become a commodity, there is malware for generating it and brokers who sell it.
Because of all this wastage, advertisers costs are being artificially inflated and ROI is being needlessly reduced. Ask your agency for impression level placement logs so you can see each impression and which placement on which site it appeared on. This way you can really drill down into the data and spot any anomalies.
A lot of publishers cannot detect non-human traffic so make sure your budgets are focussed on ones that can and ensure you constantly optimize and remove bad performing placements and sites.
Staying ahead of the digital marketing curve is essential to maintaining and growing your market share. This means constantly testing new marketing channels rather than relying on Google and programmatic display!
Always put aside a percentage of your marketing budget for “new tests.” This safety net will ensure you are not missing out on the highest ROI channels and will help maximize every penny you spend to stay ahead of the competition.
Which channels are really driving your ROI? In order to see the true value of all your marketing channels you need attribution modeling in place. This will answer questions like – Do Google clicks lead only directly to conversions, or can they be a cost-effective way to feed the top of the funnel? Do Facebook mobile ads work for direct response?
Generally speaking you do not need to spend a fortune on third party attribution tools like Adobe, Convertro and DC Storm… Google Analytics can do it all, and more, totally free!