Before the boom of data, reading, understanding and presenting advertising performance metrics were tedious and time-consuming tasks. Now, digital analytics tools have changed the game, with analytics being the primary source of paid media performance reviews. As a marketer, you must reach your target audience as well as expand your customer base. Digital analytics can help all types of industries all over the world do exactly that. So what is digital analytics?
According to Receptional, digital analytics is the analysis of qualitative and quantitative data from your business and the competition to eventually drive current and future customers toward a desired outcome. Digital analytics is used to better understand your paid online media advertising placements’ overall performance, good or bad. This means that your digital ads can measure how many potential customers viewed information about your product or service, took interest in it and what they did with the information you provided them.
This is particularly important in maintaining and acquiring customers because it gives you insight into their purchase decisions, whether they placed an order, visited another page on your site, added an item to their cart, became interested in another one of your products or took another action. This can all be measured and tracked by digital analytics. The most important things about digital analytics is knowing what to measure and how to use that information to improve your market share. Fellow MCCer Molly Durrill explains even further in the top five things to know when digging into the data.
Understanding what your desired audience is looking for will help focus your initial testing of ads. Through testing, you can use digital analytics to understand whether you achieved certain preset goals and, if not, what you can do to reach audiences more effectively with future campaigns.
Results for digital ads can be measured by types of consumer engagement. For example, you can look at the number of people that visited your site as a result of seeing your ad and the steps they took once they were there. When using ad serving platforms, like Google DoubleClick, we always make sure that we tag all client URLs correctly. The tracking tag allows us to monitor our clients’ prospects to see what actions they take as they click ads and navigate through our clients’ websites. Being able to tell what pages they visit and what products most interest them helps us better understand who they are, what they want, how we need to reach them and what we need to say to them in the future to optimize the campaign’s performance.
Obviously, your digital analytics results will not always tell you good news, but there’s almost always something valuable to glean. Understanding the results can help you create a better-targeted campaign for your ultimate digital advertising success. Part of this comes from having an individual or team who can help you sort through the data to give you the key information you need, something the Digital Campaigns team here at MCC does for our clients every day.