As part of our recent series where we bring you opinions from experts, we chat with Lior, COO of Moburst. Lior shares his top 5 tips for successful paid media campaigns. *** Here at Moburst, we are laser-focused on results. From our extensive experience, we know which levers to pull in order to get the most out of our campaigns for clients. We’ll look at paid media campaigns. These campaigns are an important part of any organization’s strategy to achieve their goals. Goals can be many – whether these are increased sales, engagement, awareness, or any other goal that the organization sets. What follows are my top 5 tips for successful paid media campaigns.
#1: Track The Right Events
Setting goals and then tracking your success against these goals is really important throughout a paid media campaign. Many advertisers look only at upper funnel metrics such as CPI, which doesn’t tell the whole story and can even be misleading. I recommend tracking all funnel events. This gives a holistic picture of your running campaigns, and lets you constantly optimize to achieve best results. For example, setting a target CPI and then not achieving this can cause some people to pause a campaign or make big changes. In a case like this, looking at the full funnel can reveal areas where a small change can lead to a drastic improvement.
I have often seen, for example, a campaign where the CPI is above the targeted CPI. Once we dig a bit deeper and look at the full funnel, we see that impressions in certain geo’s aren’t translating into clicks. A little tweak or localization on a landing page will very quickly result in a CPI well below the targeted value.
#2: Track Revenue And Optimize For ROAS vs CPA
We sometimes see clients who are wary to share revenue figures with their media partners (even MMPs). While many times it’s an organization’s business decision, there are many benefits to looking at revenue versus just looking at specific actions (deposits, rides, etc.). At the end of the day, both the provider and the client should have their interests aligned, and this is generally Return On Ad Spend (ROAS). Both the company and the client want to see that campaigns have directly contributed to the bottom line. By sharing this information, both parties can be “on the same page”, can be looking at the same success metrics, and can have a realistic idea of how a campaign is performing.
#3: Avoid Scaling Up Scaling Down Drastically
Making large-scale changes mid-campaign – and specifically scaling up or down drastically – can have negative effects on your campaign’s performance. This is partly due to the algorithmic changes that occur on large platforms, which make changes all the time to certain parameters based on performance to-date. So if your campaign has been running for a short amount of time and you suddenly scale up, the sample size that the algorithm has to go on may not be enough to accurately optimize the campaign at scale.
#4: Look At Day Parting/Day Of Week
There are many apps that behave differently during different days or times of the week, and specifically on weekends. It’s important to take this into account, and consider smart moves like weekend campaigns, or at least allocate spend in a considered and data-backed manner. A great example is apps that are connected to a sporting event, such as football matches. Of course, interest and usage will spike around game days, so it’s critical to allocate your campaign spend accordingly.
#5: Invest In Smart Creative
Today, generic creatives just don’t cut it anymore. They get instantly ignored as we are faced with tons of information flying at us 24/7, and our brain simply blocks these out. This is also relevant in an era of huge changes in the way that consumers react to ads: whereas in the past, people were ok with ads interrupting their consumption of media (radio or TV ads), today, consumers are willing to pay a premium in order to remove ads entirely – think Netflix or Spotify.
One of the most effective weapons you have in your arsenal is powerful creative assets. A good, smart Creative can arrest the attention of a user, project professionalism, stand out, explain more about the app, and lead to significantly higher installs and retention rates. If you’re paying for a great media campaign, you’re doing yourself a disservice if your creative assets aren’t optimized to be awesome.
Campaign Success Is Yours
These are just 5 of the many tips I have when it comes to running successful paid media campaigns. At Moburst, where we work with the world’s best-known companies to help them get the most out of their campaigns, we’ve accumulated a ton of experience, which we leverage to ensure success for all of our clients. Hope you enjoyed my top 5 tips for successful paid media campaigns, and if you’re interested in finding out more, I’d love to hear from you.