The best and worst thing about digital campaigns is that they’re captained largely by humans. *Gasp!* What does this mean? Unlike traditional advertising, a big bulk of digital advertising falls under automated bidding and other processes. However, that doesn’t equate to a total absence of human work.
Think of the ad campaigns that made you stop and pause, and maybe even rewind if it’s a video ad. More often than not, it’ll be because of the je ne sais quoi of the human touch (whether it’s the creative or strategic vision)—making you resonate so much with the message of the product or service.
On the opposite spectrum of this is the existence of inefficiencies at each stage. This is a natural part of any campaign. The good news is you can educate yourself to watch out for these inefficiencies and minimize their effects.
Huge Cost Per Application
The very first thing you need to look out for in your campaigns is inefficient spending. Are strategies requiring you to invest so much of your time and resources only for them to give below-average results?
They’re much more common than you think. You will typically detect this symptom with a huge cost expended for each application acquired. Once you know where these huge costs originate, don’t hesitate to kill off these processes. They will only free you up so you can start working on campaigns that actually work.
Low Revenue/Profit Per Application
On the other side of the profit equation is the revenue. You need to make sure you’re receiving a lot in order to offset the costs, right? Sometimes, however, growth can be limiting. You’re straddled with a choice between higher costs for growth or remaining where you are.
If you’ve got the resources and conviction to grow, do so! Think of it this way: yes, you’re adding a lot of costs but more resources could mean more conversions in the future. Don’t just spend for spending’s sake. Have a plan for growth. Staying where you are right now is a risk in itself too, especially when you’re surrounded by hungry competitors.
Remember that it’s not always a matter of more, more, more! More views don’t necessarily mean more quality leads. Being on more platforms doesn’t guarantee more conversions.
In fact, sometimes, it’s quite the opposite where putting all your energy into a few, select places or campaigns can raise up your volume of leads. That’s because you know how your audience talks the talk.
Choose campaigns that garner the results that your company needs the most right now. Perhaps people are already aware of what you have to offer. Devote time and effort now in the consideration phase so you can turn that awareness and exposure into clients.
Focusing On Just The Short Term
If you’re only focusing on campaigns that guarantee quick returns, you’d be missing out on a lot of learners. Consider how education is one of the most important choices your prospects would have to make in their lives. It makes sense that the turnaround for the conversion and return on investment would be on the longer horizon.