Now that the year is drawing to a close, let’s take a look at the numbers that make up the costs and returns of ad campaigns in the EDU space. With the rapid development of everything digital, advertising spend also saw an unprecedented growth from the previous years. People are online now more than ever.
Take a look at Statista‘s chart below for more insights on the total digital advertising spend and projected spending for U.S. companies from 2016 to 2024.
Optimize your campaign
To the untrained eye, digital campaigns might seem easy. Tweaking settings and a click here, and your campaigns are up and running. However, this couldn’t be farther from the truth. Although the world of digital is overflowing with data, this doesn’t mean randomly putting your money in ad campaigns and hoping for the best.
What you need to do is have a well-structured strategy, making sure each of your choices are data-driven and set towards the direction of your campaigns.
Always have a goal beforehand
Your goals will inform your strategies. Having one like ‘increase the number of subscribers’ is not enough. Besides that, it’s not just revenue goals you need to keep in mind.
Instead of setting a revenue hit, work backwards and look into actions that will support them and set a goal for that. Here are some examples of objectives that you can measure and track as your progress:
- Greater website traffic
- More locals calling
- Building awareness for working parents who are juggling their online courses
Be specific and realistic
Always be precise with your strategies in order to get the results that you want. Whether that’s the target audience’s demographics, location, or some other metric, make sure each factor is accounted for.
Other than that, always double-check on your strategies to see if they’re the ones that can help you achieve your goals. Say you up your budget, ask whether or not the additional profit is worth all the effort to attain that. The keyword here is profit, not revenue. Sure, you’ll be getting much more revenue with maybe one or two additional views but that will be at the cost of money spent on other channels, for example. Without looking at the big picture, you fail to optimize how you’re spending your money.
Make your campaigns work together
“If you want to go fast, go alone. If you want to go far, go together,” so goes the proverb. Think of all of your campaigns as one whole team designed to push as much effort into greater conversions.
You need to make sure that each and every one of them are working together, and not against each other. There’s also the power of the compounding effect that makes adding a successful campaign on top of another multiply the overall success of your business.
Going through all of this can be such a massive undertaking. However, it’s best to do it step-by-step. Continuously reevaluate your budget and see what needs tweaking—what needs to be bumped up for increased spending and what needs to be lessened. That way, you’ll be sure that you are maximizing your resources and minimizing the costs.
Take a look at the chart here to see the changes in digital campaign priorities through the years.