- Natalie Kortum
going beyond cTR
I’ve mentioned before that click-through rate (or CTR) isn’t the only method for measuring a marketing campaign. While it’s a useful metric, focusing on it without considering other ways a campaign is performing might not give you a complete, accurate picture of what’s really going on.
In part one of this video, I explained that the goal of the campaign is very important to an understanding of the results because they can impact the measurement drastically. But just as a refresher: Would you use the same measurement for a campaign whose goal was to increase sales and checkouts versus a campaign whose goal was to introduce a product? For the first example, you’d look at the people who were served a goal and determine if their sales and checkouts increased to determine if your ad was successful — whereas when introducing a product, you would see if they explored the product area of your website, searched for the product, discussed the product with a sales representative, or downloaded material about the product. The goal of the campaign is critical to determining overall success.
But there are still more options for evaluating how well a campaign is doing it’s job, and the two I touch on in this video are:
A/B testingMarketing Mix Modeling results – Sales impacts in comparison to other campaigns (isolating for other changes to the business)
While multi-billion dollar companies often use marketing mix models — advanced modeling that attempts to isolate changes from a campaign from other impacts to the business, and derive a revenue impact — most companies are content with A/B testing to determine if their marketing is incrementally improving. In A/B testing, you measure two ads (or creatives or other marketing elements) at the same time (sending customers to one or the other randomly) and compare their performance. It is a very useful approach to attempt to determine if a proposed ad is better than the current ad and allows a business to analytically improve their approaches.
In the end, CTR is only one measurement to help measure the success of a campaign and as our industry grows in its intelligence and customization of marketing campaigns, we will need more than just CTR to determine if a campaign is successful or not.
This content was created per request of Multiview and included in their blog posting. Please see the resulting interview and original post here.
B2B Beat Ep. 3, Part 2: Marketing Analytics Beyond CTR