Companies use advertisements and promotional campaigns to capture the attention of the audience in a very effective way—but they also have to know if their ploy works or not.
Adverts are everywhere, just take a look, you’d easily to be able to spot several promotional materials and mediums around you, all convincing and encouraging you to make a purchase of their brand.
With internet coming into the realm of our fingertips, the whole advertisement industry has shaken up quite a lot in the last ten years or so. The traditional media planning agencies and companies have had their work cut out thanks to the emergence of the online marketing world.
Hence, every advertiser has become wary of his or her spending and expenses. No one wants to overspend and destroy a conventional advertisement campaign and ruin a promotional plan. Thus, measuring the return on investment (ROI) on the orthodox adverts has become a norm in today’s world.
Confused on how you can do that? Let us dig deep and understand more on how to track the ROI of your traditional promotional scheme.
Buy and then keep a track record of what traditional media you have
The return on investment on your media buying would only be possible if you purchase an asset for displaying your advert or poster first. Thus, it is vital that you must buy media to satisfy all your promotional and brand strategy needs.
Since getting hold of the best advertisement spot or location can be an issue for most advertisers, you must make thorough use of the online media selling and buying platforms. These websites have the power to deliver you the best advertisement assets as per your requirement so that you can maximize your media mix strategy. To get the best ROI from your advert plans, you have to purchase the best spots to put your adverts on.
Apart from obtaining the best location, the next thing that you must focus on is managing the assets. Thanks to these platforms, you can now do that with your mobile phone, as all your requests will be entertained right from your device. And, when you are purchasing conventional advert spots, you have to put faith on a reliable partner. Any media selling and buying site can even offer you the chance to put up proposals so that you can get in touch with the best associates and the mostsignificant deals, who are actually the trusted partners of the website.
Finally, as soon as you procure the desired advertising spot or location, with these online platforms, you can then track your assets. With the help of the dashboard option these websites provide, advertisers can simply check and get real-time data on their current media asset types and the present situation of their media plan. These websitescan also deliver the complete ROI of the advertising places and spots purchases you have made till date. Just check out this video, and you will understand what we are trying to say to you.
Doing both online and offline surveys to understand whether your strategy is working or not
When you have a budget to use, won’t you make it a worthwhile practice to make the full use of it? Whatever resource you have, it is your duty as an advertiser to maximize it as much as possible.
Thus, it is important that you must do proper research before you start investing on the adverts. Besides this, it is also logical to do post-campaign check too, in order to identify where you went right, and on what counts you steered off.
For example, before you begin your advertisement campaign for a hi-end sports car, you can ask speed enthusiasts about which magazine they read, where they live/work, and which radio channel or newspaper they opt for, etc.
Once you know where your target audience hangs out, what it reads, listens to, you can then set up appropriate ads by buying relevant media mixes. By following these instructions, you can quickly workout what content to put and how you can attract your targets.
The survey will also indicate where to place your adverts (for the example stated here, you can select car magazines and billboard adverts at upscale neighborhoods, financial and commercial districts).
Similarly, you can also do post advertisement strategy surveys to check how did your campaign ultimately work out in practical and reality. If your plan did actually generate the ROI, then people will have the knowledge about your product and brand. In fact, some may have already made purchases because of your clever planning. All of it will indicate whether you have achieved the ROI from your brand strategy or not.
Ways to conduct the surveys:
- Online data procurement
- By calling people up
- Emailing them
- Or taking primary data by talking one-on-one
Remember, both,your post and pre-media buying, surveys must be customized according to your work or industry.
Cross check with your sales numbers and profits
If you want to know how your media plan fertilized, then you can also rely on the figures. The sales bump that you might experience will be the surplus that you would record because of your brand strategy. Similar, the extra profit that you’d obtain would also indicate that your strategy has worked.
You just need to start a branding campaign, select the best plan for it, manage it with the help of a media buying-selling website, run it for few months, get the results, and tabulate the data and the information. Anything above your average sales and profit count—after canceling out the regular growth rate—can be credited to your traditional marketing plan and hence you can get an accurate rate of return.
Calculating the ROI of your advertisement scheme might not be an easy thing to do.Nevertheless, it is quite vital to get at least the numbers from the practice to crunch as advertisers can make accurate andproper plans through them.