Inside Tracking Ad Spend — How Can You Plan For The Future?
- Inside Tracking Ad Spend —How Can You Plan For The Future? - July 28, 2020
There’s an old adage int he ad industry: Half of the money you spend on advertising works — you just don’t know which half.
To some degree, this is still true.
But with today’s technology and the all the advanced tools at your disposal, you should know exactly where your dollars are spent, and what sort of return you are receiving.
Fortunately, BAM does this for you…
Between custom technologies tailored for your business and the plotting of your own data, you should know exactly what’s working and what isn’t. Did you get a lead lift after being on TV for 6 months? Are people hearing your radio ad? Someone clicked on your Google Ad, but did they buy your product?
These are questions we’ve heard. Since we control your advertising and marketing, we believe it’s our responsibility to tell you how effective your advertising is.
We Have Fun With Data So You Don’t Have To
Aggregating data and plotting it against spends is an easy way to gauge the effectiveness of your advertising.
After pumping thousands of dollars into OTT (Over The Top advertising in streaming services) for a few months, you’ll want to see some sort of lead lift or an increase in appointments.
BAM doesn’t just monitor these trends, we base our recommendations off of them and use it for planning. And it’s important to bring it down to the local level if you have multiple storefronts.
Just because radio in Dallas is effective, it doesn’t mean you’ll see the same results in Philadelphia. While it’s important to look at the big picture across the nation, we understand that ultimately, it all boils down to what works in your market.
Transparency and Visibility
While trends help us make recommendations on traditional media, there are tools that tell us exactly what works and what doesn’t digitally. Return on Ad Spend (the amount of revenue you’re generating from each dollar spent) is a hot topic in today’s advertising landscape and we’re at the forefront to deliver you those results.
We’ve created custom tools and algorithms that give you the visibility into how your Ads campaigns are doing. This metric tells us where to shift dollars to, if there’s opportunity around a new initiative, and what’s bringing in the highest revenue. It’s your money, but it’s our job to make sure it’s being spent efficiently and effectively.
But BAM never settles and we’re always looking toward the future. What’s next to come? Your phone hears a radio ad for Wendy’s and 24 hours later you’re using Apple Pay to purchase a JBC? Advertising is a dynamic field. Every year there’s new technology coming out. We make it a point of emphasis to test it out and report back on those results. After all, if it makes your job easier and helps your business, we owe it to you to discover the value of it.