If your company's promotional strategy is based solely on the quality of the product or its price, sooner or later there will be a competitor who will offer the same conditions or launch a similar, possibly better product. You will then have to compete on price. And that is a one-way street.
A new strategy, a trial advertising campaign, a marketing promotion tool rarely produces immediate results. Dropshipping is one of the simplest business models that is actively used to test new business ideas by studying feedback through analytics, indicators, dashboards, surveys, satisfaction surveys. Certain e-commerce metrics allow you to analyse data and show how customers behave when shopping online.
In principle, it is not difficult to "measure" the success or failure of a business project step by step. Incoming calls, increased sales, revenue, profit and profitability assessment. But what if the consumer does not respond to the advertising, does not come to your site, is not interested in the product? How do you track their response? These questions are particularly acute when selling products with long life cycles. Let's get to the bottom of it.
Impressions
A clear and simple indicator of advertising effectiveness is audience reach. This is the number of unique views of users who have seen the ad or publication. Although this is a basic metric, it cannot show the level of awareness and interest of the user.
Conversions and conversion rate
Conversion is one of the most important metrics you can use to gauge the effectiveness of your advertising campaign. Without it, it is impossible to create a reliable sales funnel. By tracking clicks and user response in real time, you can quickly change company settings, visuals, frequency and timing of ad impressions. Ads drive awareness, while conversions and conversion rates drive lead generation.
Metrics
Analysing audience engagement metrics shows how interesting the ad and the product itself are to potential customers. It's about conversions and number of leads.
In addition, it is important to monitor advertising costs, evaluate effectiveness and return on investment. For example, metrics related to cost per customer acquisition, average cost per purchase, ROI, etc. can help determine whether or not it's worth continuing to invest in a particular campaign.
CPM. Price per thousand.
Analyse and compare the price per thousand impressions/clicks/conversions/completions of your video. This is a great way to determine which resources and ads are most effective. Monetary results are easier to understand.
Unit economics in e-commerce
In order to monitor the situation in the dynamics of e-commerce, it is necessary to conduct daily monitoring of: site traffic indicators, CTR (ratio of clicks on ads to the number of their impressions), CPC (cost per click) and the state of social networks. Weekly analysis of large sample size indicators - average order value (AOV) and number of abandoned baskets.
Arabesco Sideral
Choosing the right metrics for your advertising campaign is a key decision that needs to be made early on. It should be based on the goals you want to achieve with the campaign and the metrics you can accurately measure.
Marketing promotion with Arabesco sideral includes media planning, social media strategy, pricing and support. Incorporating metrics into all phases of marketing campaign planning is an important step for a successful project. Arabesco sideral unipessoal lda will select the tools you need to analyse your market, your partners and your products.