Table of Contents
- Introduction
- Creative production and
Personalization; The Holy Grail of Display Advertising - Target the Right Audience
- Fine-tune campaign budget allocation to meet
campaign goals - Perform A/B tests on creatives and landing pages
- Examine performance data
periodically to identify improvement opportunities - Wrapping Up
Introduction
Display advertising is a powerful tool for marketers but when it comes to unlocking it’s full potential simply setting up ads isn’t enough—to take your campaigns to the next level, you must engage in ad campaign optimization.
This involves running experiments, assessing performance data, and finding ways to improve campaign results.
Due to the persistent economic instability, 2023 will pose a difficult year for paid advertising.
Maximizing a display ad campaign’s potential and achieving strong returns on investment are essential goals for any business in the coming year.
To make sure your display ad goes the extra mile and delivers maximum ROI in the new year here are five actionable tips. Let’s quickly dive into them.
Creative production and Personalization; The Holy Grail of Display Advertising
As we prepare to enter the new year, it’s clear that creative optimization is becoming increasingly important for brands.
Creative optimization unlocks chances for increased engagement and brand recognition, opportunities that can’t be ignored amid the rising demand for personalized experiences.
Advertisers need to meet these expectations by creating highly visual, relevant ads at scale while also ensuring processes remain efficient.
This is no easy feat, but with creativity driving better results in 2023, investing in creative optimization is a must.
Creative automation tools integrate technology to enable the production of creatives at scale, streamlining the design process by eliminating tedious, high volume tasks.
The major benefit of creative automation tools is their ease of use and low barrier to entry. No steep learning curve is required for you to get started.
For instance, AdCreative.ai is an invaluable tool that can help businesses quickly create compelling ads that would otherwise require weeks to complete.
Dynamic ads can give you the extra edge needed to reach conversion goals as they allow for elements of an ad to be changed according to viewer data for targeted accuracy. With dynamic ads, you can be sure you are delivering that all-important right message at the right time.
A key feature for successful ad campaigns is having all creatives on-brand.
Not only will this help create an authentic and familiar viewing experience, but it will also build trust between your brand and potential customers while achieving the best results.
Target the Right Audience
Casting a wide net might seem like the best way to catch more fish, but expert fishermen know that it’s more important to have a well-crafted net that fits the specific size of the fish you’re targeting.
Experienced anglers also recognize the importance of knowing exactly where and when to deploy their nets for their desired results.
The same concept applies directly to marketing – by carefully targeting your desired audience with relevant messaging and content, you stand to receive higher rates of engagement and greater conversion.
By targeting your ads more specifically, you can ensure that they become more relevant to your target audience. Utilize multiple targeting options to accurately define your audience.
Hyper-targeted marketing has become increasingly commonplace in recent years and it’s just as likely that you have experienced it, even if you weren’t aware at the time.
We are seeing more examples of this every day, from online sneaker companies sending ads on Twitter the day after you were sneaker shopping online, to emails with offers for nearby pizza places while traveling.
It might be a little creepy at times but hyper-targeting enables companies to identify their desired audiences accurately and deliver highly relevant messages directly to them.
As great as that sounds, it also has downsides like higher costs per click, inaccurate segmentation and more.
Another strategy to keep in mind is personalizing your ads.
Rely on the creative’s power – that’s what will grab people’s attention – while using your budget in the most efficient way possible. After all, creative is the new targeting.
Keep a close eye on how your target audiences are performing throughout the campaign, as you can always pause those who aren’t doing so hot and add new ones that will bring your ads in front of the right people.
Exploring different targeting options in 2023 is encouraged in order to identify the most effective audience for a specific campaign.
Fine-tune campaign budget allocation to meet campaign goals
As you plan for 2023 bear in mind that Google Ads cost per lead has increased for 91% of industries, with an average of 19%.
But, setting a budget without understanding its purpose is like carrying out a mission without the appropriate supplies.
Before allocating your funds for ad campaigns in 2023, it’s essential to understand the end goal and create measurable objectives with time-sensitive deadlines.
Whether your aim is to drive sales, generate leads, increase website traffic or boost brand awareness, managing your budget will be essential to allow you to successfully reach your goal.
Automated bidding strategies are an efficient way to ensure that your budget is being put to the best use.
Start by taking an average of your daily budget and multiplying it by 30.4 for a detailed overview of what you will be spending for the entirety of the month.
As you analyze performance, if you’re seeing successful results at a good cost per conversion rate, consider increasing your budget, investing in even better results.
Don’t forget that before cutting your budget when faced with high costs per conversion, there are other optimization strategies to consider like retooling creatives and excluding underperforming placements.
When making any kind of adjustments to the budget do so slowly as sudden changes can massively disrupt your campaign’s performance, so ensure no more than 10% is adjusted in either direction at any given time.
That way you’ll stay in safe hands with your campaigns and secure successful results!
Perform A/B tests on creatives and landing pages
No matter how accurate your targeting or tailored the creatives may be, it is impossible to anticipate the response of your target audience. Luckily, you have access to a very handy tool—A/B testing.
A/B testing ads is a simple, yet powerful tool for determining the best version of your asset.
With A/B testing, you create two distinct versions of your display ad or landing page, and launch them both to uncover which one performs best.
It is essential to maintain a regular practice of A/B testing, even when achieving desired results, as there is always potential for improvement.
By discovering what works and what doesn’t, you are able to enhance performance over time.
When conducting A/B testing, it is important to bear in mind that only one element should be modified at a time. This means that when running two ad variations only one element should be changed, be it ad copy, an image, or illustrations, CTA or something else. This also applies to landing pages.
Similarly, it’s important to either test the creative or the landing page but not both at the same time.
If modifications are done in multiple areas simultaneously it will make tracking those impacts difficult and unlikely to yield informative results.
Also, remember that a single A/B test should not be applied to all ad campaigns. Each campaign should be tested and optimized based on the specific audience it is targeting.
By keeping this in mind, marketers can gain actionable data through A/B testing that can help push their campaigns to success.
Examine performance data periodically to identify improvement opportunities
You can’t afford to ignore data when it comes to paid advertising. It’s the guide you need to keep going in the right direction.
Data-driven decisions will ensure your campaigns are well-informed and successful. By utilizing data, you will have a better understanding of where to best invest your resources and where to ignore.
Leveraging analytics is essential to maximize ROI from your campaigns. Selecting the right key performance indicators (KPIs) for tracking is fundamental as irrelevant metrics will lead you further away from your goals.
Ensure frequently that you are on track by examining data insights and making necessary modifications.
There are numerous tools that can be incredibly convenient when dealing with huge amounts of data to sort through – this will help keep you focused on what matters in an effort to achieve your campaign objectives effectively.
It is important to note that campaign optimization is an ongoing process, and therefore it is not sufficient to review performance only once.
It is recommended to review performance on a weekly basis in order to ensure that all campaigns are being managed effectively, although optimization decisions may not be necessary each time performance is reviewed.
Wrapping Up
Building and optimizing display ad campaigns can be time-consuming and complex, but having the right tools to help simplify the process can save time and make it easier to create successful campaigns.
Keep in mind that when it comes to optimizing ad campaigns, results may not be immediate and there may be a learning curve.
It is important to stay persistent and keep making improvements until the desired results are achieved.
With the right strategy and dedication, you can be sure to achieve success in your ad campaigns in 2023.
