Marketers must change their ad strategies from conventional volume-based tactics to higher-yield, targeted efforts as a result of limited resources and increased scrutiny of ROI.
Marketers today need to be adaptable and agile with well-thought-out and scrutinized budgets. The best way to remain flexible and adaptable is to have insight into consumer preferences. In the race to measure ROI across the full funnel, investments in reliable and robust data sources will be money well spent. Measurement shouldn’t be confined to particular platforms and channels since consumer journeys are not. Marketers must look to break their metrics out of traditional silos and develop comprehensive strategies that track across the full funnel in an increasingly fragmented media landscape, where the customer journey can start at A and end at Z rather than A and B.
Marketing teams must change their ad strategies from conventional volume-based tactics to higher-yield, targeted efforts due to limited resources and increased scrutiny of ROI.
In its latest report, Terminus, the makers of an Account-Based Marketing (ABM) platform, compiled distinctive trends in the structure of high-performing ad campaigns to aid in the delivery of more effective advertisements. Other ABM platforms report average ad fraud rates of 8-20%, according to a new ABM Benchmark Report by Terminus on B2B Digital Advertising.
Also Read: 4 Ways to Monitoring and Improving the ROI of Digital Marketing
Rising costs of ad fraud
According to Statista’s research, Digital ad fraud losses worldwide from 2018-2023, the total cost of advertising fraud exceeded USD 81 billion last year; by 2023, it is expected to reach USD 100 billion. Consumers can save money on ad fraud loss while achieving better targeting and campaign reach with lower ad fraud and cost-per-mille (CPM) rates.
According to Terminus’ chief marketing officer Natalie Cunningham, “One of the most significant line items for CMOs is always advertising spend. However, missing the mark on ad performance isn’t an option because marketers are under intense budget scrutiny. Terminus increases reach and ROI for marketers, maximizing investment and producing significant revenue results. ”
Whether targeting consumers or buying committees, marketers can use the appropriate tools to reach the right crowd with the appropriate content at the appropriate time.
Channel mix optimization
Brands have the chance to offer assurance in measurement capabilities where confidence is low to help brands improve their execution and results due to the gap between trust in full-funnel ROI measurement in preferred channels and overall MarTech satisfaction. To avoid passing up opportunities, marketers should focus on comprehending and quantifying the link between brand awareness and sales with the help of the appropriate measurement solutions and partners.
The issue is that different industry solutions rarely consider both upper- and lower-funnel marketing activities. Therefore, marketers should conduct effectiveness studies for both short- and long-term ROI to address the need to balance short-term sales and foster long-term growth.
Running marketing mix models (MMMs) to optimize channel mix for immediate sales, followed by a second analysis to optimize channel mix for awareness or other upper-funnel metrics, is one way to achieve this. Then, considering the organization’s objectives, brands should combine the two plans. By doing this, marketing teams can develop a more balanced strategy that supports both their immediate needs and long-term goals.
Stabilizing marketing budgets to increase revenue impact
Although marketing budgets are frequently scrutinized, the last two years have made the value of effective and efficient spending even more apparent. Marketers should look to leverage technology that meets their as well as their customer’s needs. The marketing teams should concentrate on solutions that give them the confidence they need to demonstrate that their investments are paying off. This will help them to get past this crisis of confidence in measurement, particularly when it comes to next-generation channels.
In its report, Terminus compiled unique insights about the structure of high-performing ad campaigns to assist marketers in delivering more effective, targeted ads. Based on the report, here are some things marketers need to keep in mind to maximize revenue impact:
Email and LinkedIn
These two tools boost marketers’ return on investment. Even though there are no placement or click-through fees for ads in outgoing email signatures, they have the highest click-through rates, ranging from 0.50% to 0.80%. Although LinkedIn ads can cost up to USD 30 per CPM, they are highly targeted across a variety of demographics, industries, company sizes, and other factors, and they have click-through rates as high as 0.60%.
Also Read: With a focus on profitability, Asos pursues increased marketing ROI
Messaging and CTAs
Ads will reach the intended audience with a proper ABM strategy, but the content is still crucial. Marketers need to write clear value propositions and call to action (CTAs) to get people interested in learning more on a landing page or other marketing resource. Additionally, in order to increase engagement, marketers should differentiate messages based on audience segmentation, use strong callouts like customer testimonials to highlight the value of a solution, and coordinate messaging with overarching campaign objectives.
Visual Selections
According to the report, brands must make shrewd visual and color selections. Despite ‘ the continued popularity of graphics, advertisers should consider using human-based images due to the higher click-through rates. According to the Terminus report, the most effective background colors are blue, black, and green.
Brands need to be in a much stronger position both now and in the future by transforming data into information that demonstrates business impact and fostering relationships with significant leaders like the CFO.
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