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What Makes a Marketing Campaign Effective?

What Makes a Marketing Campaign Effective?

  • 13 April 2020
  • By OCBC Business Banking
  • 5 mins read

Previously, we talked about the three basic pillars you should follow to create a digital marketing campaign. While they help craft the structure of your campaigns, how do you ensure maximum effectiveness?

Here’s the thing with digital marketing — spend more, and you increase your reach. But reach doesn’t necessarily scale with effectiveness. So how do you make sure you are getting the most bang for your buck?

#1 Understand how to calculate return on investment (ROI)
How do you measure the effectiveness of digital marketing campaigns? This would vary according to the platform used, but a key metric to pay attention to is conversion rates.

For instance, when running an email campaign through MailChimp, what’s your open rate and what percentage follow through to your product page? That’s how effective your campaigns are in bringing in sales and money.

#2 Compare and contrast campaigns
Depending on your business, certain platforms would work better for you than others. Compare campaigns against each other to determine which platforms are most optimal for your business.

Google Analytics has a ‘campaign’ and ‘source/medium’ function so you can see which channel is driving the most traffic to your website.

#3 Tweak, test, track, and repeat
How much of a difference could changing a few words in your Facebook ad copy make? What about the colour of your ‘Order Now’ button? In the world of digital marketing, even such seemingly minor factors can have a significant effect on conversion rates and your bottom line.

You must find out for yourself. Split-testing is your friend — tweak your ad for 50% of your audience and track how it performs compared to the control group. Rinse and repeat to further optimise your campaign’s effectiveness.

Start Right. Start Digital

Keen on growing your online presence? Consider OCBC’s Start Digital bundles that provide your business with up to 12 months free subscription for selected apps.

Disclaimer

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The information provided herein is intended for general circulation and/or discussion purposes only. Before making any decision, please seek independent advice from professional advisors. No representation or warranty whatsoever in respect of any information provided herein is given by OCBC Bank and it should not be relied upon as such. OCBC Bank does not undertake any obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice. OCBC Bank shall not be responsible or liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of any person acting on any information provided herein. Any reference to any specific company, financial product or asset class in whatever way is used for illustrative purposes only and does not constitute a recommendation on the same.

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