Critical media buying skill: auditing and tracking campaigns
I’m sure you have all heard the saying, “you can’t manage what you don’t measure.” Well, it’s true. It doesn’t matter how good of a marketer or media buyer you are if you are not measuring your success. Auditing and tracking campaigns is an important skill for any marketer to master. In this post I will outline some of the reasons why auditing & tracking campaigns are so critical and give suggestions on how anyone can start today.
What is media buying and what are the different types of campaigns
Media buying is the use of media obtained through a third party, intermediaries or complete self-management to advertise an organisation’s sentiment and their products. A trial campaign may be run to experiment with different types of campaigns and find out which will work best for your business.
For example, Facebook offers page post ads that allow businesses to target by people who have liked their page on Facebook and Instagram stories. So if you’re targeting only people who have liked your pages on Instagram and/or Facebook, then it would be one step closer in making the message more effective because they are already ‘liking’ what you’re talking about.
The two main types of campaign for advertisements on Facebook and Instagram are paid campaigns and organic campaigns.
Paid Campaigns – Facebook and Instagram both provide the ability to buy ads in order to promote a company’s product or campaign. Companies can create a target audience, set a budget, and buy “impressions” (exposure on users’ feeds) or even “engagements” like shares or likes.
Organic Campaigns – Organic posts on Facebook are more visible because they will be featured in News Feeds depending on the relevancy of the post’s content. Paid ads are a ‘one-time deal’, while organic posts can remain active until they stop gaining traction. From another perspective, it is much easier for brands to target specific groups of people tailored to a company’s needs using paid advertising than simply waiting around for something relevant to organically pop up like that proverbial needle in the haystack.
Why audit and track your campaign
Auditing your ads campaign will ensure that your budget is well spent and you are getting the highest return on investment possible; it is an important way to learn from successes and failures in campaigns.
There are many reasons to track your Facebook or Instagram ads campaign but here are a few of the most common ones:
You can see which ads work best, if you’re unable to find anything that converts well, and how much each ad costs. You also get analytics insights for various data points such as impressions, clicks and click-through rates which may give you an idea for new creatives or placements. All of this is dependent on how granular your targeting is – the more niche the group a pixel is being put into the better your results will be.
Auditing a campaign
To audit a campaign on Facebook or Instagram, follow these basic steps.
1) Open the Ads Manager App
2) View all current campaigns by clicking on the “All Campaigns” tab and selecting “All” from the View By drop down menu
3) Review campaigns to determine if they are meeting goals.
4) Adjust your budget accordingly – Click on budgeting gear icon in upper right-hand corner > Adjust Budgets > Change Budget Limit
Tracking a campaign
Generally, there are two ways to track how a campaign is going on Facebook or Instagram. One way is through the ad manager, which offers updates and insights into your campaign’s performance metrics including impressions, clicks and conversions. The other option involves using an external tool like Metricool or Social Bakers to reveal more in-depth data such as demographics and psychographics.
Media buying is a critical skill that requires knowing how to audit and track campaigns. Auditing helps you understand what’s working, what isn’t, and why your campaign may not be generating the results you were hoping for. Tracking allows you to see if there are any changes in performance from one time period to another which could lead you down new paths of inquiry about how well the marketing message is resonating with customers or prospects who have seen your online ads. If this blog post has helped give insight into auditing and tracking media buy campaigns then we hope it will also help answer some questions of yours. Whatever stage your company might currently be at – just starting out as an innovative start-up venture or scaling up operations after proving a successful ROI then get in touch.