In the previous installments of our “How to Launch a Successful Campaign” mini-series, we covered campaign types based on objectives, as well as how to choose a partner. Now that you’ve identified your objectives and selected a strategic partner, it’s time to get your hands on keyboard and set up your campaign. Ideally, your strategic partners have advised you on the best tactical mix to achieve your KPIs.
With the multitude of components required for the setup of a campaign, it is critical to ensure that you have the right mix of supply at the right price and with the scalable audience to fulfill your KPIs.
Consider a favorite recipe – all ingredients are measured for the best texture, taste, and serving size. Your media plan requires the same balance, and as “seasoned chefs”, we have a few basic recipes for success:
Upper Funnel KPI (CTR; VCR; Reach):
Your brand or product is new, and you are looking to grab the customer’s attention to let them know that this is something that exists and that they should pay attention.
- Creative: High impact larger units or innovative formats that grab attention
- Price: Bid higher to win larger units at higher frequency
- Supply: Mix in at least two partners offering In-App and Mobile Web supply to reach more eyes across different device types, including smartphones
- Audiences: Focus on key audiences at high frequency (pick partners with predictive audience solutions that will scale)
Mid Funnel KPI (CPC; Store Visits):
At this point in your brand’s journey, your customer is aware of the offering and may be looking for more information proactively. Driving them in-store or to the website will increase the probability of conversion.
- Creative: Invest in high impact creative that is tailored to your KPI. Emodo’s Drive to Store units are a notable example: While they are at a higher price point, the creative successfully delivers higher engagement (CTR) and in-store visits.
- Price: Healthy mix of smaller and larger units that balance out the price point and scale. Frequency will depend on the specific KPI and is a large consideration when factoring price.
- Supply: In-app is critical to success when strategizing around KPIs like CPC or Store Visits. Allocate 60-80% of funds to your in-app buy to garner impressive results. It is best to run across all types of inventory and block categories deemed inappropriate for the advertiser in order to yield a larger reach for the niche audience.
- Audiences: Evaluate the size of your audience to balance frequency. Consider real-time geo-fencing as a substitute for the audience to ensure you are getting people in the right area.
Lower Funnel KPI (Cost per action):
Your customer knows that the product exists, they have shown previous interest, and now is the time to get them over the finish line to take action!
- Creative: This is a reminder to convert and get them to act. Creative should be targeted and cost effective for purchase. Ease of conversion is the goal. Is your product purchased online through an app? Does it require to visit a store? The easier the path to conversion, the faster the action.
- Price: Efficiency is the ultimate key. Find the most affordable way for your customer to take immediate action.
- Supply: Reach is critical when you are looking for your prospective customers. By keeping price low and creative to standard IAB spec, your media mix should be a 50% Desktop/Mobile Web and 50% In-App to ensure that you are capturing your audience on their preferred device type.
- Audiences: Audiences are additive to the price point. Consider using first- party audiences of known in-market users or ask your partner to model look-a-likes. Executing run of network with a focus on retargeting leads is the most efficient way to get prospects to take action.
Determining your KPIs is critical to launching a successful campaign, and using these recipes for success are sure to help deliver results that drive an impact! Interested in learning more about how Emodo can help you hit your goals? Reach out today!