Showing posts with label ROI. Show all posts
Showing posts with label ROI. Show all posts

4.10.20

Increase Your Facebook Ads ROAS With targeting ideas, and secondary metrics

 You can grow your business like crazy if you know how to increase your Return-On-Ad-Spend with Facebook Ads.

My experience


1) Use Lookalike Audiences Instead of Cold Targeting


2) Target Worldwide


3) Test All Placements

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Facebook Placements

4) Test All Ages & Genders


5) Start a Conversion and a PPE Ad at the Same Time


6) Improve Your “Positive Feedback” Score


7) Only Keep the Profitable Ads


8) Create Stronger Retargeting


9) Improve Your Landing Page Design


10) Understand the ABT of Facebook Ads


Final Words on Improving Your ROAS

2.7.20

Penny the Pirate| OPSM

The first children’s story that’s also an eye test

Another powerful campaign consistently noted for its originality, Penny the Pirate has won 35 major international and national awards and was named the world’s best marketing campaign of 2016 in the annual Warc rankings.
Based on the discovery that “one in six kids have a vision problem and for many it’s undetected”, research uncovered by Saatchi & Saatchi revealed the reasons behind this statistic amounted to children’s’ fear of optometrists or the fact that many live in remote areas, far from reach.
To tackle this issue, the idea for Penny the Pirate was born, leading to the world’s first medical tool that tests children’s eye health as you read to them. Made available for free as a book and interactive app, this innovative campaign not only helped to address the growing issue at its core, but successfully positioned OPSM as a global brand committed to eye health.
On track to providing 300,000 children with an eye test, Penny has reportedly led to a huge increase in children’s’ eyewear sales.
Melinda Spencer, VP of Marketing for OPSM says: “We passionately wanted to create a useful tool that helps time poor parents to screen their children’s vision from the comfort of their own home, either through the book or through the app in a fun way and are overjoyed that it has been recognised internationally.”
Saatchi &Saatchi commented:
One in six kids have a vision problem and for many it’s undetected. This is because children don’t like coming into scary optometrists, or they live in remote areas, far from reach. As a brand that’s committed to eye health across Australia and New Zealand, eyecare provider OPSM needed to address this growing issue.
We took the eye test to children by creating Penny the Pirate, available for free as a book and interactive app, it’s the first medical tool to test children’s eye health as you a read a story to them. There wasn’t a standard eye screening tool for children, so we had to start from scratch.
We collaborated with illustrator/author Kevin Waldron, and the Department of Vision Sciences at Melbourne University, to identify three critical tests that would detect the most common vision problems for children, and then integrated them into a story. This resulted in a Therapeutic Goods Administration approved screening tool in the form of an interactive storybook. When books were finished with, parents could share their copy via a “Pass It On” program.
OneSight, a not-for-profit organization, is also using Penny to reach children across remote regions of Australia, helping them test more eyes than ever, because it’s more efficient, accurate and engaging than previous methods.
Penny is on track to give 300,000 children an eye test, which has already seen a huge increase in kids eyewear sales since launch. The app has also reached number one Health & Fitness App in the App Store


15.3.12

How to Measure Those Three Little Words: Return on Investment by Jim Bergeson



In this article, you'll learn...
  • The basics of calculating marketing ROI
  • A more nuanced and comprehensive way to calculate ROI
Sure, marketers like to hear those familiar three little words: "I love you." But, let's face it, no three words are more beautiful and pulse-racing to hear while on the job than "return on investment" (ROI).
Marketers are on the hook. Measuring ROI on each marketing activity is critical to proving our effectiveness and competing for scarce resources. Evidence that supports that notion: Nearly two-thirds of surveyed CMOs (63%) think ROI will be the primary measure of their effectiveness by 2015.
But what was profoundly revealing was that 56% of surveyed CMOs said they feel inadequately prepared to manage ROI. That means the pressure is on to calculate ROI in ways that yield accurate, supportable numbers, particularly pertaining to marketing expenditures.
CMOs who understand financial and statistical analysis are putting themselves on a level playing field with their brethren in other corporate departments, because those CMOs are using the same measuring stick to prove effectiveness.
Measuring ROI effectively will help marketers add value to their organizations and attract their fair share of resources.

Basic ROI Calculation
The math is basic, but the components aren't always easy to figure out. Any solid ROI calculation should measure revenue generated by the marketing campaign, profit margin on the items sold, and marketing-related expenses. Yes, profit margin can be difficult for organizations to quantify because it incorporates the cost of operations, but it's a necessary ingredient to calculate ROI accurately.
Keep in mind that to be able to quantify revenue generated "by the marketing campaign," those campaigns need to have been designed to capture responses in the form of revenue from sales.
In its simplest form, the calculation looks like this:
ROI = Campaign Revenue X Profit Margin / Cost of Campaign
That simple ROI calculation is a solid metric for getting a quick "temperature check" on campaign performance. The basic calculation works for basic comparisons, such as "Campaign 1 is doing better than Campaign 2" or "we improved this month over last month."
That formula is also useful for measuring pilot marketing campaigns, since those efforts are often launched with one-time investment costs or temporary extraordinary expenses that wouldn't apply once project efficiencies are captured in a full-blown campaign.
Though that basic ROI calculation is a good starting point and it keeps things reasonably simple, it lacks several key enhancements. The calculation sometimes doesn't factor in all of the costs associated with the campaign, and it doesn't consider the impact of control groups. Both of those are required to evaluate the actual revenue generated by a campaign.

The Advanced Version
Marketing will need to take a more advanced approach to ROI calculation if it wants to play in the same ballpark as the other departments in your company—and if it wants to be evaluated by similar financial measures.
Advanced ROI calculations should include all of the costs associated with having a marketing department: salaries, benefits, office space, computers, software, Marketing's share of the bills (heat, electricity, etc.), plus all of the direct campaign costs. All of those costs added together would give you the "cost of campaign" figure in the formula.
Also important in advanced approaches to calculating ROI is to factor in dollars generated and purchases generated from both the target group and a control group. Doing so will help you answer important questions, such as whether the average purchase dollar amount was higher from the target group or the control group... or whether the target group purchased at a higher rate than the control group.
If the average number of purchases generated from the control group and the target group is the same, consider the difference in the average dollars generated. Similarly, if the average dollar amount spent is the same between both groups, the most important factor is the difference in average number of purchases generated.
First, determine the number of sales from the target group that would have taken place without the marketing campaign by measuring the average number of purchases generated in the control group. Now, multiply that number by the average purchase amount ($) from the control group. Subtract that number from the total target group revenue to determine accurate campaign revenue. The equation looks like this:
Campaign Revenue = Total Target Group Revenue – (Average Amount of Control Group Purchases X Number of Transactions That Would Have Occurred Anyway)
That calculation factors out the transactions that would have occurred without the new marketing campaign, leaving the incremental revenue gain from the higher average transaction amount of the target group. Taken further, such calculations could enable a marketer to compute statistical tests of significance for the target and control group differences.
* * *
Hopefully, this article will help you apply the tools to excavate the important numbers that improve marketing ROI, and, coincidentally, reveal ways that you can get closer to the customer.

Jim Bergeson is president and CEO of Bridgz Marketing Group in Minneapolis, a BI WORLDWIDE company and member of ICOM, the 50-nation network of independent marketing communications organizations.

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