topy // 5 Ways to Optimize Your Ad Campaigns in 2023
When used to its full potential, display advertising can be a powerful tool for marketers.
Setting up a display ad campaign for success is more than just preparing and launching it. Ad campaign optimization is a practice that helps to set the campaign on the right track. This is basically running experiments, analysing performance data, and looking for improvement opportunities.
Paid advertising will face challenges in 2023 due to the economic turmoil. Campaign optimization is crucial. These expert tips will help you optimize your display ads for maximum performance and maximize your ROI in the coming year.
1. You should be focusing more on personalization and creative production
Many voices are claiming that is the creative and we are about to join them. Creative optimization offers greater brand recognition and engagement.
The demand from consumers for personalized experiences has increased. Advertisers must be able to create relevant ads on a large scale, while still managing the workload.
Creative automation is the best way to achieve this. You can create personalized assets instantly with the help of versioning tools and data-fed ads design.
Dynamic ads are a great way to increase conversions and go beyond the ordinary. Some elements of dynamic ads change based on data about the viewer (e.g. You can ensure that you deliver the right message at right time by changing the elements of your ad copy depending upon where you are located.
No matter what type of ads you run or the medium used to advertise, it is important that all creatives are on-brand. It ensures that users experience a familiar, authentic experience every time they see your ads. This also builds brand trust.
Optimizing ads for different devices is another important aspect. If your target audience is mobile, you should use the best-performing mobile banner sizes for your ads. To draw attention, rich media and animated ads are also recommended.
2. Different approaches to targeting are possible
The general rule of thumb is that the more targeted your ads are, the more relevant they will be. Engaging with your target audience in a variety of targeting methods can increase engagement and conversion rates. Hyper-targeting has its downsides, however. It can lead to higher costs per Click.
Another strategy is to personalize your ads so that you are confident in their ability to drive conversions. This will allow you to target a wider audience. You’ll be able cast a wider net, and use your budget more effectively by relying on the creativity’s power. The creative is the new targeting.
Whatever approach you choose to use, it is important that you monitor the performance of your target audience(s), throughout the campaign. You can put an end to any audience that isn’t performing as expected, and then add new audiences that will help you get your ads in front the right people.
You should be open to trying different targeting options in 2023. There is no one-size-fits all formula for creating an audience that delivers high performance. You will only know which options work best for your campaign if you explore them all.
3. To achieve campaign goals, refine campaign budget allocation
Don’t expect to see the same results in 2023 with a different campaign budget. The Google Ads cost-per-lead has increased in 91% of industries with an average 19%. As a paid advertising specialist, it is important to set realistic expectations for clients and managers.
It is important to use your budget effectively to achieve your campaign goals, regardless of whether you are trying to increase sales, generate leads, increase traffic to your website, or boost brand awareness.
Choose automated bidding strategies to set a daily budget for your campaign. Then multiply that number by 30.4 to get a rough idea of your monthly budget. If you see an increase in conversions at a high cost per conversion, then you can increase your budget.
Alternativly, you could reduce your budget if your cost per convert is too high. However, you should also consider other optimization strategies such as changing elements on the landing page or creative and eliminating underperforming placements.
Campaign performance can be affected by sudden or extreme budget changes. This is why it is recommended to only adjust 10% per time. You should make gradual budget cuts if you have to. Similar applies to increases.
Always set aside money for A/B testing when allocating funds. This can greatly improve the performance of your campaign.
4. Even if your campaign is performing well, you can still run A/B tests
No matter how targeted your creatives or your targeting, you cannot predict the reaction of your audience to your campaign.
A/B testing is a powerful tool that you have at your disposal. You can use it to identify areas that could be improved in the case of campaigns that are not performing well. This is usually done by testing two different ad variants or two landing pages. You’ll be able to see which ad variation is most effective in driving engagement, and what resonates best with your audience.
These experiments should be a continuous practice and not something that you only do when you aren’t getting the results you want. You can always improve your results by running A/B tests, even if you are satisfied with them. You can discover landing page variations or creative ways to improve your current performance by constantly experimenting.
To keep track of the impact on performance, A/B testing should only be done with one element. You can run two ads with one change, such as ad copy, images, illustrations, call-to-action buttons, colors or any other element. This is also true for landing pages.
Similar to the landing page, you should test either different versions of the creative or the landing pages, but not both at once. A/B testing without an optimized landing page is futile.
5. To identify improvement opportunities, review performance data regularly
Data is your best friend in paid advertising. Data is your guide to keep you on the right path. It is the compass that will ensure you don’t lose sight of your goals.
You don’t need metaphors to get the most out of your analytics if you want to maximize your campaign’s ROI.
You should take the time to determine the best KPIs you want to track from the start. You must ensure they are aligned with your campaign goals. Otherwise, you’ll make wrong optimizations that will lead to you moving away from your objectives instead of closer to them.
Regularly review campaign reports and interpret data to determine what adjustments could be made to improve performance. There are many tools that can be used to compile reports into easily digestible dashboards. This will ensure you don’t get lost in all the data.
Campaign optimization is an ongoing process. It’s not enough just to look at campaign performance once. It is recommended that you review the reports at least weekly in order to maintain control.
Important side note: Don’t rush to make changes after the first week. Even though the campaign performance may appear weak, it is important not to be too quick. Google Ads takes seven days to learn the algorithm, so allow it time to adjust before you make any changes.
Final thoughts
It takes a lot of effort to optimize display ads campaigns. However, tools can make it easier by reducing repetitive tasks that are too time-consuming. Creatopy provides creative automation, endless possibilities for ad personalized and ad serving across multiple ad networks. Performance tracking is also available. It empowers advertisers. Sorted and Brandfinity have used it to speed up the creation of ad assets and keep their brand consistent across all media. You can also A/B-test more efficiently and increase ad performance. Explore the platform to discover all of its functions.
5 ways you can optimize your advertising campaigns in 2023 appeared originally on MarTech.