ROI or Return On Investment is the real outcome of your online advertising campaigns. We usually measure ROI by the campaign’s objective whether it’s about getting sales or engagement or any other goal.
Online campaigns must have a clear objective like Brand awareness, increasing sales, or releasing a new product.
So, you have to set the budget objective before taking it to action so that you can expect results and evaluate ROI right after finishing the campaign.
As mentioned before, measuring ROI depends on the campaign objective, targeted audience, and segmentation. Every segment has different interests, behaviors, and perspectives you should consider in your campaigns.
For example; you created a brand awareness campaign targets middle-income audience, it had ROI of 1000 actions for every $100 whether it was calls, website visits, or engagement.
That doesn’t mean if you repeat the same campaign with a different audience, it will have the same results!
Every consumer has behavior and interests that vary from others, and also competitors work hard to get their attention just like you.
All businessmen have a clear budget for online ads with a clear objective. And you should do the same and define what exactly you want from the campaign.
So, how could you set a budget?
After defining campaign objective you should measure how much it costs, and you can do that by either way;
1- Through similar advertising campaigns you did before to estimate a similar number to spend.
2- Through testing the market and creating a short-term campaign which helps you define how much money you need.
1- Don’t overestimate objectives on the estimated budget.
2- Study the market well before you get started.
3- Define your customers’ interests and how to talk to them.
4- Long term ads are the best.
5- Creating ads without research and study could bring you unexpected results whether good or bad ones, and it will harm your business.
6- It’s necessary to do surveys about new products you released and analyze results after finishing the campaign.
7- Count on a professional team in advertising will get your ads 10X times better results.
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