Behavioral analytics, smart tracking and a focus on ROI helped Monobank drive results.
Fifteen (15) years ago we could launch a search ad and get $0.10 CPC and CTR or conversion rate of 10% or higher (mind-blown). Then everyone figured it out and the price went up, and the results went down. Same thing happened with banner ads. And guess what, the same thing is happening with Facebook ads.
The good news is that ad platforms understand this cycle and consumers, so they offer more options. Now marketers have much more opportunities to tell a story than just static display ads on websites and blue text in search engines.
We live in an era where consumers are really really distracted, and advertising to them gets expensive really quickly. But that doesn’t mean it’s not worth it, it just means we have to be smart in where we spend money.
For instance, if we are selling a new all-natural skin moisturizer to people with eczema, but we have a limited budget, we aren’t going to jump into Google Ads and Amazon Ads right away. It’s too competitive.
Instead we would start by creating a few heart-hitting stories with video, then running those ads across Facebook, Instagram, YouTube Pre-roll to begin building trust in the brand. Then we would add retargeting into the click-throughs across search, Facebook and Instagram to increase the chances of conversion.
After this campaign is kickin’, then maybe we add in some search and Amazon ads because people will now know the brand.
Paid media is a powerful way to engage new customers and re engage repeat buyer, but we have to understand all the options and be smart about the ones we are investing in.
There are a lot of ways we can spend advertising dollars. They are all valuable in one way or another, but not for every case and DEFINITELY if the videos, pictures, text or graphics don’t connect with the audience.
A lot of money can be wasted if the creative isn’t on point.
And the hardest part is that creative is so incredibly subjective. I like green, you like red. I like funny pictures, you like inspiring videos. It is literally impossible to make a great advertisement just by guessing, or even worse, making it look the way you want it to look.
Testing creative is the only way to make sure you have a fighting chance at winning your future customers attention, and eventually their dollars. Every business should be A/B testing their creative across any platform that they are spending money on.
We are experts at creating relevant, visual stories and testing it across paid platforms to engage your most valuable audiences.
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