The world of digital marketing could get very complicated, we know! There are so many metrics that can be measured to understand how your digital campaigns are working – clicks, CTRs, CPCs, Conversion rates, CIRs, … we’re pretty sure every digital marketer has devised his own set of metrics by now to make sense of how well his campaigns are doing.
But at the end of the day, what a marketer really wants to know are the answers to some really basic questions like these:
- Do young moms buy more phones from my portal than college going men?
- Do Samsung phones sell better than Apple?
- Should I say “Compare mobile phone prices” or “30% off” on my ad messaging?
- Are phones really worth my ad spend? Should I advertise cameras instead?
So what we have on offer for you is a really simple tool that can answer all these questions for you and more. This tool can also give you that perfect combination of the right audience for his products along with the right messaging that would get the best returns for your investments.
We call it Sokrati Product Merchandising.
Sokrati Product Merchandising keeps reporting simple: it shows you how much are you spending(Ad Spend) and it shows you how much returns are you making over your ad spend(CIR) with respect to 4 principal attributes – the product being sold, the product’s brand, the targeted audience (persona) and the targeted buyer intent for the product (ad-group). So basically, Sokrati Product Merchandising helps you know what combinations of personas, products, brands are doing well and what percentage of marketing spend goes towards those.
By comparing various such combinations with respect to the spend and CIR values, the marketer can identify that perfect combination of product, brand, messaging and persona that is most beneficial for his business.
Pivoting helps the digital marketer view the performance of a campaign in terms of a particular ad attribute. By pivoting the report by persona, the marketer can see how beneficial a particular audience group is with respect to another. Similarly, by pivoting by brand, the marketer can say if a Samsung device makes him more money than a Nokia device. The same can be said for products and ad groups.
Consider an e-commerce site that sells electronic items like phones, tablets, cameras, etc of different brands like Samsung, Nokia, HTC, etc. Now the marketer for these sites must have identified different audience groups that are likely to buy these devices online, say Choosy Young Male and Just Married Female. He has different ad groups developed for different consumer intents like – “audiences that want to compare prices” or “audiences that just want to buy a Samsung Grand without any hassle”.
Once the campaigns start running, the Sokrati Product Merchandising feature allows the marketer to choose the reporting structure of his liking on a real-time basis. If he wants to find out if the persona Just Married Females is really doing better than that Choosy Young Males, he would pivot his report by persona. If he wants to see if its really worth it to advertise HTC phones instead of Samsung, he would pivot his report by brand.
Another advantage the report gives you is that once you pivot it by one attribute, it still provides you with a holistic view of the campaign. That is, if you have pivoted the report by the brand Nokia for example, you can see which audiences are you targeting your Nokia ads on, what Nokia products are you advertising and what kind of messaging are you giving out for your Nokia ads. Similar for every other pivoting structure. This kind of view gives you a deep-dive of the campaign performance from whichever angle you would like to look at it.