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How can you evaluate advertising metrics with emerging tools?

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Advertising is a dynamic and competitive field that requires constant measurement and improvement. But how can you evaluate the effectiveness of your campaigns and optimize your strategies with the latest tools and technologies? In this article, we will explore some of the emerging tools that can help you track and analyze your advertising metrics, such as artificial intelligence, attribution modeling, and data visualization.

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Shakhboz Uktamov

That Amazon Creative Guy | Transforming D2C Brands on Amazon with tempting content??
Syed Zurriyat Adil

SZADIL | Your Partner in Advertising Success | Mastering All Advertising Platforms
Jason Landro

Co-CEO @Nectar, a Digital Marketing Agency Scaling Brands Online

1 Artificial intelligence

Artificial intelligence (AI) is a broad term that refers to the ability of machines to perform tasks that normally require human intelligence, such as learning, reasoning, and decision making. AI can help you evaluate your advertising metrics by providing insights, predictions, and recommendations based on large and complex data sets. For example, you can use AI to segment your audience, personalize your messages, optimize your bidding, and test your creatives.

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Danilo Tauro, PhD

General Manager at Uber Eats Advertising | Advisor | Investor | Author | P&G Alum | ex-Product at Amazon Ads | AdAge & AMA 40 under 40 | LinkedIn Top Voice
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One thought: while AI is very trendy right now (for many good reasons), at times the term is over used. In this case, AI can run the analytics, but key improvements of advertising metrics should come from the new data available and stitched together. Advertisers have access to new, useful data that help understand the impact of their advertising investments, across multiple dimensions. Examples: sales online (DTC, eRetailers) and offline (loyalty programs, credit cards, etc.), as well as foot traffic, website traffic, location insights, attention metrics, and so on. Advertisers can correlate media to outcomes, define the key drivers and optimize in a more focused way.

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2 Attribution modeling

Attribution modeling is a method of assigning credit or value to different touchpoints along the customer journey, such as clicks, impressions, or conversions. Attribution modeling can help you evaluate your advertising metrics by showing you how each channel, campaign, or ad contributes to your goals and ROI. For example, you can use attribution modeling to compare different scenarios, such as last-click, first-click, linear, or time-decay, and choose the one that best reflects your strategy and customer behavior.

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Shakhboz Uktamov

That Amazon Creative Guy | Transforming D2C Brands on Amazon with tempting content??
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Evaluating advertising metrics with emerging tools like attribution modeling is crucial for understanding the effectiveness of e-commerce marketing campaigns. Attribution modeling helps allocate credit to different touchpoints in the customer journey, allowing to optimize advertising spend and strategies. Google Analytics for Example offers multi-touch attribution models that integrate data from various marketing channels. This includes organic search, paid search, social media, email, and more.

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3 Data visualization

Data visualization is a technique of presenting data in a graphical or visual form, such as charts, graphs, maps, or dashboards. Data visualization can help you evaluate your advertising metrics by making them easier to understand, communicate, and act on. For example, you can use data visualization to monitor your key performance indicators, identify trends and patterns, spot outliers and anomalies, and share your findings with your stakeholders.

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4 Emerging tools

There are many emerging tools that can help you evaluate your advertising metrics with AI, attribution modeling, and data visualization. For example, Google Analytics 4 provides more advanced and integrated features, such as cross-device and cross-platform measurement, predictive modeling, and data-driven attribution. Facebook Attribution is a free tool from Facebook that allows you to measure the impact of your Facebook ads and other online and offline channels on your conversions. Tableau is a leading data visualization software that enables you to create interactive and engaging dashboards and reports from various data sources. Additionally, Power BI is a business intelligence tool from Microsoft that allows you to connect, analyze, and visualize data from multiple sources with intuitive visuals and dashboards.

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Syed Zurriyat Adil

SZADIL | Your Partner in Advertising Success | Mastering All Advertising Platforms
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Alternative to power bi is looker studio, it helps in data visualization and gives you a quick glance of all your metrics. With the help of Ai integration, you can do quick trend analysis as well.

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5 Best practices

Evaluating your advertising metrics with emerging tools effectively requires following some best practices. Firstly, you should define your objectives and key performance indicators (KPIs) clearly and align them with your business goals and strategy. Secondly, you should choose the right tools and platforms that suit your needs, budget, and data sources, and integrate them seamlessly. Thirdly, experiment with different AI models, attribution models, and data visualization techniques to test their accuracy and validity. Additionally, monitoring and analyzing your metrics regularly and consistently can help optimize your campaigns and improve your results. Lastly, it is important to share your insights and learnings with your team and stakeholders, while also soliciting feedback and suggestions.

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6 Challenges and opportunities

Evaluating your advertising metrics with emerging tools can present some challenges and opportunities. To ensure data quality and privacy, you must guarantee accuracy, reliability, and security, while adhering to regulations and ethical standards such as GDPR or CCPA. Having the skills and resources to use the tools effectively and efficiently is necessary to stay up-to-date with the latest developments and trends. Additionally, you need to leverage these tools to create innovative solutions that differentiate your business from competitors and provide value to customers.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Jason Landro

Co-CEO @Nectar, a Digital Marketing Agency Scaling Brands Online
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A tool is valuable only if it streamlines your operations so you spend less time implementing or executing tasks or provide insights by marrying data sets. Tools are trendy right now with the prominence of AI, but each tool has to provide utility.

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Wambui Kinuthia

Expert/Private Lender / Serial Entrepreneur/Fintech/ 2x LinkedIn Top voice / Speaker
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In my experience it’s also helpful to get feedback from others. Ask other marketers who are using the same tool for their feedback. This can help you to get a more comprehensive understanding of the tool's capabilities and limitations.This will cut down ad costs .

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How can you evaluate advertising metrics with emerging tools?

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3

4

5

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1 Artificial intelligence

2 Attribution modeling

3 Data visualization

4 Emerging tools

5 Best practices

6 Challenges and opportunities

7 Here’s what else to consider

Advertising

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How can you evaluate advertising metrics with emerging tools?

1

2

3

4

5

6

7

1 Artificial intelligence

2 Attribution modeling

3 Data visualization

4 Emerging tools

5 Best practices

6 Challenges and opportunities

7 Here’s what else to consider

Advertising

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