In 2021, you would think that it is easy to “set-it-and-forget-it” (thanks Ron Popeil) after launching a paid media campaign. After all, it seems that all the hard work of designing creative and writing copy, setting bids and optimizing your targeting–you would think that would be enjoy… well you would be wrong. This is one of the most expensive mistakes that is made when running a paid advertising campaign.
At GMLV, we believe in the scientific method which means that we do the research, create a hypothesis (plan), test/run plan, analyze the data, report conclusions and then use those learnings to inform next steps.
So here are three things is an outline of what we do when optimizing paid media plans, in order: Bids, Targeting, and Creative
The first thing that you want to optimize is your bidding. GMLV, monitors ad performance to ensure that they are working correctly and spending the budget accordingly. This way we can learn what the maximum bid is restricting your campaign from being served as frequently, or maybe you are consistently not spending your daily budget.
GMLV will adjust and optimize based on the data and any other signals to ensure the bidding strategy are working effectively.
When starting a paid media campaigns, it is important to remember that the targeting probably will not 100% correct at launch. Even if you have been running ads for years, there is still likely an opportunity to refine your targeting or even explore new tactics. When it comes to targeting, GMLV recommends targeting/casting a wider net when you start to target and then it can be refined further as more data is available.
While this is the last step, most people want to change this first. Once the data shows that you are reaching your target with your ads, you can refine your creative to make your ads even more relevant to that specific audience. GMLV looks at process with an experimental mindset. This informs us which creative options perform best.
When GMLV is making any optimizations to your campaigns, we only make one change at a time. Reducing the variables will provides us with better and actionable data.
To get the maximum ROI for your paid media, there needs be someone optimizing your campaigns to ensure that they are working effectively. Contact GMLV with any questions and to see if we can help you with your paid media campaigns, firstname.lastname@example.org.