Insight: - "The capacity to gain an accurate and deep understanding of someone or something."
Welcome to part 2 of our series on online advertising. In this second blog, we look at insight and what an important element of advertising it is. Insight in advertising is seen as a huge advantage of modern day advertising.
We all strive for more insight in our lives, working out why things have gone a certain way, a certain decision has been made and looking to understand things fully. This is also true in relation of social media and advertising. The modern world strives for insight and analysis into everything we do and think.
Online advertising provides you with endless insight allowing you to become a more effective marketer. Marketers went from having no data 20 years to more data than we know what to do with. Online advertising has helped solve this problem because of the visibility and access to data and of course reminds us of the famous line from John Wanamaker:
Half the money I spend on advertising is wasted; the trouble is I don’t know which half.
With online advertising you begin to get an idea of where your traffic is coming from and who is clicking on the banners or social media posts. This is the first major advantage of online advertising, it provides us with incredible insight and a stronger knowledge base than ever before.
Therefore, this makes online advertising unique. Running a campaign online provides us with the chance to show activity throughout the entire online consumer journey. Common activities include sales, newsletter sign-ups, the number of times an advert is displayed (ad impressions), the number of times people click on an advert to visit a microsite or landing page (click through), the number of times people have interacted with an advert, sign-ups and how much they have interacted on social media.
Although having more knowledge is not always beneficial, when we are looking to market our brand or product we want as much knowledge as possible. So therefore having access to a range of data and information about our campaigns is a fantastic improvement on marketing in the past and gives online advertising a huge advantage.
Thanks for reading.
Part 1 Here.
Part 3. Targeting.