4 Proven Tips for Increasing CTR and ROI Using Location Intelligence Data Analytics

Proven Tips for Increasing CTR and ROI Using Location Intelligence Data Analytics

In today’s fast-paced world it becomes increasingly harder to reach your potential customers in a sea of digital marketing tactics. You are providing your audience with information you assume is relevant, but is it? Is your message standing out? Or getting lost because it doesn’t quite resonate with your target audience.

Location intelligence naturally increases the CTR and ROI of digital advertising campaigns because it allows companies to create hyper-relevant ads and deliver them to a custom audience they know will be interested in those advertisements.

Location intelligence campaigns regularly outperform traditional advertising, and even digital advertisements based on online behavior because they’re based on real-world actions. Consider how many websites your audience visits in a day. Are they interested in every website? Probably not. But if your audience makes the effort to physically travel to a location and spend time there, they’re displaying a much higher level of interest.

However, there are still several techniques you can use to improve your campaign’s CTR and ROI beyond simply using location data intelligence. Depending on industry, a company’s average click-through rate (CTR) may range anywhere from 1.5 – 3.5 percent. However, a higher CTR offers many benefits to an organization: in increased conversions, sales and overall revenues; as well as a better quality score for platforms like Google and Facebook.

Improving your CTR means that marketing and advertising efforts are working and your business is more likely to see a higher ROI from your campaign. The right information is being disseminated to the right audience, at the right time, to get the customer to interact with the business and make a purchase.

TIP #1. FOCUS ON THE ACCURACY OF YOUR AUDIENCE TARGETING AND SEGMENTATION METHODS.

A recent study found that 71 percent of consumers prefer ads tailored to personalized interests and shopping habits, while 75 percent prefer fewer ads that are aligned to their needs and interests.

To improve your CTR, don’t just target your campaign, make it hyper-targeted. To do that, you could work with your advertising audience provider to create a custom audience, or even break your campaign down into smaller segments, targeting consumers with ever-more personalized ads based on their interests using competitive intelligence tools.

TIP #2. TEST MULTIPLE AD CREATIVES.

Even with hyper-targeted ads, it’s unlikely that you’ll have a mega-successful campaign right away. Always test multiple ads with different designs and copy that speaks to your audience’s pain points and the value they’ll receive from your business. By testing different versions of your ads, you can enable accurate advertising attribution, and measure what resonates with buyers and what doesn’t.

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TIP #3. OPTIMIZE REGULARLY.

Don’t just create your campaign and let it sit. Monitor it closely and iterate on your ad design, copy, and offers based on performance. For example, if your campaign isn’t performing well after two weeks, pause it and take a deeper look into the metrics. Is your campaign underperforming, or is it just one ad? Pull out what’s working and what isn’t, then tweak your ads to make them more successful.

Remember that you can optimize your campaign even if your ads are performing well. Don’t make sweeping changes, but adjust your copy to speak more to the pain and value points that are resonating with your buyers to improve CTR even further.

TIP #4. CONNECT DIGITAL ADVERTISEMENTS TO FOOT TRAFFIC AND SALES.

This is less about increasing your CTR and ROI and more about proving it to your boss and business leaders.

Since foot traffic data is a critical component used to identify and track a consumer’s real-world behavior, businesses can use it to quantify the effect of advertising on in-store visits. The ability to accurately attribute customer behaviors to real-world activities, and connect the dots from online exposure to offline behavior, gives marketing a competitive advantage with a quantifiable measure of advertising effectiveness.

A location intelligence company can help businesses with foot traffic attribution by recording consumer behaviors online and offline, allowing you to track the users who see your ads and determine if they visited a store location. You can then use that data to evaluate foot traffic before, during, and after advertising campaigns to see how effective your campaign was.

So, make the most of your digital advertising dollars and deliver information you know your customers want and are interested in. A comprehensive location analytics strategy is proven to increase CTR and ROI and will improve your overall marketing initiatives and digital customer conversions.

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