What Does Revo’s New Media Insight Team Do?
*Spoiler alert!* It’s all about analytics and measurement
Addy Dam, the author of this post, is leading the Media Insight Team, a new function at Revo that was launched at the beginning of this year. After her first year at Revo as an account manager, Addy’s about to take on a whole new challenge and can’t wait to tell us all about it.
When it comes to Facebook advertising, the conventional belief in many parts of the world — Myanmar included — is that numbers such as likes, comments and shares are everything. In reality, there are more than just engagement number that should matter to businesses.
One important question we always ask our clients is “what is your marketing goal?” Is it gaining new fans, driving conversations, raising brand awareness or driving foot traffic? Sometimes our clients don’t know the answer to this, so we help them figure it out. But the key here is aligning marketing goals with actual business goals to optimize campaign performance and maximize return on investment.
Then why are analytics so important?
For many years, marketing has somewhat been a speculative venture. Ad campaign possesses no direct tracking mechanisms. Market research studies are rare and pricey. Collecting customer information is extremely manual and time-consuming.
But as digital advertising matures, we’ve entered an era where advertising comes with a large amount of data. However, when many Myanmar companies and brands easily spend thousands of dollars on digital advertising each month, they never end up learning how effective these adverts actually are.
The main obstacle that caused this barrier of understanding is that most companies and brands still lack the expertise to analyze data and derive actionable insights from the numbers. My new team — Revo’s Media Insight Team — is here to fill the void.
As soon as we start running a particular ad, my team monitors the performance on a daily basis. Once the campaign ends, we deep dive into the results and produce reports to show our clients the effectiveness of their campaigns. Here’s a more detailed process of how that works:
Step 1: Identifying marketing goals
We start with figuring out the most important metrics for businesses and build strategies that will help them reach those goals. For example, if our client is a FMCG brand that plans to enter Myanmar, we will design a brand awareness campaign to target audiences that are likely to remember the brand after seeing its ads on social media. These marketing goals can vary greatly for different brands, or for the same brand during different time periods.
Step 2: Monitoring tunes decision-making
While it is becoming commonly accepted that digital marketing can help businesses grow, we use data monitoring and evaluation to show how effective (or sometimes the opposite) their marketing effort may be. Through constant monitoring, we stop campaigns that underperform and increase budget for campaigns that are gaining promising results.
Step 3: Busting conventional beliefs with analytics
We pay close attention to all analytics in order to determine whether certain approaches are working better than others, and how we can put more effort towards the highest performing campaigns. Our client might believe they should spend the majority of their budget on generating clicks on their pages, but our analytics might show that a very small percentage of these clickers actually go through and purchase the products. So instead, we design a campaign that focuses on driving conversions.
As someone who’s obsessed with analytics and numbers, I see analytics as both art and science. By weaving together intricate details and finding reasons that explain both successes and failures, we hope to ensure every dollar our clients choose to spend is money well invested. If you are interested in learning more about my team, and how more detailed analytics can help your business, don’t hesitate to reach out to our business director at email@example.com.