Are You Getting Enough Juice from Your Digital Advertising
Three critical questions to evaluate your program
In the 25 years since the launch of the first clickable web banner, the industry has continually reinvented itself as new technologies have become available. Digital marketing capabilities seem to evolve on a daily basis.
This is why it is important to continually optimize and measure your digital marketing to ensure that you are getting every ounce possible out of your budget: to squeeze every impression, click, visit, and conversion eventually leading to trips. Ultimately, the sweet spot lies where technology converges with strategy providing the ability to meld the two.
So, how do we leverage technology to implement a digital strategy, maximizing budget with the ability to measure for success? Well, that may be the secret sauce, but here are a few things to focus on.
Are you budgeting appropriately for digital, and are you maximizing that budget? How do you know?
Knowing how your spend should be allocated is paramount. Identify how many layers you are going through to get your digital ads placed. If each layer takes even a small cut of your budget before actually placing your digital ad, then there may be efficiencies that could be gained. Eliminating any “middle men” translates to increased digital media weight for your campaigns.
Understanding how your campaigns are performing is also important. Measure how they compare to overall industry averages and casino industry averages to assure that they are having the desired effect.
Follow current trends on how media is being consumed. With digital spend recently surpassing television spend, ensuring the right media mix for your property is key to optimizing your media budget.
Speaking of measurement, are you targeting and measuring your campaigns effectively?
There are several tactics that allow you to track conversion all the way back to on-property visits, such as geo retargeting, hotel bookings, ticket purchasing, etc.
IP targeting gives you the ability to segment your offers based on player data and deliver targeted messaging. Measuring lift in market segments by tracking back to player data relates directly to the campaign’s efficiency.
Leveraging Google Analytics data to measure not just digital but additional forms of media to ensure the effectiveness of overall marketing campaigns.
Utilizing segmentation methods, such as UTM codes, custom messaging and custom landing pages, for unique offers also allows for detailed measurement.
Ever wonder if your digital ads are really reaching the desired target? Third-party companies can help you determine if you really are!
Are you utilizing all effective forms of digital media to reach your guests?
Emerging and somewhat underutilized technologies, such as Over the Top TV or OTT, can be hugely effective in reaching an audience that is viewing their programming via streaming or on-demand platforms. Ads are non-skippable, ensuring content is viewed by the user, and it has increased tracking capabilities as compared to traditional broadcast media.
OTT is also effective in supplementing or leveraging broadcast in larger markets, or for properties that have a limited budget. And, it’s not only for Millennials, with over one-third of users falling between 45-69 years old, core casino-aged gamers are among the highest users. If you aren’t currently using OTT, then there is a significant broadcast segment that you may not be reaching.
Part of the success of a digital campaign lies in the ability to measure and adjust course quickly. At Catalyst we use player data to determine the effectiveness of our clients’ digital media as a kickoff to developing their digital media plan. This allows for a 360o view of their campaigns, targeting ability, measurement techniques, and budget efficiency. This assessment reveals what is working well and where there is room to squeeze a little more juice.
When evaluating your own digital program, be sure to ask the right questions and perform the right evaluation, as it goes beyond simple impressions and clicks. Did it drive trips? Did it increase revenue? Was it as cost-effective as it could be? Make sure that you’re getting the most out of your squeeze!