Checking the performance of your ads is vital for your business.
You will know how effective are the ads that you launched.
There are two primary issues faced by companies when it comes to online ads.
Getting people to click on your ads and converting them after clicking are the two most fundamental problems faced by businesses.
If your ads are struggling to perform at its peak, you need to know where to focus your efforts.
These two main hurdles are the things you need to focus on when analyzing the performance of your ads.
Your LinkedIn ads may face one or both of these challenges, so you have to know what to do.
How to Analyze the Performance of your LinkedIn Ads?
The best thing that you can do to analyze the performance of your LinkedIn ads is to go to Campaign Manager.
Aside from creating a campaign using a campaign manager, you can also use it to check the performance of existing ads.
It reports a wide range of statistics for every existing campaign that you have.
To improve your return of investment or ROI, use these data to learn the performance of your ads.
Here are some of the things that you can do to analyze the performance of your LinkedIn ads.
1. Choose an objective
In Campaign Manager, you can choose from the three objectives that your LinkedIn ad aims for.
The three goals are building brand awareness, driving consideration from prospects, and generating leads.
Brand awareness targets the upper part of the funnel model, which has the least impact among the three.
Lead generation is at the bottom, which has the most impact on the marketing objectives of ads.
2. Identify key metrics
From your chosen marketing objective, you need to know the critical metric for it.
To increase brand awareness, you should have more views, impressions, a higher click-through rate, and average engagement.
A view is one click on the ad link, while an impression is one person viewing your ad.
If you want to have more leads and conversions, focus on metrics that measure the number of downloads, sign-ups, and orders.
The number of conversions is the number of actions after clicking an ad.
The conversion rate is how often your LinkedIn ads result in a conversion.
You can also monitor the ad expenses divided by the conversions as well as ad expenses divided by the leads.
3. Set up conversion tracking and forms
You can determine your lead generation metrics with the help of conversion tracking and forms.
Conversion tracking measures the number of conversions, conversion rate, and cost per conversion.
Forms estimate the number of leads generated, and the cost per lead.
4. Evaluate ad performance
Access the overall metrics and data of your campaign from the Campaign Manager.
Focus on the metrics that align with your objectives. Set future goals to improve your current numbers and past performance.
How to Optimize the Performance of your LinkedIn Ads?
1. Optimize using demographics data
Download the demographics data from the Campaign Manager to know your target audience.
Know who engages most with your ads and who views them the most.
Do a retargeting after knowing your desired audience to optimize the performance of your LinkedIn ad.
2. Optimize using analytics
After accessing the performance analytics of your ad, get recommendations on bids, and budget.
Test different types of ad units that may have more impact on your target audience.
Adjust your ads throughout the optimization process.
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