Data visualization software plays an integral role in effectively managing digital media campaigns. If set up correctly, these tools provide brands with deeper granularity and clarity about performance, leading to quicker, more effective optimizations and increased ROI.
At McCann Minneapolis, we first utilize software to combine, consolidate, and format reports from multiple data streams into one document. Once data has been organized and formatted, we transfer the data over to a data visualization tool.
We then format the data into charts, graphs and tables to better illustrate what is happening throughout a campaign. Internally, these tools help expose optimization opportunities, and allow us to see the results from those optimizations. Each chart can be easily updated to change which metrics are being viewed within seconds, allowing us to gather data and make optimizations in real-time.
The chart below is a sample of a graph pulled from one of these tools. This example measures how creative versioning affects overall site actions (conversions). The chart shows the three different creative messages represented as the yellow, blue, and red bubbles, and how each message performed.
The vertical axis represents cost efficiency, while the horizontal axis shows the success (measured in volume of conversions) of each message. The messages represented by the red and blue bubbles have contributed to 3x more conversions compared the message represented by the yellow bubble. Those two bubbles are showing 40% more efficiency than the yellow bubble. With this knowledge, our strategy team was able to optimize the campaign by shifting the remaining budget towards the creative messaging represented by the blue and red bubbles. Over time, total spend increased 95% generating 120% more impressions, and resulting in an 11% decrease in cost per conversion. The results can be viewed in the chart below.
All together, data analytics and visual software continues to reap benefits for McCann Minneapolis and our clients. The ability to view data in different ways allows us to make more informed decisions with our digital media campaigns. Having the tools to analyze what’s working and what’s not helps us focus investments on the tactics that drive the most return, while continually surpassing our clients’ KPIs.