I talk to businesses about their marketing, a lot. We talk about how they are holistically, and it’s interesting how often the same topic comes up without me raising it. The conversation turns to Metrics. The question is usually a version of “How do we know our results are good results?”
The trouble in answering this is it’s hard to use ‘national averages’ as my answer. In reality, all propositions, market demographics, timings and interactions vary the answer so much. But nobody wants to hear that.
Take banners as an example. The much lauded online visual commodity is shifting from a response mechanic to an awareness mechanic according to media owners; so don’t expect huge click-throughs because the average performance of banners is tiny. Instead use them for increasing awareness they say. For the marketeer however, rationalising the validity of a banner in the mix becomes harder to justify for just awareness.
But is that OK? Well I would say No, it isn’t!
You CAN use banners for click-throughs if they are targeted, positioned and created in the right way. We’ve been quoted a range of averages recently that range from 0.06 to 0.09% click throughs. So for every 10,000 times a banner appears, you’ll get up to 9 click throughs. You pay per thousand impacts so even with millions of them, it’s hard to justify the cost per lead.
Several factors can impact the click-through rate. For example:
- Audiences and targeting
- B2B or B2C – get it right
- Brand or non-branded
- A keyword’s place in the search funnel
- Ad copy’s creative messaging – CTA
- Type of offer
- Industry competitiveness
So should we forget banners or accept the small returns?
NEITHER. I say do them better. Stop being lazy. Engage. The content-rich one we did for Toro leafblowers recently got SEVEN times the ‘national average’ at 0.58% or 63 in 10,000. It was
engaging, interactive, creative, and full of information, right there in the banner. It was actually interesting. People wanted to click it!
And isn’t that the point? Well then let’s not forget it. No-one has to view advertising today, so we need to make them choose to.