There are many metrics which companies use to measure success. In modern business the concept of simply “making money” isn’t necessarily a good enough gage for how successful your business is, as some of the most successful and innovative companies in 2019 won’t turn a profit.
Because every business measures their success by their own methods, it results in a lot of confusion in what to focus on when advertising.
Brand awareness is one focus which probably causes the most confusion.
Do you measure it by how many people have been reached by an advert? How many times the advert was seen? Or the amount of engagement it had?
In most cases, the default answer is all of the above. As a result, advertising agencies are encouraged to focus on maximising these metrics’ numbers as opposed to ensuring that the advert is shown to the most relevant demographic. Which is counterintuitive.
Additionally, the accuracy of these metrics is debatable, especially following Facebook’s controversy last year regarding “faking video views”.
Because of this, never rely solely on one metric for measuring the success of your campaign, and try to find a way of measuring its success that is unique for your company. Each advertising campaign you launch should have its own goal with its own gage of success, and these should then accumulate and contribute towards your company’s overall marketing goals.
There’s nothing wrong with looking at metrics to help recognise change or better understand your advertising, but it’s unwise to only focus on the metrics and not the advertising’s overall impact on your marketing.