Us marketers need to be smart about how we’re investing our money because budgets are always smaller than we’d like. In particular, we need to make sure that we drive our media budget as far as possible by reducing wastage on under-performing channels. Too often, marketers wait until the conclusion of a campaign to analyse performance. In doing so, they gain insights on how to optimise future campaigns but can miss out on valuable opportunities to make the campaign they’re already running as successful and cost-effective as it can be.
Real-time media performance tracking and analysis doesn’t have to be complicated. UTMs are a valuable and often overlooked tool enabling you to feed valuable performance data directly into the Peazie Platform.
‘UTM’ stands for ‘Urchin Tracking Module’ (I know, not a name that gives you a lot of information). Essentially they are extended versions of the campaign URL generated for each digital media source used to drive traffic to the microsite.
When you link media to the microsite via its respective UTM and a user clicks on that link, they are taken to the normal microsite landing page, but the Peazie Platform records that they came from that specific source (eg. Website tile, Facebook post, etc). Therefore you can track visitors, entries, and conversion rates in real-time for every digital channel you use to drive traffic to the microsite (cool, right?).
PLUS – You can calculate an average Cost per Entry for each individual channel that you’ve tracked because you have access to the number of entries arriving from each one, allowing you to benchmark and measure financial performance as you go.
… The list goes on.
We’re glad you asked! If UTMs are used across all digital links to the microsite, because we can track the traffic and entries from them in the back-end of the Peazie Platform, you’re able to easily measure and manage your media performance in real-time. As a result, you can quickly identify channels that are driving poor results and divert spend to other, higher-performing channels which will then make your media budget work more efficiently.
Looking at the above example, we can see that ‘facebook-single-ad’ (in green) is the most effective Facebook source in terms of driving a high volume of visitors and entries (and subsequently a high conversion rate). Based on this, you may want to divert spend from a lesser-performing source to that one.
We know what you may be thinking – “but I don’t know how to put together those links! What do I do?” Don’t worry, we’ll take care of generating the links for you based on the media you’re planning on running. All you need to worry about is making sure that you use a different UTM on each digital link to the microsite. What’s most important to know is how they can be valuable for you and your brand.