All marketing teams are focused on efficiently allocating resources to generate the highest possible revenue from their advertising efforts. ROAS measures the revenue generated for every dollar spent on advertising, and is a key metric that all business stakeholders must monitor in order to ensure their business is growing and reaching revenue goals. There are 3 areas that marketers must optimize to continually improve ROAS:
Target Audience Optimization
Refining your audience targeting is critical for ensuring that your ads reach the most relevant people to increase the likelihood of conversion. In order to refine your audience, you must have a deep understanding of their demographics, interests, behaviors, and preferences. OnSpot’s analytics tools provide you with precise data on the “who” “what” and “when & where” of your ideal audience profile. We provide you with a clear picture of who your audience is and where they spend their time.
By leveraging location analytics, demographics, political data, and point-of-interest data, marketers can leverage a variety of data points to build high-quality audiences without ever relying on third-party cookies. Additionally, OnSpot’s integration capabilities allow marketers to utilize their own first-party data for targeting, further enhancing the effectiveness of their campaigns.
Ad Placement & Timing
Selecting the right platforms and channels to place your ads is essential. Analyze which platforms your target audience frequents and select your media channels accordingly. OnSpot provides you with the flexibility to utilize audience data across any channel, device or screen, including direct mail. Deploy media via the OnSpot Integrated DSP, or we offer direct integrations with over 100 major DSPs and social media platforms you are already using today. Utilize our reporting & analytics to understand what is performing well and optimize toward more conversions. Channels we support include:
- Programmatic Display (Mobile/Desktop Banners & Video)
- CTV/OTT
- Social Media
- Direct Mail
Analytics & Performance Tracking
You must regularly monitor and analyze the performance of your advertising campaigns using all relevant metrics such as CTR, Conversion Rate, and CPA to determine return on ad spend. These metrics allow you to identify trends, patterns, and areas for improvement to refine your strategies and maximize returns. With OnSpot, gain all of these valuable insights and more by bringing together reporting for multiple channels to reveal opportunities to optimize your next campaign. Here are the ways attribution can be measured with OnSpot when serving media on the Integrated DSP:
- Foot traffic
- Online visits
- Serving data – through the use of the OnSpot integrated DSP to directly correlate which audience members were served with an ad, and subsequently took the desired action
- Sales matchback – tying sales from your CRM directly back to the target audience
- Out-of-Home – tying exposed passers-by to foot traffic, online visits, or purchases
- Linear TV – identifying exposed households to foot traffic, online visits, or purchases
- Direct mail – tying mailed households to foot traffic, online visits, or purchases
Maximizing return on ad spend requires navigating complex challenges in today’s fragmented digital landscape. Between optimizing your audience targeting, ad delivery, and performance monitoring, marketers need comprehensive solutions to achieve their ROAS goals. By partnering with OnSpot and leveraging our innovative solutions and industry-leading data, marketers can unlock the full potential of their advertising campaigns. Speak with an OnSpot data expert today to learn more about how you can optimize your ROAS and drive success on your next campaign.
