LayerFive is a Customer Data Platform that makes it easy to analyze how effectively your ad dollars are being spent. In this first part of the LayerFive How-To series, we’ll be going over how to use the LayerFive dashboard to determine where to spend your next ad dollars in order to achieve the greatest ROAS, or return on ad spend.
After logging in to your account on app.layerfive.com, find and click on the “Customer Interaction Insight” tab under Marketing Performance from the navigation bar on the left. Scroll down to find the “Performance by Media Source, Campaign & Ads” data table.
This table puts all the important marketing performance metrics in one place, making it easy for you to analyze which media sources and campaigns are worth the money you’re spending on them.
A customer’s journey, from becoming aware of your brand to making a purchase, is a complicated path with many impressions and clicks. By default, the table displays data for Any Click attribution, which gives full credit of an order to each media source the customer interacted with before buying.
Some other options you can explore are First Click attribution, which only credits the first media source a customer interacted with on their journey; Last Click attribution, which only credits the last media source; and Equal Weight attribution, which equally divides credit for an order between each media source the customer interacted with. LayerFive specially features View Through attribution, which we’ll talk about more in the next video, linked in the description below.
You can also use the search function to sort through your media sources. Here, we’ll search “ads” to take a look at paid media sources only. The data tells us that Google Ads is providing a pretty good conversion rate and ROAS, and that Instagram Ads could potentially lead to more visits and is therefore worth considering spending a little more on.
We can dive deeper to see how campaigns are performing. This is helpful to understand if a particular campaign is performing really well and could use some extra budget. You can even filter to see which media source or campaigns are effective in bringing new customers. If a campaign or media source is bringing in more returning customers and your goal is to acquire new customers, then you may need to adjust your targeting.
Utilize this table for the easiest way to track marketing performance in real time and identify additional opportunities. Visit our website, www.layerfive.com, to learn more, and subscribe to our channel to keep up with more videos from our How-To series. Comment below with any tutorials you want to see in the future!
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