Be honest, do you know if your investment in top of the funnel (awareness) has been increasing or decreasing in the last three months? Do you know if new users are impacting the conversion rate of your bottom of the funnel campaigns? Probably not. But don’t feel bad. Pareto estimates that almost 93% of online advertising companies don’t know these answers. To solve this and other problems, get to know Pareto Segments.
Pareto Segments Illustration
Simplicity is an art
The new feature is simple to configure and even more to use. It all starts with sorting your campaigns into tags. Let your imagination run free! Create as many custom segments as you like — there are no limits.
Strategy and aggregate data
It is practically impossible to find a high-performance digital company that does not monitor the aggregate data of multiple channels. It is common for companies to have entire business intelligence departments to handle databases and give them meaning — via insights or analysis. But why is it so strategic to monitor data from search, display, youtube, Facebook, Instagram, and other channels in one place? Two words: attribution model.
As complex as it is to check the performance impact between channels, the isolated monitoring of the data generates a short-sighted vision and ignores the constant interaction the user has with the media. Unifying data under categories means allowing interactions to be more easily perceived — which can generate historical strategic conclusions.
There are some examples of classifications that can change your strategic vision:
Tag your campaigns (across all channels) in stages of the funnel so that you can see, for example, how investing in the top of the funnel impacts the bottom’s conversion rate 🤔.
Tag your campaigns into products or services, so you can closely monitor your conversions and CPA. This information should be used to customize the goals of the campaigns, allowing product bidding — especially if you are using smart bidding or Pareto AI Bid Manager.
Tag your specific marketing campaigns (with start and end dates), allowing the data not to be merged. Besides, this would make it possible to see whether these actions had an impact on support campaigns (continuous) or not.
Tag your campaigns by type or format. Sounds silly? But it’s not. You will be able to compare, for example, campaigns with images against campaigns with videos — adding the data of all integrated channels. A conclusion in this can change your company’s asset planning.
Tag your campaigns across different channels to reflect any experiments you’d like to do. For example, you can change your communication in 2 ways, across all channels. Group the campaigns that have communication A in a given group. And do the same for the other. Thus, you will be able to do statistical experiments between channels, as you never thought you could. Some companies reported excellent results in communication experiments, duplicating all existing campaigns, and grouping them in their specific categories. However, it is worth mentioning that duplicating campaigns can generate internal competition, which is generally not recommended.
What’s to come?
Picture this: you have 78 campaigns classified as Top of the funnel, 37 as Middle, and 19 as Bottom. With that in mind, imagine that at 5:30 pm, your CMO asks you to reduce your top campaign investment by 25% — across all channels. What do you do? Export everything? Edit one by one? Soon, this will no longer be a problem! The new version of Pareto Segments will give you the possibility to edit budget and status by customized segment, giving you much more efficiency! And of course, we will use lots of statistics to generate even more results. Good, right?