As a Digital Marketer, you must be aware of few terms that helpful understand more about campaign
In Programmatic Advertising, On Buyer side of ecosystem, these Objectives will help Advertisers or Media Agencies or other Ad Inventory Buyer for better understanding what exactly they can decide for their campaign goals.
First thing you must know what is Business Objective:
This is high level goal of any company and what they wants to achieve overall
Business objective can be Market share, Profits, Revenue, Volume of products etc
Example 1: A companies business objective is to grow the percent of the business total sales within the industry
Example 2: A companies business objective is to increase the number of products sold, no. of units that sold, Number of leads or capacity of a business
Example 3: In terms of Revenue, Business objective is to grow the total amount of money that the business brings in
Example 4: Other business objective is to make profits which can be achieved by growing the amount of revenue the business makes after removing all the costs incurred
This is more in detailed level when compared with Business Objectives
In any Company’s business, there may many or few departments which all supports Business Objectives
Examples for Marketing Objectives may be Number of Online Sales, Customer Retention etc
These marketing Objectives connects to Business Objectives to solutions
Once can relate it to Purchase funnel and thier stages
These marketing objectives can be combines
Awareness : It is a degree of recognition or recall of a brand or product by consumers
Consideration : This objective is all about Interactions that indicate a user intends to engage further with your Brand or Product with a potential Intent to Purchase. Here interactions are not conversions.
Leads : Web app-based Conversions events that may not result in immediate revenue but are associated with potential future revenue
Sales Online : Web or App based conversion events ( or proxies for them ) that result in immediate revenue transacted online and potentiall it is future revenue as well
App Install : It is Marketing Objective of conversions events where a user downloads a mobile application on their phone
Offline sales: Conversions or transaction that takes place in a physical location
This is more in detailed level when compared with Marketing Objectives
In Order to achieve the marketing objective, one needs to understand about Media Objectives now.
It can be defined as the medium through which marketing objectives are achieved.
Examples are Reach, Conversions, Engagement, Frequency etc
This is the detailed level to achieve the Business Objectives
Now in order to measure the success or failure of Media Objectives, we need to have Key Performance Indicators which are known as KPIs
Examples of Campaign Objectives are CPM, CPC, CPA, VTR etc
From below picture understand how to align your KPIs to your Business Objectives and Marketing Objectives
Hope this helps to understand above Objectives at each level of Business.
Practice what you learned ….
Take any example of any campaign and business.
Try to understand real-time scenario of it and write it under comment section about what contains at each level of objectives