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Course 5 – Measure and Optimize Social Media Marketing Campaigns

Week 3: Optimize Your Ad Campaigns

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TABLE OF CONTENT

In the third week, you’ll learn to optimize advertising using A/B testing and you’ll learn how attribution can help you to evaluate and optimize your advertising strategy across different platforms.

Learning Objectives

  • Understand how to assess advertising effectiveness across channels
  • Explain how to implement an A/B test to optimize your campaign

PRACTICE QUIZ: OPTIMIZE WITHIN A CAMPAIGN WITH A/B TESTING

1. In which of the following scenarios would an A/B test be helpful? (Select all that apply)

  • If you want to know whether your advertising was effective at increasing sales
  • If you have two different images you could use in your ads and you want to know which image would generate most results (CORRECT)
  • If you want to optimize the copy (the text) in your ad (CORRECT)
  • If you would like to know which audience group your ad performs best in (CORRECT)

That’s correct! An A/B test can help you determine which image delivers best results.

That’s correct! By conducting an A/B test where you vary only the text in your ad you can understand whether a different version of the text works better and thus optimize the copy.

That’s correct! An A/B test can help you understand whether target audience A or B works better for your ad.

2. The results of an A/B test on the Facebook platform include which of the following 2 elements?

  • The number of results from version A and version B of the ad and the portion of the budget that was spent on each ad
  • The winner of the test (version A or version B) and the confidence level for the test (CORRECT)
  • The increase in brand awareness as a result of seeing your ad and the confidence level for the test
  • The incremental lift of your ad compared to the control group and the winner of the test

That’s correct! Those are the two most important parts of the test results.

3. Which of the following is true when setting up an A/B test in Facebook?

  • There are two control groups
  • The test group receives a treatment and the control group does not
  • There is no control group (CORRECT)
  • Facebook duplicates your ads and changes several variables

That is correct! In an A/B test, your target audience will see either the A or the B version of your ad, but there is no control group (which would be a group that does not get to see any version of your ad).

4. What does the confidence level of an A/B test tell you?

  • It tells you what the chance is of getting the same winner if you ran this test again. (CORRECT)
  • It tells you how confident you can be that people were randomly assigned to the A and the B group
  • It tells you how confident you can be that your advertising was effective.
  • It tells you how likely it is that you can further improve your ad.

That is correct! In an A/B test, the confidence level gives you the percentage chance that you will get the same results if you run the same test again.

5. There are different variables you can test in an A/B test, how many variables should you vary in one test?

  • Just one per test (CORRECT)
  • Two per test
  • As many as you like

That is correct! By only varying one variable at a time, you can attribute the difference you see in results to the variable you changed.

6. What does the confidence level in an A/B test tell you?

  • The percent chance you will find the same winner if you ran the same test again (CORRECT)
  • The % difference in performance between the winner and the loser
  • The % of times the B version won over the A version in the test

That is correct.  The confidence level tells you how confident you can be in your test and how likely you are to find the same results if you repeat the test with the same settings.

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QUIZ: OPTIMIZE YOUR AD CAMPAIGNS

1. Imagine you work in the marketing department of a large clothing retailer. You want to run a marketing mix modeling study. Which of the following statements regarding the benefits of conducting this study are true? (Select all that apply)

  • Is solely used to determine on which platform your advertisement performed best.
  • It can help you analyze last year’s data to understand what worked. (CORRECT)
  • It can predict what will work in the future for your company. (CORRECT)
  • It can help plan how to best spend your money next year to improve results. (CORRECT)

Correct! When running a marketing mix modeling study, you’ll collect data related to any previous marketing actions and look at data on how much you spent and what results you got.

Correct! After analyzing the data, you’ll have a report that tells you what the Return on Investment was for each one of the channels you used and how much each channel contributed to your final results. This will help guide future marketing decisions.

2. True or false? When you are only testing two variations of one variable, you use an A/B test to determine which version will produce the best results.

  • True (CORRECT)
  • False

A/B testing is the process of comparing two variants of an ad against each other to evaluate which one performs best.

3. Which of the following is correct about a time decay attribution model?

  • It gives credit to touchpoints (clicks or impressions) based on how recently they happened. (CORRECT)
  • It gives credit to the last ad a user saw or clicked on before converting.
  • It gives all the credit for a conversion to the last ad a user clicked on before converting.
  • It evenly spreads the credit for a conversion across all the ads a consumer clicked on before finally converting.

Correct! This model gives more credit to touchpoints that happened more recently, so closer to the conversion.

4. True or false? Attribution is mostly used to evaluate the impact of online media channels on a purchase.

  • True (CORRECT)
  • False

Correct! You can also use it across online and offline channels like TV for instance, but, since the data is not always as easy to get by, the results from this type of cross-channel analysis are not as immediate.

5. Why may advertisers want to use attribution modeling studies?

  • Attribution modeling helps advertisers adjust their bid for the Facebook auction
  • Attribution modeling can help advertisers understand how much influence their ads on different platforms had on their result  (CORRECT)
  • Attribution studies help to test different variable of an ad and understand which variables work best and drive the best results
  • Attribution modeling can help advertisers understand the effect of their ads on ad recall

Correct! This can then influence how the advertising budget is spent.

6. You are working on a campaign with the objective to drive app downloads. You have created an audience on Facebook for your campaign. But, you also have a list of emails from people who have downloaded an app from you before, and you plan to create a custom audience using that list. Now, you would like to know which audience will be most likely to download your app. The new audience you created, or the custom audience of people who downloaded one of your apps before. Which study could help you?

  • You can run an A/B test (CORRECT)
  • You can use an Attribution Modeling study
  • You can run a Brand Survey Test
  • You can run a Marketing Mix Modeling study

Correct! Because you are only changing one variable, in this case the audience, running an A/B test is the right way to go.

7. Both A/B tests and Attribution Modeling studies help you to optimize your advertising, but how do they differ?

  • A/B tests help you optimize using a test and control group, whereas attribution modeling studies don’t.
  • A/B tests help you optimize the image you use in your ads, whereas attribution modeling studies help you optimize all other aspects of your ad.
  • A/B tests help you to optimize within a campaign, whereas attribution modeling studies help you to optimize your budget across campaigns across platforms (CORRECT)
  • A/B tests help you to optimize within a campaign, whereas attribution modeling studies help you optimize the creative for your TV campaign as well as your online campaigns

Correct! A/B tests help you optimize when you are first creating a campaign. Attribution modeling studies can be used after you’ve run campaigns on various platforms.

8. True or false? Historically, advertisers have relied on cookies to connect a sequence of touchpoints to a person.

  • True (CORRECT)
  • False

Correct! Cookies are pieces of code that get added to a person’s web browser when they visit your site and when they see your ads. The cookie then let’s your advertising or measurement platform know which ads people interacted with or saw.

9. Imagine you are planning a campaign for a shoe brand on Instagram.  You have several images of the shoes you want to promote, but you are not sure which image will work best.  After a meeting with your team, you decide to run an A/B test. Version A includes an image of three shoes and a model with the caption “Put your best foot forward. Check out our summer collection.” There is a call to action button that says ‘order now’. What is the best practice to follow when developing your version B?

  • Changing the caption and the image of the ad.
  • Changing the font and image of the ad.
  • Make version B as different from version A as possible.
  • Only vary the image creating version B. (CORRECT)

Correct! When you create your A and B version of what you are about to test, vary only one variable.

10. Which of the following is correct about a last click attribution model?

  • It gives credit to the ads in the conversion path based on a statistical attribution model
  • It gives credit to the last ad a user saw or clicked on before converting
  • It evenly spreads the credit for a conversion across all the ads a consumer clicked on before finally converting
  • It gives all the credit for a conversion to the last ad a user clicked on before converting (CORRECT)

Correct! Even if a person clicks on multiple ads, it assumes that the last ad they clicked on is solely responsible for the conversion.

11. Which of the following statements is true about the accuracy of attribution results?

  • The accuracy of the attribution results depends on whether the model is ruled based or statistical.
  • The accuracy of the attribution results depends on the quality of the data input. (CORRECT)
  • The accuracy of the attribution results depends on the accuracy of the model. (CORRECT)
  • The accuracy of the attribution results depends on the number of ad touchpoints.

Correct! If the data available is accurate and robust, then the results of the attribution model should be accurate, too.

Correct! How closely the model reflects reality is a major part to determining the accuracy of the attribution results.

12. Which of the following describes some of the most common challenges we face when measuring advertising effectiveness?

  • It can be challenging to randomly assign people to a control or an experimental group
  • It’s not always easy to connect data from different platforms and devices. Also, connecting all the advertising touchpoints to one individual user can be challenging (CORRECT)
  • It is often challenging to create a test with enough power or a high enough confidence interval
  • It is hard to connect data from people who log in to Facebook on both their mobile device and on the web

Correct! These are both major challenges when trying to measure advertising effectiveness across platforms.

13. True or false? You would run a marketing mix modeling study to show how your advertising on different platforms contributed to company sales.

  • False
  • True (CORRECT)

Correct! A marketing mix modeling study is needed when you have advertising across multiple platforms, like TV, Radio, and Facebook.

14. Which of the following is correct about a positional model?

  • It evenly spreads the credit for a conversion across all the ads a consumer clicked on before finally converting.
  • It gives credit to the last ad a user saw or clicked on before converting.
  • It gives more credit to first and last touch points whether they are clicks or impressions, while the credit for the remaining touchpoints in the middle is divided equally. (CORRECT)
  • It gives credit to the ads in the conversion path based on a statistical attribution model

Correct! In the positional model, more importance is placed on first and last touch points.

15. Which of the following is NOT a component of the attribution method?

  • The output
  • Marketing channels (CORRECT)
  • A model
  • The input data

Correct! This is not an element of the attribution method.

16. Imagine you are planning a campaign for scented candles on Instagram. You have several images of the candles you want to promote, but you are not sure which image will work best. After a meeting with your team, you narrowed the choices down to two different images. One is an image of three candles on a dresser, the other one is an image of one candle only. You have already decided which copy will accompany the image. What should you do to help you decide on the right image to use?

  • Conduct an A/B test as part of the Instagram campaign in which you create two ads that are identical except for the image. (CORRECT)
  • Conduct an A/B test in which you test a version A with the image of the three candles with a text that talks about the promotion and version B with the image of the single candle and copy that talks about the new scent of this candle
  • Conduct a Holdout Test in which you check the effect of each of the images.
  • Use an attribution modelling study to evaluate which images have worked best in the past

Correct! When you are only testing two variations of one variable, you use an A/B test to determine which version will produce the best results.

17. Imagine you work in the marketing department of a large clothing retailer. You are working on a ‘year in review’ presentation and you would like to show how your advertising on different platforms (TV, radio, Facebook and Youtube) contributed to sales for the denim line you introduced this year. You step to a market research agency to help you with this. What type of study should they do for you?

  • They should conduct a Holdout Test
  • They should run an A/B test
  • They should run a Brand Survey Test
  • They should run a marketing mix modeling study (CORRECT)

Correct! A marketing mix modeling study is needed when you have advertising across multiple platforms, like TV, Radio, and Facebook.

18. Which of the following describes some of the most common challenges we face when measuring advertising effectiveness?

  • It is often challenging to create a test with enough power or a high enough confidence interval
  • It is hard to connect data from people who log in to Facebook on both their mobile device and on the web
  • It’s not always easy to connect data from different platforms and devices. Also, connecting all the advertising touchpoints to one individual user can be challenging (CORRECT)
  • It can be challenging to randomly assign people to a control or an experimental group

Correct! These are both major challenges when trying to measure advertising effectiveness across platforms.

19. True or false? When we want to track advertising effectiveness across the whole customer journey, we do not need to be able to monitor behavior on the different platforms.

  • True
  • False (CORRECT)

Correct! Tracking advertising effectiveness involves observing customers on a number of different platforms where people can convert.

20. Which of the following statements is true about connecting touchpoints to one individual person? (Select all that apply)

  • It’s challenging for advertisers to connect the data from a person’s interactions with ads on mobile devices with that same person’s interactions on computers. (CORRECT)
  • You can use Facebook Attribution to make sure Facebook can collect all the data for every sale.
  • Facebook Pixel, the SDK and the conversions API allow you to tie actions directly to real people due to Facebook’s ability to track persistent login and a unique identifier associated with a person’s Facebook account. (CORRECT)
  • Historically, advertisers have relied on cookies to connect a sequence of touchpoints to a person. (CORRECT)

Correct! Cookies are pieces of code that get added to a person’s web browser when they visit your site and when they see your ads.

21. In which situation would Marketing Mix Modeling be most beneficial?

  • For a large company who advertises on TV, the radio, YouTube, Facebook, and LinkedIn (CORRECT)
  • A fashion company who only advertises on Instagram
  • A small startup advertising their first product on Facebook and Instagram

Correct! A large company who has a large marketing budget and advertises on multiple media types would benefit from this type of analysis to determine where to allocate this budget.

22. Which ad caused Kathy to buy the mattress?

  • All ads may have had some effect on Kathy’s decision to buy (CORRECT)
  • The YouTube video ad
  • The Facebook Newsfeed Ad
  • The ad Kathy clicked on

Correct!  Kathy’s decision to purchase was probably influenced by all these ads to some extent

23. Should Imra conclude to put all her advertising dollars in a Facebook campaign with a coupon next year?

  • No (CORRECT)
  • Yes

That is right! It is unlikely that the ad with the coupon will work as well without the awareness campaign.

24. What does Facebook leverage to help solve the challenge of connecting touchpoints to one person?

  • A persistent login (CORRECT)
  • A unique identifier linked to a Facebook account (CORRECT)
  • The pixel (CORRECT)
  • Cookies

Correct! This is one way that Facebook helps connect the dots between touchpoints.

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