Determining the performance of a digital campaign can be difficult and available measurement metrics aren’t always providing the insights marketers may be looking for. That’s why social marketing platform Wyng recently compiled its data to provide brands and agencies with an independent reference to assess their digital ad strategies.
The company found that among the industries with the highest Digital Campaign Index (DCI) score, which is an average of two independent performance indicators — Engagement Score (ES) and Virality Score (VS), were Health, Wellness and Fitness, Cosmetics and Luxury Goods. This is likely due to people having a strong interest in their own wellbeing. Indeed, the health and fitness industries also saw the highest average ES and VS, followed by Luxury Goods and Consumer Goods.
When it comes to campaign formats, Co-Created content campaigns, which are merged creative elements from the consumer and brand, had the highest DCI Score. Consumers are likely to be taking time to create personalised user-generated content to share with friends and peer groups.
Commerce campaigns on the other hand had the highest Engagement Score, followed by Sweepstakes. Campaigns with the highest virality score were those which included a “refer-a-friend” functionality.
In using the above data as reference points, marketers are able to assess the performance of their own campaigns depending on their industries. Wyng writes:
If your campaign has a high score relative to the benchmarks, then it may be a good candidate for additional media spend and promotional budget. If your campaign has a relatively low score, consider making changes to the campaign to improve performance — for example, by adjusting the user experience and optimizing media targeting — or winding it down and possibly spinning up a new campaign. The campaign format benchmarks are also a useful reference point for future campaign ideas.