How do you compare advertising platforms?

1 Define your objectives

Before you compare advertising platforms, you need to have a clear idea of what you want to achieve with your ads. Do you want to increase brand awareness, generate leads, drive sales, or build loyalty? Depending on your objectives, you may need different metrics, strategies, and platforms to measure and improve your performance. For example, if you want to increase brand awareness, you may focus on impressions, reach, and frequency, and use platforms that have a large and diverse audience, such as Facebook, YouTube, or TikTok. If you want to generate leads, you may focus on clicks, conversions, and cost per lead, and use platforms that have a high intent and targeting capabilities, such as Google Ads, LinkedIn, or Quora.

2 Know your audience

Another important factor to compare advertising platforms is to know your audience and where they spend their time online. You want to choose platforms that match your target market's demographics, interests, behaviors, and preferences. You also want to consider the stage of the buyer's journey and the type of content they consume. For example, if you are targeting young and tech-savvy consumers who are looking for inspiration and entertainment, you may use platforms like Instagram, Snapchat, or Twitch. If you are targeting professionals and decision-makers who are looking for information and solutions, you may use platforms like Twitter, Medium, or SlideShare.

3 Compare your costs and returns

Of course, one of the most crucial factors to compare advertising platforms is to compare your costs and returns. You want to choose platforms that offer the best return on investment (ROI) and the lowest cost per action (CPA) for your objectives. You also want to consider the scalability and sustainability of your campaigns. For example, if you are using a platform that has a high cost per click (CPC) but a low conversion rate, you may be wasting your budget and not reaching your goals. If you are using a platform that has a low CPC but a high conversion rate, you may be getting a good ROI but not enough volume or reach.

4 Use analytics and tools

To compare advertising platforms effectively, you need to use analytics and tools that can help you track, measure, and optimize your campaigns. You need to set up your tracking codes, pixels, and tags correctly and use platforms' native dashboards or third-party tools to monitor your performance. You also need to use tools that can help you conduct market research, competitor analysis, keyword research, and creative testing. For example, you can use tools like SimilarWeb, SpyFu, SEMrush, or AdEspresso to get insights into your industry, competitors, keywords, and ads.

5 Test and optimize

Finally, to compare advertising platforms, you need to test and optimize your campaigns constantly. You need to experiment with different platforms, audiences, formats, messages, and offers to find the best combinations that work for your objectives. You also need to analyze your results and make data-driven decisions to improve your campaigns. For example, you can use tools like Google Optimize, Optimizely, or Unbounce to run A/B tests, multivariate tests, or landing page tests to optimize your conversions.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?