Driving the Metrics that Matter with Magellan
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Overview of this campaign
At Adtaxi, we believe in the power of digital marketing. But in order for it to be successful, it needs to produce real tangible results for businesses. That’s why we built Magellan, our proprietary optimization platform that powers our digital advertising campaigns. With Magellan, we've changed the conversation. Instead of talking about impressions and clicks - we focus on conversions and driving the metrics that matter most to the advertiser.
Our primary goals with Magellan are to help advertisers find new prospects, turn those prospects into customers, and drive the cost of acquiring those customers lower and lower over time. This allows advertisers to draw a straight line from what they are spending on their ad campaign to the impact it had on their business.
An automotive dealer’s principal goal is to drive car sales. Traditionally, with a digital display campaign, the primary metrics used to track performance would be impressions and clicks. But how do those prove any impact or value to the dealer, specifically in relation to car sales? With Magellan, our focus is on conversions and delivering on the primary metric the advertiser cares about. Here’s how we do it:
We work with the advertiser to identify the metric that matters most and optimize to that conversion point throughout the campaign.
After launch, we immediately begin analyzing performance across data sets, tying them back to the advertiser’s key metric.
Magellan reallocates the remaining budget, giving top performing placements a larger share.
The process continues bringing the highest value visitors to the advertiser’s site for the lowest cost.
To demonstrate how Magellan drives real business results, we selected four separate automotive dealers with the same campaign objective:
Drive cost-effective views of their Vehicle Detail Pages (VDP), thereby increasing the likelihood of lower-funnel conversions, such as calls, form fills, emails, and lot visits
Results for this campaign
For each of these advertisers, we recommended running advanced programmatic display campaigns - powered by Magellan - that leverage an intensive audience learning and retargeting effort, along with utilizing cross-device targeting to connect with auto intenders on their preferred device. The individual campaign structures all incorporated unique audience segments specific to the dealership, its geography and target audiences.
We isolated a four-month period in time to normalize the campaign data and understand in aggregate, the impact Magellan’s optimizations have on automotive campaigns with a primary KPI of driving vehicle detail page views. The results were outstanding:
On average, the dealers saw a lift of over 72% in VDP views from month one to month four.
At the same, the cost of these conversions decreased by an average of 28%.
All the while, the monthly budgets only increased by an average of 23% in this same time period.
All of this means that these advertisers were able to maximize their budgets, recognize significant cost efficiencies, and drive more value from their digital advertising spend. By focusing on the metrics that matter most to the advertiser, instead of impressions and clicks, Magellan has brought a “low-funnel” characteristic to what is typically considered a “high-funnel” product.
Magellan has changed the conversation around digital display. And our clients seem to agree with us, as evidenced by the following:
Maintained an average retention rate of 92% throughout 2016.
Increased the number of Magellan campaigns by more than 150%, growing from 207 in January 2016 to 521 in December 2016.
Tripled the monthly revenue driven by Magellan in one year.
Ongoing development of the Magellan platform will continue to focus on delivering long-term value through the solutions we bring and demonstrate our ongoing commitment to customer success.