Hello, hello!
In this video we're going to quickly cover an advertising management philosophy called "observing trends". Let me explain what I mean.
As I mentioned in the last video, maintaining advertising campaigns is kind of like stock trading. It's all about making educated predictions about what you think is going to happen next.
For example, after you launch a campaign, what do you do?
Do you leave the campaign running?
Do you stop the campaign?
Do you change it?
Let's talk about this
OBSERVING TRENDS OVER TIME
Let's pretend that you are "playing" in the stock market, and you just bought a stock.
2 weeks into you buying the stock, the stock is doing well, and you're making money. Week 3, the stock keeps doing well, and you keep making more money, with no signs of it slowing down.
What would you do? You would keep the stock, right?
As long as it keeps making you money, it seems like right thing to do.
However, if week 4 the stock starts to drop. Then, week 5, the stock keeps dropping. At some point, you might decide to cut your loses, and sell the stock. You can also decide to run the risk and keep the stock to see if it picks back up.
Ultimately, no one knows what is going to happen with the stock, so all you can do is try to take a chance on what you think is best.
The same train of thought applies to advertising.
Every week, you're going to check your ads, and see how the ads are doing.
If the campaigns are performing well (you're generating leads, the campaign is helping you sign up more students, and helping you make more money), the best thing to do is to leave the ads alone.
If the campaign performance is starting to go down, maybe you leave it for a bit to see if it recovers. However, if some time pass, and the campaign performance keeps going down, maybe it's time to change the campaigns.
It sounds simple right?
I wanted to make this video, so that you can see that managing the ads can be something really simple, in case you were feeling intimidated about it.
With that said, this concludes the theory part of our training.
Now we'll dive into the practice of it.
See you in the next video.