Efficiency Vs. Effectiveness: Spend your online advertising budget the right way
The best way to see results from digital advertising is an approach between efficient ad spend and effective ad placement.
Your ad budget may be spending efficiently, but that doesn’t mean much if it isn’t being spent effectively and bringing in new patients.
You’ve spent money advertising online, but you aren’t getting more patients
Does this sound familiar:
One day, you decided to start advertising. You went to a marketing company for help, and they told you they’d keep your cost per impression (CPI) as low as possible.
This sounded great at first. Your budget was getting you a lot of impressions cheaply but for some reason, your appointments didn’t increase how you thought they would.
This is because Efficiency doesn’t always equal Effectiveness.
Your ad budget may be spending efficiently, but that doesn’t mean much if it isn’t being spent effectively and bringing in new patients.
Understanding the differences
At TrackableMed, we believe one of the easiest ways to understand the differences between efficiency and effectiveness was written in the book The 7 Habits of Highly Effective People by Stephen R. Covey.
Covey says, “If the ladder is not leaning against the right wall, every step we take just gets us to the wrong place faster.”
This means that:
Efficiency is learning to climb the ladder quickly while expending the least amount of energy.
Effectiveness is knowing the best place to put the ladder so that when you get to the top, you’re in the right place.
The balance between efficient and effective is the best way to see results
The best way to see results from digital advertising is to take a mixed approach between efficient ad spend and effective ad placement and messaging.
Ready to learn about what programmatic advertising can do for you?
Schedule a free consultation with TrackableMed to learn more about how we advertise and if programmatic is a good fit for you.
