The internet and online advertising have become the leading mediums in recent years, which have significantly transformed business operations and communication with customers. Continuous development and increased financial investments in online advertising necessitate measuring the effectiveness and efficiency of online advertising. Consequently, numerous metrics, mainly theoretical, and tools have been developed to facilitate the measurement of effectiveness and efficiency. It is important to distinguish between effectiveness and efficiency, even though in foreign literature the terms are often not differentiated. Effectiveness means “doing the right things,” and efficiency means “doing things the right way”. When measuring effectiveness and efficiency, we encounter numerous challenges, since most metrics have shortcomings, and it is extremely challenging to create a metric that considers all factors, which can influence the effectiveness and efficiency of online advertising. However, measuring effectiveness and efficiency is very important despite the challenges, since it provides advertisers and companies with insight into their work and facilitates making decisions in the future. We could say that analysing past advertising activities is a prerequisite for successful and efficient activities.
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