Arrange the following steps in the correct order to effectively analyze campaign data:
- Step 1: Validate hypotheses through further data analysis and testing.
- Step 2: Look at an overview of key performance indicators like overall campaign ROI.
- Step 3: Develop hypotheses based on initial findings and observed trends.
- Step 4: Drill down into specific metrics such as traffic sources, CTR, and conversion rates.
Choose the sequence that represents the most logical and effective approach to campaign data analysis.