It’s highly important when running paid media campaigns to be tracking the correct metrics. Tracking the correct metrics is important in measuring the effectiveness of your campaigns, as well as making them more efficient with budgets and performing better. As paid media campaigns continue to increase in costs due to increases in cost per click and cost per acquisition, you need to ensure that you are tracking the correct metrics, as well as regularly working on the efficiency of your campaigns in terms of conversion rates and spend/budgets.
If you require support, then you can greatly benefit from hiring a performance marketing consultant and a paid media consultant. Our team works closely with B2B organisations to accelerate short-term lead generation while also driving long-term efficiency and effectiveness. We work with agencies providing services as well as organisations that manage their paid media campaigns in-house. Whether an informal chat or a complex brief, we’re waiting for you to connect. Call, email or submit a form, and we’ll be in touch.
Acquisition & Return on Investment Metrics
All metrics are important, but acquisition, ROI & ROAS are very important in gauging the effectiveness of your campaigns as well as how you can streamline and reduce acquisition costs further and continue to convert leads for your business to accelerate returns on investment.
For acquisition:
- Click Through Rate should be used to measure the performance of paid media landing pages. Through Conversion Rate Optimisation, you can measure the effectiveness of your landing pages and then make changes to increase CTR.
- Cost Per Click and Cost Per Acquisition should be regularly monitored. There are many factors that can increase CPCs and not monitoring this can make campaigns less effective over time. The solution is often more complex than just increasing budgets, and this needs to be carefully considered alongside the other core metrics. These are usually displayed & monitored alongside each other within reporting, as they are interlinked.
- Sales Cycles and Attribution Paths should also be regularly reviewed and added to reporting metrics. Attributing paid media traffic alongside other traffic sources is important to continue to optimise your website and to enhance and guide the client journey to drive conversions.
For return on investment, it’s vital to accurately track return on investment to ensure that your paid media campaigns are making a return but also the amount of returns that are being generated at each campaign level. This needs to be combined with:
- The accurate attribution of leads after the conversion stage to sale and linking these back to their attributed source path, as well as assisted conversion paths. This helps to calculate true ROAS.
- Accurate reporting and analytics are set up and regularly monitored. It’s impossible to accurately continue to monitor your core metrics to measure the success of your campaigns if the tracking is not working correctly or encounters errors.
Core Campaign Efficiency Indicator Metrics
Ongoing analysis of your campaigns alongside the core efficiency metrics is the final jewel in the crown to measure paid media success accurately and effectively. Measuring campaign efficiency ensures that paid media campaigns are running as efficiently as possible and also allows you to monitor the impact of changes to campaigns and landing pages. These changes could positively or negatively impact your paid media campaigns, which is why efficiency metrics are highly important. These include:
- Managing underspend on your paid media accounts. This can be indicative of delivery issues for your campaigns.
- Ensuring all of the relevant acquisition and attribution metrics mentioned above are compared and scrutinised at the paid media campaign and ad level.
- Comparisons of clicks generated, conversions and then ultimately conversions that result in a paying client or lead. This allows you to then measure the success of landing pages and ad copy from the perspective of conversion rate optimisation.
Whether an informal chat or a complex brief, we’re waiting for you to connect. Call, email or submit a form, and we’ll be in touch.