Keeping track of your campaigns is a crucial element of any PPC advertisement strategy. In the absence of clear KPIs, you will likely end up spending money on a variety of channels that have little or no effect on your overall goal.
The thing with tracking however, is that there are many, many metrics to keep an eye on. Some of them; like clicks and sessions, are largely vanity metrics that do not have a direct impact on your bottom line. The trick to maximizing your ROI is knowing the metrics that matter most and focusing your time on understanding them so you can use the insights you derive to optimise the campaign for better results.Revenue Per Session
- Tracking conversions by looking at the binary of whether or not a particular viewer took the action you want is good, but it falls short of helping you derive an accurate amount to bid for ad space.
Using RPS is much better because since it calculates the average income that you make from each conversion, you get a holistic view of how much you’re making for each ad dollar you spend when you work with a professional that is great at pay per click management services
Unlike conversion stats where you’ll only see that a customer purchased a single item, RPS also accounts for multiple purchases and upsells. Negative events such as refunds and refunds can also be calculated so you can have a clear picture as to the impact they have on your profit margin.Bounce Rate
- Users that bounce are those that get to your landing page and leave in a short period of time without taking any action.
There are many reasons why users could bounce
, including poor UX design, poor ad copy, conflicting options or a conversion process that’s too complicated for users’ short attention spans.
The bounce rate is a good way to know if there are any errors in your campaign. It’s also a good indicator of the effects of specific changes to your marketing funnel. As you split test, lower bounce rates will let you know that you’re doing something right and if the rates skyrocket, that’ll be your cue to reverse whatever you’ve done.Conversion Rates by Audience Segment
- When it comes to targeting your ads to be sure they’re getting in front of the ideal eyeballs, the more information you have about your users, the better. Generally, their location, device type and demographic info such as their age, gender, education level and the like are the key points you need.
Working with your web designer to pull browser info (while making sure you’re adhering to all laws
) is a good way to start, while using forms and purchase info to complete the data.
Use this information to partition your conversion stats and identify where your most valuable customers come from, and then prioritise your ads toward them. Careful analysis of the data will often reveal surprises in the form of demographics that you might not have initially thought would patronise your products significantly.