Connecting with your audience requires deeply understanding them. Collecting data on their habits and lifestyle helps significantly, whether you’re looking into what they buy or simply daily tasks. Truly understanding what those metrics indicate provides you with further, valuable insights. Knowing where your metrics and insights overlap is key in developing a plan that benefits the growth of your business. The more you know about your metrics and how they align, the more you gain a complete picture of your campaigns.
Below is a simple guide to help you develop an understanding of your metrics, how they overlap, and how to use that information to your advantage.
Overview of Ad Metrics
Marketing metrics help you measure the success of your ad campaigns across digital and traditional channels. The various types of metrics include:
Impressions
Impressions are the number of times an ad appears in front of your audience. They differ from views, as there's no guarantee users saw your ads based on impressions. For instance, someone browsing a web page may encounter your paid ad while scrolling down the page, but their attention may fall on the surrounding content. Impressions are ideal measurements to maximize people's exposure to your brand and raise brand awareness.
Cost-Per-Click (CPC)
CPC is a type of bidding model in which advertisers pay based on each time someone clicks on their ads, which can help measure the revenue impact of their campaigns. Advertisers establish a maximum CPC bid that caps the highest amount they'll pay for a single click when setting up campaigns.
Cost-Per-Acquisition (CPA)
CPA measures the total cost to acquire a new customer through an ad campaign. Like CPC, advertisers can use this model to gauge the overall ROI of their campaigns.
Email Open Rate
This metrics shows the rate people open emails that enter their inbox. Open rates help measure the success of your email campaigns for you to determine optimal subject lines, content, and CTAs.
Site Traffic
Site traffic details how many people visit your website, either organically or from your ads. In addition to general traffic, keep an eye on your bounce rate from ads and emails. The bounce rate indicates how many people leave your website immediately after visiting. A high bounce rate could show that audiences either don't find your website helpful or a landing page connects to the wrong ad.
Choosing Your Metrics
Set your metrics and key performance indicators (KPIs) based on how they drive profits. Limit them to maintain a better focus and align them to prevent using multiple KPIs that reveal the same information. Otherwise, your campaigns could suffer from redundancy as you fail to gain deeper insight into your audience's behavior.
Your metrics need to be in line with your goals, as they'll be the key to measuring your campaigns' success since impressions and views make up critical components of brand awareness campaigns. Meanwhile, email open rates could help gauge the success of your specific email marketing efforts.
How Each Metric Overlaps
In your campaigns, different channels accomplish different aims, so their corresponding metrics tell you different information. For instance, TV commercials help increase brand awareness while digital metrics indicate engagement rates.
To get the most from your campaigns, you need to use various channels that feed into each other, boosting their effectiveness. As an example, you may find that increased direct website traffic indicates a successful commercial. In these cases, your commercial may encourage people to visit your homepage. Organic traffic from web pages, on the other hand, could indicate direct engagement.
Knowing how each metric overlaps can help you optimize your campaigns, from prospects' initial interactions with your brand to when they make a purchase. However, you need to know how to develop these campaigns and track their respective metrics. If you can't effectively track and measure success, your campaigns will suffer from a lack of insight as you struggle to appeal to audiences.
Connect With a Media Partner to Identify and Track the Right Metrics
Determining the best metrics based on your goals and channels helps lay out your path to success. However, figuring it out can be challenging to do yourself, especially if you're new to ad campaigns. If you want to drive success and make sure your campaigns thrive, a media partner can help you out.
With a dependable partner behind your campaigns, you can focus on growing your business while experts develop winning strategies. In turn, you'll be able to boost brand awareness, web traffic, conversions, and ROI. All the while, you won't be in the dark as your partner works with you to understand and achieve your unique business goals.
