1. Quality Score
This is a score assigned to you by Google, after it measures the relevance of your keywords, as compared to the context of your ad. Google bases this score on several metrics – the click through rate that your ads receive, the relevance of your keywords to the actual search being performed, and the overall quality and optimization of your landing page and website.
The higher your quality score, the more likely you are to secure integral keywords, pay less for clicks, and to see higher search rankings per ads.
2. Click-Through Rate:
This is perhaps the greatest indicator through which your quality score is measured, as well as the effectiveness of your keywords and ad. Because quality score so depends on CTR, this is one of the more closely watched metrics for paid ad campaigns.
3. Conversion Rate:
Because the whole point of running a paid ad campaign is increasing your conversion rates, monitoring just how well you’re able to do so is the most important part of measuring success. Regardless of how many clicks you’re receiving, or how good of a quality score you have, if your conversion rate is low, then some aspect of either your ad or your landing page is under performing. The beauty of being able to measure all these aspects is that you can quickly locate your shortcomings and correct them, ensuring that no funding is wasted.
4. Cost Per Conversion:
Ultimately, paid ad ads bring in new clients, but they also hinge on the amount of investment that you’ve put into them. If you’re spending more on running the paid ad campaign than you’re receiving in profit from a new client, obviously something isn’t working. Unfortunately, many businesses don’t use these measurement tools, and ending up investing in strategies that don’t work far longer than they should be. By utilizing the CPC tool, you can improve your paid ad campaign and keep unnecessary costs down.
5. Wasted Spend:
The bane of any online marketer is a consumer that clicks on an ad and doesn’t end up converting. These cost you money because you pay for clicks, yet yield no return. There are ways to minimize wasted spending, such as identifying keywords for which your ad should not show up, or aggressively pursuing consumers who can become potential leads. Whichever way you go about it, there will be a certain amount of wasted spending. It’s best to track the exact amount so that you can create accurate reflections of your paid ad campaign.
The goals of your paid ad campaign may differ from those of other businesses, especially depending on the industry in which you operate. Comparisons between industries are meaningless, as the end goals will be very different. That’s why these metrics aid you in achieving your own marketing goals in a way that’s most beneficial to your business, by offering metrics that relate to every aspect of a successful marketing campaign.
Results should be tracked throughout the entirety of a campaign rather than just at the end, so that changes can be made along the way to improve in areas that are lacking. This way you won’t end up funneling investment into campaigns that are doomed to fail, and will receive the full benefits of a paid ad campaign. Ultimately, these metrics exist to make your job as a marketer easier. The failures that can occur along the way are often unforeseeable and can only be countered as they come up.