The essential metrics for any business to help you get what you want out of your online ad campaign.
Together all of the metrics you’re measuring about the reach and effectiveness of your ad campaign illustrate a story of the productiveness of your campaign. If you’ve been measuring the same metrics time after time, maybe there’s something missing. If you’re not seeing significant improvements in your overall ROI it’s possible you’re measuring the wrong metrics and you’re missing a significant piece of the story.
Metrics are measured to help you make marketing decisions. If you’re aware of the reach and success of certain aspects of your campaigns and online advertising you know where to focus your energy and resources. For instance, if you’re not measuring your bounce rate, you could potentially be losing a lot of customers. Once you’re measuring this metric and you take into account that this percentage of people are bouncing right off your site you can focus your efforts on making people stay there.
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It’s most important to consider your goals and your product when selecting which metrics to measure. Below we’ve listed 4 metrics that are essential to any business and can help you get what you want out of your ad campaign.
1. Bounce Rate
In the great race of traffic to your site, quality will always outrace quantity. The bounce rate is a great way to measure quality traffic coming into your site; it’s easy to understand and easy to compute. The bounce rate measures those who come to your page and leave immediately, or “bounce”. You could have all of the traffic on the web coming to your page, but if no one is sticking around what good does that do you? This metric will show you right away where you need to stop wasting your time. If people are coming to your page and bouncing as soon as they’ve entered maybe you’re not hitting your right target market.
Using a programmatic tool like SmartyAds allows you to enter your target market and the budget you’re working off of into the system. They do all of the research for you, placing ads in relevant places to bring you more engaged and relevant users to your site. Focusing on the right placement of your ads to bring traffic to your site will significantly decrease your bounce rate because everyone coming to your site will be interested in what you have to offer.
A good metric to complement your Bounce Rate is the click-through-rate (CTR). This way you can see people are interested in your content and what you have to offer however somewhere along the line they were let down.
2. Unique CTR
Click-Through-Rates are a great method to see how many people are actually clicking through and following your ads to the site. However, there’s nothing there that’s going to tell you if it’s just the same person who keeps clicking on the same advertisement. Unique CTR tracks only unique visitors, each time someone new is clicking on your ad is implemented into this metric.
If you have a low CTR you can try changing up your format. Maybe the action that you want people to take or the button you want them to press isn’t in an accessible spot for them. You can also really try and highlight the desired action you want from your users. A callout box is used a lot of times to make it clear and enticing to increase CTR.
3. Engagement Rate
Once you’ve managed to get traffic driven on to your site from various different advertising and content distribution methods it’s all about engagement. If you’re only measuring metrics that measure how many people click on to your site, you’re missing a very important piece of your story. What are they doing there? How long are they spending there? SimplyMeasured helps you nail down analytics you’re measuring for all of your social media channels, giving you all the answers to these very important questions.
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You can use this metric to gain information about where your more engaged users are coming from. If users who are being directed to your site from a specific place are spending more time on your site that’s a good indication that you should spend more of your efforts and resources keeping up your relationship and posting more ads or content on that particular site. Vice versa, if users from another site have a very low engagement rate it’s probably a good indication that you shouldn’t be putting too much marketing efforts there any more as it’s not receiving a worthy payback.
4. Social Clicks
In 2013, the click through rate on social platforms such as Facebook increased by 275%. So now, more than ever, people are interacting and clicking on businesses through social media. In order to learn what content your audience loves, it’s essential to measure what they’re clicking on and what they’re not. You can use this metric to see what posts are successful and try similar things for future posts. For instance, if you wrote something about tricks or hacks that had a lot of clicks, you’ll get a better idea of what your audience likes.
A snippet like segment.com takes all of your customer data and translates it for each individual tool you’re using. The snippet takes all customer data like who they are, where they're accessing your site from, at what time they’re accessing it, etc. and forwards this information in their own language. This way you can track how much traffic is coming from different sites and see which social platforms work best for you.
None of these metrics mean anything to you if you don’t know what you’re marketing. Before you begin measuring metrics and selecting what you want to measure you have to make sure you have a clear understanding of your underlying objectives. First ask yourself why do you care? What do you want to get out of the marketing? Then you can begin to decide which metrics will help you gain the most insight for your future campaigning endeavors.