What Is Internet Marketing?
So you’re trying to get any possible advantage over your competitors, and you know that of those is advertising online, to attract as many potential and current clients to their services and products. It is an essential piece of the modern business strategy as that is the way your business will scale more effectively, while at the same time reaching your target audience with less cost.
There are several advertising platforms available, and Google Ads is one of our and most marketers’ favorites as it’s one of the most powerful ad platforms in the world, enabling you to effectively reach your target audience.
Exact targeting, extensive reach, and achieving measurable results is the exact strategy you can implement through this platform for your business. However, success doesn’t come overnight with Google Ads, not unless of course, you are tracking the right metrics, hence this blog post.
There are key metrics that are essential for Google Ads that you should be closely analyzing, to crush any competitor, get their clients and retain your own. It might sound cutthroat or cruel, but then again, your competitors would do the same to you if they knew these tactics.
The metrics that we are about to cover below are beneficial because they help you make data-driven business decisions, and aim toward maximizing the bang for your buck, as well as focusing on user experience and client retention. All of this to say, our goal as a business is to reach the highest possible ROI.
If you want to get all of the amazing benefits that Google Ads can provide for your business, below we’ve explained more in detail about the top 5 metrics we recommend for you to track, to improve your ad campaign health, ad success, client engagement, and conversions, while at the same time lowering the costs as much as possible.
Sounds brilliant, right? We think so, too.
Let’s get into it.
There are several juicy reasons why any business should track these metrics, and most businesses don’t even know they exist or what they do, otherwise, they would also be tracking them.
In general, metrics provided by Google Ads provide amazing and in-depth insight into how effective each ad is, which then is reflected in the entire ad campaign. Exactly that will help you make better decisions for your business and overall optimize your marketing for maximum results.
Here are additional reasons why we think tracking metrics are useful:
By understanding how your ads are performing (of course, using data), you would be able to make the necessary adjustments that are going to impact your conversion rates positively. So, if an ad is not performing well and we realize that it’s because of the ad copy, targeting, landing page, ad channel, etc – we are then able to action it.
It might take a couple of adjustments to your ad, but overall you will see an impact on your conversion rate, as it will improve instantly and over time.
All of this is to say that the goal is to provide an overall better user experience, which ties in with client satisfaction and retention, conversion rates, and ultimately leads to more sales. and/or leads generated.
There are several metrics that we’ll get into below that help you understand your ads in the sense of if the messaging about the business, services, or products has been transmitted over to clients in the most effective way possible.
Using those metrics we can then go back to the ad copy, keywords, target audience, ad placement, and landing page and improve upon it.
This cycle could be repeated several times before we see the actual best-set campaign, which will then attract more qualified traffic (i.e. users on the page), increasing the likelihood of conversions, vis-a-vie our aim to improve the overall customer experience which then helps us get to the next level as a business.
An interesting phenomenon happens when you track the right Google Ads metrics, and that is seeing #1 where your money is going and #2 which campaign is most effective. That is the easiest way to analyze the cost-efficiency and profitability of the campaigns.
Then, we can backtrack and see which ad or keyword is underperforming from the campaign, and re-allocate the ad budget to the top performers until we end up only with top performers that drive the best ROI.
Less money will be wasted and your business can place this resource where it can be put to best use.
“To be able to get what others want, you must do what others don’t want to do”, it’s a quote that we might have just made up on the spot, but the sentiment remains.
Crushing your competitors would mean we keep our client base and getting theirs, as working toward building the best user experience (with ads being a part of this) would do just that.
A good thing about Google Ads metrics and stats, in general, is you can see how better or worse you are than your competitors by doing a comparison. That is good for you because then you can take the steps to improve and you will see the traffic, conversions, and engagement go up, as well as costs go down
Any decision should be a data-driven one, without many emotions forcing it into a certain path. And, by tracking several Google Ads metrics you would effectively do that, i.e. track the performance of each ad, keyword, campaign, etc to get a better understanding of our overall advertising effectiveness. And knowing is more than half of the battle.
Once we know how well or bad our performance is, we can then check each piece of the puzzle (ad copy, targeting, landing page, channels, keywords, placement, overall user experience, etc.) we can work toward the goal of getting each ad as effectively possible.
And by effective, of course, we mean those sweet, sweet conversions. Data-driven business behavior is the key.
Now that we know all these amazing benefits that we will get, is time to learn which are the most important metrics that we recommend you track to get them, and more:
Below, we’ve explained each metric in Google Ads for your business to improve ad performance, make data-driven optimizations, and drive better results.
Although we’ve spoken at length about Quality Score in a previous blog post, it’s one of those “must-haves” in terms of things to track, as it shows you the entirety of the quality of your marketing efforts and all in one metric!
Even if you’re not tackling the rest of the below (which we highly recommend you do) you can go by with analyzing this metric, as it tells you the health of your ad campaign, individual ads, keywords, and landing page.
A good Quality Score positively impacts your rankings, lowers your ad costs, gets you more reach, better target audience quality, better effectiveness, and a better conversion rate.
It’s a “heaven if you do, hell if you don’t” type of metric.
A good general equation to how good your ad is performing is, does it bring more conversions/revenue than it costs. Simply put, the more revenue it brings and the lower the cost, the better the ad campaign. And, the return on ad spent metric helps you deep dive into just that.
It helps you measure the revenue generated for every dollar spent on your advertising efforts. If the ROAS is higher it means we are on a good path, while if low we probably need to either action or stop that campaign.
No matter if we have multiple ad campaigns or just starting, every dollar spent on ads needs to be accounted for, and burning money doesn’t mean your ads are performing well. That is why we need to look at the costs with hawk-eye vision.
It goes back to budgeting at the end, focusing on the ads that drive the higher ROI, and adjusting the low performers to try to reach that level. If it doesn’t match our expectations, chances are we need to back to the drawing board.
Now this metric is one of our favorites, as indicates the percentage of people who convert after clicking on your ad, and converting, like for example such as making a purchase, filling out a form, etc.
We love this metric because it is a brutally honest depiction of how well our ads are performing. It is going to give you some great insight into how effective your landing page is, ad copy, targeting, landing page, keyword selection, etc.
A high conversion rate indicates less cost for more impressions, reach, and conversions overall. By optimizing the conversation rate, you will also ultimately boost your sales or lead generation.
Linked with the conversion rate and return on ad spend, it’s useful to track cost per conversion as it lets us know how much we spend on our ads on average for each conversion. Using this metric you can understand the impact the ads have on your bottom line, and if they are reaching your assessments.
By tracking your cost per conversion, you can effectively identify which campaigns and/or keywords are underperforming, that may be a key culprit to your high costs and set up action points for them. This key data allows you to accurately optimize your budget allocation strategy, to ensure you are getting the most value from your advertising spend.
Advertisers love this metric as it measures the number of people from the target audience, and who clicked on your ads after seeing it. Click-through rate gives you a great indication of how engaging your ads are, capturing the attention of the target audience.
The goal is always to have a high percentage of this metric, specifically, the aim should be above the industry average. So if the standard is 2.5% and your ads have a CTR of 5%, you’re on a good path.
This ties back to the entire user experience that the people you target have with your brand, even if it means it’s the very first interaction they had with your brand. Then, you can take the steps back to analyze your ad copy, keywords, target audience, etc, even if we’re looking at a good performer so that we can see the actions we’ve set as good examples for future ads
More clients, less ad cost, and being better in every way compared to your competitors sounds nice, right? Well, these several Google Ads metrics will help you achieve that, and more.
If you want your business to generate more revenue, keep more clients (and convert more potential clients into active ones) as well as increase brand awareness, tracking these metrics we believe is a must.
These metrics will overall aid you with improving your overall user experience, which ultimately leads to better client retention, revenue generated for the business, and building a network of loyal clients, through which we can deploy “word of mouth” marketing to get even more clients.
It causes a snowball effect that will catapult your business into the stratosphere (and scale more effectively). And, all of that starts and ends with analyzing metrics like Quality Score, conversion rates, return on ad spend, cost per conversion, and click-through rate.
Now, we know that reaching the best potential with your business, especially in the modern, online advertising world might be daunting. Overall as we mentioned it’s pretty simple, with having the user experience on the top of your mind, and that all starts with optimizing your website for maximum effectiveness.
As, what good would be the perfect ad if the landing page the users land on isn’t optimized for maximum conversions?
To learn more about how we can help you achieve business success, contact us here.
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