Ditching thorough analytics may result in 97% of inbound marketing campaign failures.
Does that capture your attention? It should.
Hubspot’s 2014-2015 State of Inbound Report revealed the shocking statistics. Inverted, marketing strategies without good analytics only have a 3% chance at success. But what does good analytics mean exactly?
In the world of PPC advertising services, there’s a variety of metrics you could track. The question is, which of these should you track?
What You Track, What You Get
Before you dive into the complexities of paid search, keep this in mind: your business will produce more than what you measure.
This is important in PPC advertising, which considers every click valuable. There is an opportunity cost associated with each lead; as a result, spending time optimizing the wrong metric should NEVER be an option.
A total of 77% of companies heavily depend on Key Performance Indicators (KPIs), but this should not be the case. Remember, not all KPIs are equal; only some link to real company success. If you’re not careful, you’ll waste time in meaningless number games. Therefore, it pays to know the indicators that lead to success.
Traffic metrics (e.g. clicks, cost-per-click [CPC], and click-through rate [CTR]) are some of the easiest metrics you can track. Since you pay for each click, the PPC platform does the job by tracking for you.
These metrics provide information on the users finding you — how they do it and what you should do to get more attention. It offers important feedback on which ads work and if they resonate with your audience.
To ensure your site receives the right traffic, tracking conversions is a must — and you need to track EVERYTHING.
While traffic metrics tell you what the audience thinks, conversions focus on what the traffic thinks of your landing page. It’s not easy to track like traffic marketing, but a little effort transforms this into a low-maintenance metric.
Return on Investment
Return on Investment (ROIs) is your golden metric and is also one of the most difficult. Efforts on profits revolve around your ROI metrics. Still, optimizing your strategy through ROIs focuses on maximizing profit.
Don’t let your efforts go to waste. Keep these indicators in mind and save your PPC strategy from future bumps.