Maximizing awareness of your brand online, coupled with increasing-accordingly return on investment (ROI) and conversions, sparked you to initiate a pay-per-click (PPC) campaign. What other signs do you watch to verify that your approach is giving you your money’s worth?
Measuring your success and seeing when your tactics need revision demands looking at some things that run deeper than the bottom lines of conversion rates and ROI. The puzzle of ever-growing gains has several pieces that must be examined in order to gain the clearest picture of your PPC strategy’s success – or the reasons for its ongoing lack thereof.
They’re the kinds of things that the professional account managers of Million Global Leads examine constantly for each of our accounts in order to deliver the most insightful analysis possible to our clients. Allow us to share the three critical PPC metrics that seemingly aren’t discussed nearly as frequently as the two “bottom lines” discussed above.
COST PER VALUE AND WHAT THE CUSTOMER REALLY BRINGS TO YOUR BUSINESS
More than being simply a valuable metric, cost per value (CPV) is also an easy factor to track via the tools in Google AdWords and Analytics.
Tracking CPV closely illuminates what value customers and their transactions actually return to your business, giving you an insightful new consideration when setting your keyword focuses and bids. You’ll obviously want to bid the most toward keywords closely tied to the best-selling products and services that offer the best return.
If you track revenue generated from each keyword through your AdWords/Analytics value-tracking tools, you can cut spending quickly where it isn’t returning a sizable value for what you’re spending.
COST PER ACQUISITION AND WHAT CONTACT COSTS YOU
Granted, it’s a much more generalized metric than CPV and one more valuable to brands with more narrow, specialized focuses. Still, cost per acquisition (CPA) remains a friend worth having.
CPA indicates simply that your brand made a successful contact, and that making that connection incurred a cost when the searcher clicked your ad. It could be signing up for a monthly newsletter, a request for a no-cost service consultation or even a sale – whatever you got in return, whether actual revenue or a lead on a future sale, you’ve gained something for someone’s visit to your site.
Be careful with this one. It’s important to know what gaining even something as simple as a contact has been costing you. However, it won’t tell you the actual value that’s been returned. Hence, it isn’t telling what your actual return on investment has been. Nevertheless, it’s good to know that visitors aren’t coming and going from your site while leaving you empty-handed.
COST PER PROFIT AND THE BOTTOM LINE YOU’VE BEEN SEEKING
Here we are, the main event: all costs considered, what does PPC advertising ultimately cost me on each profitable sale directly generated by it?
Of course, cost per profit (CPP) also happens to be the trickiest metric to track. Tapping into this indicator requires implementing Google Analytics eCommerce Tracking. This tool integrates with your ERP or order fulfillment systems in order to capture each transaction’s ID and assign a value accordingly. Linking Google AdWords and Analytics through this tool allows for breaking down which transactions create the greatest end profits, not simply the most revenue.
Once you’ve captured that data, you can definitively spot the keywords that may generate the same profits as pricier ones but at a lower cost and with less competition.
Focusing on key indicators such as these is what Million Global Leads does best, and we do it with personalized, ongoing service. We’ll take you deeply and clearly into the numbers to show you just what’s making your PPC campaign tick and sometimes how we can help it run more smoothly. The entire way, you’ll maintain complete access to your own account, for your review at your leisure. Contact us today for a no-cost, no-obligation consultation.