Are you flying blind with your digital campaigns? No you are not! The magic lies within the monthly review! Let’s unravel the ultimate question of, “Is it working?” Well first before we determine that, we need to know what are we measuring to determine success and make that the focus of a campaign reporting review. Let’s break down some highlights of digital reporting.
Impressions: The Silent Spectators
Impressions, oh impressions! They’re like silent spectators at a mime show – they see it all but rarely make a peep. Yet, their sheer presence hints at the grandeur of your digital spectacle. But important to point out impressions are targeted to your specific audience you have selected, so rest assured, they are getting noticed. Another metric to look for on impressions and how many were served, is looking at where the impressions went to by tactic and how is the performance by those. In the example below, impressions are being served to Behavioral Targeting, Keyword Targeting and Retargeting. It is not uncommon that Retargeting would have a high CTR(click thru rate) like you see below. All strategies in this example are performing well from a CTR standpoint and well above the national CTR average of .07%, however, one behavioral line item is a little lower than the others, so this may be something to think about for increasing performance. Things that could be revised are the creative for this behavioral line item or the target categories, and should more categories be added or removed.
Click-Through Rate (CTR): The Trailblazers
Ah, the CTR, the brave souls who dare to defy the odds and embark on the perilous journey from “scrolling oblivion” to “clicking glory.” They’re the trailblazers of the digital frontier, leading the charge towards engagement! A benchmark to measure is making sure the CTR is well above the national average of .07%. NOTE: Some products will not have any clicks or a high CTR like OTT or Online Audio, because it is streaming and clicks would be very low. Things to take away from clicks are making sure clicks remain consistent week over week or month over month. When we start to see click decline, this is usually an indication that creative may need to be updated to keep the messaging fresh and new.
Conversions: The Holy Grail
In the realm of digital marketing, conversions are like a leprechaun’s pot of gold, they beckon from the end of the rainbow, promising untold riches (or at least a decent ROI). To break it down in a simple explanation, conversions are what consumers do AFTER clicking on an ad or after being served an ad. This is where the true engagement measure comes from. What are good conversions?
- Making a purchase or “add to cart” on your website
- Clicking to a certain page of your website that you want to track (products/services page, info page, etc.)
- Downloading info or discount offer from your website
- Filling out a “contact us” form
- Registering for a newsletter or offer
- Watching a video
- Creating an account
- Clicking on a specific button on a page
- Clicks on the Live Chat box to initiate a chat
- Clicking on the menu/header pages on your website
- Tracking on-site visits to your location
How Many Of Those People Who Clicked Will Convert Into Leads Or Sales?
To figure this out you need to know what the advertisers’ typical website conversion rate is. In other words, of the people that typically come to their website how many of them convert (do what you want them to do)? Take that percentage x the clicks.
For example:
If you are running 300,000 impressions, you should expect at least 210 people will click on the ad and come to your website (using the national average click through rate of .07%). If you typically convert 5% of people from your website, that would be 210 x 5% which means 10 conversions should be expected.
How Do I Know What My Lead Conversion Rate Is?
This depends on what you consider a conversion. If it is buying something on your website then you would take your total website traffic divided by completed sales to get your conversion rate. If a conversion is someone filling out a contact us form, then you would take your total website traffic divided by the number of people who complete the form to get your conversion rate.
What’s A Good Lead Conversion Rate?
The average website landing page Lead Conversion Rate is 2.35%. Conversions are one of the top ways to determine campaign effectiveness if conversions are able to be measured. In addition to data your client provides like increased calls, foot traffic and sales.
View-Throughs: The Sneaky Spectators
View-Throughs are the sneaky spectators lurking in the shadows of digital campaigns. They may not click, but oh, do they watch or come back later when ready! Like ninjas in the night, they silently influence, waiting to strike when least expected.
View-Throughs essentially mean that a consumer was served an ad but doesn’t click on it, but it made such an impact that they came to a client’s website on their own, when they were ready. And many times, they also perform some type of conversion as well. Talk about the power of advertising.
Other metrics to review on reporting depending on the product and client are:
Creative Performance– If running more than one set of creative you can compare which one is yielding more clicks. Also, what is the view rate of any videos that are running?
Device Performance – If running on multiple devices like mobile, tablet and desktop, etc. what is the impression break out? If there is a large majority of impressions on mobile? If so, it may be time to revisit that user experience on your mobile phone to make sure that it is the desired journey and if improvements can be made to that overall web experience to yield conversions.
Google Analytics – This can be a great way to isolate all web traffic to learn about new user activity during certain advertising windows to see if there was a lift in traffic and overall web engagement.
Google Business- This is a great way to learn ROI during certain advertising windows to see if there was a lift in engagement on their Google Business Listing. Consumers may not visit a website after being served an ad and instead “Google” the business and interact with their Business Listing. The report would identify any lifts in website visits from that Google listing, calls or driving directions if available for that client.
Depending on your clients’ goals and objective, there may be other metrics to review.
Overall Goal Performance: The Moment of Truth
And finally, we arrive at the moment of truth – the grand finale, the pièce de résistance – overall goal performance. It’s where dreams meet reality, aspirations collide with achievements, and we ask ourselves the age-old question: “Is it working?”
There is not a one size fits all for reviewing reporting and campaign success. Understanding the clients’ goals and what to look for and reviewing every aspect of the journey will isolate areas of focus and will assist in uncovering how it is performing. From creative, to strategy, to clicks, conversions, web experience, sales data and more! And reviewing reports EVERY month, yes I said EVERY MONTH with your client is key to ensuring ROI, happy clients and campaign renewals.
