When you start a digital ad campaign, there is more to it than how many impressions your ad has had. You need to understand your goals, and data needs to be measured to see if your campaign is working. In this blog, we’ll talk about setting goals, tracking impressions, understanding and calculating key performance indicators (KPIs), and measuring the right data to ensure your digital ad campaigns are successful.
Choosing Your Ad Campaign Goal
Before you launch your digital ad campaign, you must know what you want to achieve. Do you want people to know your brand? Do you want to get people interested in what you’re selling? Do you need to generate leads? Are you trying to get people to download something? It’s important that you figure out what your goal is before starting the campaign. Otherwise, how will you know if it’s successful? Once you have defined your goal(s), it’s time to determine which metrics are most important for tracking progress toward that goal. We’ll cover that a little further down in this article. 👇
Is Tracking Impressions Enough
Let’s start with the impressions metrics. What are they? When we talk to new clients about how their past social media ad campaigns have gone, the metric they tend to gravitate to is impressions. When we ask what their goal was for those campaigns, we normally hear nothing but crickets. 🦗 Unfortunately, impressions were the main metric that their prior digital agencies gave them to show how their ad was performing. When we ask if they’re happy with the results from those “impression-focused” campaigns the answer is usually a quick no.
I’m not knocking the impressions metric totally. The metric is nice to have, but it’s just the beginning.
Impression counts tell you how many people have seen your ad (like a billboard on the highway), but that doesn’t necessarily mean it is doing a good job.
If you want to make sure your digital ad campaigns are effective, you need to dig a little deeper and understand what data to measure and what KPIs you should use.
Know Your KPI Metrics
KPIs stand for “key performance indicators” and are metrics that measure the effectiveness of a digital ad campaign. The most important KPIs to track will vary depending on your goals, your business’s offer, and your campaign type. Some common KPIs include cost per lead (CPL), lead conversion rate (LCR), customer lifetime value (CLV), return on investment (ROI), and customer acquisition cost (CAC). By tracking these KPIs over time, you can gain valuable insights into your campaign performance and make changes as needed.
How To Calculate Your KPIs
You really cannot just Google what your KPIs should be. That’s because every business is different. You should base your KPIs on past data from your business’s sales, leads, marketing budgets, etc. We understand it can be a lot of work to calculate those numbers, or maybe you don’t even know what kind of information you should be calculating. Let us help you out. Our team has created a “KILLER KPI Metrics Calculator” and it’s free to use! After you complete the form the results will be delivered to your inbox.
ℹ️ You should calculate these numbers again after some time has passed. This way, you will have updated information. (i.e., quarterly, annually)
Once you know what your ideal KPIs (key performance indicators) are, it’s time to create your KILLER Offer, start running ads, and collect data. Different types of campaigns may require different types of metrics to be measured. Some common ones include cost per click (CPC), cost per acquisition (CPA), click-through rate (CTR), landing page views (LPV), engagement rate (ER), and conversion rate (CR). These metrics can help you know how well your campaign performs and where adjustments may be necessary to meet your goals.
KillerB Closing Thought:
Digital ad campaigns can be complex and overwhelming, but with a clear goal in mind and an understanding of the key metrics that should be measured, they become easier to manage. By setting realistic goals, tracking the appropriate data points, and analyzing key performance indicators, businesses can ensure that their digital ad campaigns are as effective as possible in driving leads and generating sales.
In short – if businesses want their digital ad campaigns to be successful – they need more than just impressions; they need a strong ad strategy that considers their goals, target audience, budget parameters, and more! By understanding all these components – businesses can optimize their digital ad campaigns for maximum effectiveness.
If you need help with your business’s ad campaign or digital marketing, let’s connect and see how our team can help your team. Check out our Digital Ad & Offer Creation Services to learn more about how we can help your business.
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