Many individuals new to Paid Search are susceptible to tracking the wrong metrics – ones that may look important on the surface, but ultimately leave you wanting more. Because of this, we’ve put together a short blog, highlighting the metrics and results that matter. Don’t get stuck with the riff-raff; stick with our tips and you’ll know exactly how well your campaigns are performing.
Impression Share, More Like Impression Snare
This is one of the easiest traps for new advertisers to get snared in. Impression Share shows as a percent and is the number of impressions you’ve received divided by the estimated number of impressions you were eligible to receive. You can lose Impression Share based on your budget or your Ad Rank. While it’s certainly important to keep an eye on – after all, you want to make sure your ad is actually showing – Impression Share is not all it’s cracked up to be.
Impressions are important, but they are really just the tip of the iceberg. For example: If you’re looking to drive conversions, which most advertisers are, then what good are a million impressions if none of them convert? If you want more impressions, we’d suggest adding to/adjusting your keywords, employing A/B tests, Display Remarketing or Remarketing Lists for Search Ads, or even simply expanding your geography. Each of these is likely a better investment than throwing money on top of a poorly performing campaign in search of more impressions.
We can keep this one short, as clicks are similar to impressions in that they are certainly important, but only if they’re contributing to conversions. Imagine telling your boss you got 5,000 clicks last month, but didn’t sell a single product. He’d likely argue that it wasn’t a good investment. Again, focus on the bigger picture and take a look at the Click Through Rate (CTR) and Conversion Rate of your campaigns. They’re more likely to be representative of the performance as a whole. If your ads have a high CTR and are converting well, you’re pretty set.
Average Position is Just That
Average Position describes how your ad typically ranks against other ads. The problem is that it’s an average and can, therefore, be misleading. You may have an Average Position of 2 and think that your ad typically sits pretty at the top of the page, when in reality it could spend a hefty amount of time below the fold and may never actually land in the number 2 position.
Most advertisers focusing on Average Position do so because they’re shooting for the number 1 spot. The fact is, though, that many advertisers find that their ads perform better in positions other than 1. If you have a higher CTR and conversion rate in the third position than the first, there’s no point spending money for the top spot just so you can boast about your high position. Again, think big picture.
Bounce Away from Engagement Metrics
You may be digging through your campaigns one day and find that you have a high Bounce Rate or low Engagement. Don’t worry, the sky isn’t falling. Remember that the entire purpose of your campaigns is to reach your customers at just the right time, providing exactly what they need. Looking at it that way, if I search for tennis shoes, click an ad for the shoes I like, and am taken to a page where I can purchase those shoes, chances are I’m not going to be too “engaged” with that site. Instead of clicking around the website, I’m likely to submit my order and “bounce.” That’s why engagement metrics aren’t all they’re cracked up to be. If your ad does its job of taking the individual to its linked page, then they shouldn’t have to engage much with your site anyway.
Cash Is King
Remember, traffic is important and all metrics matter, but your primary focus should be on your ROI and ROI-related metrics. You’re investing money into Paid Search campaigns ultimately hoping for a return on your investment, so don’t sweat the small stuff. If you need help getting on the right track, the Paid Search experts at Opportunity Max are happy to help.