2023’s Essential Key Performance Metrics For Every Performance Marketing Agency In Kolkata
In the ever-changing face of digital marketing where the customer’s needs and expectations are constantly changing and evolving and the competition is getting steep every day, having a performance marketing agency by your side is extremely crucial for your business’s digital success.
At TechShu, the leading performance marketing agency in Kolkata, we stand as thought leaders in this industry with 17 years of strong knowledge and expertise in the digital marketing landscape. We believe in providing a comprehensive performance marketing solution meticulously designed to help you achieve your business goals. As an expert in providing performance marketing services in Kolkata, in this blog, we are going to highlight the critical 6 metrics on which a performance marketer should focus to deliver the optimum performance.
1. Clicks and Impressions
When a user interacts with your ad and clicks on it he lands on your landing page, the action is recorded by the ad platform. By analyzing the number of clicks you will be able to find out how people are reacting to your ad. Most of the ad platforms charge for the click even if the user was not able to reach your landing page due to some technical glitch. Therefore there could be ambiguity in the data and it may not represent the actual result.
In such scenarios, you can use Google Analytics to cross-check and find out the actual number of people who were able to successfully reach your landing page.
The number of times your ad is shown on a website or a mobile app is called an Impression. For example, if your ad is shown on a website ten times and it manages to grab the attention of online visitors five times then your number of impressions will be 10 only. The number of times an ad appears on a platform doesn’t make any difference if it is not able to attract visitors.
However, the idea here is to gather clicks and impressions data and then filter and process it on the basis of various parameters such as the nature of your campaign, target customers and various other technical aspects.
2. CTR
The click-through rate (CTR) helps performance marketers identify which ads are giving the best returns and which ads are not performing as per expectations. It also helps determine which paid ad campaigns can perform more if the budget is increased and which ads should be stopped because of negative returns. CTR is calculated by dividing the total number of clicks your ad received by the total number of ad impressions.
3. Cost Per Click
Cost Per Click (CPC) is calculated by dividing the total cost of ad clicks by the total number of clicks your ad received. As we already know performance marketing mechanism is dedicated to driving conversions such as generating leads, sales and digital downloads therefore through CPC a performance marketer finds out how much they are paying for each click which is an important step on the path of getting conversions. Also, When you compare the conversions against the cost per click you are able to identify which keywords and campaigns are performing better and where you need to improve.
4. Cost Per Mille
Cost Per Mille (CPM) is the price an advertiser pays on every 1000 impressions of their ads. Performance marketers can use CPM metrics to compare the cost of various advertising campaigns and also monitor the effectiveness of the ads. Let us understand how CPM works with a very simple example: Suppose you want to run a display ad campaign on a very popular website. The website owner is charging a CPM rate of $4. You as an advertiser set the budget for CPM of $200. This means that your ad will be displayed 50,000 times.
As an advertiser, you can use these metrics to identify the effectiveness of your ad and also fix a budget for your upcoming marketing campaigns.
5. Conversions
When online audiences watch ads or read your ads the next thing you want them to do is to click on the CTA button and jump to the landing page or website to sign up for your newsletter, or make a call or message to your business, or complete an online purchase.
Conversion metrics help performance marketers in a number of ways:
- A Performance marketing agency or an organization uses various channels for marketing such as email marketing, video marketing, social media marketing and PPC. The conversion rate metrics can help the performance marketer identify which channels are providing the best returns.
- Conversion rate metrics provide a clear picture of the ROI being generated by the marketing campaigns. Therefore it helps in budget allocation.
- If an agency is running an email marketing campaign and they identify low conversion rates they can try to improve the quality of their emails by experimenting with the subject line, the content of the email and the CTA button.
- If a keyword is providing high conversion in a paid ad campaign, the performance marketer can increase their bid on that particular keyword to present the ad in front of more people.
6. Cost Per Conversion
Cost per Conversion is your total ad expenditure divided by the total number of conversions you generated through the ad. A very important metric which tells you which of your ads are giving you the best return and which ones are not performing well. You can audit your ads and experiment with the graphics, ad copies, landing pages and CTAs to optimize your campaign to give better results.
Searching for quality performance marketing services in Kolkata?
As a leading performance marketing agency in Kolkata, we have a solution-oriented approach to help you reach, engage, and convert audiences effectively. Our goal is to get leads for your business & and increase your sales funnel.
If you want to know more, please write to us at: https://www.techshu.com/contact-us/ and let us know how we can help you.