Are you a paid search advertiser still searching for someone to call your Valentine this holiday season? If so, we’re sorry to say we can’t really help you out there – however, we CAN offer some digital marketing tips that serve as a viable substitute.
From conversion rate to pivot tables, there are many paid search metrics and strategies that most all of us have recognized as our favorites. However, there are so many other tactics we can use as advertisers that offer valuable information to optimize our campaigns around, and many of these often go unnoticed. We like to consider ourselves longtime secret admirers of some important yet underrated tactics, but this Valentine’s Day, we’d like to publicly declare our love for the following strategies and KPIs.
Paid search advertisers tend to place a lot of focus on clicks and CTR – which makes sense, as many opt to be charged per click. However, what doesn’t tend to get much attention is what happens after a potential customer clicks on an ad. Bounce rate is a crucial piece of data for optimizations for a few reasons. For starters, this can help you make decisions that increase spend efficiency. Sure, maybe an ad drives clicks, but if people aren’t staying on the page long enough to drive any consumer action, it’s a waste of budget. Secondly, this could bring to light any potential landing page issues. If you find a particular ad has a high bounce rate, that could mean that users aren’t being directed to an effective landing page – or even worse, a landing page that results in an error. With bounce rate, you can get a more complete picture of consumer behavior and deeper information that is absolutely necessary to make smart optimizations.
It can be a dangerous strategy to focus on what your competitors are doing, as it has the potential to place less importance on developing strategies of your own. This – along with being too busy running your own campaigns to care about what anyone else is doing – tends to be a driving force behind many advertisers avoiding competitor insights. However, it can be equally as dangerous to lose sight of how your competitors are performing. For this reason, competitor analyses are imperative so that paid search marketers can have a more complete set of data to consider when making optimizations. Auction Insights offer solid high-level information as to which competitors are overlapping your ads – or, even worse, are outperforming you in the auction. However, tools like Spyfu let advertisers take a deeper look at your competitors’ top keywords and ads.
A lot has been said about how to structure a campaign, but there isn’t as much thought put into how to name them. It certainly won’t make a difference as far as performance goes, but when it comes to looking into performance, it’ll make all the difference. Creating a naming convention that is descriptive and consistent allows you to easily sort and filter through a long list of campaigns and ad groups. Trust us – you’ll thank us the next time you have to pull any kind of report.
With paid search branding itself as a more targeted, cost efficient option than traditional media, it’s rare that digital marketers look to leverage it for brand awareness. It’s all about ROI, and since impressions don’t indicate any interaction with your ads, we don’t tend to worry too much about them — unless they drop off dramatically, but that’s a different story. However, it’s possible to focus on building brand awareness through impressions without losing sight of ROI. Conversions per impressions, or CVPI, is a great way to determine how to get the most possible consumer action out of the impressions you receive. This metric is especially helpful for your campaigns that have 100% share of voice, likely your branded campaigns. If you’re capturing impression share and outranking your competitors, CVPI allows you to determine that you’re not compromising efficiency to do so.
Happy Valentine’s Day to you all, and we hope these underestimated strategies and your paid search campaigns are a match made in heaven!