Are you having trouble showing off the success of your online ads? Here’s a simple way to set goals and measure progress at each stage of your advertising journey.
Understanding Goals and Measurements
To start, it’s important to know the difference between goals (KPIs) and measurements. Goals are what you want to achieve, while measurements are the data points that show how close you are to reaching those goals.
For example, if you want more people interested in your product, your goal is to increase qualified leads. Measurements, like conversion rates and new users visiting a specific webpage, can tell you how well you’re doing.
Tailoring Goals to Each Stage
Online ads can help with many things, so it’s crucial to choose goals that matter for your business. Instead of applying the same goals to all ads, customize them based on where they fit in your marketing journey.
Why Matching Goals to Funnel Stages Matters
Although online ads can benefit the final steps of marketing, relying only on that is a mistake. Ads can work at every stage of the marketing journey if you set them up right and measure them with goals that make sense for that stage.
Top of the Funnel Ads
Goal: Create awareness.
Measurements: Impressions, Cost per mille (CPM), Click-through rate (CTR), Engagements.
Mid-Funnel Ads
Goal: Find interested users.
Measurements: Micro conversions (like demo sign-ups), CTR, Bounce rate, Engagement rate.
Bottom of the Funnel Ads
Goal: Drive actions like purchases.
Measurements: Primary conversions (form submissions or purchases), Conversion rate, Cost per acquisition/conversion (CPA), Return on ad spend (ROAS), Average order value (AOV), Cart abandonment rate, Item quantity.
Making Sense of Metrics in GA4
Consider how you measure success. Google Analytics 4 (GA4) can help, and it defaults to a data-driven attribution model.
Aligning Metrics with Business Goals
Sometimes, your business goals match specific measurements easily. Other times, you might need to be creative. Avoid setting measurements that don’t contribute to success, and always explain how your measurements support the overall goals of the company.
Final Tips for Success
Your advertising goals should connect directly to your business objectives. Avoid setting the same goals for all ads – tailor them to the specific stage of your marketing journey. Your future self will thank you, and your boss or client will be impressed with your personalized approach.