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PPC: Which Metrics Need Tracking Most in 2024?
Pay-per-click (PPC) has evolved practically beyond recognition, since the early days of throwing money at Google to promote your pages. And while this has all been happening, some key PPC metrics have endured, while others have become much less meaningful. If not, all-but redundant.
Still, the potential for PPC to deliver stellar results from even the most modest budgets is as high as it ever was. That is, just as long as you know how to make it work, and which metrics you need to focus on.
So, from a 2024 perspective, which are the most vital PPC metrics you need to know about, and why?
Return on Ad Spend (ROAS) - Still crucial in 2024, ROAS shows revenue generated per ad dollar/pound spent. Advanced attribution models now account for complex customer journeys across multiple touchpoints, providing a clearer picture of campaign value.
Customer Lifetime Value (CLV) to Customer Acquisition Cost (CAC) Ratio - This metric compares total customer value over time to acquisition cost, helping businesses make smarter decisions about targeting and spend allocation for long-term profitability.
Quality Score 2.0 - An evolution of Google's Quality Score, now incorporating factors like page load speed, mobile responsiveness, and user engagement. High scores lower costs and improve ad placement in the competitive 2024 landscape.
Conversion Rate Optimisation (CRO) Index - Combines traditional conversion rates with machine learning insights to predict potential improvements, identifying high-impact elements in landing pages and ad creatives for targeted optimisations.
Ad Relevance Score - Measures how well ads match user intent, considering semantic relevance, personalisation, and context. Crucial for AI-powered ad platforms, higher scores lead to better placement and lower costs.
Cross-Channel Attribution Score - Assesses how PPC efforts complement other marketing activities, providing insights into channel synergies and helping optimise overall marketing spend in an increasingly integrated digital ecosystem.
Ad Fatigue Rate - Tracks performance decline over time and impressions, signalling when to refresh creative or adjust targeting. Vital in 2024's ad-saturated environment.
Voice Search Optimisation (VSO) Score - Measures PPC campaign optimisation for voice searches, considering natural language processing compatibility and question-based keyword optimisation. Essential as voice-activated devices proliferate.
Privacy Compliance Index - Assesses adherence to stringent data protection regulations, factoring in data collection practices, user consent management, and privacy-preserving technologies.
Sustainability Impact Score - Measures the environmental impact of PPC campaigns, including energy efficiency of ad serving and carbon footprint of advertised products' supply chains. Increasingly important as consumers become more eco-conscious.
If this all sounds like a little too much to take on board, there’s always the option of agency support. Remember – it’s the job of a PPC specialist to ensure you get more from your PPC spend, not hit you with higher costs.
All of which applies just as much to smaller businesses as the bigger spenders on the scene. Whether you’re new to PPC or simply not happy with your current ROI, the right support at the right time really could make all the difference.