Choosing the right digital advertising metrics to track and measure is crucial to your campaign’s success. If you aren’t tracking advertising efforts correctly, you’ll never know what’s working and what channels to focus your advertising dollars on.
Determining your core ROI goals means you’ll be able to measure data that tells the story of how your target audience interacted with your ads.
Here are a few of the key metrics to track that will help you measure success and determine ROI:
CPA – Cost Per Acquisition
How much does it cost you to acquire a new lead on any given channel?
Knowing the cost to acquire a client for your business is the basis of your marketing budget, so it’s crucial data to add to your ROI analysis. Combined with other ad data, this will determine whether your business will make a profit.
Ideally, you’ll want to get a sense for which mix of ad channels (Search, Facebook, Display) work best for your business. Then you’ll be able to better optimize your ad budget going forward.
Here’s the formula for CPA:
CPA is a simple but valuable formula. Knowing how much it costs to acquire a new lead is key to understanding your ad ROI.
However, we still don’t know the actual value of your client’s customers. The next thing we’ll discuss is LTV, which is essential for further ROI analysis.
LTV – Lifetime Value
Do you know the lifetime value of your customers? You should!
Why? Because this will give you a number that represents an approximation of the revenue a new customer brings in, with all associated costs factored in.
If you know your LTV, you’ll be able to compare it directly to the cost of acquiring a new client through your digital ad campaign.
Here’s the formula you can use to determine your LTV.
CR – Campaign Revenue
Now that we understand how to calculate and analyze the lifetime value of your customers, we’ll be able to track the revenue generated by your digital advertising campaign. As you can see below, you just need to multiply your campaign’s conversions by LTV and closing ratio (50% would be .5).
Why include closing ratio? Obviously, every new lead you generate isn’t going to become a customer, so you’ll need to factor in how often you are able to close new leads to estimate campaign revenue correctly.
ROAS – Return on Advertising Spend
ROAS is an illuminating metric to use for ad campaigns, and a lot of marketers use it interchangeably with ROI itself. However, there are significant differences between the two. What is the difference between ROI and ROAS?
“ROI measures the profit generated by ads relative to the cost of those ads. It’s a business-centric metric that is most effective at measuring how ads contribute to an organization’s bottom line. In contrast, ROAS measures gross revenue generated for every dollar spent on advertising. It is an advertiser-centric metric that gauges the effectiveness of online advertising campaigns.”
So advertising ROAS is much more focused on the results from specific campaigns, while ROI incorporates the bigger picture relative to the business. This means that it’s much easier for you to be tracking and analyzing advertising efforts with ROAS! You know the cost and you can calculate the revenue.
Setting your own benchmarks and campaign goals based on past performance is the best way to proceed with your advertising efforts.
Want to skip all this confusing jargon and let the experts handle your digital advertising? Contact us today!
Businesses on page 2 of the SERP might as well not exist.
It sounds harsh but it’s simply the reality that we all need to accept.
You know the drill—you want pizza so you get on your phone and do a search. Google presents its top 3 local options in the “Snack Pack” and 10 other organic results. You pick one make a call or pop in the pizza joint.
If you’re the local pizza joint, you want and need to appear on the first page for those target keywords. So how do you get them there?
You’ll need to do a local SEO audit to find out. Here’s how to get it done.
Step 1: Audit Keywords
What keywords are you targeting? Step one of your audit should be to determine what you’re currently ranking for and identify any opportunities you might be missing.
For example, if you’re ranking well for ‘Philadelphia Bankruptcy Attorney’ but are nowhere to be found for ‘Philadelphia Bankruptcy Lawyer’, you’ve identified an area to improve.
Start by making a list of services, products, or a page you’d like to drive traffic to. Once you do this you’ll be able to use tools like Keyword Finder to quickly put together a list of high volume local target keywords.
With this list in hand, you can proceed through the rest of your local SEO audit and determine how well these keywords are optimized every step of the way.
Your local SEO audit should include a snooping session to determine your competitor’s SEO status and tactics early on. If you’re located in a highly competitive area where the other top businesses are doing everything right, you need to document what you’re up against.
You don’t need to do a full diagnostic on each competitor, but take a look at the following, and compare that data against yours:
GMB ranking for top keywords
Organic rankings for top keywords
Review quantity and quality
Number of links
In most cases, you should be able to take a look through these items and develop a hypothesis on why your competitor is successful in local SERPs.
The 2017 edition of Moz’ Local Search Ranking Factors Survey ranks Google My Business (GMB) as the biggest driver of local SEO success. If you want to appear in Google’s ‘snack pack’, your GMB listing should be robust, and well-optimized with your core target keywords.
Here are some things to look for:
Do you have a GMB listing? If so, is it claimed and verified?
Is all business information present and correct?
Do you have multiple reviews and a high cumulative rating? Are you responding to reviews?
Do you have appropriate business categories listed?
Do you have images of the business?
Have you created any GMB posts?
Are you participating in the Questions & Answers section?
These are the core elements that make up a strong GMB listing.
Reviews pack a ton of clout in both the local ranking and reputation building arenas. Search engines regard them as an authentic measure of a local business’s popularity and viability. Potential customers trust reviews as an accurate gauge for that business’s quality level.
Getting an abundance of positive, glowing and wordy reviews across multiple review platforms like GMB, Facebook, Yelp, and vertical-specific sites like Houzz, Tripadvisor, and Healthgrades helps you win on many levels.
Local SEO Guide notes that Google does pick up on the keywords people use in their reviews:
“At a high level, having a keyword you are trying to rank for, and a mention of a city you are working to rank in, in reviews has a high correlation with high ranking Google My Business results.”
Helpful Local SEO Tools:
Get and manage reviews with Customer Voice (contact us for more info)
“Google is still leaning heavily on links as a primary measure of a business’ authority and prominence, and the local search practitioners that invest time and resources to secure quality links for their clients are reaping the ranking rewards.”
A diverse array of quality links is crucial for any local business’s link portfolio. This means that you’ll need to evaluate your links, looking for links with:
Industry or vertical topic clusters
High domain authority
Link quality will win over quantity, and quality + quantity will help you dominate the search rankings in your market. On the flip side, if you see a high volume of spammy, off-topic links, you’ll want to make a note of it as a red flag that may be damaging your ability to rank well for your target keywords.
Schema markup is code that goes on a website to help the search engines return more informative results for users. Schema tells the search engines what your data means, not just what it says.
This is a key way to tell search engines exactly what a given website is about, which will help them serve it up on SERPs for the correct search queries.
One way to check to ensure that your site is using schema markup is to enter your URL in Google’s Structured Data Testing Tool You’ll be able to check to see if all the correct info about your business has been included.
To add Schema markup, if it’s a WordPress website, then “All In One Schema Rich Snippets” is a great plugin. For other websites, this is a good tool to create the code.
How frequently is your business mentioned online? Auditing your citations will determine how many online mentions exist of the name, address, and phone number for your business.
It’s important to look into both your structured and unstructured citations. For structured citations, you’ll audit your business listings across the web, looking at social platforms and directories like Yelp, Yellowpages, Facebook, Superpages, and MapQuest. You’ll also need to check to see if their correct business info is listed on the main data aggregators: Axiom, Neustar/Localeze, Factual, and Infogroup.
Next, you’ll need to check your unstructured citations. An unstructured citation can be found on random websites, blogs, event listings, job posting sites, government records or social media mentions. These are unstructured because they could be as simple as a company mention. Usually, these citations don’t include a business’s NAP data.
An audit of the main website pages is probably the most important piece of your entire audit. It doesn’t have to be time-consuming if you have the proper tools though. Screaming Frog is one of many excellent tools that’ll deliver a comprehensive look at your on-page SEO.
With your list of target keywords in hand, you’ll want to run through each page on your spreadsheet looking at the keywords on each page. Specifically, you’ll be looking at:
Even with just this information, you’ll be well-equipped to analyze how well your pages are optimized for local SEO. Plus, you’ll be able to determine improvements and content gaps that might be missing.
Once you’ve evaluated and recorded the weaknesses in your local SEO, you can make use of a host of top-tier SEO plugins to help you do your work.
There are two main components two image optimization for local SEO: keyword usage and how it affects page load speed. You can use ScreamingFrog’s free SEO tool to evaluate both.
Auditing image keyword optimization boils down to evaluating each image’s filename and alt text. Since Google can’t yet tell what visual content an image contains yet, site crawlers rely on things like the filename and alt text to determine what’s being displayed. These are places you should optimize with relevant target keywords.
You can get some big improvements in page load speed when images are optimized to reduce their file size without significantly impacting their visual quality. Using ScreamingFrog, you can take an inventory of all the images on your site and highlight the images that are slowing things down. (There are also image size optimization plugins that resize images automatically going forward.)
“Google’s latest research shows that the chance of a bounce increases 32% when the page load time goes from 1s to 3s. 1s to 5s increases the chance to 90% and if your site takes up to 10s to load, the chance of a bounce increases to 123%. That’s incredible. For search engines, better results and performance is a sign of a healthy site that pleases customers and therefore should be rewarded with a higher ranking.”
Google PageSpeed Insights Tool performs a near-instant audit of a given URL for both mobile and desktop searches. This will give you a quick way to tell if improvements are needed, and a list of actions to take to improve your website speed.
What visitors do when they discover your business online affects your rankings. In fact, David Mihm argues that,
“Engagement is simply a much more accurate signal of the quality of local businesses than the traditional ranking factors of links, directory citations, and even reviews.”
Metrics like organic search click-through rate (CTR), dwell time, bounce rate, and conversion rate are all ranking factors. You can simply use Google Analytics to examine your engagement metrics and compare them to industry benchmarks.
The truth is that we’re not sure to what extent social signals are baked into Google’s ranking algorithm. However, there’s no doubt that a strong social media presence can significantly boost local SEO efforts.
According to Ron Dod of Search Engine Journal, the bigger and more engaged your audience is, the more they’ll boost rankings:
“The bigger your brand is and the more consumers trust you, the more likely you are to receive a larger share of clicks in Google. Social media can be a great and efficient way to help you build your brand and get in front of people who wouldn’t have otherwise found you.”
Therefore, evaluating your social platforms is an essential part of your local SEO audit:
Number of people that like your Facebook page + Facebook shares
Number of Twitter followers + tweets mentioning your brand name
Number of LinkedIn company followers and Linkedin Shares
Performing a comprehensive local SEO audit using the 12 steps I’ve outlined is going to dredge up issues. Finding and fixing any SEO optimization issues you discover along the way is also crucial, as is recording your progress to ensure you’re not missing any vital pieces to the local SEO puzzle.
A good way to get started is to use MarketGoo, which automatically scans a website and generates a step-by-step SEO plan to help you increase your website traffic and rankings.
Once you’re ready to get started optimizing your website for SEO, using Boostability’s and SEO Network‘s SEO packages are key ways to power up your local presence. Justcontact us for more info on any of these products.
Want to skip all this work and let the experts handle your local SEO? Contact us today!