As Digital Marketing Grows and becomes complex it will pave way for marketing automation. Since a large number of metrics are involved in the overall goal accomplishment, it will be difficult for individuals to manage personalised message to every potential customer depending on their sale funnel journey.The same automation would also apply to your Google adwords campaigns and hence the need to implement automation bidding to Google Ads campaigns.
Just an automation rule for avg position or a CPC metric will not suffice the purpose, its important to understand all other metrics involved and their relevance at different stages of business cycle, this video is about understanding all those metrics involved in decision making to automate your Adwords Campaigns.
Key Metrics For Your Adwords Automation Strategy
- CPC– Cost per click is the amount of money you actually pay per click, however your CPC is a function of competition and you would have little control on it. All other costs are calculated atop your CPC.
- CTR– Click through rate is the percentage of times your ads are clicked with respect to the number of times they had appeared, often a High CTR is a desired to attract more potential customers.
- Conversions– is the absolute number of times your ad clicks resulted in a goal completion. This is an imporatnt metric for business looking to increase customer base. A high number of conversion is a good metric for a startup business however this metric without a cost consideration could be incomplete.
- CPA- Cost Per acquisition is when you attach the cumulative cost of all clicks involved to achieve one conversion. This is where you start attaching your cost with revenue generate.
- ROI- Return on investment is the amount of money spent to achieve conversions with respect to the value of sales generated by them .
- Profit– Different products from business would have different profit margins and hence absolute profit, profit percentage, profit vs cost could also be a metric at different stages of business.
- SIS– Search Impression Share is the number of times your ads have appeared for your keywords with respect to the overall potential of impressions. Missed impression share means missed business opportunity. Hence automation rule could include impressions share metrics as well.
- Avg Pos is the average of positions your ad was shown on the search results and is important to ensure you have a chance to sell yourself to a potential customer. A bid increase automation rule should definitely have this as one of the mandatory conditions