The six KPIs every brand marketer should keep a close eye on
There are several ways to measure the success of a digital marketing campaign however, these six measurements will ensure you stay focused on achieving your goals.
- Return on Ad Spend (ROAS)
ROAS measures how many revenue dollars are generated per marketing dollar spent.
ROAS = Revenue generated/media investment
- Audience Reach & Frequency
Reach and frequency are often calculated in tandem to give the marketer an understanding of the size of their audience pool and how often that audience is exposed to the message.
Audience reach is defined as the number of people exposed to your advertisements.
Frequency is the number of unique times someone in that audience is exposed to the message. This measurement prevents both over- and undersaturation of the same audience and ensures cost efficiency.
- Cost Per Acquisition (CPA)
CPA is the aggregated cost to acquire a new customer. This measurement takes into account the media costs required for a user to complete the desired action.
- Cost per 1,000 impressions (CPM) and viewable CPM (vCPM)
CPM measures the cost per 1,000 impressions. In other words, the number of times an ad is served. It is clearly distinguished from vCPM which measures the cost per 1,000 viewable impressions, i.e., how many times an ad is actually viewed by a user.
- Viewability Rate
Viewability rate is measured as the percentage of ads that are seen by a user. Marketers often optimize toward viewability as it is a strong indicator of efficacy. An ad that isn’t viewed within the parameters set forth by standard viewability won’t do you any good.
- Conversion Rate
The definition of a conversion varies from campaign to campaign ranging from whitepaper downloads, to newsletter subscriptions, to making a purchase. Conversion rate = Number of conversions/Total number of visitors.
Continuous measurement of these KPIs can be tedious, if not impossible to manage manually. To overcome this challenge, many marketers are turning to marketing intelligence platforms that automate reporting across multiple platforms. For example, Panoramic synchronizes data from marketing platforms such as Facebook, DBM, Google Analytics, Twitter, HubSpot, Marketo, The Trade Desk, and many more to provide a complete view of marketing performance – all within a single platform. It even maps the data enabling an apples-to-apples comparison across platforms making real-time decisioning on where to spend marketing dollars possible.