So do clicks and impression matter?
For years digital media vendors have been boasting about the number of impression they served or the number of clicks their campaigns generated.
Well, I have to admit that a click doesn’t happen without an impression, and a website visit doesn’t happen without a click. So yes, they matter but if you’re measuring the effectiveness of your campaign with these two metrics as your yardstick, you may be selling your campaigns short.
Here are the metrics that matter to me:
- Cost Per Conversion
Conversion types vary from one company to the next but are often quantified by inbound leads (form fills, phone calls, chats), number of pages viewed and website sale transactions. I’d rather pay a higher cost-per-thousand or cost-per-click if I can drive a lower cost per conversion.
- Conversion Rates
This is the % of website visitors who visited your website or landing page and converted. This is an important number as it tells you how relevant your web traffic is and how well your website or landing page is doing in getting a visitor to take the action you desire them to take. You can drive droves of traffic to your site but if your conversion rates aren’t in line or better than industry averages, you might be driving irrelevant traffic or your site may need some conversion optimization.
- Click-Through Rate
Yep, this is an old standard but it’s a good metric to monitor and improve as it’s a barometer for how well you are targeting your best potential customer and the relevancy of your ad messaging. Here’s a great resource to see if your CTRs are in line with industry standards. If your click-through rates are low, it may be an indicator that you can drive more traffic by testing different ad copy and/or changing your online audience targeting.
- Cost Per Conversion
There you have it…impressions and clicks matter because they are a necessity to drive conversions but there are other metrics that are more important. Let me leave you with a final question; would you rather pay a little more for a click if it was going to drive better conversion outcomes? Would you rather pay a higher CPM and deliver less impressions if it resulted in more leads?
If I were you I’d probably say “give me low cost impressions at a low cost per click and high lead volume” but we don’t live in candyland!