Once a clear objective is established, deciding which metrics to focus on becomes much simpler.
For online marketers regardless of industry, the major bonus of going digital is the possibility to trace virtually any metric with a click of a button. However there are hundreds of different Key Performance Indicators (KPIs), and focusing on the right ones for the campaign at hand can be a difficult and confusing job. Digital marketing pioneer and Advertise.com CEO Daniel Yomtobian recently explained the differences between the most important KPIs, what purposes they serve, and how to best utilize them to drive traffic and optimize return on investment.
Daniel Yomtobian asserts, “The first thing any advertiser must do is determine the basic overarching goal of the campaign, which is usually either to raise brand awareness or convert potential consumers”. He explains that once a clear objective is established, deciding which metrics to focus on becomes much simpler, as does tracking the effectiveness of all marketing efforts. If the goal is to raise awareness, then impressions are very important, and performance indicators including raw clicks, page views, and time on site should be monitored closely. If it is to sell a specific product, service, or to encourage download of premium content, Yomtobian emphasizes that cost per acquisition is by far the most important metric to track.
Regularly checking this data provides insight into the effectiveness of digital ads, allowing for marketers to refine their tactics by closely examining which strategies are working and giving them the ability to understand why. This in turn allows for the optimization of the decisive metric in any campaign, Return on Investment (ROI). A positive ROI means a potent, effective marketing strategy and a satisfied client, while a negative ROI indicates a serious and immediate need for adjustment. Yomtobian explained that to calculate the projected return on investment for a campaign, compare the cost per acquisition to the average lifetime customer value. For example, if it costs $100 to successfully attract a new consumer, and on average each spends $200 on the product, that would indicate a 100% projected return on investment, a very healthy profit. While there are a lot of choices of what to track as an online advertiser, the fundamental key is to fixate on the desired goal, and to focus on metrics that attribute to its success.
Daniel Yomtobian is a recognized expert in digital marketing and the founder of several media and advertisement companies, including Advertise.com, the Internet’s leading provider of cost per click searches. Yomtobian founded the business over fifteen years ago with the mission to provide advertisers with quality traffic that converts and publishers with competitive listings that yield high revenues. Today, C-Suite Quarterly, Ernst & Young, and the SFV Business Journal have recognized Yomtobian’s achievements as an innovative entrepreneur and leader in the online world.
Daniel Yomtobian – Ernst Entrepreneur of Online Advertising: http://www.DanielYomtobianInfo.com
Daniel Yomtobian – CEO & Founder @ Advertise.com – crunchbase: https://www.crunchbase.com/person/daniel-yomtobian
Daniel Yomtobian – Facebook: https://www.facebook.com/Daniel-Yomtobian-174812072662757/
Video URL: https://www.youtube.com/watch?v=n3BlOHVAhUk
Release ID: 514126