8 Key Advertising Metrics for Your Online Business
When it comes to advertising, there’s a range of options. The type you choose depends on your company’s objectives, the amount of time and money you’re willing to invest, and the speed of the results. In this blog, we’ll explore 8 types of online advertising channels as follows:
1. Websites
A website is an advertising representation of your brand, serving as a digital shop window, brochure, and marketing tool acting as the first point of contact between you and your audience. Some advantages include:
• Reaching a wider audience
• Helps target a specific audience
• Tracks the ad’s effectiveness
Websites tracking metrics include customer acquisition costs (CACs), click-through rates (CTRs), cost per thousand (CPMs), and conversion rates.
2. Email Marketing
Email marketing advertisement helps reach your customers. It helps create brand awareness and relationships with your clients. You can utilize it for:
• Driving sales
• Improving customer engagement
• Offering discounts or coupons
• Showcasing new products/services
• Providing valuable content
The metrics include open rate (CTR), unsubscribe rate, spam complaints, and bounce rate.
3. Social Media
Social media helps you reach and engage a large audience while building brand awareness. It helps build trust with your followers by providing them with helpful information or answering their questions. Notable benefits include:
• You can focus on a specific audience
• It helps build brand awareness
• It’s affordable and measurable
• Helps in generating leads
• Increasing sales
Social media platforms offer valuable metrics like clicks for tracking your ads’ effectiveness.
4. Influencer Marketing
Influencer marketing is partnering with influential people in your industry to help promote your brand. The concept identifies a group of individuals trusted by potential customers and connects them through social media platforms. Some benefits include:
• Helps reach your target audience
• Affordable
• Cross-promotes products/services that might not be related to one another
Using this advertising channel has several metrics, including Impressions, Clicks, and Conversions.
5. Search Engine Optimization (SEO)
SEO is a handy tool that boosts your site’s visibility in standard search engines like Google in unpaid results. It helps your site:
• Enjoy more traffic
• Increase its popularity/visibility
• Rank much higher
You’ll achieve notable metrics like cost per conversion, CTR, impressions, and conversion rates.
6. Search Engine Marketing (SEM)
SEM is another advertising channel that uses paid marketing to boost your site’s traffic. It incorporates SEO and pay-per-click ad channels. Advantages of using SEM include:
• Ability to reach customers
• Flexible pricing
• Measurable results
You can track several metrics when using SEM like impressions, conversion rate, cost per thousand impressions (CPM), cost per click (CPC), and cost per sale (CPS).
7. Video Advertising
Video advertising helps reach your target group or audience. The ads appear on publishers’ websites, and apps or are played before, during, or after a video clip. Some benefits of this channel include:
• More clicks
• Higher engagement rates
• Better page views
• Increased purchase intent
• Higher time spent on app or site
Video ads help track metrics like views, clicks, and conversions.
8. Pay-per-click (PPC) Advertising
When your ad is clicked, PPC marketing lets you pay a fee or amount. You pay when someone interacts with your ad ensuring that you’ll only spend money on clicks from people who want to see the things you’re selling. Some pros include:
• You can target specific keywords or phrases
• It’s easy to set up
• You can control the CPC
• Simple ad campaign set up
The metrics of using PPC include click-through rate and impressions.
Conclusion
And while we’ve covered a lot of different channels here, this is by no means an exhaustive list. Many other advertising channels are available, and new ones are being created daily. You can contact Today’s RDH to help you choose and focus on the best advertising channel for your business.