The trick question for anyone running ad campaigns: How do you measure performance? What do you look at when you need to decide if a campaign or an ad is performing or underperforming?
First level: clicks & CTR
CTR is an attractive metric as you get results fast. If your reporting is quickly updated, you get to see clicks and impressions within hours of launching your ad campaign.
However, CTR is a poor metric to use for measuring performance. Here’s why:
- about half of your visitors will bounce for various reasons: landing page is too different from the banners, banners don’t promote the offering correctly, or fraud clicks.
- only a small fraction of the people who click actually get to convert.
Don’t get fooled by CTR. If your ads are getting clicks, but the clicks aren’t turning into sound results for your business, what’s the point in getting them?
Next level: conversions
The next (and possibly highest) level of performance is holy grail of your online advertising campaign: conversions. It might be a sale or it might be a brand new hot lead, but ultimately that’s why you’re advertising: to get more conversions.
Still, most conversions don’t happen on the spot. Customers might not be ready to purchase right then or your lead gets distracted before submitting the form. It takes some time until you get information on which of your ads convert. In the meanwhile, your ads are running and costing you money.
So, is there anything in between that you can use to measure performance?
Introducing Bannersnack engagements.
Any conversion, whether it’s a sale or a new lead, starts out as an interaction with your landing page. And that is exactly what engagements tell you: if an user that clicked your ad also interacts with your landing page.
If an user interacts with your page, it means that he found what he was looking for and he’s interested in what you have to offer. Not only that, but he’s also one step closer to converting.
Engagements help you get results sooner and help you decide which of your ads actually performs. Also, they are recorded only once per user, so you don’t need to worry about your results.
How can you track engagements?
With Bannersnack Ad Campaigns, engagements are tracked by default for all the ads you add to a campaign. All you need to do is install the tracking code.
Not only do you get to see engagements, but the reporting also features engage rate – the ratio of engagements to the number of clicks.