Today we will cover a simple approach to getting your paid search management in check. Regardless of wether you have been running ads previously or not, this article should give you some fast tips to enable more effective and consistent performance for your paid search accounts.
What is active paid search management?
Active paid search management is the culmination of three core components
- Analytical Creativity
- CPA Analysis
- KPI-driven strategy
The goal with analytical creativity is to continuously develop the narrative with the data that Google Ads/Analytics provides in an effort to identify the key drivers for performance.
Over time, the hope here is that the team and stakeholders who are invested in understanding the data at every angle of an account will be best suited to report these findings and drive successful strategy as levers are pulled within the Google Ads platform.
A “lever” could be anything that impacts performance within the platform or has an effect on the performance of the consumer’s journey when they engage with your digital experience online. The common example is to watch how performs differs when bidding or budgets are adjusted to capture more/less demand across a campaign(s).
What is a CPA analysis?
The CPA analysis or cost per acquisition analysis is conducted at the campaign, ad group, or keyword level to understand the cost to acquiring a conversion.
This analysis is crucial to understanding the relationship between efficiency, demand, and intent. Paid search analysts who are diligent and routinely measure this metric at all levels of a paid search account will have a-lot of success maximizing the available dollars to invest and meeting KPI goals.
KPI Driven Strategy
In every business you have KPIs (key performance indicators) that every stakeholder identifies in order to create a plan to measure success.
In paid search it is crucial that the business KPIs are routinely analyzed to benchmark success.
What are typical KPIs to measure?
Regardless of the business or industry the most common metric to measure are conversions. A conversion could be anything from a sale, email submission, or engagement on the website.
In the early phases of a strategy I would recommend to outline what KPIs your business measures against in an effort to identify what to track.
Once the KPIs are set you can begin to pivot the performance reporting and progress of optimization against goals. Every business must have these goals in place in order to better influence performance and grow the business.