As a small business, you need to play smarter to generate the best ROAS out of your PPC campaigns.
But it’s not as basic as increasing your conversion value or decreasing costs.
ROAS optimization should happen in stages. And at Optmyzr, we recommend you break down your ROAS optimization efforts by focusing on specific metrics.
Beginner metrics are for when you want an initial lift. At this stage, you want to track Conversions, Click-through Rate, Conversion Rate, and Quality Score.
These beginner metrics give you an idea of whether your conversions are growing as you optimize at a stage where reducing ad spend is rarely an option.
These are the metrics you want to start tracking after achieving some degree of growth: Cost, Views, Clicks, Impressions, Cost Per Acquisition, Cost Per Click, and Cost Per View.
Tracking these intermediate metrics is ideal for when you start to look at your account performance at a more granular level and begin the process of reducing how much you spend on each user.
Finally, when your campaign is running like a well-oiled machine you want to track Lifetime Value, Conversion Rate by Channel, Absolute TopImpression Share.
The advanced metrics help you better understand PPC’s contribution to the business on a level that goes beyond advertising, and help you optimize when factors like brand awareness and loyalty are relevant.
If ROAS is indeed the metric you want to optimize for and want to learn more about it, check out this article.