When running an ABM campaign, you shouldn’t neglect your advertising efforts. Otherwise, you could miss out on a lot of potential customers. If you want to know how to determine that your ABM campaign’s Google ads campaign is a success, then knowing the right metrics helps. That’s why we’ll be covering which key metrics are worth evaluating.
What is account-based marketing (ABM)?
Before we head over to critical metrics in your ABM campaigns, let’s first cover what ABM is in the first place.
Account-based marketing (ABM) is a strategic approach to B2B marketing that focuses on targeting specific accounts with tailored messages. ABM allows marketers to create personalized experiences for their target accounts and build stronger relationships with them which is more crucial for B2B businesses.
It is an effective way to reach high-value prospects and increase conversion rates. With ABM, marketers can get more out of their marketing efforts by focusing on fewer, more valuable accounts.
To help you with this, you usually need a reliable ABM Advertising Platform to consolidate your data and run your ABM marketing and advertising campaigns in one place.
A closer network is crucial for any business involved in or engaged in transactions with other companies. With B2C businesses, there isn’t as strong an emphasis on specific accounts. Therefore, ABM marketing and advertising will work well with B2B businesses.
Key Metrics for Measuring Google Ads in ABM Campaigns
Now that you know what ABM is, let’s move on to the key metrics you should focus on when running Google ads for your ABM campaign.
Ad Engagement
Ad engagement would be when a potential customer interacts with or engages with your ad in some way. For example, they might have watched your video ad briefly.
Measuring ad engagement can identify which Google Ads campaigns are performing well and which ones need improvement to optimize the ABM campaign. By measuring ad engagement, you can gain insight into the effectiveness of your Google Ads campaigns, which can help you make better decisions about how to allocate your budget.
Additionally, measuring ad engagement allows you to track the ROI for each ad and adjust your budget accordingly. It lets you know whether your target audience is resonating with the content of your ads in the first place. Otherwise, you might need to shift gears.
Digital Ads CTR
Another KPI or key point indicator that lets you know whether your target audience or target customers are engaging with your ads is by looking at your ads’ click-through rate or CTR.
By tracking the click-through rate, companies can better understand how their Google ads campaigns are performing and which ads are generating the most engagement.
This data can help you improve ABM campaigns and optimize ad spending. Additionally, it allows them to identify which accounts are more likely to convert and target them with more precise messaging.
Once you identify which ads have a higher CTR, you can then divert more of your ad budget to these ads so you’re spending money in the right places.
Conversion Rate (win rate)
One of the most important KPIs you should measure for your Google ads campaigns would be your conversion rate or win rate. The conversion rate measures the rate with which your target customers did the action you wanted. Therefore, this “action” or “goal” differs per campaign.
Your conversion rate will help you determine the effectiveness of your ABM campaign in the big picture and make adjustments to improve its performance. By tracking the conversion rate or win rate, you can identify which keywords are performing well and which need improvement.
Furthermore, this data can also help you differentiate between clickable ads and ads that lead to the desired action. After all, if your ads get people to click but not convert, there may be an issue with where the ad shows them after they click on it. That’s just one of the many ways you can interpret that.
Cost per click (CPC)
The cost per click or CPC pertains to how much the advertiser pays every time someone clicks on their ads with Google. What you need to measure here isn’t precisely the CPC, as you will be setting that yourself. It would be best if you calculated how much the average CPC you rack up in your ad campaign.
Knowing your average CPC helps you adjust bids, optimize campaigns, and improve ROI. If you’re paying a lot less than your competitors, then that may be why you’re not having more eyes than usual on your ads. On the other hand, it can also let you know if you’re paying way more than you need to for a particular ad.
Cost Per Conversion (CPC)
The cost per conversion, abbreviated as CPC, which can be confusing, is similar to the cost per click. In this case, the CPC would then refer to how much you spend on an ad before your target customer does a desired action. You can calculate it by dividing total ad costs by total conversions.
Knowing this metric can also help you optimize your ad spending the same way as knowing the cost per click.
Return on ad spend (ROAS)
Of course, you need a metric that lets you know when your ad campaign has achieved success, and one way to do that is by looking at the ROAS or the return on ad spend. It shows you the overview of how much revenue you could get from the ad campaign entirely.
For example, if you spent a total of $500 on ads but were able to get a profit of $1500, then you’re in the green, and your ad campaign is a success.
Quality Score
Google ads make it easier for you to determine how likely your ads will be successful by giving you something called the Quality Score. The Quality Score shows how Google sees your ads in terms of their relevance and overall quality. They also use it to determine your cost per click and your potential max bid on an ad in the auction process.
It’s a good idea to pay attention to this score and ensure that you consistently score highly to avoid pausing your ad campaigns all the time.
Conclusion
These metrics provide you with multiple angles
to view the successes and failures of your Google ads campaign so that you can
modify and adjust it to your advantage. Next time you need to run ads for your
ABM campaign, remember these metrics.
If you have any doubt related this post, let me know