Your Key Performance Indicator (KPI) is your yardstick of success. Yet, many marketers are unclear how to whittle down hundreds of data points into just one or two indicators of a successful programmatic campaign. While there is no set-it-and-forget-it formula, we’ve generated a chart that will help you understand how to choose the right KPI for your next digital campaign.
Possible KPIs Include
- Impression delivery
- Click delivery
- Efficient Metrics (effective CPC, effective CPM, effective CPE, effective CPA)
- Time on site
- Video completions
- Conversions (form fills, dealer locates, survey completes, chats, etc.)
Choosing the Right KPI
There may be many different objectives that you are trying to achieve as a business. The best way to figure out your main KPIs is to first decide who your audience is and how you want them to interact with your site.
Once you know your main objective, you can build your funnel. For example, if you are a new business your audience will probably be new users who have never been to your site before. This will dictate your funnel, which will be focused on upper to middle funnel KPIs. You want your customers to grow affinity towards the brand (primary KPI: video completions) and then spend time on your site getting to know you (secondary KPI: Time on Site). With this, you may want to run a native video campaign and build a retargeting campaign off of users who complete the video, serving them a native ad and ultimately, driving time on site.
Align Your KPI to Your Business Goal and Your Chosen Tactics to Your KPI
You should have a maximum of 2 KPIs per campaign – Primary and Secondary – aligned to a singular business goal. Part of deciding on these KPIs and effectively reaching your chosen business goal is to ensure you are using the correct tactics in order to get there:
- Display Banner: Viewability, Clicks to Site (CTR)
- Pre-Roll Video: Video Completion Rate (VCR)
- Outstream Video: Clicks to Site (CTR)
- Livestream Digital Audio: Audio Completion Rate (ACR)
- Native Prospecting: Clicks to Site / Time on Site (CTR, CPE, Time on Site)
- Native Retargeting: Clicks to Site / Time on Site / Conversions (CTR, CPE, CPA)
For more tips and best practices, check out all our blogs
Drop us a line at Sales@PrecisionReach.com or call Bob Schenck at 847-778-1886