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3 Key Metrics for Monitoring the Performance of B2B Google Ads

More than 70% of B2B buyers use search engines to research their purchases. A Google Ads campaign is a quick way for your business to reach these potential clients, and turn them into leads.

With Google Ads, businesses bid on the terms that people are actively searching for, effectively reaching the people that want the products or services that the business provides. By creating a high-performing Google Ads campaign, you can stop wasting budget on less targeted marketing campaigns, and focus on connecting with buyers who are looking for what your business provides.

But, how do you create a Google Ads campaign that gets results? Through learning and optimising your campaign.

There are hundreds of Google Ads metrics available to marketers. However, some are more effective than others in optimising a campaign. It’s also typically more effective to look at metrics together and analyse how they impact each other. The following are some of the metrics to look at as a starting point.

1. Cost Per Conversion

Cost per conversion is simple to calculate but is extremely effective in measuring the success of a campaign. Cost per conversion is calculated as follows:

Campaign Cost / No. of Conversions = Cost Per Conversion

This is an important metric for all campaigns, as it can quickly show which campaigns are performing well. In order to use this metric, you have to determine how much you are willing to spend to attract a customer or lead to your website. This is your ideal cost per conversion. Once you know this figure, you can look at your Google Ads account and identify which campaigns or AdGroups have a cost per conversion that is too high, i.e. a cost that is too expensive for the margin you will make on the product. Looking at your campaigns and AdGroups, you can determine which are bringing the average up or down, and adjust the budgets for each campaign accordingly.

Remember that not all conversions are equal, and it is important to assign different values to different conversions. For example, a person downloading a whitepaper is likely to be less valuable than a prospect who is directly submitting an enquiry, as the latter is further along the buyer journey.

2. Search Impression Share

While your ads are set up to show when a searcher types in keywords that are relevant to your business, they most likely will not be shown 100% of the time the opportunity is available.

Search impression share tells us how often ads appear compared to how often they could have appeared. So, if there were 100 opportunities for the ad to be shown, and it showed 75 times, this would be a 75% search impression share.

This is an important but often underused metric. Businesses want their ads to show up at every opportunity, so you want this number to be as high as possible.

Some of the factors that affect this metric are the budget allocation and quality score. If you are not reaching your maximum budget, it is likely that the quality score is affecting your ability to show ads. As such, optimising the campaign is the most effective way to improve this metric. For new campaigns, it is common to have a low search impression share, particularly in competitive industries. However, as you collect more data from your campaigns and optimise them, you can monitor your search impression share and ensure that it is moving in the right direction.

Search impression share lost due to budget is a metric that comes directly from Google and is useful in that it can identify which campaigns or AdGroups may be easier to scale. The higher your search impression share is, the more likely you are to get additional conversions simply by increasing your the budget.

3. Direct Conversions from Ads

Conversions don’t always need a landing page. For example, a “call extension,” where the clickable phone number is placed on the ad. If someone clicks on the phone number, this will be counted as a direct conversion from the ad.

Having a clickable phone number on the ad is one of the quickest ways to get customers to your business. It is most effective in circumstances where the context of the query and intent of the searcher is clear, i.e. when the searcher wants to quickly connect with someone who can solve their problem.

In order to generate this type of conversion, the ad copy should clearly address the searcher’s need. Bear in mind that this metric is only valuable if getting phone calls is important to the business. If not, it’s better to set up ads without the option to call directly.

As we said before, don’t rely on one single metric to determine the overall performance of your campaign. Instead, take the single metrics that are important to your business and use them as a starting point. If you see something out of the ordinary, analyse it further to find out why that has occurred and how you optimise the campaign to improve its performance.

For more information on optimising your Google Ads campaign, don’t hesitate to get in touch. The Lead Agency is a specialist B2B digital marketing agency. Get in touch with us for more information on Google Ads advertising, SEO, or your wider digital marketing strategy.

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