Understanding Metrics for Year Over Year Growth

Posted Friday, February 23, 2024

By: Chris Hudgins

Understanding Metrics for Year Over Year Growth

Hey there, it's Chris, your go-to Customer Love Agent at Impakt! Today, I want to chat about something that's crucial for your business but can sometimes feel like a bit of a headache: metrics. Specifically, let's dive into the world of ROAS, CTR, and individual campaign performance. Trust me, getting cozy with these metrics is your golden ticket to year-over-year growth.

First up, ROAS – or Return on Ad Spend. 

Think of it as your marketing efforts' efficiency rating. It tells you exactly how much bang you're getting for your buck. A healthy ROAS means your campaigns are hitting the mark, bringing in more revenue than what you're spending. It's one of the best metrics for measuring ecommerce marketing success.

Next, the CTR – Click-Through Rate. 

This little gem shows how compelling your ads are. It's the percentage of people who click on your ad after seeing it. High CTR? Your ad is a showstopper. Low CTR? It might be time for a creative refresh. Remember, captivating ads lead to more clicks, which lead to more conversions. It's a simple formula for success.

Lastly, let's talk about individual campaign performance.

This is where you get down to the nitty-gritty of what's working and what's not. Analyzing each campaign helps you understand your audience's preferences, allowing you to tailor your strategies for maximum impact. It can also help you determine when it's time to shift around your spend so your healthy campaigns get boosted to new heights, while a lower-performing campaign is put on standby until a creative refresh us ready.

Understanding these metrics is not just about numbers; it's about growth, strategy, and connecting with your audience in meaningful ways. So, let's embrace them, learn from them, and use them to propel your businesses to new heights!

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