Posted by Jen Kaiser, Account Manager
Upon launch of any paid search engagement, it’s imperative to establish proper reporting and the key performance indicators (KPIs) that will be tracked to determine program effectiveness. KPIs are a set of measurable success metrics that should be derived from the marketer’s overall business goals. They should be clear, quantifiable metrics such as: impressions, clicks, actions, conversions and ROI. KPIs should also be tied to budget. Establishing proper metrics to track optimization at program launch is vital to realizing the value of the program. This information will provide you with insight into important areas of deficiency or strength at the start of the program and give you a benchmark by which to monitor progress.
The search goals that are aligned with your KPIs must then be revisited on a monthly basis to ensure account/agency success. Developing 90-day plans by paid search account helps to align tactics to strategies to achieve KPIs. KPIs should be agreed upon between all stakeholders prior to the beginning of the month and then reviewed at month end. Additional forecasting may have to be completed to ensure that KPIs are achievable. Forecasting enables the marketer to know how many clicks or conversions can be driven given a certain ad spend. Forecasting can also help determine optimal spend levels, thus reducing the chance of over-spending and creating waste or under-spending and missing opportunity.
A successful paid search program starts with setting measurable goals based on business needs and market forecasts.