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iStock_000019598369SmallOne of the most important things to do when building a business is set yourself up for success, but sometimes success is hard to define. Let’s talk about what the right KPIs (Key Performance Indicators) for your business are and then define some benchmarks.

KPIs (Key Performance Indicators)

Most of the time retargeting is used as a performance media tactic; two of the most commonly used KPIs to measure performance are Cost Per Acquisition (CPA) and Return On Investment (ROI). Normally a business that sells goods will use an ROI model and a business that sells services will use a CPA model. This can definitely change under certain circumstances.

However, companies don’t always just focus on ROI or CPA. Businesses that are more focused on upper-funnel marketing will likely have goals such as driving awareness,  promoting  in-store purchases, or increasing site traffic. These businesses may focus on KPIs such as increasing reach by maximizing the number of impressions or clicks, while minimizing their CPM (cost per 1,000 impressions) or CPCs (cost per click).

Sometimes it is difficult to choose only one KPI. Some businesses may want to drive a specific CPA, but also want to increase their reach by maximizing their impressions. In order to achieve this, create separate campaigns with specified budgets and a single KPI for each.

Benchmarks

Now that you have chosen a KPI we need to set the benchmark or goal. What number do you need to hit to be profitable?

If your KPI is CPA, then you will need to look into your books and find out how much you are willing to pay for a new customer. What is the lifetime value of a new customer? Or, start small and ask yourself, what is the value of a customer if they only use your service once? Then determine what the retention rate is for customers that have used once and have become returning customers. These answers will help you determine your customer lifetime value. It is okay if your numbers are a little fuzzy here since you are using this number as a starting point.

If your KPI is ROI, things are simpler. You can usually start at $1.00 ROI, meaning you spend a dollar you make a dollar in revenue. Anything above $1.00 ROI will be viewed as profit. If you have specific margins on the cost of your product then you may want to take that into account as well.

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Now that you have defined a KPI for your business and a benchmark you want to hit, there are a few ways you can utilize Perfect Audience to see how we are hitting those KPIs and Benchmarks:

Assigning Revenue Value in Perfect Audience

Revenue Value

Ensuring you have a conversion set up properly in Perfect Audience is critical for executing a successful campaign. There are a few things to consider here. If your KPI is a certain CPA, then you can assign a Revenue Value to each conversion while setting up your goal using the process above.

You can assign a Revenue Value by going to Manage > Conversions > Editing a Conversion Goal.

Calling in Dynamic Revenue in Perfect Audience

Revenue Value

 

If your KPI is ROI, you will want to pass your revenue back to us dynamically. When placing your site tracking tag on your website, make sure to include the “pa.revenue” portion. Perfect Audience will apply the appropriate revenue value to each conversion, and display the total in your dashboard. When you hover over the revenue value you can easily see the Post-Click and Post-View value’s broken out. You can quickly see your revenue at a glance and compare to the cost of the media.

Read more about calling in revenue dynamically here.

Adjusting Attribution in Perfect Audience

Attribution Settings

Another thing to consider when setting up your conversions is your attribution settings. You can set different conversion windows and attribution rates for CTC and VTC. These will be applied to your aCPA in the dashboard.  Keep in mind that your aCPA accounts for your attribution settings. For example, if you choose to give 50% attribution to VTCs, we’ll reflect that in your numbers. You can also hover over the CPA to see the Post-Click CPA at a glance. This can be a helpful indicator of your percentage of Click to View conversions.

Post-Click CPA

Sort Function in Perfect Audience

Utilizing the sort function can help prioritize high CPA campaigns with one touch. Just click on the column heading and it will sort from highest to lowest CPA. You can easily manage your budget by moving money to the campaigns with lower CPAs. In the example below the weekly budget is higher for the most efficient campaigns.

Sort Function

Evaluation

Once you have launched your campaign and gathered some data, you can refine your benchmark.  If you set your KPI too high and you are not meeting your goal, you may need to optimize toward achieving those goals. If you are still not able to obtain the goal, you may need to consider whether or not you’ve set it too aggressively.

Always remember it is important to define your goals prior to launching a campaign.

 

Erin Toth

Erin Toth is a Customer Success Manager at Perfect Audience. She has experience working across all digital performance media channels including paid search, paid social, and display. She loves excel and hates fraudulent traffic.

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Have you ever noticed a typo in your Facebook ad, or decided to use another image after pressing the “save” button?

Up until now, you would have to create a new ad in order for the typo to be fixed. If you wanted to swap out the old image for a new one, you would have to create a new ad, too.

We are happy to announce today that you can now edit your Facebook ads in Perfect Audience, without creating a new ad. Previously, only the name of the ad was editable after save. Now you can change any field in your right-hand side and news feed ads.

Screenshot 2014-09-16 16.59.33

The stats for your ad will continue to be updated after the edit. Please note that the engagements (such as comments and likes) will not be carried over to the updated ad, however.

We hope this update helps to improve your experience using Perfect Audience. Feel free to share your thoughts with us at support@perfectaudience.com or in the comments below.

Brian Cary

Brian Cary is an engineer at Perfect Audience. He enjoys running, making fresh juice, playing musical instruments, and working on his photography portfolio in addition to building software for the web.

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Want to see how 4 of your 9 campaigns are performing?  All of your campaigns except for just one?  Now it’s possible!  Today we’re happy to announce an updated menu in Perfect Audience that gives everyone the ability to view performance across custom campaign groupings.

Using checkboxes, select campaign types or individual campaigns to see how they are performing against one another:

Screenshot 2014-09-12 11.13.35

The graph will then display cumulative stats according to your selection.

We hope you find this update useful! Let us know if you have any questions!  Support@PerfectAudience.com

Brian Cary

Brian Cary is an engineer at Perfect Audience. He enjoys running, making fresh juice, playing musical instruments, and working on his photography portfolio in addition to building software for the web.

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We are excited to announce that you can now set the lookback window for a list in a campaign down to the hour!

Perfect Audience Image 1 UPDATE
Perfect Audience _ Retargeting Window _ Image 2
One scenario where this new functionality is extremely useful is when you want to only target a visitor during the first three hours after they visit your site. By placing a higher bid and only targeting your freshest visitors, you may see a lift in ad performance. Having this enhanced lookback window will be key for your Retargeting efforts during this upcoming holiday season (Black Friday, Thanksgiving, Christmas).

To use this feature today all you have to do is log into your account and click either the ‘Launch new campaign’ button or edit an existing campaign.

If you need a refresher on how optimizing lookback windows can help boost CTR and conversions,  check out this video or Knowledge Base article.

We hope this was helpful for you! If you have any questions about this new functionality, please let us know at support@perfectaudience.com.

 

Ryan Lavery

Ryan Lavery is the Customer Success Manager for Trials. With over 5 years of Digital Marketing and Account Management experience, he has the perfect blend of customer support and marketing expertise. Besides keeping up with the ever evolving digital marketing landscape, he also enjoys cooking, exploring new places, sampling the latest craft brews, and chasing his misbehaved French Bulldog around the house.

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We have improved the ad creation workflow based off feedback that we have received. Now ads can be attached to existing campaigns directly from the new ad creation form. Here is an example of adding a new banner ad to multiple web campaigns:

Screenshot 2014-08-07 13.29.38

Notice the “Add to Campaigns” field above. Your campaigns for the current ad type are listed in this box, allowing you to select which campaigns to attach the new ad to rather than editing each individual campaign and adding the new ad manually.

We hope you enjoy this update. Happy retargeting!

Brian Cary

Brian Cary is an engineer at Perfect Audience. He enjoys running, making fresh juice, playing musical instruments, and working on his photography portfolio in addition to building software for the web.

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We have two new updates to announce today to help make our platform more effective and easier to use. Here they are:

Easily add UTM_Campaign in your campaigns

Have you ever wanted to easily track your Perfect Audience campaign performance in Google Analytics? Now you can do exactly that with a brand new feature.

Here’s how to do it: when creating or updating a Facebook news feed or RHS campaign, click the “Add UTM_Campaign parameter” link to the right of your campaign name:

utm_campaign

After saving this campaign, this UTM parameter will be embedded into the click URL for all ads associated with the campaign. Your analytics application will now begin to report on this information.  Remember, this feature is limited to Facebook campaigns at this time.

If you need a refresher on what UTM parameters can do for you, check out our blog post titled UTM Parameters: What are they, how they work, how to use them.

Display campaign performance by month

We’ve put additional effort into making your campaign data easier to digest by making the campaign timeline look better when viewing a large window. Stats are now grouped into monthly totals rather than daily totals when viewing 6 months or more of data.

monthly_timeline

We hope these updates help you achieve your marketing goals faster. Feel free to send us feedback on our product so that we can continue making it better!

 

Brian Cary

Brian Cary is an engineer at Perfect Audience. He enjoys running, making fresh juice, playing musical instruments, and working on his photography portfolio in addition to building software for the web.

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