In today’s digital world, data is everywhere and can be tracked easily as well. But the skill lies in how the advertisers use it to their advantage. Even though the advertisers have a lot of available data, it’s easy to get lost in the noise and figure out what among it is actually beneficial, and which of the insights will help them and their business. The challenge of identifying the right metrics that deliver meaningful insights, which in turn lead to better decisions is real and the advertisers often struggle with it.
Knowing the key metrics is crucial if you’re running a business, especially if you’re a demand supply partner, better known as a DSP partner. It helps you keep a track record of the performance, whether or not it’s reaching the correct audience, what you can do to make it better, etc. It ultimately, in a way affects the way your business operates, as a lot of key decisions are made based on these metrics. Whether you’re managing a campaign for a start-up or scaling an enterprise, these key insights hold the utmost importance. So, let’s dive right in & understand these metrics and along the way how FlamyAds can help you with the same.
- Reach and Impressions:
The number of users who view the ad of the number of people to whom your ad reaches, is the total reach. On the other hand, the number of times your ads were displayed is called the impressions. These metrics give you a solid idea of how broad your campaign’s visibility is. FlamyAds provides detailed reporting tools to help you track both reach and impressions.
- Click Through Rate:
Click Through Rate (CTR), in simple words is the ratio of people who click on the ad, and it’s then compared to the times it was shown, better known as impressions. Let’s take an example here. If you’re running a display ad, the number of people who click on the ad is compared to the times it has been showcased. A higher CTR means that your ads are relevant and you’ve targeted the right audience.
- Click Per Thousand Impressions:
CPM or Cost Per Mile, is one of the most basic metrics for any campaign that advertisers take into consideration. It lets you know how much you’re paying for every 1000 impressions that basis your ad. If you’re using a platform like FlamyAds, CPM helps you understand the efficiency of your campaign in terms of how many people are seeing your ad.
- Conversion Rate:
As the name suggests, conversation rate is the ratio of people who actually take the desired action after viewing the ad. It could mean a purchase, a download or a sign-up depending on the business. Tracking this is extremely important as it allows you to see the actual results and how well the ads performed. FlamyAds provides detailed tracking features that allow you to monitor conversions in real-time. By keeping a close eye on this metric, you can make quick adjustments to improve the overall effectiveness of your campaign.
- Return on Ad Spend (ROAS):
ROAS is another metric that is very important to understand the effectiveness of your ad campaigns. It basically means the financial return or revenue you get on every dollar you spend. A good ROAS determines that your ads are working well, which is extremely important from a demand side platform.
Focus on the Right Metrics to Drive Success
These metrics have the potential to make or break your ad campaign, so being on the DSP side, it’s important to take notes of these. These insights help you make informed decisions and also help with campaign optimization as you can make changes in the start as per the data you receive.
FlamyAds makes it even easier to track these key metrics in real-time, providing you with the tools you need to adjust and refine your strategies. By closely monitoring the metrics like ROAS, reach, impressions, CPM, etc, you ensure that you get your spend’s worth and these campaigns deliver real value.
And what’s the key takeaway here? Don’t just track numbers—use them to guide your strategy and improve results.