There’s a Grainger commercial I hear quite a bit on the radio where they say something like “everything worth repeating needs to be repeated 3x to make sure it sinks in….” (that is not an exact quote and I’m too lazy this early in the morning to look it up). In their case the message is “Safety, Safety, Safety”. In the world of PPC the message worth repeating should be “Conversion Tracking, Conversion Tracking, Conversion Tracking” – especially in the current mobile online marketing world.
It is also important to assign a value to these conversions or leads. I’ve complained about this before but it also bears repeating imo. If you don’t know the average conversion value and if you also do not know the average customer LTV then what are you basing click costs and total spend on? Is $10/CPA too much? Is $100/CPA too low? Is the client – as my dad use to say – watching the pennies while the dollars are flying out the door? If the average click cost in a particular vertical is $50 then can you really get away with bidding $10? Even with great quality scores and the sort of pinpoint accuracy SpeedPPC offers – it may be very unlikely.
So its not just important to know what is converting, its equally (and perhaps more so) important to know what is the value of that conversion or lead, what is the life time value of a conversion or lead? If a lead costs me $100 but generates an immediate sale worth thousands of dollars and many more thousands over time – then that is money well spent. But if you don’t know – and I have found that many clients won’t tell you – then its impossible to truly evaluate the success (or failure) of a campaign.