Five LinkedIn Ads Metrics You Should Be Tracking, But Probably Aren’t (Yet)
Digital marketers consistently monitor metrics to enhance campaign performance and ensure success. For B2B marketers, scrutinizing LinkedIn Ads performance is particularly crucial, given the platform’s relevance to the target audience. However, achieving desired outcomes presents its own set of challenges.
Optimizing campaigns is paramount for maximizing return on investment across all marketing channels. This requires a thorough evaluation of pertinent data. Here are five key LinkedIn campaign metrics commonly tracked by B2B marketers:
1. Conversion Rate: This metric signifies the percentage of users who take the desired action after engaging with your ad, such as generating leads for lead generation campaigns.
2. Clickthrough Rate (CTR): Reflecting the percentage of individuals who click on your ad, CTR indicates its relevance and appeal to the target audience.
3. Impressions: Impressions denote the number of times your ad is displayed on LinkedIn, offering insight into its visibility. Monitoring impressions aids in evaluating A/B-tested ads, allowing the algorithm to optimize ad delivery based on engagement.
4. Engagement Rate: Calculated by measuring interactions, clicks, and follower acquisitions relative to impressions, the engagement rate gauges the resonance of your ad content with the LinkedIn audience.
5. Cost per Conversion: This metric quantifies the expenditure incurred to prompt a user to complete a specific action or goal, serving as a critical indicator for marketers when reporting to leadership.
While these metrics provide a surface-level understanding of campaign and channel performance, they may prove insufficient in certain scenarios:
1. Decreasing Conversion Rate Despite High Click-Through and Engagement Rates: Instances where campaign conversion rates decline despite favorable click-through and engagement rates necessitate deeper analysis.
2. High Conversion Rate Coupled with Low-Quality Leads: Even when metrics surpass industry benchmarks, dissatisfaction may arise if the quality of generated leads fails to meet expectations.
3. Lead Generation from Relevant Companies, but Inappropriate Stakeholders: Although campaigns yield promising results in terms of conversion cost and lead generation from target companies, concerns may arise if the individuals completing forms are not decision-makers but rather purchase influencers.
In such situations, a more nuanced approach to data analysis and optimization becomes imperative to address underlying issues and drive meaningful outcomes.
Five Other LinkedIn Ads Metrics You Should Be Tracking
In addition to the common metrics previously mentioned, here are five other LinkedIn Ads metrics that you should consider tracking to gain a comprehensive understanding of your campaign performance:
1. **Social Actions**: This metric tracks the number of social interactions generated by your ad, such as likes, comments, shares, and follows. Social actions indicate the level of engagement and interest from your audience beyond simply clicking on the ad.
2. **Return on Ad Spend (ROAS)**: ROAS measures the revenue generated for every dollar spent on advertising. Calculated by dividing the revenue generated from the ad campaign by the total ad spend, ROAS provides insight into the profitability of your advertising efforts.
3. **Lead Quality Score**: While lead quantity is important, lead quality is equally crucial for B2B marketers. Assigning a quality score to leads based on criteria such as job title, company size, and engagement level helps you prioritize and focus on the most valuable leads.
4. **Audience Demographics**: Understanding the demographics of your ad viewers can provide valuable insights into the composition of your target audience. Metrics such as age, gender, job function, industry, and location allow you to tailor your messaging and targeting strategies more effectively.
5. **Attribution Modeling**: Attribution modeling involves assigning credit to different touchpoints in the customer journey that contribute to conversions. By analyzing how various interactions with your ads influence conversions, you can optimize your ad campaigns to better align with your target audience’s behavior and preferences.
By tracking these additional metrics alongside the common ones, you can gain a more comprehensive understanding of your LinkedIn Ads performance and make informed decisions to optimize your campaigns for better results.
