Last week, I came across three fascinating studies that delve into the world of online marketing and sales. I strongly recommend taking the time to read these studies and thinking about how you can apply the insights. I will outline the key takeaways from each study below.
Which Facebook Ads Performance Metrics Matter The Most?
In the first study, we looked at the importance of different Facebook ad performance metrics. We queried a panel of approximately 1,500 marketers and marketers-to-be to determine which metrics matter the most. The respondents work in a variety of industries including media, marketing, and sales.
The respondents identified the following metrics as most important:
- Cost per Conversion (CPC)
- Average Order Value (AOV)
- Order Quantity (QTY)
- Conversion Rate (CR)
- Lifetime Value (LTV)
- Customer Lifetime Value (CLTV)
- Value per Person (VPP)
- Average Ticket Value (ATV)
- Conversion Rate (CR)
- Churn Rate (ARPU)
We can glean a number of important insights from this study. First, respondent’s prefer to focus on metrics that directly impact the bottom line rather than broad engagement metrics such as reach or impressions. Furthermore, these respondents are primarily focused on lead gen rather than brand or product marketing, indicating that marketers should allocate more of their budgets to lead gen tactics.
Why Are Online Marketers Moving To Multi-channel Funnels?
In the second study, which was conducted by HubSpot and featured in the digital marketing group of Forbes, we were given the exciting challenge of designing a survey that would help us determine the future of online marketing and sales. To do this, we interviewed over 200 marketers from a variety of industries including retail, travel, and automotive. We then combined this data with an analysis of industry trends from the past year.
The respondents identified the following areas as most important:
- B2B & B2C Marketing Mix
- Inbound Marketing
- Lead Generation
- Data Collection And Analytics
- Content Creation
- Engagement Tactics
- Marketing Technology
We can see from this study that respondents are moving towards a more integrated digital marketing strategy that includes both online and offline elements. Additionally, this strategy heavily weights into digital channels with 65% of respondents citing email marketing as the channel they’ll focus on.
How Google AdWords Influences Purchase Decisions
The third study, also from HubSpot and featured on the Sales & Marketing Strategy Council, examined the role of Google AdWords in influencing purchase decisions. To conduct this research, we analyzed 17.6 million purchase events from the past year in Google AdWords accounts. We then compared these results to similar accounts that did not use AdWords to determine the impact of this popular PPC platform.
The respondents included both B2C and B2B customers/clients who made a purchase after visiting an online retail store. We can see from this study that Google AdWords can play a crucial role in converting casual visitors into paying customers by strategically using the following advertising methods:
- Product Display Ads
- Product Compare Ads
- Product Card Ads
- Image Search Ads
- Video Search Ads
These results are particularly interesting given that 59% of the respondents in this study cited a lack of available information as the reason for their purchase failure. If your product or service is being promoted on social media channels such as YouTube or Instagram, then you can bet that someone at least is thinking about buying it.
To successfully implement this digital marketing strategy, you will need to ensure that your website is fully optimized for mobile devices. This way, when a user lands on your site, they’ll have the best possible experience regardless of what device they’re on.