What are the best practices for setting up SEM goals and KPIs?

1 Define your SEM goals

The first step to setting up SEM goals and KPIs is to define what you want to achieve with your SEM campaigns. Your goals should be specific, measurable, achievable, relevant, and time-bound (SMART). For example, you might want to increase your website traffic by 20% in the next quarter, or generate 50 new leads per month from your SEM ads. Your goals should also be aligned with your overall business goals and marketing funnel. For example, if your business goal is to increase your brand awareness, your SEM goal might be to increase your impression share or click-through rate.

2 Choose your SEM KPIs

The next step is to choose the SEM KPIs that will help you measure your progress towards your goals. KPIs are quantifiable metrics that indicate how well you are performing on your SEM campaigns. For example, some common SEM KPIs are cost per click (CPC), conversion rate, cost per acquisition (CPA), and return on ad spend (ROAS). You should select the KPIs that are most relevant to your goals and that reflect the different stages of your marketing funnel. For example, if your goal is to increase your website traffic, you might use KPIs such as impressions, clicks, and CPC. If your goal is to generate leads or sales, you might use KPIs such as conversions, CPA, and ROAS.

3 Set up your SEM tracking tools

The third step is to set up your SEM tracking tools that will help you collect and analyze your SEM data. The most essential tool for SEM tracking is Google Analytics, which allows you to monitor your website traffic, behavior, and conversions from your SEM campaigns. You can also use Google Tag Manager to create and manage tags that track specific actions or events on your website, such as form submissions, downloads, or purchases. Another important tool for SEM tracking is Google Ads, which allows you to create and manage your SEM ads, keywords, and bids. You can also use Google Ads to track your ad performance, such as impressions, clicks, CPC, and conversions.

4 Monitor and optimize your SEM performance

The final step is to monitor and optimize your SEM performance based on your goals and KPIs. You should regularly review your SEM data and reports to identify what is working well and what needs improvement. You should also test and experiment with different elements of your SEM campaigns, such as ad copy, landing pages, keywords, bids, and targeting. You should use the results of your testing and experimentation to make data-driven decisions and adjustments to your SEM strategy. By doing so, you will be able to improve your SEM performance and achieve your desired ROI.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?