What are the most important metrics to track when running search ads on E-Commerce product pages?

Click-through rate (CTR) is like a personal indicator of how engaging my content or marketing efforts are. It tells me how many people actually click on what I'm offering or sharing compared to how many see it. A higher CTR means my content is resonating well, and it's like a virtual high-five from my audience. It's important to track because it helps me gauge the effectiveness of my campaigns, whether it's email marketing, ads, or website content. When my CTR is good, I know I'm on the right track, but if it's low, it's a signal to tweak things to make them more appealing and conversion-friendly.

Picture your CTR as the beacon of relevance amidst the vast ocean of search results. It's a swift indicator of how well your ad resonates with the curious explorers (users). A high CTR is like a magnetic pull, it shows your ad is a sparkling gem that catches the eye amidst a trove of information. On the flip side, a low CTR indicates it's time to polish your ad's appeal. Crafting compelling headlines, engaging descriptions, and leveraging ad extensions are your tools to amp up the allure of your ad.

CVR is the mirror that reflects how persuasive your product pages are. A high CVR means your pages are like persuasive merchants, convincing visitors to part with their doubloons for your treasures. A low CVR? It's time to reassess and spruce up your product images, descriptions, and offers. Perhaps, ease the path to purchase by reducing distractions and friction on the page.

Really this metric is what most businesses want to have acceptable. It encompasses the cost that you are getting for your clicks and it also shows how well those clicks are converting. So cheap clicks that don't convert don't help you. Lots of conversions at a Return on Investment past where you are comfortable is not good either. This metric makes sure everyone stays on track and is creating a profitable paid campaign.

CPA is the ledger that accounts for the balance between the spend on clicks and the gains from conversions. A high CPA signifies your ad voyage is costing more doubloons than the treasure it’s yielding. Whereas a low CPA is the mark of a profitable expedition. Steering this metric towards favorable shores involves a dual strategy – boosting your CVR while reigning in the CPC.

This metric can be useful if your products/services vary widely in the value that they bring to the business. It also creates added value in going after the big ticket items that others may forget or not notice if they are not obvious.

RPC is the measure of bounty you accrue from each conversion. A high RPC is like unearthing a chest of precious gems, signaling high-value conversions. A low RPC could mean your conversions are more of copper than gold, thus affecting your ROAS. Upselling, cross-selling, bundling, or offering discounts are your maps to buried treasure, leading to an enriched RPC.

ROAS is the treasure chest that accumulates the wealth garnered from your search ads. It’s the big picture that reflects the overall efficacy and profitability of your ad campaigns. A robust ROAS is like a bountiful treasure chest, signifying growth and profitability, while a low ROAS is a signal to revisit and refine your ad strategy.