Key Metrics Every Roofing Company Should Be Tracking
You have decided to do Digital Marketing, and considering there are 1.2 million searches for roofing services on Google each month and a small percentage of roofing companies have decided to delve into Google Ads, it is a great opportunity. Knowing that only 1% of roofing companies are running any social media marketing, it is the perfect time to dominate the market.
Once you have set up your Facebook and Google Ads Campaigns and they have started running, how do you know it is working? What metrics should you pay attention to and which ones should you ignore? There are nearly one hundred different metrics in Google Ads and over one hundred in Facebook, it is easy to feel overwhelmed. So which 5 metrics are the most valuable?
Number of Impressions
This shows how many times your ad was displayed over your chosen time frame. If your aim is brand awareness, the more impressions the better. Couple this metric with Frequency so you know how many times people have been shown your ad. It can take between 8 and 15 interactions before a customer engages with a brand so don’t worry if the frequency is high. Facebook works out the number of unique impressions for you with their Reach metric.
Click-Through Rate & Unique Click-Through Rate
The CTR shows how effective your ads are and is the number of clicks an ad has recieved divided by the number of times an ad was shown. The average CTR is around 2% so a good CTR for roofing should be over 6%.
Facebook offers a Unique Click-Through Rate metric to discount those who click on ads multiple times.
Landing Page Conversion Rate
Your landing page conversion rate lets you know how many people are dropping off once they have reached your site. The average landing page conversion rate should be around 30%. If it is less, it means either your landing page has a poor user experience or the ads are not relevant to the landing page.
You can find landing page conversion rate through the number of clicks vs the number of conversions or through your CMS.
If your tracking is set up correctly, this should show the number of people who have reached the thank you page of your form fill or called your tracking number. Set up your conversion through Google Ads and deploy it through Google Tag Manager to make it easy to maintain, should you change your thank you page.
If you set up the Facebook Pixel on the thank you page as a lead, this will offer a similar clarity within the Facebook platform.
Cost Per Lead
Finding out how much you are spending on each conversion is the best way to ensure your digital marketing is profitable. Before you can calculate the most you can pay for a lead, you need to calculate the most you would pay for a sale. The most you can spend on a new sale while remaining profitable is the gross profit you make off a single sale of a product or service. As an example, let’s say that your business averages a revenue of $500 for a service, with a gross margin of 40%. This indicates you receive $200 in gross profit from this service. The most you can pay for a lead is $200.