Alan Coleman is CEO of OnlineAdvertising.ie and has also been awarded a gold medal award for Irish digital agency of the year.
Alan covered 6 Questions:
1. What are you optimising for, Clicks or Conversions?
There tends to be an inverse relationship – more clicks equals lower conversion rate and less click means a higher conversion rate. For example, if you include the product price in an advert you are pre-qualifying, so you should get less clicks but a higher conversion rate.
2. When does lower avg position = more conversion?
This backed up Hal Varian, the chief economist at Google. The quality of your traffic doesn't vary based on your ad position - what this means is that your conversion rate should stay the same whatever position your ad is shown in.
Impression share gets left out, it's a very useful stat that allows you to work out your budget. This is the number of times your ad has been shown versus the number of times it could have been shown if it wasn't limited by budget, shown as a percentage
3. What is the critical stat not in your adwords interface?
This is impression to conversion rate and CTR to conversion rate.
4. How do people interact with various ad formats?
Alan tested how the various ad formats performed:
- Text Adverts – got the most conversions - 455 (great from direct response)
- Banner Adverts - 130 conversions – but more impressions - view through conversions 180 (great for touch points)
- Videos Adverts – CTR very high, conversion rate highest
5. Are you re-marketing / retargetting?
- Remarketing campaigns have higher CTR and conversion rates
- Recommend that you cap the frequency to 3 or 4 times
- Image ads convert better
- Remarket by topic
6. Most important development of 2011:
Understanding the paths to purchase or attribution (the assisted conversions report in Google Analytics)
Next Talk: Engaging Content... that Converts - Richard Falconer