Click-through rate (CTR) by itself cannot reveal the entire picture for marketers – right from how effective their campaign is, to how they can monetise new opportunities.
In addition to CTR, brands can incorporate metrics like cost per acquisition, average order value and app downloads. Prioritising these CTR alternative metrics can help companies streamline and accelerate marketing activities while also increasing the value of overall digital marketing efforts.
Using metrics like cost per acquisition can help marketers measure the cost incurred to get a single customer to complete a certain action, be it a purchase or download. Marketers can also rely on average order value to maximise potential revenue from each customer. Similarly, lifetime value and retention rate are helpful, particularly for advertisers with a subscription model.
Using these metrics can help businesses understand if customers are making only one-time purchases or are likely to become loyal consumers. Further, using server-to-server (S2S) app downloads metrics can help brands effectively track user actions and conversions in a cookie-free method.
[8 minute read]
