Our Senior Google Ads Strategist, Colby Doyle, emphasizes the importance of a simple and easy-to-understand report in digital advertising. He shares a metric that simplifies ROI and Google Ads reports so all stakeholders can understand. This can aid in enhancing your marketing efforts amidst the current attribution and tracking challenges.

Colby explains the Media Efficiency Ratio (MER) and how it can help measure the impact of your advertising effort. But that's not all! He also provides tips on calculating MER so you can make data-driven decisions in your advertising platforms. So, watch the video and optimize your advertising strategy!

Correction on the MER formula: It should be the other way around.

MER = Total Revenue / Total Cost of Ads

Connect with Colby on LinkedIn here:  

 / colby-doyle-187a72b0  

This video was inspired by a question from one of our awesome subscribers. Thank you so much, Gabe Garcia!

We appreciate all the support you guys have given our channel and we’d love to hear more from you!

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#googleads #digitalmarketing #googleadsbestpractices

Hey, everybody.

2

It's Colby from Soul Aid here to

answer some of your questions.

3

First one that I have in front of me.

4

Without paying for another tool, and

given that GA4 standard reports and

5

Google Ads use different attribution

models, which platforms or report

6

would give a simple enough ROI to

be understood by all stakeholders?

7

for this, I definitely believe

that it should be easy and your

8

report should be digestible and

shouldn't be so complex that people

9

can't read them and understand.

10

And I think making things as simplistic

as possible is good, and it also

11

is a good measure of you showing

that you know what you're doing.

12

And one of the good ways that we can

do this, and the most simple ways,

13

is through media efficiency ratio.

14

you've probably been hearing

John talk about it, and some

15

other people from our team.

16

Media efficiency ratio is the total

cost of ads, divided by the total

17

revenue, or cash in divided by cash out.

18

what this tells us is the total

amount of ads we have in the market.

19

What impact does that have on our revenue?

20

And you might hear that there's

a lot of running around upstairs.

21

It's just my toddler, my

roof isn't going to collapse.

22

But, I want to back up

just a tiny bit here.

23

And point out that attribution

is probably going to get worse.

24

at the iOS updates, people are opting out

of tracking, that cookies are going away.

25

that everyone's not

playing together nicely.

26

I don't think we're going to have the wild

west days, the glory days, where we have

27

beautiful data, and we're going to be able

to beautifully track the, 7 to 15 steps a

28

user takes before they make a 20 purchase.

29

The most efficient way we can do

this is knowing that we're putting

30

in a total amount of dollars towards

advertising, and we're getting some out.

31

And through all the changes we're

making, we want to see a positive

32

relationship between these.

33

I think we should quickly talk about

how you would calculate that here.

34

And like I was saying, total cost of

ads divided by total revenue here.

35

You would go in let's say you grab

last seven days of data, you grab

36

the last seven days of Google and

Facebook you don't need anything

37

fancy here, just a spreadsheet.

38

Go into your ad platforms, grab your total

cost, and just put them right in there.

39

You could do it by campaign basis, but

your stakeholders are probably going

40

to want something nice and simple for

them to understand, so do it from a

41

very high level perspective first.

42

And then once you do that, just make

sure you use the same time frame.

43

You can go to Shopify or WooCommerce,

whatever you've got, and look at the total

44

amount of revenue that you generated.

45

Put that together in the formula.

46

If you are getting a 1.

47

09x, your stakeholders are probably pretty

unhappy, and you are too, but that's okay.

48

To do better, And measure

this relationship and start

49

to make action, take action.

50

I would say, make changes individually

in each platform, and when you're doing

51

that, keep things consistent in the other.

52

If you're doing things sporadically

in both, and you see your MER going up

53

or down, you're not going to know why.

54

When you make some changes in Google, Stop

let it be consistent see what the impact

55

of that is and don't be doing anything

in Facebook Give it some time maybe two

56

to three weeks and then do the same for

Facebook And then when you start seeing

57

things work, you'll then be able to know.

58

Oh, yes.

59

This has a positive

relationship on my mirror.

60

So continue to do those sorts of

things out there in the marketing world

61

Keep your stick on the ice Thanks.