Welcome to the 51Blocks White Label Partner Center! This serves as a sort of wiki for our white label partners who need help with any part of the process, from sales to fulfillment. Being involved in a partnership involves both sides coming together as efficiently as possible in the best interests of our clients. As we all know, one of the most important things in marketing is consistency. This resource center will help you stay consistent throughout the engagement with your clients. Our Partner Center can help answer questions you may have about sales, fulfillment, or even general queries on what it takes to be a good white label partner.
Each section, when clicked, will expand into a deeper explanation of that part of the process. Not seeing an answer to your question?
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Defining the Cost Per Conversion
The amount spent to acquire a sale or a lead. You can calculate cost per conversion at any time by dividing the total amount spent by the number of leads.
Total Cost of Campaign/Number of Leads = Cost Per Conversion
Return on Ad Spend (ROAS)
ROAS is the metric used to determine the value and outcome of an advertising campaign. ROAS helps calculate the return on every dollar spent and how much revenue was earned. The higher a campaign’s ROAS, the higher return with the bare minimum being set at a break even point so that the client doesn’t lose money. You can calculate ROAS by dividing the profit from the ad campaign by the cost of the ad campaign.
Profit From Ad Campaign/Cost of Ad Campaign = ROAS
We can help you take these metrics a step further by tracking:
LTV of a client - How many times customers or clients return to the business for products and services per year. Knowing these stats allows you to create a strategy that maximizes profit from your leads
Close rate - This is the percentage of leads that turn into sales. Leveraging this stat will help you get better leads and optimize your strategy for more conversions.
Cost/Conversion Target versus Cost Per Acquisition (CPA) - This is the target cost you’d like to acquire a lead or sale for versus the cost-per-conversion that is achieved on the actual campaign.
Clicks and impressions are probably the singularly most important basic metrics that any account manager should be watching on their PPC campaigns. Clicks refer to simply the number of times an ad was clicked on in a campaign.
The second basic PPC metrics to watch is impressions. Impressions refer to the number of times an advertisement is displayed.
Cost Per Click
The average amount that you pay for an ad is called the cost per click. This figure can vary wildly from industry to industry and can be higher for some keywords depending on the competition in the market. You can often bring down your cost per click by utilizing longtail keywords, but if you want to remain competitive for your core competency, this may be ill-advised.
Click Through Rate (CTR)
You can easily decipher the CTR of your campaigns by dividing the number of clicks by the number of impressions.
# of Clicks / # of Impressions = CTR
Impression share measures the number of impressions your campaign receives versus the number of impressions it could have received. If the total number of searches performed for the targeted keyword was 1,000 but your ad only appeared 800 times out of those searches you have an 80% impression share and 20% lost impression share. Looking at the lost impression share gives you the data you need to decide whether to increase your ad spend budget or raise bids. Lost impression share metrics allow you to find out how many impressions were lost due to budget constraints or low ad rank due to poor quality scores or bids. You can calculate the clicks and conversions you could have received if you had not lost those impressions by the equation below:
# of Searches Performed for Keyword / # of Times Your Ad Was Shown = Impression Share
Conversion rate is the rate at which people convert. In some cases, this can mean a form fill, others a phone call. In its simplest form, it’s the number of people who buy. Conversion rate measures how often clicks are made on your campaigns result in a conversion action- a sale, lead, sign-up, etc. You can calculate your conversion rate by utilizing the following equation:
# of People Who Took Action / # of People Who Clicked On Campaign = Conversion Rate
To figure out if PPC is worth it, first you need to figure out what a lead is worth to your client. Find out how many leads you have had contact with and then see how many of those leads have become customers. Next, find out what the average value of each of these customers is. You should also look at the lifetime value (LTV) of a customer if you have historic data.
Here’s an example: In a month long campaign, Jim closed 4 of 10 leads he received. The sales were worth $3,500, $500, $2,250, and $75 ($6,325 total). $6,325 divided by 10 leads means that each lead was worth $632.50 to break even.
Mathematically, the formula looks like this:
V = ( R / L )
In the formula above, let L equal the total number of leads, let R equal the revenue generated from the closed leads, and let V equal the value of each lead.
If we use the information from the Jim example, the PPC formula looks like this:
632.50 = ( 6,325 / 10 )
Now that we know what a lead is worth, we can look at the rest of the PPC formula. Let’s say Jim is going to spend an average of $8 per click and $1000 per month on AdWords. He also will pay a $200 management fee and a management fee for a total of $1,200. This budget will allow him to get 125 clicks per month ($1000 divided by 8). To break even on his investment, Jim will need to generate at least 3 leads per month because he will be spending $1,200 per month, his leads are each worth $632.50, and 2 leads are worth $1,265 ($632.50 multiplied by 2 leads). To profit, Jim will need more than 3 leads.
The next part of the PPC formula looks like this:
( A / C ) * X = E
In the formula above, let A equal the total Google AdWords budget (do not include the management fees), let C equal the average cost-per-click, let X equal the percentage of clicks that become leads (expressed as a decimal), and let E equal the number of leads generated. Some of the information required for this part of the PPC formula needs to be gathered using the tools in the resources section at the bottom of this post.
Let’s plug in Jim’s data and see what the PPC formula looks like if Jim just wants to break even:
( 1000 / 8 ) * X = 3
125 * X = 3
X = 0.024 (which is a 2.40% conversion rate.)
How to Use the PPC Formula
You can also use the PPC formula to set goals for conversion rates and see what the outcome could be. For instance, let’s say you knew that realistically Jim would not get more than a 0.5% conversion rate for whatever reason. You can plug that in to calculate the number of leads Bob could expect from his budget.
Using the PPC formula this way would look like this:
( 1000 / 8 ) * 0.005 = E
0.625 = E (which, based on the value of a lead formula, is only worth $395.)
You can change any part of the formula to discover different scenarios or look at the campaign results from different perspectives. For instance, it’s known that a high quality score in AdWords means a decreased cost-per-click (CPC). Let’s see what happens if Jim’s PPC management team can get him the same clicks for only $5 per click using the same data from the break even example from earlier.
Jim’s break even formula with a $4 CPC:
( 1000 / 5 ) * X = 2
200 * X = 2
X = 0.01 (which is a 1.0% conversion rate.)
Good communication is important and can help keep clients happy. A well informed client knows what is going on, what to expect and is less likely to get a surprise that may anger them.
Transparency can be a lot to ask these days, but we do not believe in hiding things from our clients. We are completely transparent with all the work that we do. In your monthly reports, we break down your progress benchmark by benchmark. You will see the tasks completed in the previous month, as well as the work we will be completing in the upcoming month, along with data from any and all relevant sources. We want you to feel completely comfortable with the work we are doing and we want you to know how every single one of your marketing dollars is spent.
Checking in with clients is important, but you may be unsure as to how often to check in, or the best ways to check in. There are 3 ways of checking in with your clients and the best method varies by client.
We make client communication easy via a shared inbox. This allows an easy solution for the entire team to communicate effectively. You can reach everyone, from one place.
Our proprietary reporting software aDash makes showing value to clients easier than ever. aDash gives you real-time updates for all of your marketing campaigns. No matter where you are, you can instantly see those all-important metrics. From clicks and cost per lead to page views, conversions, ROI, ROAS, and everything in between, aDash can help demonstrate the true value of every marketing dollar spent.