What Metrics Should You Track

The most important metrics to track when running Google Ads are:

1. Media Efficiency Ratio (total ad spend ÷ total revenue)

The amount of money that you're spending on all marketing channels divided by total revenue.

2. New Customer Acquisition Cost (total ad spend ÷ new customers)

The average cost incurred to acquire a new customer.

Why These?

Media efficiency ratio (MER) measures the overall effectiveness of all your marketing.

You should measure it at minimum on a monthly basis, and is best to measure it every quarter.

The only concrete metrics that you can 100% trust as a brand owner are:

1. How much you spent on marketing.

2. Your revenue in Shopify.

MER takes into account both these metrics, to give you a true picture of your business health.

New Customer Acquisition Cost (nCAC) Is Your Scaling Metric

You should measure this monthly.

Most businesses can only scale by acquiring new customers.

Therefore, knowing how much it is costing you to acquire a new customer will tell you whether or not you can scale profitably.

Sometimes, pushing more money into a channel doesn't change the existing sales cycle of your customers.

Tracking your nCAC allows you to determine whether a channel has a good top-line effect of getting you new customers.

Here’s How To Track Them

1. Go and grab a copy of my tracking spreadsheet here

It contains information on the metrics you should track, plus also a tracking spreadsheet for you to do it.

2. Watch my latest YouTube video that explains how to use this sheet here

It explains how to create the sheet, but as your on my email list you get it pre-made instead.

The important sections for you are:

1. Installing Adveronix: 05:12

2. Getting data from Shopify: 07:42

Reply to this email if you have any further questions or content you want covered.

Cheers,

Myles

PS - I sell a guide to setting up conversion tracking… If you’re struggling to get yours setup then this will be a massive help to you.

Go here to get it.

PPS - If you run an eCommerce brand above $30k/month and want a free Google Ads strategy consultation with me then book a call here.