Below are two different examples of a monthly analysis.
Analysis | Example 1
KPAs
8 Form Fills (+60.00%) | $211.61 CpKPA (-63.74%) | Goal: $500 CpKPA (-57.78% below Goal)
Despite a -41.98% decrease in Spend for the account (due to the decreased February budget), we were able to actually increase Form Fills (8) by +60.00% at a -63.74% better CpKPA ($211.61) that is still -57.78% below the $500 CpKPA Goal
What's Happening
With the reduced February budget, we wanted to prioritize cutting any "waste" and doubling-down on best-performers
After analyzing our forecasted opportunity with Performance Planner, we gradually lowered Ad Group & Keyword bids by -25% each of the first 2 weeks of the month
We also analyzed the past 12 months of search terms data, and identified that most search terms that didn't include some variation of 'company' drove a 3x higher avg CpKPA, so we excluded any of these terms that weren't driving a close-to-average CpKPA
Lastly, we analyzed our Landing Page performance to determine that a previous LP drove a +55.12% higher Conversion Rate, so we updated the Ads to drive to that page
Next Steps/Recommendations
Test more gradual bid decreases (starting with -10%) to ensure we're still winning quality placements while also reducing CPC and increasing Click volume
Draft up new Ad Copy to A/B test with the goal of finding ways to improve our Ad Performance over time
Analyze Competitor landing pages to identify any new opportunities for positioning ourselves, as well as identifying structural/design/cta changes we can A/B test
Analysis | Example 2
KPAs
Meta drove a total of 117 signups over the course of January, leading to a $18.92 cost per signup, which was 21.8% lower than the previous month and is 24.32% lower than the goal of $25 cost per sign up.
What's Happening
This uptick in performance can mostly be attributed to the introduction of our new lookalike audience, which drove the lowest cost per signup of all audiences at $15.14 after being implemented as a test this past month. Additionally, since implementing this audience on January 15th, the cost per sign up of this campaign has dropped by an additional $3.02 compared to the beginning of the month.
In regards to ad performance, we've noticed that videos continue to outperform static images, with a 37% lower CPC and 41% higher CTR over the last 2 months. We recommend continuing to send over videos, particularly those highlighting 'x, y, z', as these have proven to be the top performers.
Next Steps/Recommendations
In February, we plan on continuing to shift budget to the lookalike audience until we see a rate of diminishing returns. This has already proved to be a positive step, with 10 signups to kick off the first 2 days of February at a cost per sign up of $13.
We'll also be testing a new ad copy of 'x, y, z' to assess engagement and the overall impact on signups.