How To Measure Agency Performance
Important Metrics for Agencies
Having owned an agency, I'm excited to talk to you about how to use Triple Whale to make sure you're getting the most from your performance marketing, or digital marketing agency.
So yeah, I'm going to show you my worst nightmare, and also I just think a good way to partner better with your agencies, and just make sure it's a win-win partnership for both parties. So here's the summary page. The first thing I'm going to look at is probably just like the last week.
So here's a last week view. The first thing that's going to catch my eye here is obviously the ROAS, the new customer, ROAS, profit over ad spend, and then just like my ad spend and how I'm pacing with that.
So I think this just gives you a very, very quick pulse check to see how performance is doing in the ad account. You're obviously going to get that same data down here, but the big thing I'm going to look at next is my marketing efficiency ratio.
So this is just a great ratio to make sure you're investing your dollars smart, that you're able to just scale profitably. As you can see, here's the formula to calculate your marketing efficiency ratio. So more or less percentage of sales over your ad spend.
So as I continue to look through here, this is just giving me some great insights into how my agency is performing.
You can see cost per acquisition is trending down over that same time period. So versus a week or two weeks ago, new customer row as again. And then this is just a good health report, to understand if this agency is also helping you with your life cycle marketing and acquisition, just how to find the right balance between their efforts. So yeah, I think this is just a great, great comparison. Tend to like to see new customers around that 40%, returning about 60%, and it completely depends on your business.
Triple Pixel for Agencies
That would just be the average. So yeah, and this will continue to just give you more health. So the next section I'm going to look at now is the pixel section, just to get some more data about how my ad performance is going. So I'm just going to sort this now by spend. And then this is giving me a great pulse check once again into what is performing.
So I'm really just looking for outliers within the account. So things that are performing extremely well, and things that aren't performing well. With things that are performing well, I'm asking myself, "How can we better scale these?" And with things that are performing poorly, I'm asking, "What can we learn, and is there anything we can do to change the copy here, to change the audiences, and potentially turn them around? or do we just turn them off and get the learnings we need for the future?"
So quickly, I'm seeing Google is performing extremely well. Facebook is at a 0.98, versus what platform is showing us around a 2.3. We are looking at the triple attribution window here, and then I'll probably just quickly go between my attribution windows just to see how that affects things. So that obviously last click brought them both down.
And then I'm also going to look at triple attribution plus views, because that should naturally bring it up. So I mean that puts us a lot closer to Facebook. So this could be due to potential retargeting campaigns, or video campaigns. So now I'm going to click in, and once again, I'm just looking for some outliers. So looking here with CBO, that's assuming retargeting here with RT CBO, so that's obviously why your ROAS went up on that front. I'm going to change my attribution window back now. So yeah, this is more like this.
Remarketing hasn't spent a lot, I guess it has spent quite a bit compared to the bottom one. So yeah, I would probably be putting more budget now back into the CBO, because the ROAS is higher, has still $300 in spend versus $900.
So it's not like this one below with only $100. So yeah, I'd probably start filtering some budget, but more or less I'm just taking this to my agency and saying, "Hey, looks like this one isn't performing as well versus this one." And then now I'm going to look at Google and kind of go through the exact same thing.
So it looks like not a crazy amount's been spent on brands, so that's great. It's at a six ROAS, so performance max is doing it extremely well. Interesting though to see that the triple pixel isn't showing it's doing well. And so in this case I see the pixel ROAS as a very, very, very great data point, and I would still though, it's spent a thousand dollars, it is a big chunk of your budget. I'd probably keep that running, and just see what happens.
We can see it still calculating, so there are some things. And there is a data import going on with this one. So I would keep that going and just see what happens. So yeah, I think that things are looking pretty good. Obviously based on your metrics and milestones you have in place, that will determine how you're approaching your agency, how you're working with them.
And so if these are in line with your overall performance, then I think that just helps in that conversation. So then what I would probably do is go back to "All", and I'll probably just look at yesterday, and see how that compares to what we were seeing previously.
So a pretty good blended ROAS, Facebook actually looks a lot better than looking at it over the week. So looks like there are some good things happening within the account, some good optimism in what is happening, So things are probably moving in the right direction. So then probably how I would see, all right, "Well it looks like things yesterday are performing a lot better."
The next thing I want to look at here is the creative cockpit, and just to better understand what creative is performing within the account. So looking at the same date range here, and I'm going to go through, and just see what's performing well on Facebook, what's performing well with the Pixel. This is a great creative here. This one's performing barely under the Facebook average, and this one's above our pixel ROAS by a significant amount. CPMs are higher, but also click-through rate is phenomenal.
And this looks like it's actually an acquisition audience, so I would probably be cranking this one up a little bit more. Look at your ad spend here, still spending a good amount. It's not a low amount of spend, and that's like an insane click-through rate. So I would for sure be investing more in this ad. So it looks like the product ads are performing extremely well.
Understanding What's Working
There's a lot of great ads honestly here, so looks like a lot on the creative front is being tested and running well. So this is just helping me understand what is working, what the agency is running, where spend is going. So you can see some of these have lower spend, and some good lagging indicators. Some of the leading indicators with click through rate aren't great, but based on the spend volume it having three purchases, I'd still probably keep it going.
So this is just giving me a good snapshot into what is happening with our creative. So yeah, that is what I would be going through and looking at. Let's go ahead and look at yesterday as well, since we saw a big spike.
Looks like it might have come from that ad we were just looking at. So yeah, this ad is at a six ROAS, way better than what Facebook is reporting. So this is looking one of the best ads to be investing more and more into. Looks like it's spending about a hundred dollars a day, I'd probably start increasing that by 20% each day, and just get to that point of diminishing returns.
So yeah, probably let my agency know, let's focus more on this, and then if we do have any segments in here, which we don't. Okay, so yeah, I would just let my agency know what to continue to focus on, what's working well and partner with them on getting them more product images. Maybe you want to try some more UGC content, some more lifestyle images. So yeah, that is what I'd be looking at both in the pixel section, and the creative cockpit.