What key performance indicators (KPIs) should we track for our Bing Ads campaigns?

When it comes to tracking key performance indicators (KPIs) for your Bing Ads campaigns, there are several metrics that you should consider. Here are some of the most important KPIs to track:

1. Click-Through Rate (CTR): CTR is the percentage of people who click on your ad after seeing it. A higher CTR indicates that your ad is resonating with your target audience and is relevant to their search queries.

2. Cost Per Click (CPC): CPC is the amount you pay for each click on your ad. Tracking your CPC can help you determine the cost-effectiveness of your campaigns and identify areas where you may be able to reduce costs.

3. Conversion Rate: Conversion rate is the percentage of people who take a desired action after clicking on your ad, such as making a purchase or filling out a lead form. Tracking your conversion rate can help you determine the effectiveness of your campaigns and identify areas where you may be able to improve.

4. Cost Per Acquisition (CPA): CPA is the amount you pay for each conversion. Tracking your CPA can help you determine the cost-effectiveness of your campaigns and identify areas where you may be able to reduce costs.

5. Return on Ad Spend (ROAS): ROAS is the revenue generated from your campaigns divided by the cost of the campaigns. Tracking your ROAS can help you determine the profitability of your campaigns and identify areas where you may be able to improve.

6. Impression Share: Impression share is the percentage of impressions that your ad receives compared to the total number of impressions available for your target audience. Tracking your impression share can help you determine how well your campaigns are reaching your target audience and identify areas where you may be able to improve.

7. Quality Score: Quality Score is a metric assigned by Bing that evaluates the relevance and quality of your ads, keywords, and landing pages. Tracking your Quality Score can help you identify areas where you may be able to improve the relevance and quality of your campaigns.

By tracking these KPIs, you can gain valuable insights into the performance of your Bing Ads campaigns and make data-driven decisions to optimize your campaigns for better results.