Google and Yahoo's free tools

The biggest online advertising outlets are Google AdWords and Yahoo search ads. Both offer online advertisers targeted search marketing to reach specific audiences. The pay-per-click search ad model they offer comes complete with online monitoring and measuring tools. All you have to do is sign in and pull your reports.

I recommend: Use Google Analytics and Yahoo's Marketing Console to track the performance of your online campaigns.

Software helps track ads

If you have multiple online ad campaigns running simultaneously, you may end up spending more time monitoring each campaign than running your business. Fortunately, there are a variety of software solutions that can help track every online advertising dollar you spend and monitor results.

I recommend: Use NetTracker Web Analytics or JAZreturns to help monitor online campaigns. Find a list of over 25 software solutions at ClickZ.

Hire a firm to monitor and measure ads

As a business owner, your most valuable asset is your time. Using a reputable firm that can monitor and measure online ads is the same as having your very own online advertising staff, but without the personnel costs.

I recommend: Let BigBrushMedia, SmartSearch B2B or SendTraffic help monitor and measure online ads.

Use an online advertising calculator

It's impossible to monitor and measure online advertising results if you don't know what a click is worth. Once you determine how much you have to spend on an online advertising budget, you can better determine what a pay-per-click ad is worth to you, depending on what the lead will cost.

I recommend: Use ClickZ's Online CPM Calculator to determine the costs, cost per 1,000 impressions (CPM) and the number of exposures when figuring your online ad budget.