We continue to tell you about end-to-end analytics that is now available in Ringostat. It is the new level of submersion in data as you are not limited by information on calls and sessions anymore. A user receives automatically calculated ROI. He also understands to which channels it is better to allocate the budget. And it’s not the end of Ringostat end-to-end analytics benefits. Read more on other advantages in the article.
1. Find out the cost recovery of your investments in every advertising channel
Businesses can’t evaluate the success of the advertisement without end-to-end analytics. Clicks, calls, and online-requests only indicate the interest in your product. Moreover, it doesn’t mean that such conversions will lead to sales and the cost of advertising will pay off.
Usually, key data on promotion effectiveness are displayed in different services:
- transfers and online-conversions — in web analytics systems;
- calls — in call tracking;
- deals and sales — in CRM.
To understand the real effectiveness of the advertisement, all these services have to be united. This is the only way to see the chain: investments in advertisements — certain ad source — website visit — call — revenue — ROI. That’s what we’ve done in Ringostat end-to-end analytics.
Example of the end-to-end analytics report
Having data on advertisements cost recovery you can:
- adjust rates considering ROI by each channel;
- wisely allocate budget between different ad campaigns;
- opt-out advertisement that doesn’t work;
- create an audience for retargeting or remarketing;
- use look-alike audience to show advertisements to users that look like your potential customers;
- test different formats of promotion considering the impact on revenue.
All in all, you receive accurate data and can make decisions based on them. The result is the advertising effectiveness increase. Besides, you receive more value having the same budget.
You can also manually upload costs on promotion almost from any systems. For example, this will help to evaluate the cost recovery of investments in SEO, banner advertisements, etc. Read in the article how to import costs in the end-to-end analytics.
2. Opportunity to customize end-to-end analytics to your business
It differs Ringostat from other decisions with same-titled functionality. We tried to make almost all the decisions customized. Forget about default settings that don’t consider the peculiarities of your company.
Event-Driven attribution model
Attribution is the rule that transfers the conversion value to different points of contact with the brand. Based on the attribution the analytics system defines the value that will be divided between specific channels.
There are 6 attribution models available in Google Analytics. However, they have a disadvantage. Such models don’t consider something that happened during one conversion. Using Ringostat you can customize a model that will distribute revenue brought from the deal among your sales funnel stages. This will help to receive not the approximate data but the closest to your business realia. All funnel stages presented in CRM are automatically transferred to Ringostat end-to-end analytics. You only need to set up them as it is written in “Guide on work with Ringostat end-to-end analytics”.
Setup of stages that correspond to a certain sales funnel
Weight assignment for different goals
Not each conversion has the same value. For example, the second website visit has a different value from a request for payment details. Ringostat helps to set weight for each conversion, in other words, its proportional contribution in sales. Assign a weight to each funnel stage, depending on its value for the company’s marketing. Measure it by any scale convenient for you. Thus, you will understand which channels lead to important conversions.
If you want you can also customize the same attribution models as in Google Analytics. To do so, you only need to set weights in the needed order.
It is the period when the value of the interaction is slowly getting declined. Concerning the advertisement, the closer to the conversion the more valuable the channel that brought it. There is the “Time decay model” in Google Analytics that has a similar working principle. However, in Ringostat you can set the time decay based on your sales cycle.
This will help to not overestimate old conversions that barely influenced the deal.
3. Convenient work in one window
- Due to Ringostat end-to-end analytics, you receive access to the key data in one window. No need to switch between different systems to see the whole picture of advertising effectiveness.
- Easily evaluate a number of calls, sessions, closed deals, and advertising cost recovery by each channel. You can quickly compare the success of sources as data are united in one window.
- You can easily share the information that is united in one interface with your colleagues or management. Simply give access or make a screenshot. All metrics are clear and transparent even for a layman, unlike such terms as CTR, CPC, etc.
4. Automation of work with data
Only the one who has built end-to-end analytics knows how hard it is. It can take two or four weeks to set up everything and consolidate information from different systems. You need to customize Ringostat end-to-end analytics only once and all data will be automatically transferred. Ringostat will do for you all difficult calculations and will display the most important metrics.
All you need to do is enable integrations of Ringostat with the advertising system and CRM. We have counted that it doesn’t take more than 30 minutes. Weight and Event-Driven attribution setup will approximately take 20 minutes. All these processes are described in the knowledge base. Moreover, tech support always provides you advice.
Spending an hour or even less, you don’t refer to end-to-end analytics customization anymore. When the deal is successfully closed, the division of weight, time decay layering and calculation of ROI happen in seconds.
5. Time, money and manpower saving
We will show you one of the ways to “adjust manually” end-to-end analytics to prove a point. Pay attention to the number of tools that you need to connect and how much time spends on their setup. All this difficult system needs to be maintained and fixed if something is “cracked”.
There are simpler decisions, however, their setup requires even more time. As you will have to build end-to-end analytics from tools that are initially created for other tasks.
By connecting Ringostat end-to-end analytics you save a lot of points.
- Time. We have already written above that customizations take no more than an hour. Ringostat has integrations with advertising systems and CRM.
- Money. No need to buy additional services as call tracking is already a part of Ringostat functionality. That’s why you receive the multifunctional instrument.
- Manpower. Our service provides end-to-end analytics support. You only need to customize it.
6. Transparency of marketing work
What can prove marketing effectiveness better than sales? You won’t have to use interim metrics anymore: CTR, displays, calls, etc. and analyze the success of ad campaigns based on them. Moreover, business owners are not interested in such data. The revenue from launched campaigns is more important.
Ringostat end-to-end analytics is the opportunity to prove the effectiveness of your marketing:
- show that launched ad campaigns lead to closed deals, pay off and bring revenue;
- receive a dashboard in the independent service which is the guarantee that data were transferred automatically and none manipulates them;
- find out and fix weak points in the promotion strategy;
- understand what works better and use this data to create truly effective campaigns.
Remember that you receive everything described in the article for free by connecting up to November 1. Text to chat on the right or in Ringostat account if you are our client. We will be happy to answer all your questions and help during end-to-end analytics customization.