Recently we have released the global update — end-to-end analytics. It is rather different from the same-titled feature of other services. Now you can use the Event-Driven attribution, set weight for different funnel stages as well as the time decay. These things help to receive the most accurate data on the cost recovery of advertisements. Let’s see how to work with the new functionality and how to easily configure it.
Read why do you need this feature and its benefits for business in the article “Ringostat released end-to-end analytics: find out more about effective and profitable ads”.
The main goal of end-to-end analytics is to display data on the cost recovery of each advertising channel. To do so, you need to configure the information on costs from systems where your ad campaign is launched with costs from the CRM. That’s why you need to have Google Ads, Yandex.Direct or Facebook ad account with customized ad campaigns and enabled integration with the CRM system.
You can also manually upload costs from different systems and discover the cost recovery of investments made in advertisements. What is it and how it works — read in the article.
Step 1: import of costs settings
Let’s take the example of Google Ads integration. To enable it you need to:
- open section Integration — Google Ads Beta;
- activate “Enable the integration” switcher;
- log in the account in the opened window and allow ringostat.com receiving data from Google Ads.
How it works
The special program once a day receives from Google Ads information about costs on every user that visited the website from paid ads. After that Ringostat searches for info on the client in our analytics. If the session is found, there is noted the data on the cost that was spent to involve the user to the website.
The integration with Facebook and other advertising systems has a similar setup. All you need is to open the required section.
Step 2: import of revenue settings
We recommend you to contact our tech support so they can explain how to set up the import of revenue. Watch the screencast that we mentioned above and find out how to make it step by step.
- Open your CRM system as all the following settings have to be done there. Let’s consider the example of Bitrix24.CRM.
- Setup two Webhook that will send to Ringostat data on events of creation and updates of the deal. The setup is made in this section https://b24-XXXXX.bitrix24.ru/marketplace/hook/. Where XXXXX — is your domain.
- You need to add two outbound Webhook: one to update the deal, ONCRMDEALUPDATE, and the second one to create the deal, ONCRMDEALADD.
- For each Webhook in the “Handler” column add the next URL: https://api.ringostat.net/awd-pi/bitrix24hooks/catch/ID_project_in Ringostat. Example of Webhook setup:
- After that, open your Ringostat account, Integrations section and choose the required integration.
- In Ringostat account, in the integrations with CRM settings will appear the End-to-End Analytics block — EEA. You need to set deals statuses, as well as goals and weights, as it is described below.
Each time when the deal in CRM is created or updated, Ringostat receives data on it: status and client_id. When the deal receives the “Won” status, the amount of revenue from this deal automatically transfers to our service. This is realized exactly thanks to Webhook technology.
If the deal received the status that is defined as “Won”, Ringostat analyzes all data and goals that were customized during the import activation of revenue from CRM. If you want the platform to “understand” that the deal is won, you need to set statuses as it is described below.
Step 3. Deal stages setup
After the integration with CRM, all statuses of deals are transferred to Ringostat. They are automatically coming to the “Pool” column. Then you pull each status to the required column.
For example, “Prepayment” in several kinds of business may be pulled to “Won”, however, in real estate, it is better to pull “First payment” to that column. Status “In progress” is needed for interim goals — e.g. “Prepared an offer”.
When a deal comes to a certain stage, a sales rep changes the status in CRM and Webhook is transferred to Ringostat from the system. If the status corresponds to the stage “Won”, the platform saves the revenue and counts it via the attribution model. The way how the revenue is divided is written below.
Step 4. Goals setup
We are talking about interim goals again — e.g., “Prepare documents”. We can pull several statuses here from the “In progress” column that will become one of the goals. For example, it can be “Received payment details”. Pull it, save the goal and click on “Add to attributes” in the right upper corner. After this, you can set the weight for this goal.
Step 5. Weight setup
We see the funnel and stages in this section. Besides the last one “Successful deal”, there are interim ones. We want to attribute parts of the revenue to these stages. The sum of weights doesn’t have to be equal to something certain. The most important thing here is to understand which of the actions is the most important. For example, the weight might be divided like that:
- the first visit is highly important for us — weight 30;
- another visit is less important — weight 2;
- the first call is important but we set the minimum weight for it, read below for the explication — weight 0;
- another call — weight 5;
- the deal created: due to our integration with CRM this will happen automatically during the first call — weight 20, that’s why the first call has 0 weight;
- prepared an offer: we managed to convince the client — weight 40;
- successful deal: if in most cases, there is payment after prepared documents, so the value is not high — weight 10.
We also need to set the time decay that is equal to the deal cycle. Pay attention to several goals that can be completed during one session. That’s why the weights of some goals add up for one session. Thus, with time decay, the rate is deducted from its total weight.
It’s just an example. If you want to set weight and time decay, you need to analyze your business and the most common interactions of your customers. Whether they call instantly or prefer to fill in the form firstly, etc.
There is a small customization of attribution models in Google Analytics. It is possible to add additional weights for interactions with the basic model. However, there is a “manipulation” moment — if you had a visit from Google paid ads, its weight can be multiplied by five. Nevertheless, in Ringostat all data is displayed clearly and a business owner or a marketer will receive the real picture.
After the setup, the same-titled report will be created in the Analytics section. For example, it can look like that:
The data on revenue, cost, ROI and number of closed deals is also displayed in the following reports on:
- ad campaigns effectiveness;
- ad campaigns effectiveness — detailed one (down to keyword level);
- calls from PPC;
NB Due to the formula that uses Ringostat if ROI > 0, it is considered as successful.
Example of end-to-end analytics work
Let’s set an example of weights that we were discussing above.
- 60 days ago there was the first session from Google paid ads, that received weight 30.
- 25 days ago there was another visit from the banner ad that included the first call, and the deal was created — 2+0+20=22.
- 20 days ago there was another visit from remarketing — weight 2.
- 15 days ago there was one more another visit from Google paid ads. This visit included another call and the sales rep agreed with the customer to prepare documents — 2+5+40=47.
- Today we have a successful deal after the direct visit from organic — weight 10.
The time decay in our example is 30 days and the transaction amount is 20000. Only the first session from Google cpc goes beyond the time decay. However, due to time decay overlaying, the weight for this stage is adjusted. It will be 30*0,25 = 7,5.
By other actions Ringostat automatically counts the proportional contribution of these channels to the deal, considering the transaction amount. All in all, the result, rounded for convenience, is the following:
- visit from Google cpc — 2340 USD;
- visit from the banner ad — 3852 USD;
- visit from remarketing — 393 USD;
- another visit from paid ads — 10367 USD;
- visit from organic — 3048 USD.
As a result, we receive the data that won’t be evident without end-to-end analytics detailed settings. In the report, we see that the part of Google paid ads in the closed deal is 12316 USD of revenue. It’s a reason to invest in it to increase profit. Moreover, we understand the cost of each of these visits.
Admit that it would take a long time and be hard as well to make all these complex calculations on your own. However, Ringostat end-to-end analytics automatically make it for you — in a few seconds, you receive the report with accurate data.
Summary: what gives you Ringostat end-to-end analytics
- By combining data on advertising costs and the revenue from it, you understand the cost recovery of investments in marketing. This will also help to understand the customer journey from the first call to the purchase.
- Due to flexible settings, you can customize end-to-end analytics exactly for your business. Do not use default attribution models, configure them with your funnel. With the time decay, set the weight to certain actions of users.
- Work in one window. You don’t need to create dashboards, manually collect and configure data from different systems — Ringostat end-to-end analytics will do it for you. Receive key features via ready-made reports.