As all marketers know, reducing your Cost Per Lead (CPL) is a vital part of efficient marketing. Call Tracking Analytics can provide you with all the vital information you need to keep your costs as low as possible while generating the best returns for your business.
What is Cost Per Lead?
Cost per lead or CPL is calculated by dividing the total cost of generating all your leads by the number of leads acquired.
It is a vital metric in calculating your Return on Investment (ROI) accurately, yet many marketers are not working out their CPL correctly as they are not taking their telephone leads into account. According to PPC marketer Jacob Baardsgaard,
“approximately 75 percent of advertisers who generate inbound telephone leads don’t track them as conversions.”
This means marketers who aren’t using Call Tracking in analytics are likely to be estimating their CPL too high, as they are only taking into account the number of clicks their online marketing campaigns are producing, rather than including the telephone leads those campaigns have generated.
Call Tracking Analytics provides you with a more realistic CPL, by enabling you to see exactly which of your campaigns are generating inbound telephone leads by tracking each individual customer’s journey.
Here are some examples of how Call Tracking in analytics can help reduce your CPL:
Call Tracking Analytics allows you to focus on quality over quantity
If you run Click To Call advertising campaigns, such as PPC, SEO and Social Media, it’s easy to focus on how many clicks each campaign is generating. However, not all clicks lead to conversions; they may come from competitors or robots.
Using Call Tracking in analytics enables you to see the individual journey that led each visitor to your website, allowing you to concentrate on the quality leads that are likely to generate revenue for your company. This also prevents you from continuing to spend money on channels that are underperforming.
Call Tracking can reveal keyword level data
The success of your PPC and SEO campaigns depends on getting your keywords right. Call Tracking Analytics allows you to see exactly which keywords each customer searched that led them to your website. This allows you to target your marketing more effectively by using relevant keywords that potential leads are actually searching for.
Helps identify individual visitor journeys
Ruler Analytics Call Tracking works by using Dynamic Number Insertion (DNI) technology. This assigns an individual number to each visitor to your site, which can then be tracked so you can see exactly which of your ad campaigns each visitor clicked on, and which pages of your website they visited before they made their call.
This allows you to make improvements to both your advertising and your website in order to target your audience effectively.
Allows you to listen back to your phone calls
Recording calls is vital if you want to understand the type of customers you are attracting and what they actually want from your business. This information can then be used to inform your marketing activities. Call Recording is also useful for training staff to provide the best standard of customer service.
Provides you with in depth statistics about telephone calls
Ruler’s Call Tracking Analytics software shows you any calls you have missed. This allows you to call back prospective customers so you don’t miss out on any business, even when you have to be out of the office.
Call Tracking can also help reduce CPA
In order to get the most out of your marketing budget, in addition to your CPL, you also need to focus on reducing your Cost Per Acquisition (CPA).
This is the next stage on from CPL. As you know, not all leads become customers; a lead can simply have visited your website and then taken no further action.
CPA is the cost of each person who has actually become a customer and generated revenue for your company. It is worked out by dividing the total cost of your campaign by the number of customers it has generated.
Using Call Tracking in analytics allows you to calculate this number realistically, as it takes your telephone business into account.
Case Study: National Claims Helpline
National Claims Helpline is one of the UK’s leading claims management companies. The company needed to cut its advertising costs and allocate its marketing budget more efficiently.
It was running several PPC and AdWords campaigns, but had no Call Tracking software, so they were using a lot of guesswork when it came to assessing which keywords were performing well, and which campaigns were generating their inbound telephone leads.
The company invested in Ruler Analytics after a free trail, and saw a return on their investment within just two months, as the insights they gained enabled them to target their marketing much more effectively.
Try Ruler Analytics for Yourself
If you would like to see how Ruler Analytics Call Tracking can help you lower your CPL, give our friendly team a call and book a FREE demo. In addition, for all the latest industry insights follow Ruler Analytics on Facebook, LinkedIn and Twitter.