Prove marketing effectiveness and demonstrate value to your executive team with these ROI tools.
Marketers are under intensifying pressure to display concrete results and prove ROI.
Stakeholders, company executives and clients all want proof that marketing brings valuable benefits and positively impacts the bottom line revenue.
But, with today’s consumers using more and more channels to communicate with companies, the process of getting an accurate, complete view of ROI has become a pressing challenge for marketers.
In fact, during a study, we found that just over half of marketers are confidently tracking marketing ROI.
Fortunately, there is a solution to this problem.
We’re talking about ROI tracking tools.
In this article, we’ll discuss:
Ruler breaks down the barrier between marketing and sales by identifying which channels contribute the most revenue, not just clicks and conversions. It attributes revenue data from your CRM to your marketing channels, allowing you to calculate your ROI more accurately.
Learn more by reading our guide on how Ruler attributes revenue to your marketing
ROI tools are an absolute must for anyone who’s serious about tracking and monitoring marketing effectiveness.
Essentially, ROI tools allow you to determine which marketing channels and campaigns have the greatest impact on sales and revenue.
They allow you to view your digital ROI by tracking how your marketing directly impacts your sales and deals.
Without ROI tools, you’re unable to determine what channels contribute the most valuable results. You run the risk of wasting your budget on campaigns that underperform, or worse, don’t deliver any value at all.
Tracking return on investment is important, no matter how big or small you are.
The end goal for almost any marketer is to increase revenue and bring in new customers.
And ROI is a key metric when determining if your marketing is helping to drive profits for your business.
Related: How to definitively prove your ROI
For a long time, however, marketers have focused on lead metrics to measure success.
In fact, according to a survey by Globalspec, 57% of marketers use leads to measure the success of their marketing initiatives.
In all honesty, we can’t blame them.
We all like leads and getting conversions. It’s in our marketing DNA.
Just like clicks, however, leads are not guaranteed revenue.
But by focusing on the revenue outcomes of your marketing, you can easily clarify which strategies have had the best impact on your business and optimise performance to drive revenue faster.
With so many tools to choose from, how do you decide what’s best? It’s important that you recognise the unique needs of your business first before making any big investments or commitments. Below, we’ve listed a few factors that you can take into consideration to help make the right decision.
Now that you know what to look for let’s consider some tools to help track and measure your marketing ROI.
Becoming a revenue focused marketer is easier than you think. With the right tools at your disposal, you can streamline your marketing and sales processes to calculate your marketing ROI more accurately.
To find out if your marketing is contributing revenue, you need a solution that can capture all interactions throughout an individual customer journey and automatically attribute closed revenue to your influencing marketing channels, campaigns, keywords and more.
What you need is Ruler Analytics.
Using Ruler, you can easily identify the source of your leads, measure how they move through the pipeline, and track whether or not they convert into revenue.
Essentially, Ruler works by tracking each and every visitor over multiple sessions, traffic sources, keywords and more.
When a visitor converts into a lead via form fill, live chat or phone call, their information is sent to the Ruler database and matched with their marketing touchpoints to create a customer journey.
Naturally, your leads will move through the pipeline over several days, weeks or even months. Ruler will feed pipeline data into its reporting, so your marketing team can keep track of leads and determine whether they’re or not they’re adding enough quality to the later stages of the funnel.
Once that customer finalises a purchase, Ruler accurately attributes credit back to the channels, campaigns, and keywords that influenced the conversion. Ruler can integrate with almost any marketing tool or application. So you can view marketing source and revenue data in the tools you use every day, such as Google Ads and Analytics.
Our tool provides a list of features that can help you better understand your marketing ROI:
Pricing for Ruler starts at £199 a month and it has various plans to suit your specific needs. You can save 20% by paying annually and there are special rates for agency partners.
Want more information on Ruler and the services we offer? Grab our comprehensive guide on how Ruler works and see how it can boost the quality of your marketing measurement.
Why you need Ruler Analytics
Cyfe offers an all-in-one business dashboard solution using real-time data.
It integrates seamlessly with an extensive range of tools including, Salesforce, Google Ads, Xero, Quickbooks, and many more to give a complete view of your business performance.
The main benefits of Cyfe are its pre-built widgets and reporting abilities. You can easily build and customise dashboards to measure and monitor the ROI from each marketing campaign and channel.
Pricing: From $29/month
Features: Unlimited history, custom themes, custom logo, unlimited data exports, embedded analytics and more.
If you’re selling products or have a shopping cart on your website, Google Analytics is the best way to get started with revenue tracking.
It’s free to use and offers a wealth of information about the performance of your website. A little bit of code in your shopping cart, and you can track which of your marketing tactics are driving the most sales.
But, what if you don’t sell any products but instead use your website to generate leads online or offline?
One option is to assign monetary values to your goals. In Google Analytics, you can allocate monetary values to your goals, which will appear in your acquisition report every time a goal is completed.
For example, let’s say you set up a goal that triggers whenever a user completes a form on your website, and you add £100 to the value. Every time a user fills in a form Analytics will attribute £100 to the marketing channel that influenced the conversion.
This might sound good in theory. But, as any reputable marketer knows, no conversion or lead is worth the same value. When it comes to tracking leads, it’s best to stay clear of goal values in Google Analytics.
You’re much better off using a tool like Ruler and feeding in revenue data automatically. Doing this will give you a more accurate view of your marketing ROI, allowing you to optimise for maximum results.
Send marketing source data to your CRM and enrich your Google Analytics with web form, phone call and live chat activity to understand which marketing sources generate the most revenue, both online and offline.
Learn how to unlock marketing revenue in Google Analytics
Features: Conversion tracking, event tracking, session tracking, engagement, attribution and more.
Kissmetrics is another tool that highlights your best-performing channels in terms of revenue.
With the Kissmetrics revenue reporting, you can highlight how much money you’ve made from marketing, where your revenue is coming from and what campaigns have the highest lifetime value or lowest churn.
Kissmetrics also shares some similarities to Google Analytics as it allows you to track metrics such as page views, bounce rate and time on site.
Features: Management of data, events, reporting, campaigns, customer profiles, accounts and more.
Plannuh is a marketing tool that helps marketers track and monitor important goals, campaigns, budgets and return on investment. It works by connecting all the tools that marketers use to build plans, budgets and reports. Plannuh consolidates all your marketing data for a unified view of your marketing activities.
Features: Automed budget and expense management, ROI tracking, goal tracking and more.
If you’re not tracking ROI, you’re not effectively measuring your marketing performance.
Rather than guessing which tactics lead to revenue, use ROI tools and start evidencing the true impact of your marketing efforts.
With tools like Ruler, the process of tracking your ROI couldn’t be any easier.
Ruler takes out the legwork by seamlessly attributing revenue to your marketing across multiple touchpoints, allowing you to focus on building and growing your business.
Want more information about Ruler? Download the guide on how Ruler works or book a demo and see it in action for yourself