Right on time for marketing budgeting season and annual Return on Marketing Investment [ROMI] reporting, we have a big TRICK and a cool TREAT for you for Halloween!
We’ve just released our Return on Ad Spend [ROAS] feature, which enables you to tie performance all the way to revenue, a critical feature that traditional reporting platforms can’t support.
[True] Return on [B2B] Ad Spend
In B2B, most of your sales don’t happen online; they are closed by your sales reps, either in person or over the phone. By default, paid social channels such as LinkedIn, Google and Facebook ads don’t have access to these sales, and as a result, there isn’t a good way to know how much revenue was generated by a certain channel, campaign, or ad group.
To get around this limitation, most marketing teams measure form fills, but since different traffic sources attract accounts of different quality, you need more than form fills and goal completions to make marketing decisions. One channel may generate a handful of high-converting long-term accounts, while another may generate nothing but unqualified accounts.
To make matters worse, the equation traditionally used to calculate Return on Ad Spend has been vastly oversimplified. A simple equation means that each number holds major weight in the outcome. If you’re using traditional marketing mechanisms to determine your campaign revenue, and various contributions to it, your numbers are almost certainly grossly misrepresented.
The only way to truly know how your digital ads are impacting your business is to tie them all the way to revenue.
Without CaliberMind, there are two options to solving this problem:
- Use native Salesforce and Google Analytics integration. Good option, but it only works for Google Analytics 360, which starts at $150,000/year.
- Implement a custom integration. You can hire an agency or task in-house developers to do this. Not a bad option, but it usually takes a lot of time and effort. Again, $$.
CaliberMind now allows you to connect your CRM, LinkedIn, Google & Facebook ads (Twitter & Bing coming soon..) and find out your true Return on Ad Spend, with performance reporting all the way to revenue contribution.
With ROAS you can:
- Measure the actual dollar value of each campaign and channel.
- Track the source – the first-click channel and campaign on the opportunity (for true Multi-Touch and Chain-Based Attribution, see our other reports).
- Increase Marketing ROI – invest only in channels that actually drive sales.
Once you connect your paid social channels and the data syncs, ROAS will show you:
Standard Ad Performance
- Avg. CPM
- Avg. CPC
- Total Spent
Side-by-side with Imported CRM Data:
- Conversions (to Leads)
- Cost Per Conversion
- Opportunities Created
- Cost Per Opportunity
- No. of Deals (Closed/Won)
- Return on Investment (you can drill down by Channel, Campaign & Campaign Group)
To implement ROAS, please make sure to review Best Practices for Tracking Return-on-Ad-Spend (ROAS), and contact our Customer Success team if you need help.