In 2018, businesses are accustomed to validating decisions with data –– especially budgetary decisions. This makes reporting for cost per lead (CPL) and return on ad spend (ROAS) critical for today’s marketers. Mining and surfacing this data is the name of the game.
Of course, that’s easier said than done. There are high-funnel proxy marketing metrics out there that are easy to get, like click-through rate (CTR) and cost per click (CPC). But gaining a full understanding of your client or internal stakeholder’s CPL by campaign –– attributing both digital and offline leads to a single campaign or channel — is tedious and challenging.
We’re hoping to make that easier.
Introducing the new Multi-Touch CPL report
Today, CallRail is beginning to roll out a series of new features that will help you to calculate CPL and create custom reports without leaving the application. Off the bat, you can use our CPL calculator to tie inbound call data to ad spend data from Google Ads, as CallRail will now push ad cost from Google Ads right into the application.
Existing reporting options to prove ROI for your clients require time-intensive — and often inaccurate — cross-platform analysis, inevitably leading to failed optimization of marketing campaigns. But now, if you’re looking to drive more calls to your client’s business, you don’t have to wrestle with CSVs and pivot tables to pull together a Frankenstein-looking report. You can get the insights you need in our refreshed reporting dashboard, helping you to reduce spend on high-cost, low-lead campaigns and allocate those resources to more effective initiatives.
We beta-tested this product with a select group of CallRail users who know first-hand the headache of wrangling CPL figures for the campaigns they’re running. One of those beta testers was Dana DiTomaso, president and partner at Kick Point, a digital marketing agency in Edmonton, Alberta. Here’s what she had to say after giving the tool a test drive:
“If a client is listening to phone calls that were generated by a Google Ads campaign, with this tool, they’re able to get a better grasp on whether or not that call brings them value and adjust their spend accordingly. We’re super excited to use the tool to provide additional value and streamlines everyday custom reporting processes for clients.”
Cost Per Lead by attribution model
You can calculate cost per lead based on five attribution models in the CallRail app: First-touch, Last-touch, 50/50, W-shaped, and Qualified.
Each model attributes lead credit to different milestones in the sales funnel, so you can see which ads drive which kinds of touchpoints and compare it to the cost of the ad. Choosing different attribution models will change your cost per lead total based on how that model weighs each milestone.
By attaining solid CPL data, you can spend marketing dollars wiser, reducing client churn and instilling confidence in the effectivity of your work.
Activating Multi-Touch CPL Report
To successfully utilize CPL reports, users must have the following in place:
- Essentials plan or higher
- Admin access
- Google, Facebook, or Microsoft Advertising integration activated
- Visitor-level tracking
Existing admins will have access to the Multi-Touch CPL report located on the reports page, if you’re an admin and not seeing the report listed on your sidebar, please submit a ticket to our support team to activate (or deactivate)*.
*Note that CallRail offers primarily self-help and web-based support during the term of the beta period.