How to measure ROI with call tracking
Track ROI with call tracking and analytics
Return on investment, or ROI, is used to measure success over time and helps steer future business decisions. ROI is especially important when it comes to marketing. Your marketing ROI illuminates which marketing channels you should be spending money on and the tools that are worth investing in. More broadly, ROI can determine whether your entire marketing strategy needs to be changed or if you’re on the right track. While most can agree that ROI is an indispensable metric, many would also agree that accurately measuring ROI is a challenge.
This is especially true if the majority of your marketing is digital and your customers make purchases offline. In fact, 50% of B2B marketing executives find it difficult to attribute marketing activity directly to revenue results.
When it comes to digital marketing ROI, there are a number tools that marketers use to measure the return on their investments. A couple of the most commonly used tools are Google Ads (formerly AdWords and Google Analytics. While these tools are useful for tracking web sessions, clicks and ad spend, they don’t provide the full scope of the buyer journey that ultimately helps you determine ROI.
Enter call tracking. Call tracking gives you insight into what happens between the first website visit and the time the lead makes a purchase. This level of comprehensive data is the key to efficiently and accurately measuring ROI.
4 ways to use call tracking to measure ROI
Visitor-level Call Tracking – With Visitor-level call tracking, website visitors will see a unique tracking number when they land on your site. That tracking number will follow them as they navigate throughout the site and when they subsequently return to the site. When the visitor calls one of your tracking numbers, you will be able to attribute that call to the source, paid ad and keyword that initially brought the visitor to your website. With this knowledge, marketers can easily track which keywords are generating good leads.
Campaign Call Tracking – Campaign call tracking is ideal for tracking revenue from leads generated by channels that more difficult to measure, like social media and trade shows. In campaign call tracking, simply assign a tracking number to a specific online or offline source.
Multi-Channel Attribution – We’ve discussed how call tracking can provide visibility into the keywords that visitors used to initially land on your site, but the impact doesn’t stop there. With multi-channel attribution, you are able to view the entire buyer journey. Let’s say, for example, that a prospect first lands on your website by clicking on a Google Paid advertisement. The next time they visit your website, they do so by clicking on an organic search result in Google. They give you a couple calls before landing on your website on a direct visit. After 25 days, the buyer calls your business to make a purchase. Call tracking allows you to see each source that this buyer used to get to your website, which gives you the full scope and value of each marketing channel.
CallScore – CallScore makes it easy for you to easily identify which calls were good leads without having to listen to each recording. Call tracking tools like CallScore automatically mark calls as good or bad leads, which allows you to quickly see which marketing campaigns are generating leads that will lead to sales.
The best way to properly assess marketing ROI is to link every lead back to their specific marketing source that drove it– including phone calls. Without call tracking, it’s not possible to see the full picture of your marketing efforts and results. Are you missing out on the data that you need to measure your ROI?