All businesses need to market their products and services which more often than not means coming up with a campaign. Unfortunately, the work does not end there, you then have to determine how successfully or unsuccessfully your campaigns are running! This in addition to changing those that are simply not working! The work never ends but that’s where LeadByte comes in. Monitoring your campaigns allows you to change things that are failing and identify which marketing techniques are working. In this next post, we will be showing you how you can tell if your campaigns are not achieving the results they should.
What is your ROI looking like?
Knowing your Return on Investment numbers is a sure-fire way to check whether your campaign is working or not. With LeadByte we let you determine what your ROI is and what it is going to be before the campaign has ended, which is imperative to successful campaign marketing. We have what is known as a Buyer Summary Report, with this you can select a date range, supplier and SSID you wish to check. From this, you are able to monitor how each specific campaign is doing and what revenue it is making which means you can quickly ascertain the profit margins and ROI of each campaign on each platform they are running on. If you can see you are not getting the ROI you need, you can make changes to your campaign instantly!
Cost per Lead, Cost Per Click, Conversion Rate
These three elements are key indicators when trying to determine whether you need to change your performance marketing campaign. Measuring the cost-effectiveness and expense of each sale and how many users have actually converted is imperative. This is often used to determine how well your campaigns on Facebook and Google are running which is a great way to see if you should change your campaign. When you work with LeadByte, we take things one step further. Let us say, for example, that you have an excellent conversion rate and cheap CPL and CPC, seems like you are doing very well in your campaign, yes? Not necessarily, if these leads are not selling as well to the buyer due to issues such as HLR rejection, duplicates, invalids etc, it may not be doing as well as you think. Changing and optimizing a campaign in this regard would be a bad move. LeadByte allows users to truly see where they are making their money with highly accurate results that leave little to no room for error. If you then combine this with reporting on Facebook and Google, you can scale up the right campaigns with total confidence.
Using LeadByte in conjunction with a tool like Google Analytics, you can (and should) measure and analyse your sales purchase funnel. This way you will be able to see which leads were generated by each individual campaign based on their interactions, visits, leads and sales. In doing so, you identify various drop off points or weak areas in each campaign which then tell you more about your traffic and sales cycle. This is imperative when determining whether you need to change up your campaigns.
We hope these five simple but effective steps help you make better decisions in your marketing campaigns, if not LeadByte are always here to help you on your way, take a look at our live demo to see how our reporting features work for yourself.
As Jeff Esienberg says, “It is much easier to double your business by doubling your conversion rate than by doubling your traffic.” Use campaigns correctly and rather than getting traffic you will increase your conversions and when you use LeadByte you are sure to have all the tools at your disposal to do so.