The success of any marketing effort, including your Pay Per Callcampaign, is dependent upon the ability of your company to track and analyze data. There are a number of key performance indicators (KPIs) that businesses could track, but don’t, throughout the life of a given campaign. Tracking your KPIs is important because it gives you a tangible tool for measuring the ROI on your marketing efforts. So, which KPIs are you not tracking that you should be?
Total Revenue Created by Marketing
Every company tracks its revenue, but do you have the ability to determine what was responsible for that revenue? How much of your revenue is the result of people simply walking into your store off the street? How many people interacted with your business online, generating revenue through online sales? Or, how much of your revenue resulted from click-to-call services attached to your Pay Per Call campaign?
Members of your sales team get credit when they close a deal and generate revenue, but what about your marketing team? In many cases, your sales team has no one to deal with if the marketing team doesn’t drive consumers in their direction.
Understand Your Buyer’s Journey
In order to drive sales upward and sustain a successful Pay Per Call campaign over time, you need to understand the number of touches it takes a consumer to initiate contact with your business, and more importantly, how much time is spent at each stop along the way to contact. Gaining insight into the lifecycle will help you shorten the sales cycle and offer your consumers a more direct path to sales.
Identify Campaigns by Influence
Do you know which of your marketing campaigns are working and which ones are floundering? This concept piggy-backs off the last point, because when you better understand the full journey consumers take before interacting with your business, you better understand the stops along the way that have the greatest influence in their decision. Ignoring this particular KPI can result in improper distribution of credit. You may place too much value on the final touch, when it was the mid-level interactions a consumer had that drove them to that final touch.
Looking into the Future
The ability to predict your revenue and pipeline marketing into the next quarter or next year is helpful. With the help of a reliable prediction algorithm, you can make informed decisions and remove the guesswork when it comes to planning your budget into the next quarter, and more effectively allocate money to the marketing efforts that work best for your company.