There are lots of ways in which you can make the most of the digital marketing landscape. You will need to know the different tools and ways in which you can achieve this feat. One such effective and perhaps the most commonly used tool is Google Analytics. This is the tool that will provide you with different useful metrics that will help you to go ahead with your marketing strategies, mobile or any other. This will ensure that you gain the highest ROI.
The new Google Analytics is your best friend because that is what it is really. This will help you in all aspects of your digital marketing aspects including:
- Your social media channels
- Your website landing pages
- The innumerable amount of data points that may be collected on a daily basis and
- A proper and distinctive analysis of these to enable you to design the best marketing strategy.
Your business on the whole will be benefited from these data points and analytics. Therefore, the Google Analytics tools will help you to maximize the conversion rate and at the same time will help you to bring down the cost.
Google Analytics tool is the most popular and commonly used tool by ecommerce sites as well as other sites such as LibertyLending.com that deals with financial products and services.
Help in cost analysis
However, if you want to get the highest return on your investment, all you have to do is use the tool in the best way and incorporate the results of the analysis of your data points correctly and accordingly. This will not only provide you with a scope to yield huge benefits but also help you to leverage your bottom line.
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If you are new to using this tool, it is possible that you will wonder how you can get access to these data points and analytics and what exactly you need to do with the results. Here are a few specific ways that will help you to extract the maximum benefits by using the Google Analytics tools and the metrics that it will provide to boost your return on investment.
To start with, you can use these Google Analytics metrics for better and proper cost analysis of your marketing strategies. You will get different categories of metrics under the ‘acquisition’ category within Google Analytics.
- These are very useful data points that you should track and analyze when you focus particularly on your cost analysis.
- These metrics will also allow you to determine the cost per click as well as your ROAS or Return On Advertising Spend.
These metrics are very useful for different types of businesses for their various types of marketing campaigns including:
- Social media ads
- Affiliate campaigns
- Email campaigns
- Display ads
- Bing ads and more.
In order to use these metrics for your beneficial purpose, you will need to import cost data into the Google Analytics. After you have done that, the tool will use it and put these all together into the final analytical report. You can filter this specific data according to your specific marketing campaign or certain attribution models. This data is crucial to make adjustments to your marketing campaigns.
In order to analyze these data points, you will need to make sure that there are enough impressions and clicks recorded. Otherwise, you will not have enough data that will be rich enough to analyze better and make an educated and informed decision.
Cost Per Acquisition
You will find this Google Analytics metric under the “conversations” tab in spite of its title, “acquisition.” This metric will help you in many ways such as:
- This specific metric will allow you to find out how much it will cost you to perform a specific action.
- This is a unique metric that will also allow you to determine the CPA or Cost Per Acquisition for different attributions.
For a business marketing there are different specifics and metrics that will ensure that your efforts are providing the results as desired and will eventually result in high ROI. These metrics and attributions include:
- Non-direct clicks
- AdWords clicks
- Data-driven clicks and
- Custom attribution models as well of your choice.
However, to make sure that these attributes work just the way you want when it comes to CPA, you must be aware if the changes that it can bring to the CPA resulting from different external or internal sources.
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For example, the external CPA influencer will be more than one business same as yours started advertising. This will inevitably result in an increased competition for in the limited ad space. This will in turn increase your CPA because you will now need to spend more for every click generated.
Know the user flow
The Google Analytics tool will also help you to know the user flow which will help you to find out the specific path your customers commonly take to make a buying decision. This, surprisingly most of the business owners do not find to be vital but in fact it plays a significant role in determining the ROI on your marketing efforts.
- This user flow will help you understand what are the factors that are driving sales to your business and
- It will also help you to find out those specific factors that may be driving your potential sales and prospective customers away when you compare both the less successful and more successful routes.
That means, in a way, when you use this data it will help you to prioritize your products or services according to their performance metrics. You will be able to select those channels that are performing well and thereby reduce wastage of your advertising spend and at the same time increase your marketing ROI.
Last but not least, the Google Analytics will also help you to find the affinity of your customers towards your products or services. The affinity metric in Google Analytics will help you to tailor your marketing campaigns so that it serves your purpose, suits the needs of your customers and provide high ROI.