“If your business is not on the Internet, then you are not in business” – the famous phrase of Bill Gates. Entrepreneurs understand the meaning of this statement and try to do everything for their product or service to be advertised on the Internet.
But which communication channel is suitable for business and will bring money, and not empty applications? Every businessman asks himself a question. Only end-to-end analytics will answer it.
End-to-end analytics is a tool that aggregates data across all advertising channels and shows their performance based on sales, not leads. The system is useful in that it allows you to understand how to plan the budget and which communication channels to use to maximize profit.
Why end-to-end analytics and how does it work?
Let’s look at an example. John, a marketer, has launched an advertisement for a toy business. John is a professional and has used Google Ads, Facebook, Instagram, YouTube and TikTok channels. The entrepreneur is satisfied, the sales are going on, people are buying in the online store, making phone calls, coming to the offline point (to the store). But how to understand which communication channel brings money to the business, and which one drains the budget?
End-to-end analytics will help:
– Automate the management of advertising campaigns and reduce the proportion of advertising costs.
– Analyze all important business KPIs: income, expenses, sales, clicks, etc. With this, you can control the budget for online advertising campaigns and measure their effectiveness across all communication channels. Find “holes” where money flows and eliminate them.
– Segment customers according to their purchasing power and, based on the data obtained, extend the LTV of the customer base.
– Conduct analysis to calculate LTV and understand how to increase it.
LTV (customer lifetime value) is an indicator of the profit that the client has brought to the business over the entire period of work.
Everything is fine, but what to do with calls? The client saw an advertisement in one of the channels and did not buy it, but saved it in notes and then called the number indicated on the website. To do this, you need to connect call tracking to analytics.
The system will assign each client a unique visit ID number, by which you can track the source where the buyer came from, actions on the site, time spent on the site, and much more.
Of course, you can bring the data from each communication channel into an Excel file and independently carry out the analysis, if you have knowledge in analytics. But what if the sources are not 3-4, but 10? Then the entrepreneur will spend all his precious time not on business management, but on drawing up reports and analyzing them.
Today, a large number of services can be found on the Internet that can link data between all advertising offices, online chats, call tracking and CRM systems into one whole. On average, this functionality costs entrepreneurs $ 100-200 per month + setup (one-time payment).
The biggest advantage of internet marketing is the collection of information and the subsequent analysis of the data. This allows you to increase profits and reduce the cost per result. Through
analytics is a necessary tool in business. With the help of which, the entrepreneur counts the profit, and not the number of clicks or applications!