The Green Sheet Online Edition
March 11, 2019 • Issue 19:03:01
Multichannel cost-per-lead attribution, analysis
CallRail, a call tracking and analytics provider, introduced Cost per Lead (CPL), a solution designed to analyze responses from multiple channels to determine a marketing campaign's true ROI. The in-app cost-per-lead solution provides insights from calls, text and form submissions, enabling marketers to assess marketing effectiveness, stated Kevin Mann, cofounder and chief product officer at CallRail.
"With CallRail's enhanced cost-per-lead solution, marketing pros can now clearly see how many leads they are generating across multiple channels and through various interaction types, and they can report this information in an easy and digestible way," Mann said.
Madelyn Newman, director of product and customer marketing at CallRail, stated that CPL is easy to set up and use. "It only takes two clicks to activate the solution; CallRail does all the math on the back end," she said. "We know that anyone doing multichannel attribution is pulling data from a lot of different places and the aggregated results can end up looking like a Frankenstein."
Democratized multitouch attribution
Newman went on to note that multichannel lead reporting is being done at the enterprise level but has not always been available to small and midsize businesses that lack the time and inhouse resources to organize and evaluate advertising responses from multiple sources.
"We democratize call tracking by making multitouch attribution accessible to a wider audience," she said. "It has been shown to be highly effective when combined with CallRail's Call Score analysis, which analyzes the calls and separates good calls from SPAM. Multichannel cost-per-lead goes a step further by showing marketers how much they spent on the good calls."
Call Score has always been able to count qualified marketing leads, Newman stated. By combining Call Score and multichannel reporting data, marketers can derive immediate insights while eliminating time-intensive cross-channel analysis, she noted.
Single-access, multichannel view
Newman mentioned that phone calls continue to be a predominant method for customers to communicate with companies and brands. Business owners need to understand which campaigns are driving call traffic and converting shoppers into buyers.
"Consumers are transacting on multiple channels and companies need a way to evaluate incoming leads from mobile, online and social media platforms," she said. "CallRail is continuously innovating and improving products that help agencies and marketers across all industries prioritize what's driving real results."
The cost-per-lead solution addresses common marketing challenges in the following ways:
- Multichannel attribution data: Marketers can use a single platform to access attribution data from multiple channels and sources, identifying which marketing sources and campaigns are generating leads at different parts of the funnel.
- Custom client reporting: Easily-consumable custom CPL reports help marketers assess a paid campaign's effectiveness. The custom reporting engine within the platform helps marketers build reports for clients based on call results and durations while identifying trends and key performance indicators.
- Comprehensive, single-access view: Data is often siloed between channels, making it challenging for marketers to understand how much they're paying to acquire a specific lead. CPL tracks inbound phone calls and AdWords campaigns, consolidating data into a reporting dashboard that helps agencies evaluate cost-per-lead and realign strategy to improve results.
"Even if a marketer has solved the attribution puzzle for their client or organization, that work is rarely fast and never easy," Mann said. "And with the disruption of digital, agencies need to own data integration and reporting to prove value and steer clear of the growing trend of businesses taking their marketing in-house. Our new in-app cost-per-lead solution is helping agencies demonstrate ROI in a way that was previously difficult and tedious to come by, which will assist in improving client retention and increasing new customer acquisition."
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