The title of Chief Marketing Officer is a weighty one. The CMO is ultimately the party responsible for the effectiveness of a marketing campaign. The CMO also has to constantly monitor the marketing strategy and check whether it’s going where it’s supposed to go. Therefore, it’s no wonder CMOs have gained a reputation as whimsical and very loud bosses.
CMOs are often under enormous pressure to show ROIs for whatever tactics a campaign is using. The problem is, it’s not always so easy to track these metrics. Tools like Google Analytics often present compound data, rather than specific data. Therefore, CMOs often market without knowing how effective a tactic really is.
CMOs can avoid these data headaches by using tactics like call attribution, also known as call tracking. Call tracking allows a business to evaluate the effectiveness of a marketing tactic with only a tiny margin of error. Call attribution is easy to implement and requires no technical expertise. In addition to that, let’s look at the top four reasons why all CMOs love, or will love, call attribution:
1. Gather Comprehensive Data
Call attribution is one of the best ways to generate comprehensive tracking data on any marketing campaign. You can use call attribution with both digital and traditional forms of marketing to equally advantageous effects. With call tracking, marketers can evaluate leads generated by an advertising channel, platform, or even a keyword. No other type of traffic analysis allows businesses to evaluate lead generation per keyword. It’s easy to break down compound data by these categories. Call attribution is also the best method to evaluate conversions, because callers are already halfway there to becoming customers. Therefore, call attribution is a must-have tactic for businesses that want data to increase sales and conversion rates.
2. Evaluate Social Media Campaigns
Social media advertising is notoriously difficult to evaluate. There are no good tools right now to gather specific data for social media campaigns. Marketers right now analyze the effectiveness of a social media campaign largely based on likes, shares, followers, and such unreliable metrics. There is no definite statistical relationship between a Facebook like and an actual sale. People can like and share posts of social media without any intention of making a purchase. Therefore, in order to find out definitely if a social media campaign is truly effective, you will need the analysis power of call attribution. Call tracking will help markers to gather statistical data with regards to lead generation and conversion rates per each platform and post.
3. Polish the Marketing Strategy to Drive More Leads
CMOs are responsible for the overall effectiveness of a marketing campaign. So, if a campaign is failing, it will be the CMO’s neck on the line. Therefore, if a CMO needs to keep a marketing campaign vibrant with high ROIs throughout the year, he or she will need lots of data. As explained above, call attribution can generate this data. Then it’s only a matter of time before a marketing strategy is upgraded to be highly effective.
4. Great Returns for the Money Spent
Call attribution will allow businesses to save money that might otherwise be wasted on an ineffective advertising channel. Call attribution can identify the most lucrative advertising channels and tactics for a business. Then it’s a matter of time before the marketers focus on the right channels to promote. Not only does this boost sales, but it also saves a lot of money for the company.
Once you carefully consider the reasons above, you will realize why CMOs cannot live without call attribution. This method can make your marketing strategy highly responsive, increase conversion rates, and help eliminate money-wasting channels.