Increase in Ad Campaign ROI
Ledbury is the Richmond, VA-based luxury shirtmaker and menswear brand that is best known for dress and casual shirts that prioritize great fit and superb quality. Will Altherr is the Digital Advertising Manager, responsible for digital marketing initiatives, reporting and new client acquisition at Ledbury. This is his story on how he tracks ROI in paid channels.
At Ledbury, we take new client acquisition seriously just like everyone else. I’m in charge of allocating investments to specific digital channels, which means I have to prove ROI on every single dollar I spend.
That’s where Kissmetrics comes in.
WHY WE DON’T RELY ON GOOGLE ANALYTICS
Since we have so many ad campaigns on AdWords, Facebook, Twitter, and other digital media, I need to keep track of every campaign and the amount of conversions and revenue we’re getting from each channel.
It’s important for us to know how long it takes for someone to make a purchase, how many ads on average they see before making a purchase, and how many products they’re viewing. Google Analytics offers this at a high level but Kissmetrics provides a more in depth analysis to really get more granular with individual users. This approach helps us conduct a better behavioral analysis of our customers in order to implement better processes and make better decisions.
Using the Power Report, I track first attribution for each month to find out where conversions come in through source, medium, and campaign. When we look at Power Reports, we’re able to determine the CPA (cost per acquisition) and we can allocate funds towards wherever there’s a lower CPA. Then, I provide a weekly report to the CEO and CMO so they know how we’re performing and for budget approval. Kissmetrics also provides cross device tracking which gives insight on how our digital advertising spend works across multiple devices through the sales cycle. It’s not perfect but it is a step closer in the right direction compared to Google Analytics.
Having an unbiased platform to report different attribution models is imperative because you have to see how sales are coming in from multiple viewpoints.
TRACKING THE FUNNEL FOR EVERY CAMPAIGN SAVED US THOUSANDS
Once, we tried promoting a blog post on Facebook and tracked how people were moving through the funnel from this campaign. There was a huge amount of people landing on the blog from Facebook, but only a small percentage of those people ended up viewing a product page.
So I stopped the campaign immediately and saved the rest of my budget.
If I were only counting on Facebook’s analytics, I would’ve thought this campaign was a success–it had a lot of clicks. But because I could see down the funnel that a majority of the people were dropping off, I knew I could end the campaign.
SUPPORT AND ONBOARDING ACCELERATED GROWTH
Every person I’ve worked with at Kissmetrics has been stellar. They’ve walked me through each report and helped me understand what I need to know on a daily basis. Now I know how to make better decisions based on our data. Within six months I have gone from beginner to intermediate simply by having a conversation once every two to three weeks for an hour or so. They have been extremely helpful!