How to Get Your Business Ahead of the Curve and Track ROAS the Right Way
by Jon Carder
Jun 14, 2018 9:50:30 AM / by Jon Carder
Proving return on ad spend (ROAS) in digital marketing can feel like an uphill battle. As a digital marketer or advertiser, you likely face daily pressure from higher-ups to show that your efforts are garnering returns. The widespread belief is that calculating ROAS from online advertising to in-store sales is a costly exercise to get a “best guess.” Empyr is here to defeat this myth and give you the tools to prove ROAS from digital ad spend to in-store revenue.
Tracking ecommerce sales, from clicking on an ad to the shopping cart, is easy. Calculating and proving attributions and in-store ROAS from digital marketing is a different story. Your results will vary based on the metrics you use. Tracking online to in-store can actually be a breeze with the right resources. We can take the guessing game out of digital marketing, enabling you to finish the last mile of true attribution (with the numbers to prove it). How is this possible? You’re about to find out.
Your position as the VP of Digital Marketing (or a similar job title) comes with a heavy burden in the digital age: the burden to show that your online efforts are indeed translating into offline sales. You might know your campaigns are doing their jobs, but the people you answer to want to see hard numbers. The answer to calculating ROAS lies in proper tracking and attribution. Proper tracking and attribution will put you miles ahead of the competition, get you a bigger budget, and allow you to focus on other key initiatives.
Does the old adage, “I know half of my marketing budget is working, I just don’t know which half” ring true to you? You’re not alone. Data tracking is the key to eliminating the guesswork in digital marketing. The gap between online ads and offline sales doesn’t have to be an enigma. You can track the entire path from impressions to brick-and-mortar sales with the right tools. Once you can prove the value of your campaigns, you can stake your claim on more of the budget. Your competitors are doing it – now it’s your turn.
Take a look at the companies that are your direct and indirect competition. Odds are that at least part of their success comes from proper leveraging of customer relationship management (CRM) data. Using CRM data allows you to see your customer’s buying patterns and products they like, which can help businesses tailor their advertising and services to improve customer satisfaction. Take the example of the food delivery company, Munchery. This small business used CRM solutions, including their own app, to create a better customer experience, monitor reviews, and obtain more return orders.
Some companies are leading the pack by targeting the right people – now it’s time to boost your efforts.
A glimpse at the present ways marketers trace the last mile of attribution will show you a wealth of calculations and analytics…most of which rely on guesswork. Until this point, there has been no surefire way to track the path from your digital initiatives to in-store sales. Information such as sales increases, more foot traffic, and loyalty program data could have a correlation with your online marketing efforts, but who’s really to say? Here are some of the top trends in tracking ROAS, and the complications of each:
Empyr’s system enables you to track your online ads all the way to in-store sales – no conjecture needed thanks to card-linked offers. The guessing game might be the industry standard, but that doesn’t mean you have to play along. You can take your company to the next level by knowing your true incremental lift. Empyr gives you a sophisticated tracking model that will help you change the game. It is truly a tracking superhero: the ultimate cure to your ROAS pains.
Empyr’s credit-card linked model allows for seamless, guess-free attribution tracking. You can collect and analyze data that shows a clear connection between your online advertisements and retail store sales – no speculation or assumptions needed. Empyr is here to help you, and we believe our model can make your life easier. Here’s how it works:
It’s easy to see how Empyr’s platform and CPR™ model not only break the mold in terms of comparable programs but also enables you to conquer ROAS without a shadow of a doubt that the numbers actually reflect your campaign’s success. With almost no work on your part and no money wasted on ads that don’t convert to in-store sales, Empyr can solve your ROAS problem once and for all.
Traditional ROAS calculations can be helpful, but new methods can be more accurate, helping your business even more. With Empyr, you no longer have to fund your media campaign, fund additional data collection sources, or use expensive software only to gain an educated guess of ROAS, at best. We can cut out unnecessary man hours, effort, and expenses, and save you time and money while garnering better data to inform your campaigns. Proper tracking and attribution gives you extra capital and enables you to know exactly where you’re spending your time and money. This enables you to:
You’ll know what’s working and what’s not in real time. You can focus your efforts on what is actually working instead of wasting resources on doomed or zero-return efforts. Take the guesswork out of online marketing, keep your stores open despite the rise of ecommerce, and generate revenue for years to come. It all starts with the ability to prove the value of your efforts with real, hard numbers – data your analytics team can really sink their teeth into.
Empyr is at the forefront of a trillion-dollar industry: the Online to Offline (O2O) Commerce industry. It is the answer to real, trackable data from the moment your customer sees an online ad to the time that ad translates into an in-store sale. Using Empyr’s card-linked services can mean gaining an edge over your competition, saving big bucks on online ads, and finally having the hard numbers to prove ROAS to your company. Join Empyr today and fulfill virtually all of your ROAS, tracking, and attribution needs.
Are you ready to see how your current ROAS stacks up to the CPR model? Download this free calculator. It’s an easy tool to help you calculate your current return on online ad spend, and discover the gaps you didn’t know you had. Get it here »
Posted in: Insider