In other opportunities, we have already talked about how to evaluate and even increase the Return on Investment (ROI) to know if you have to invest more or less in an action or in any channel.
Now, we want to go deeper into the question of how to track the ROI of the campaigns you manage.
Here at Tribeca, we realized the need to create a general dashboard, both to track all our clients’ accounts, as well as ours. Thus, we have a broad vision for decision making.
We will share two ways of searching, analyzing, and monitoring data: one using spreadsheets and the other with the help of a tool. Understand more below!
How to track ROI? 1st phase – Spreadsheets
Before creating this general dashboard, with all customers, you need to know what kind of individual tracking you need to do. Here, we usually analyze some daily, weekly, and monthly metrics of our customers, organized in spreadsheets.
Daily tracking spreadsheet
With a daily follow-up spreadsheet, you can see if the campaign of a certain client is within the budget of the day if it is within the daily goal and still manage to aggregate the media channels in one place.
Weekly monitoring worksheet
In addition to the daily view, it is important to have an overview of the week as a whole. Thus, it is possible to know which days performed better or worse and also to identify any atypical event in the period, which can increase or decrease your ROI.
With this information, you can calculate the average of your week.
Monthly monitoring worksheet
Finally, it is also essential to monitor your online campaigns on a monthly basis. It is important to be clear about the month as a whole, what the total investment was, if you stayed within the budget, if you had the ROI, if the quantity and cost of the leads stayed within the plan and how much revenue was generated by channel (in the case of e-commerce).
2nd Phase to track ROI – Integrating information
With this integration, you can have a consolidated view on the situation of all customers, while having an individual view of each one.
From this organization, in addition to being able to know more objectively which customers are within the goals or not, you can also analyze which strategies are working and how to replicate them for those who need improvement.
Supermetrics – What is it, what is it for and how does it work?
When we need to analyze an ad campaign, we have to collect the data to make the best decision later, right? However, this process can take a long time, since it is necessary to extract a lot of information from different channels to later study them and outline strategies on what to do with this data.
You can think about outsourcing this activity, but it would still take a while. It was then that a support tool for these cases emerged: Supermetrics. With it, it is possible to gather all this data from Facebook and Google Analytics, for example, in one place.
Through this tool, you can have in a Google spreadsheet or in Data Studio, all the necessary information to analyze and organize in the best possible way.
A great benefit is that, in addition to having everything in one place, expanding your vision more effectively, it also allows you to manage the time in which it will update the data. For example, you can indicate whether it will be updated weekly, daily, or hourly.
Another highlight of Supermetrics is that it works with a wide variety of data sources, that is, if you are a professional who works with more advanced analysis, it will be very useful.
An example of this is that it supports Criteo, which is a great marketing tool, and automatically brings you the information needed for your analysis, study, and organization.
How to use Supermetrics
As mentioned above, the software provides quick updates that can be accessed intuitively and in a few clicks. In addition, it also favors the creation of reports in a personalized way, ensuring that marketers and entrepreneurs create their reports according to their needs. Basically the tool connects via the Google API, Facebook, and the like and integrates the data selected by the user from these platforms and which they allow capturing.
Hire Supermetrics and register with the same email that you have access to Google Analytics, Facebook, DataStudio and other tools to facilitate integrations.
After you integrate your channels, the API (Application Programming Interface) will start to work and the software will do all the work of joining the data you need!
Now that you know how to track ROI, how about putting these suggestions into practice, and sharing your impressions with us? Leave your comment, ask questions, and tell us about your experience!