As a marketing agency, the bottom line for your clients comes down to how well you’re managing their budget.
No one likes the idea of wasted ad spend, but often, it can be hard to tell which funds are actually being put to good use.
Even when a campaign is successful, it’s important to understand which tactics are more effective than others.
How do you determine which platforms are generating the most quality leads for your clients? And how do you prove it?
With the right tools at your disposal, you can remove the guesswork from your marketing strategy and analyze performance more efficiently.
The key is to find out exactly what’s working and what’s not so you know where to focus your ad spend moving forward.
After all, a simple shift in budget allocation could ultimately save you thousands of dollars.
So, how can you optimize your marketing strategy and trim the unnecessary fat in your budget?
Let’s explore the top tools and tactics you can use to reduce your cost per lead and boost ROI this year.
Tip 1: Get A Strong Understanding Of Your True, Granular ROI
One of the biggest problems agency marketers face is limited insights, which can greatly impact decision-making.
Without the full picture of your marketing performance, it can be difficult to identify your top-performing – as well as underperforming – channels.
This was the challenge for shared workspace management and consulting firm Workspace Strategies.
However, with the right tracking and recording tools, they were able to gain valuable performance insights and pivot their strategy to eliminate wasted ad spend – ultimately saving them $1,000 per month!
So how’d they pull this off? Let’s dig deeper into how the firm was able to prove the true ROI for its campaigns.
The Downside Of Using Multi-Channel Advertising
The bigger a brand’s digital footprint, the more successful it’ll be, right? – Well, not necessarily.
Although it’s important to expand your online presence, there is such a thing as overdoing it.
It’s one thing to market on multiple online platforms, but how can you tell whether they actually bring value to your business?
Workspace Strategies was utilizing Google Ads, as well as various social media platforms to maintain the occupancy rates at their managed workspaces.
Jason, the firm’s Director of Operations, suspected that some of these channels were generating more leads than others.
However, he struggled to prove which marketing channels truly drive results.
Tracking & Optimizing For Maximum Campaign Success
The solution for Workspace Strategies, in this case, was simple: They were able to track and optimize their campaigns more effectively with Call Tracking by CallRail.
With this advanced tool, the firm was able to attribute every one of their leads to a specific channel, which helped them remove marketing spend from ineffective social platforms.
“When you’re making decisions about how to allocate your marketing budget, proof of ROI is everything. We got proof with CallRail.”
– Jason Tiemeier, Director of Operations at Workspace Strategies
Read the full case study to learn more about Workspace Strategies’ success.
How To Uncover Your Highest ROI Channel
With 360° data, you can:
- See which sources and keywords are generating high-quality leads.
- Pinpoint which paid ad campaigns are driving the most calls for your business.
- Improve customer service using Call Recording to identify opportunities for staff training and coaching.
- Speed up sales and drive ROI more efficiently.
If you’re ready to prove – and improve – the value of your marketing tactics, it’s time to add CallRail’s Call Tracking to your marketing tech stack.
Tip 2: Expand Your Datasets Outside Of Google Analytics 4
If you’re a business with multiple locations, tools like Google Analytics 4 may only provide you with a partial picture of your marketing ROI.
But what if you need to track the source of leads who contact your business by phone?
As businesses increasingly rely on phone calls as a valuable touchpoint for customer interactions, diversifying your datasets is even more important.
The Limitations Of GA4
While Google Analytics 4 certainly has its benefits, it also has its share of limitations.
Some of the most notable challenges include:
- Complex data migration.
- A new reporting interface.
- Fewer attribution models.
- Limited data collection.
For Workspace Strategies, the limited data Google Analytics provided made things particularly difficult, as it painted an incomplete picture of user interactions and behavior.
However, with Call Recording by CallRail they were able to collect valuable customer insights and close more sales.
How To Improve Customer Interactions With Call Monitoring
Sometimes, the problem with businesses simply lies in how they’re interacting with their customers – anything from excessively long phone calls to weak sales pitches could end up costing them conversions.
For instance, when Jason of Workspace Strategies started monitoring recorded phone conversations with incoming leads in CallRail, he uncovered some missteps made by staff members while trying to close sales.
As a result, the firm was able to quickly incorporate these findings into staff coaching and training.
Find out more about how Workspace Strategies identified and corrected their client-customer communication gaps.
Tip 3: Boost Campaign Results With AI-Enhanced Call Data Analysis
Often, businesses that receive a high volume of inbound phone calls through their marketing campaigns struggle to qualify those leads efficiently and accurately.
However, trying to outsource this task can be expensive and drive up the overall cost per lead.
For example, digital marketing agency Wit Digital dealt with inaccurate and expensive lead qualification, with their cost per lead sitting well above the industry average.
To resolve this, they powered up Call Tracking with CallRail’s Conversation Intelligence software.
As a result, Wit Digital is now saving up to $4,000 per month with a 64% lower cost per lead.
Learn more about how the agency benefited from CallRail in the full case study.
How To Use AI To Unlock The Data Within Your Calls
Conversation Intelligence uses AI technology to analyze your calls and turn your conversations into easy-to-act-on insights.
This advanced technology can:
- Automatically record and transcribe all of your phone calls with near human-level accuracy, so you can easily refine keyword lists for agency clients.
- Easily spot keywords and phrases in every call for automated insights and analytics.
- Define rules to classify calls automatically when specific conversation criteria are met.
“With Conversation Intelligence, I have new insights into what’s working in our campaigns and what’s not. Sometimes even a simple word change can make all the difference.”
– Ryan Cook, Director of Client Strategy at Wit Digital
Automate Your Analysis & Achieve Higher Accuracy
With Conversation Intelligence, you get more accurate:
- Keyword spotting.
- Auto-tagging and lead qualification.
- Sentiment analysis.
Plus, you can automatically filter and categorize your phone calls – for instance, if a call from a first-time caller lasts more than 60 seconds, you’ll know it’s very likely a qualified lead and can have it automatically categorized as such.
By removing the need to manually listen to calls and categorize them, Wit Digital was able to stop overpaying vendors to analyze their call data.
Wit Digital is now getting a better return on its own marketing efforts and retaining more customers as they too get better ROI on their pay-per-click campaigns.
And now, CallRail’s new multi-language transcriptions can even help agencies overcome language barriers between clients and their customers, regardless of their native tongue.
Ready to automate your data analysis and boost your campaign results? Try CallRail’s Conversation Intelligence free for 14 days.
Tip 4: Consolidate Your Marketing Data & Streamline Your Process
Sometimes, the hassle of navigating between multiple platforms can be overwhelming.
And as a marketing agency, having easy access to your most critical data points is essential for making informed decisions and optimizing your strategies effectively.
But what if you could have a comprehensive snapshot of your marketing ROI seamlessly presented in a single, centralized platform?
With CallRail’s integrations, agencies can easily pull together analytics and reports from Google Analytics and Google My Business, while saving valuable time.
Start streamlining your process now with CallRail’s free trial.
Get The Most Out Of Your Marketing Budget With CallRail Today
As agencies strive to eliminate wasted ad spend and maximize their clients’ ROI in 2024, CallRail‘s advanced tool selection offers a game-changing solution.
By leveraging Call Tracking and Conversation Intelligence, agencies can refine strategies, enhance client retention, and achieve a better return on marketing efforts.
Follow Workspace Strategies’ and Wit Digital’s paths to success by integrating CallRail into your marketing strategy today.
The opinions expressed in this article are the sponsor's own.