When it comes to the marketing team’s brand, they must have track of how much they are investing in the marketing process and what output they are getting in return. Here, a person needs to consider the manual process of how many potential clients have turned into customers.
Previously, a marketing team couldn’t calculate to the last detail and understand whether that particular television or newspaper ad had worked out or not. Hence, it’s not sustainable for the company’s marketing head to rely on the output.
It provides a hindrance in calculating the unit economics of a product or service, and that distorts the profit margin of a company. Here, a business can leverage modern tools, and that will help the client understand how their marketing is working.
In this blog, we will understand the usage of Google Tag Manager and Analytics and how that can help a company understand the ROI of the marketing budget.
Understanding the Use Cases of Google Tag Manager
Google Tag Manager or GTM is a free tool of Google that allows a brand to access the code or pixels without letting those to modified. It’s a great way for the digital marketing team of the company as it helps the marketers to get relevant data and to understand how the company is performing in gettoinng new customers from those campaigns.
GTM helps to give four several things, and one is it helps in tracing conversions. Collecting all the user data, helps to generate the website analytics and also to retarget those customers who are in the second or third step of the funnel.
Understanding Google Analytics
Google Analytics, like the GTM, helps to collect the data of a website and is an essential tool to check various metrics, which are essential to track who is visiting the websit and how frequently.
Analytics are used to get PPC ads and track them; along with it, it can also track the social media pages and other sources, which shows where a brand can improve and in which areas they need to focus for the betterment of their work.
How to Measure ROI Using These Tools
Now comes the task of measuring the ROI of the marketing budget and where and when the company must spend. All these can be checked using these tools.
- Add Google Analytics to the Website
It’s the first task as it helps a company to understand how many customers are coming to the website and what the issues they are facing and fixing those areas for more organic reach.
- Set Up the Goals of Google Analytics
The next step is to set the analytics and keep a goal, and that can be achieved through the marketing budget of the company. Thus, it becomes clear to them whether the customers are coming through the ads, and that can be measured using pixels.
Here, companies like Zenith Solz and another digital marketing firm can give detailed reports to the company, and based on those metrics, they can understand how the ad is running and whether the campaign is successful or not.
