What is your Marketing ROI: Understanding Real Impact to Grow Revenue
Dvanced Customer Lifecycle Management Platform, Clevertap Launches a Powerful Reporting Dashboard to Bring Longer Term Measurability to Marketing Initiatives
CleverTap, the advanced customer engagement platform, released a measurement dashboard, called Real Impact, to help marketers measure the consolidated impact of their campaigns over a long-term. With Real Impact, they can attribute the ROI of marketing spend to key business metrics such as revenue per user, conversion, retention, stickiness, recency and frequency.
Growth and retention teams measure the impact of individual campaigns with metrics such as conversion, click-through and open rates. However, it is easy to lose sight of what is working over a period of a quarter, six months or even a year. This comes in the way of identifying what is actually working and finding ways to improve the metrics that truly matter to a business.
The Real Impact dashboard was created to solve this problem using an attribution model that collects data at a granular level yet gives a big picture view of marketing effectiveness. Using the concept of control groups i.e. a group of users that are not exposed to any campaign, the impact of campaigns is measured on the target group or the rest of the audience over any duration of time.
With Real Impact, teams can track the impact of campaigns on the following core business metrics and KPI:
- Revenue per User (ARPU): Measure the direct ROI generated by every marketing dollar spent in terms of a boost in average revenue per user (ARPU)
- Conversion and Retention: Measure the boost in core conversion metrics and retention cohorts of users who received your campaigns
- Recency and Frequency of use: Measure the improvements in both recency and frequency of use per user who received your campaigns
- Churn: Over the long term measure the improvement or drop on churn of users who’ve received campaigns vs. users who have not
With Real Impact growth teams will clearly understand the aggregate impact of all campaigns on these core business metrics. They can isolate which campaigns or promotions had a negative impact on your user base with metrics like recency, frequency and churn.
“We want to empower the marketing organizations of today with indisputable insights that they can present before their CXOs. Real Impact helps accomplish this with a powerful measurement platform so teams can directly measure the ROI generated by each dollar spent on marketing. They are able to evaluate what campaigns, messaging and creatives have a long-lasting impact on their business metrics,” said Sunil Thomas, co-founder and Chief Executive Officer at CleverTap.