28 Feb Are You SERIOUS? Why Would I Invest $150,000 in Google Analytics 360?
I know, I know, why would anyone in their right mind drop this much money for their data? All of this cash could go towards more ad spend, a new back end developer, or a G Wagon company car. Why do our clients choose to forgo aforementioned investments and instead invest $150,000 US dollars to upgrade their Google Analytics account?
The answer is easy: upgrading to Google Analytics 360 will provide the dollars that make investments in ad spend, employees, and even fancy company cars possible, and it can achieve that by providing a boost to your ROI (return on investment) and helping you increase ROAS (return on ad spend).
When implemented and deployed correctly, Google Analytics 360 is much more than just an investment in your data — it’s a money-making machine.
Increase Ad Spend in Performing Channels
With Data Driven Attribution in GA360, Google’s magic algorithms are making kazillions of insights per second to figure out which channel is truly making your customers convert. With full integration across all online (and offline!) marketing data, you’re able to see a full picture of how your marketing dollars are working cohesively for you.
Here’s a multiple-choice question for you: If Data Driven Attribution is showing 10 percent more high value conversions from email marketing, where are you going to allocate your next $10,000 in ad spend?
- Email Marketing
- Company G Wagon
If you chose email, then you may see a huge boost in sales thanks to insights gained from GA360.
Increase Audience Accuracy & Full Customer Journey Attribution
If you’re running a big eCommerce operation and driving insights with sampled data, you’re living on the edge. Google Analytics (Free) is free for a reason: reach (and their ability to resell the data they get from that reach.) Google Analytics (Free) is used on 85 percent of all websites; yes, that includes your bestie’s blog! Think of how much audience data they get with that kind of access to the Internet at large. In turn, they offer that data to their GA360 clients.
This access to Google’s extensive audience data allows Google Analytics 360 and DoubleClick customers to activate media against unparalleled 2nd party targeting, which drives investments by reducing ad spend wasted on often inaccurate or out of date 3rd party audiences. Simply put, more accurate audience data leads to stronger targeting, which leads to higher conversions.
GA360 includes native integration with Google BigQuery and CloudML (Machine Learning). I can hear you thinking… “Who cares, those are buzzwords!” Wrong! BigQuery allows us to tie in unique user ID info from any CRM or Data Lake for analysis in GA360. It’s an awesome workaround that allows for integration of peripheral user and performance data, and provides deeper insight into customer touchpoints for everything from customized attribution modeling to predictive customer lifetime value analysis.
Want to understand how likely a user is to convert, based on the way they’ve engaged with your site or media assets, and use this information to adjust media strategy against high-potential customers? Machine Learning in Google Cloud can help you do just that, ultimately increasing media efficiency and maximizing your ROI.
Cut Waste on Ad Spend
Google Analytics 360 (GA360) includes native integrations with AdWords and DoubleClick, and has the ability to track all of your Social, Email, and Offline campaign performance as well. Let’s choose display as an example. A company investing $30,000 per month on YouTube and leveraging Google Analytics (Free) for measurement would not be able to attribute driven revenue back to a leading impression.
Without that ability, your brand may instead see an increase in Organic or Direct Traffic after launching a new YouTube campaign, but is that traffic actually coming from YouTube or is it a coincidence? Without the proper measurement infrastructure, it’s anyone’s guess.
And look at the flip side: if even 30% of media-driven traffic that was incorrectly bucketed as Organic or Direct was properly attributed with GA360, that would mean GA360 could help you understand the driving factor behind $162,000 in incremental revenue per year (assuming a ROAS of 1.5). Without this insight, you risk allocating budget away from a well performing channel, and risk losing that revenue.
By the way, that $162,000 pays for your GA360.