07 Jan Improve Your ROAS In One Day With Enterprise Analytics Platform Google Analytics 360
Improving return on ad spend is one of the most important goals for a marketing team, and investing in an enterprise data analytics tool is a vital first step towards that goal. While there are a variety of advanced analytics solutions on the market, only one tool allows for the greatest ROAS (return on ad spend): the premium version of Google Analytics called Google Analytics 360.
Google Analytics 360 is the go-to enterprise analytics platform for website and app owners. It allows you to capture a wealth of insights from your traffic, target audience, other owned media, and paid media.
There are many ways top marketers use this powerful enterprise data analytics tool, but in this blog post, we’ll focus specifically on creating lists and segments to drive the desired action from your target audience, which improves your ROAS.
What is the desired action? The desired action is an action you want your site visitors or app users to perform when they interact with your website or app. Some examples include users signing up for a policy on your website, choosing your product at checkout, or downloading your app.
And the fundamental way to increase volume, no matter what the action is, is to reach the highest amount of the most qualified prospects. Therefore, you also need to prioritize time and media spend on users who are most likely to convert. And you can do it all with enterprise data analytics tool Google Analytics 360, keeping these tips in mind:
– Don’t waste resources on users who bounce from your site. A bounce means the user did not land on your website or landing page and did not take the desired action. With advanced analytics solution Google Analytics 360, you can create a list of bounced users, called a “flake list,” and your media buying platform won’t target those users.
– Understand your high-value consumer. What content do they like? What are their unique interests and behaviors? Within enterprise analytics platform Google Analytics 360, you can generate an Audience Insight report using your product purchase page or desired action landing page as the baseline. Then, use the top three data trends to inform your contextual ad adjacency, data targeting, and remarketing.
– Create a list of action “VIPs”. These are active users that have a high likelihood of converting, because they have navigated several pages across your website, and demonstrated an intent to learn more about your brand. You can identify and target these users by creating different segments in Google Analytics 360, including actions such as visiting a homepage, reviews page, or shopping cart page. Once you create your segments and lists, you can share them with your buying platform to target only those users, or users who possess a very similar profile.
– Keep users that spend time on your website engaged. For example, a user that has spent longer than five minutes browsing through your website content has a stronger chance of converting. Additionally, their baseline consideration is higher than someone who only had exposure to an ad. Using advanced analytics solution Google Analytics 360, you can create a list that targets users that have spent a specific amount of time on your site.
– Avoid spending on current and new customers. You’ve already converted this group of people, so it’s time to focus on getting more revenue and reaching out to users that have demonstrated intent to convert.
If you follow these tips when using enterprise analytics platform Google Analytics 360, you can see results, including an increase in ROAS- within just one day. You can start to see positive changes within the two hours it takes to create lists and segments from our tips in this blog! Communicating the trends or porting the user lists to your media buying platform takes just a few hours as well.
Using data to validate and target a hyper-qualified audience ensures you can double down on performance and results. So now that you’ve learned how to increase your ROAS in less than one day, what will you tackle next?