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2011/09/13

Online Advertising and NetSuite - NetSuite Webstores Part 5


The internet has become an ever expanding resource for personal and business use. With its far-reaching consumer base, the internet's continual growth has provided advertisers access to previously inaccessible consumers via online advertising. In its most common use, online advertising is typically comprised of a variety of banner, email, and keyword advertising methods.

One of the most useful features in NetSuite is the built-in ability to track and report critical data from your online advertising campaigns. The NetSuite application includes:
  • Search engine campaign creation wizard
  • Keyword campaign management capabilities
  • Several pre-built reports to manage both Google AdWords and/or Yahoo Sponsored Search purchases

Through lead tracking you can obtain useful information about your company's online advertisements, such as which advertisement content generates the most click-thrus, where leads come from, and more critically, where the most purchasers originate. NetSuite allows you to track advertisements in real time, allowing you to adjust, cancel or increase the budget of an advertisement based upon its performance, which enables you to maximize your return on investment through online advertising campaigns.

Getting Started

Create Marketing Categories

Setup -> Sales & Marketing Automation -> Campaign Categories.

NetSuite comes with preinstalled categories, we suggest expounding on these.

Example: parent category = Online, children = Social Media, Google Adwords, Press Releases, Banner Ad, etc.

Create Marketing Campaigns

Example: you wish to track your Sept 2011 press release, create a campaign and assign the category "online, press releases" or you wish to track a Google Adwords Campaign related to widgets, create a campaign and assign the category "online, google adwords"

Create Your URLs

Using the campaign IDs, add the lead source to the end of each advertisements URL in your Google Adwords account (note: the number at the end of the URL must correspond with the campaign ID in NetSuite or it will not track properly).

http://www.yourwebsite.com/productpage?leadsource=XX

**append your URL with ?leadsource=campaign id

Add Custom URLs

Use the custom URLs in your online advertising. For example, if you are posting a press release online include the custom URL as a hyperlink, or use your custom Google Adwords URL in your ad.

Start Tracking and Analyzing

NetSuite will begin to capture information from the custom URLs. For example if someone clicks on your Google Ad with the custom URL:

"http://www.yourwebsite.com/widget?leadsource=27" and fills out an online form or makes a purchase, NetSuite will create a lead/customer record. This data will then appear in various reports.

Noteworthy reports:
  • Lead Source Analysis
  • Campaign Response
  • Campaign ROI
  • Sales By Lead Source

Once these lead sources are added, NetSuite will begin tracking the results of your online advertising campaigns. If tracking is properly enabled then the following data should be returned: unique visitors, leads generated,cost per lead, number of purchasers, cost per purchaser, profit, return on investment and total revenue.

From this data you can then compare and contrast the campaigns to see which has the highest ROI, and is thus the most effective online advertisement for your company/product/brand.

The NetSuite module is a tool that will help companies to establish a clear picture of what keyword marketing dollars produce at each sales stage, allowing them to make more informed decisions about their marketing efforts. That will include tracking leads generated from keywords, through conversion, to revenue, profits, and ROI.

Like this post? Check out the other parts of the Netsuite Webstore blog series:

1 comment:

  1. This makes sense for a B2C situation where a single ad can result in a single sale. But does it work for a multi-touch B2B situation? If so, how do you allocate revenue among the first touch, middle touches, and last touch? How do you assign which touches for which contacts should go with which closed opportunities for revenue allocation? I sense another blog post opportunity here! :)

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