Google Analytics: How To Calculate ROI Across Channels Via The Cost Data Tool

Google Analytics: How To Calculate ROI Across Channels Via The Cost Data Tool

Back in October, Google Analytics announced the new Cost Data Import Tool. The tool allows Google Analytics users to import cost data from any digital source (e.g., paid search providers, display providers, affiliates, email, social, even organic traffic) for a return-on-investment (ROI) calculation. This provides a clearer view of media performance across all channels for more informed budgeting decisions.

Create the cost sources

The first step you need to take is create the data sources through the Google Analytics interface.  Note that to create data sources, you will need to be an admin on the account.  In the “Admin” console, you’ll now see a new tab for the web property called “Custom Definitions”.  This new tab is where you’ll be able to create new cost sources. To add a cost source, click on the “New Custom Data Source” button.  This will bring up the wizard.  Simply fill in the name, a brief description, select the profiles you want to apply this cost source to, and click “Save”. Each cost source you create is associated with one web property.  You then apply the cost data to any profiles that belongs to the web property ID.  This hierarchy is great because it means you control who sees the cost data.  if i.e. you have one agency that handles your Google ads and another that handles your Facebook ads, you probably don’t want one to see how much the other is spending.  So, you create one source for Google and another one for Facebook. Next create three profiles. once for your Google agency, one for your Facebook agency and one for you. You then apply the cost sources accordingly. Google to the Google profile, Facebook to the Facebook profile and both Google and Facebook to your profile. Done.

Importing your data

The next thing you need to do is to get the cost data from the ad platform, and then import it into GA via the API. Users can upload data via a self-serve API or using third-party applications. Four, that Google Analytics listed are; NEXT Analytics, GA Data Uploader, ShufflePoint In2GA & Analytics Canvas. With NEXT Analytics, there are quite a few dimensions you can import.  Most of the dimensions are optional, but the two required dimensions are source and medium.  Of the optional dimensions, the following are most useful for analysis:

  • Campaign
  • Keyword
  • Content

On the metrics side, you are limited to:

  • Impressions
  • Clicks
  • Cost

If you are looking to import cost data from an AdWords account into an Analytics account, you must link the AdWords and Analytics accounts. During the linking process, you have the option to identify the Analytics-account profiles in which you want the cost data to be available. If you do not identify profiles during the account-linking process, an Analytics Administrator can subsequently edit the cost data settings at any time from either the standalone Analytics account or from the Google Analytics page > Tools and Analysistab in the linked AdWords account (Administrative access to AdWords is required). Imported cost data can be viewed in one of two places, being 1) in a new report called Cost Analysis in Traffic Sources, and 2) in the newly publicly available Attribution Modeling Tool. As product manager Laura Holmes states, "These reports show you how all your digital marketing channels are performing compared to each other, so you can make better decisions about your marketing programs”.

Data upload limitations

There are some limitations when uploading data:

  • Each file uploaded cannot exceed 5 MB
  • You can perform a maximum of 20 appends per date.
  • All appends must be completed within 10 days of the first append
  • You should be uploading the daily aggregated cost data, not the intra-day data.  This really isn’t a problem since most ad platforms adjust their numbers at the end of the day and analyzing unfinalized data has minimal value.

The biggest restrictions are the first two.  It effectively limits you to 100 MB of imported data per day.  Users running large campaigns can easily exceed this limit.  You’ll need to be clever in how you upload your data to ensure you don’t hit these limits.

Creating your report

Now that the data is in GA, you’ll want to be able to see a report with this data.  Unfortunately, a built-in set of reports is the one thing missing.  Instead, you’ll need to create a custom report. Once you have created the report, you’ll be able to do some really great analysis of campaign performance with all the bells and whistles that standard GA reports provide like the comparison view and pivot tables.

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