Updated: August 3, 2021
Contents
Introduction
In this Segmetrics Review, you’ll learn to see whether this software fits your needs.
If at any point you decide SegMetrics is right for you, you can a SegMetrics 14-day free trial available at this link. If you use my link, you get this free trial, and I get a commission at no extra cost to you.
Marketing and sales funnels can get very complicated these days. This is especially true if you’re working in an organization that’s spending a significant advertising budget on many different channels like Facebook, Google Ads, Taboola, Snapchat, Bing Ads, YouTube Ads, Google Display Network, Content Marketing and so on. Then on top of that you have organic traffic which can of course be influenced by paid ad spend. You also run into problems of attribution (first touch vs last touch).
If you’re spending a lot of money on Facebook Ads, then you have many adsets with many ads with many experiments (ideally) running at any given time and attribution becomes a big pain in the butt.
With the new iOS14 changes, Facebook Ads tracking and reporting will take an even bigger hit later on during Q4 of 2021. SegMetrics uses first party cookie tracking and there’s no delay in reporting (as oppose to up to 3 days delay with Facebook’s Reporting).
Effectively directing your ad spend so that you can allocate from highest ROI to lowest in real time has become harder which is why there are companies like SegMetrics and similar software companies that have tried to fill that void.
SegMetrics Integrations
Some of the integrations that Segmetrics works with:
- Facebook Ads
- Google Ads
- Bing Ads
- ClickFunnels
- SamCart
- Kajabi
- Klaviyo
- PayPal
- Zapier
- Stripe
- HubSpot
- Infusionsoft
- ActiveCampaign
- Drip
- Data Studio
After you sign up and connect your sources, you get access to all of the historical information on your marketing dashboard.
There are some integrations that SegMetrics doesn’t work with natively.
For example, it doesn’t work natively with Shopify at the moment so the best thing to do is just to use the Klaviyo integration which works fine since Klaviyo has such a close integration with Shopify. If you’re not using Klaviyo, you can also use ActiveCampaign or Zapier, for example.
Segmetrics Features
- Ad Attribution
- Customer Journey Reporting
- Multi Purchase Attribution
- Custom Dashboard
- Lead Tracking and Attribution
- Advanced Segmentation
- ROI Tracking
- Ad Analytics including RoAS
- Customer LTV
- Sales Velocity
- Affiliate Reporting
- Weekly Email Reports
Setting Up Segmetrics with Facebook Advertising
In order for Segmetrics to work effectively, you only need to add one parameter to your ads in Facebook:
Simply add ad_id={{ad.id}} to the URL Parameter at the bottom of the Facebook Ads section.
The biggest issue with Facebook Advertising is that you can get delayed attribution or worse, inaccurate attribution with a lot of advertisers reporting minor and major discrepancies between actual and FB reported results. I’ve seen the discrepancy as large as 60% in certain cases.
If you’re having an extremely profitable day or campaign during a launch for instance, it’s important to get access to accurate and timely information so you know when to scale and more importantly, which adset to scale. If you’ve got 15 adsets and you’re spending $1k a day and you can’t trust FB’s tracking, then what can you rely on?
When you have something like Segmetrics, you can use it as your compass to help you scale or descale your campaigns according to real time results. You can also use the data from Segmetrics to push data back to Facebook as well as other advertising channels generally to help Facebook understand which adsets are doing well.
SegMetrics Pricing
Pricing starts from $175 per month depending on which plan you choose.
There’s a 17% discount if you pay for annually.
Who Is SegMetrics For?
I’d say that the more money you spend on advertising, the more likely it is that you’d need to use a software like Segmetrics. If you’re spending digital advertising dollars across multiple channel, then it’s highly likely.
You need clarity about exactly which ads are producing the highest lifetime customer value and what the actual return on advertising spend is, then you need to be using some kind of advertising attribution software so that you can make intelligent decisions about where you should be spending money and not waste money on ads that you only think is profitable because of misreporting on ad platforms.
This problem will usually be magnified if most of your sales happen on the back end. For example, if you sell an eBook on the front end and then upsell courses, mastermind, coaching, done for you and so on in the back end. Since the real money maker is on the back end, that’s what you should be optimizing for.
Being able to track the full lifetime conversions of your ads will allow you to capture the activity that happens on your funnel.
Add on top of that the fact that it takes an average of 8 touch points to convert a prospect into a customer.
Relying only on your ad platform’s numbers like Facebook to make marketing decisions, where reporting is limited to 7 days, is going to be a challenge.
It doesn’t really matter whether your business is in eCommerce, SaaS, digital products — if you have this fundamental problem, then you need to get better reporting to make better decisions.
Pretty much any serious marketer that’s spending serious advertising dollars is using an advertising attribution software of some sort. 52% of all marketers are using attribution reporting in 2020 according to HubSpot.
Some of SegMetrics customers include Frank Kern, Dr. Axe, Eben Pagan, Foundr and Entrepreneur on Fire.
Segmetrics Alternatives
The main alternatives to SegMetrics are WickedReports and Hyros. There are also others like Databox and Supermetrics.
They offer very similar features but WickedReports pricing starts from $400 per month plus a set up fee of $1,000.
To get set up with WickedReports, you need to adopt their tagging and linking system and will only track stats after all of this is set up.
This is time consuming and would be more effective just to integrate natively with your advertising platforms. If you have campaigns that are already performing, this can mean that you need to reset your campaign learning.
The other alternative is Hyros which is very popular among eCommerce businesses.
Final Thoughts
If you’re spending advertising dollars on different advertising channels like Google Ads, Bing, LinkedIn Ads, and FB Ads, I would give Segmetrics a try.
It’s great value for money and they offer a risk-free 14 day trial here.
The only draw back is that it’s not the most intuitive to set up and to use.
Thankfully, they offer a concierge style service where they set up your custom dashboard for you which is all included in their plan.
Diagnosing SegMetrics Tracking
If for whatever reason, you’re not seeing SegMetrics tracking your conversions, try the following:
- Make sure the ad_id parameter is on all of your ads.
- Make sure that the SegMetrics pixel is installed on all of your pages
- Integrate your ad platform with SegMetrics