How does conversion tracking help measure campaign success?
The amount we spend on digital marketing is growing at a steady pace. Marketers are under pressure to justify expenditure with results. Customer segments are becoming fragmented, which means you need to determine how much money you want to spend on each platform. Conversion tracking helps marketing teams achieve this effectively.
Conversion tracking measures your digital marketing efforts. It tells you what happens after a users sees and clicks on your adverts. Did they visit your website? Did they complete an online contact form or make a purchase? Did they convert into a paying customer? Maybe they made a repeat purchase.
With conversion tracking you are able to monitor all of this and more. It helps you assess whether your adverts are effective and are meeting your business marketing goals. Most businesses focus on immediate revenue, overlooking signals that can help them maximise their marketing campaigns by focusing on different stages of the funnel. When you understand the complete picture you are able to understand the impact of your advertising campaigns, improving your return on advertising investment.
With a good understanding of user behaviour on various platforms, you can plan and execute your marketing campaigns effective. Customers use social media and search engines to find products and services they need. When you understand your customers, you help them find your brand online.
Each platform serves a different purpose. Conversion tracking helps you place the right information in front of the right people on the right platforms.
Not all visitors are the same, some are ready to make a purchase right there and then, while others are not quite ready to make a purchase now. Studies have shows that half of customers that are targeted are not ready to make a decision when they first see your advert. This is where retargeting comes into play, playing a vital role in the consumer journey.
By implementing on-site and off site retargeting strategies you can reach your audience that has engaged with your brand in the past. This involves presenting offers to users that are on the verge of leading your website, helping to retain them. This simple step can boost conversions by four percent.
There are a number of metrics you will want to be tracking as part of your conversion tracking process:
This is used to measure how effective your marketing materials are. It is how long your users spends on your website in each session. It provides you with information on the effectiveness of your content and how it engages the visitor. If you see a reduction in your session duration over a period of time, it could be a result of not publishing content frequently or posting poor quality content.
The bounce rate is the number of people that visit your website, leaving immediately. This is due to the visitor not clicking on any other links or visiting a second page of your website. This can be a result of slow loading website pages or difficult navigation, it also tells you how effective your campaign is. Remember bounce rates are metrics used by search engines when determining your ranking. You want to avoid a high bounce rate at all costs.
You will want to take careful note of how many of your website pages a visitors visits. When you have high page per visit metrics, it could be an indication that the visitor cannot find the information they were looking for effectively. Every part of your website should be accessible with three clicks of the mouse. If you have low pages per visit metrics, it could be a sign your website is not engaging with your visitors.
Knowing what your conversion rate is important to determining how successful your advertising campaign is. If you divide how many conversions your advert achieved compared to the number of views, this will give you a percentage. This provides you with a clean idea on the success of your campaign.
This is the most obvious thing you want to check. It tells you how many conversions your adversing campaign achieved. This is very easy to track.
This is a very important metric you will want to check. It refers to the amount of money spend to convert one customer. The formula is the total marketing cost of the campaign divided by the number of conversions the campaign achieved. Of course, every business wants the lowest cost per acquisition.
Contact the expert team at Genie Crawl and let us assist you with your conversion tracking to help measure your marketing campaign success today.
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