Have you ever worked tirelessly on a marketing campaign only for it to end up not producing the results you wanted? Then, as a result, did you work even harder to make sure you succeeded the second time around but still failed? Nothing is more frustrating than spending endless hours on a project for it to flop in the end.
Instead of randomly trying a different approach time after time, consider letting conversion tracking show you where your strengths and weaknesses are. Conversion tracking allows you to determine how strong, if at all, your advertising campaigns are leading to your anticipated outcomes. Once you learn this information, you can then use it for future efforts.
What Are Conversions?
A conversion is when a member of your target audience has performed an action that has aligned with the goals of your current marketing or advertising campaigns. This can include something as easy as a click on an ad or someone making an actual purchase, opening your emails, adding something to their cart, or clicking on landing pages or links.
What is Conversion Tracking and Why is it Important?
Conversion tracking is monitoring conversions of when a consumer has taken action that moves your company closer to its objective. The numbers that are tracked show how well your company’s marketing efforts are accomplishing the outcome that you want with your target audience.
Conversion tracking puts numbers to your marketing campaigns’ results to show how many people in your target audience are communicating with your company, signing up for your emails, or purchasing your products. It is typically used in advertising and email marketing campaigns; however, it can be used in any campaign that includes clickable links that direct your target audience toward your end goal.
Conversion tracking is a crucial part of modern-day marketing. It not only helps business owners understand what their customers are doing on their site, but it is also a major tool that helps measure the ROI of their marketing efforts. Conversion tracking guarantees that advertisers and ad networks are aware of where an install or purchase came from. This helps decide the value of the source and provides an enhanced understanding of how well the campaign performed for future optimization.
There are many benefits of conversion tracking, including the following:
- Increasing your return on investment (ROI). Conversion tracking can disclose whether you are noticing a sufficient return on investment.
- Allocating your budget. Your ROI can help with how you structure your budget. For example, if you have assigned more money to email marketing than to social media advertising, your conversion tracking reveals a larger ROI on the latter. In this situation, you would want to assign more money to social media advertising, and therefore, transfer money from your email marketing budget to your social media advertising budget.
- Identifying chances to improve. If you can identify when certain campaign efforts are not converting as easily as others, you can compare these campaigns with others that have been more successful to discover potential change areas.
- Deciphering clicks from conversions. Clicks and conversions are not always the same. Actually, there are occasions where high click rates can obscure low conversion rates. Conversion tracking can help figure out the relationship between click rates and the success of your preferred conversion.
If you are tired of feeling like you are getting nowhere with your marketing campaign efforts, give conversion tracking a try. You will be amazed at how much you will learn about how your customers engage with your business and how your business can improve. Contact Intergetik Marketing Solutions today if you would like to learn more about conversion tracking or need help setting it up. We would be happy to answer all questions!