A conversion can be defined as someone completing a certain action that is desired on your website. In other words, a conversion is someone who replies to your call to action, whatever that may be. This might be a purchase, form submission, downloading a brochure or a phone call.
Let’s begin with how tracking conversions can benefit your business…
Tracking conversions will help you identify your ROI, and in the end help you to increase sales. Tracking your ROI for paid advertisements will be difficult without conversion tracking. It allows you to monitor and track where customers to your website are coming from. This allows you to work out how much you are paying per lead, depending on the marketing channel, for example an AdWords campaign.
Tracking trends in your conversions can help you understand your market and when or where your customers make conversions. This can aid in the planning of budgets, marketing channels and a plan to increase your ROI and sales. It can be hard to measure the efficiency of a marketing campaign, but tracking how many people convert and where they come from allows you to measure the efficiency of each channel you use to market.
How can you effectively track conversions?
There are a range of different methods of tracking conversions, tracking all methods of conversion will give you the best overview and the most accurate data. This means call tracking, contact forms, emails, newsletters and any other call to actions that you may have.
Call tracking is a good method of tracking for websites that get most of their enquiries and conversions over the phone, for example service based websites or pages with complicated products. Static and Dynamic call tracking are available for a monthly price. Static tracking doesn’t provide any information on where the caller came from such as Facebook or organically. On the other hand, dynamic call tracking allows you to trace the users journey, how they found that number and if they call back in a few days or weeks from receiving that number. This is because dynamic call tracing produces a unique number for each visitor whereas Static tracking does not.
Newsletters, Emails and Contact Forms are very easy to track effectively and provide valuable data on how the customer found your website, what terms they may have used and what they are interested in. This in turn allows you to see patterns and links with where they came to your website from and what they are interested in. Collecting the data is usually included in most statistics packages, we use Google Analytics for our clients and track the conversions as goals and events. This allows us to compare the data against historical data and other goals.
What method should your business be using?
Identifying what method of digital marketing is working for your company is key to increasing ROI, if one channel is giving the most conversions and others hardly any, you want to focus your budget and most of your time on the converting channel. This could be Google Adwords, Social Media or even Organic traffic.
Ultimately, you should be able to confidently answer the following questions:
- How many leads does each of your marketing methods send you per month?
- Are those marketing methods sending through high quality conversions? (high value sales, or high quality sales etc)
- How much is your Cost Per Conversion for each marketing method?
- Which is your most successful marketing method for conversions?
With conversion tracking you’ll have the answers to these questions and you can solve problem areas or channel your budget into your most successful areas of marketing – acting on concrete data and making real changes that are sure to have a big impact on your ROI.