19 May MV How To: Conversion Tracking
Every marketing vehicle has its own set of metrics that can be reported at the conclusion of a campaign. However, conversion tracking is the trickiest metric of them all. Tracking conversions involves a number of unique factors that will determine if and how an action can be tracked.
When implemented correctly, conversion tracking can provide valuable campaign insights. During initial campaign set-up, it is important to have full access to the backend of a website and a complete understanding of the intended KPI for the best conversion tracking results.
Conversion Tracking and KPIs
When we start putting an advertising strategy together, we will ask for your key performance indicator (KPI). A KPI is a quantifiable metric that reflects whether a business is achieving its stated goals and objectives (source). The KPI will help us determine which marketing vehicle to utilize and what type of conversions are available for tracking. They can include site form fills, physical store visits, calls, clicks, and site traffic.
While understanding KPIs and conversion tracking is extremely important, it is also pertinent to understand that not all conversions are qualified. Why is qualified important? Qualified conversions can be defined differently based on the type of campaign that is being executed. For example, a geo-fence campaign has the ability to track physical store conversions while SEM campaigns are better for tracking online store conversions.
Another often tracked metric is a view-through conversion. This kind of conversion occurs after an ad is served and that consumer comes back at a later date and takes action. While the action is not immediate, the conversion is still a quality conversion. Some campaign types can capture IP addresses of the consumers being served the ads, which makes it possible to track view-throughs.
What are Pixels?
Conversion tracking depends on a pixel correctly placed on the advertiser’s site. However, not everyone is familiar with how the back end of a website operates, making it difficult for many businesses to properly track their conversions. It can be difficult to put a piece of code on the global head tag of the designated landing page. If you have credentials to your site, our team can take care of this step for you – removing the intimidating technical issues from proper campaign conversion tracking.
When It’s Not a Good Fit
Being able to track conversions from a paid campaign is great, but unfortunately there are situations when conversion tracking is not possible. Our team will work to find other options available to make sure you are receiving the data you request. Depending on the industry category, targeted market or campaign budget, there are other ways to measure success of a campaign.
Start Your Conversion Tracking
Let’s chat about your marketing initiatives as we start to plan for Q3! From there, we can determine what kind of conversion tracking makes sense for your campaign. We look forward to hearing from you and building a strategy in efforts to reach your business goals. Enhance your marketing investment with Media Venue!
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About Our Blogger
Hannah Moore brings a plethora of digital marketing knowledge to the Media Venue team. Her experience with a variety of digital campaign types and platforms fosters a deep understanding of modern marketing methods and makes her an authority in the digital sphere. She uses complex targeting technology to assist her clients in reaching their key audience.