In order for a business to measure Return on Investment (ROI) for a digital marketing campaign it is vital that there is a conversion point. In digital marketing terms a conversion can be linked to any number of key performance indicators. Examples would be:
- Sale on a website
- Contact form submission
- Newsletter sign up
- Video play
- Email enquiry
- Telephone enquiry
Consider the goals of your business and let them determine what conversion points are most important.
Where Can I See Conversions?
You can use Google Analytics to create goals that you can benchmark against your visitors, traffic sources and landing page.
The benefits of seeing where your conversions are coming from include:
- Tracking the physical location of a conversion e.g. Dublin or Ireland.
- Knowing what source the conversion came from e.g. organic traffic, paid advertising, social media
- Using the data to know what digital marketing areas are working
When you track conversions you can use the data to help you optimise your website. If you make changes to your website conversion page the conversion rate will give you an indication if the changes have improved the user experience on the site.
Why are Conversions Important
Most digital marketing strategies involve multi channels approaches. You could be running Facebook ads, content marketing campaigns, an email marketing campaign and AdWords campaigns all at the same time. Conversion tracking allows you to know which source of traffic is generating the most conversions. This in turns informs your ROI statistics. Measuring and optimizing your conversion rate will also lead to a better ROI over time. We discuss this in more detail in the next section.
Improving Conversion Rate
Conversion Rate Optimisation (CRO) is a key method of improving your conversion rate. CRO involves making alterations to your conversion pages to help enhance the user experience. This leads to an improvement in your conversion rate. You can use AB testing to help you choose which version of your pages performs better.
There are a number of ways to improve your landing pages depending on what type of format your page is:
- Improving the design e.g. colour variations, layout changes
- Testing variations of calls to action e.g. call now, buy, submit
- Removing fields in forms
- Changing images and videos
Here are some good examples of case studies where the conversion rate of a website has been improved by alterations and AB testing:
- Signups increased by 60% after actually removing the signup form
- Removing field in form helping to increase conversion rate
- Travel site revamps landing pages to maximize revenue
Clear conversions and conversion tracking are essential to any effective digital marketing strategy. Conversions also help businesses determine ROI through building leads, sales growth and brand recognition for their products and services. Don’t forget this vital ingredient for your next digital marketing campaign!