How can brand marketers determine what really happens after users click an ad? How do they know if a prospect does what was hoped for? This enlightenment is readily available thanks to a digital tool called ‘conversion tracking’. Much is revealed by this modern convenience. Such as
Conversion tracking monitors and reports every product purchase. Nice. Just what brand marketers and business owners cherish, particularly if their sales figures reach the moon. But wait, there’s more.
Conversion tracking also provides major updates about many other user actions. Common ones are: signing up for a newsletter or white paper; submitting an information form; responding with a telephone call; and downloading a must-have app. Basically, conversion tracking records any high-value user action that occurs after contact with your brand. Typically, contact is made online. But offline touches can and should be monitored as well.
Ultimately, these action-reports confirm the validity and effectiveness of a specific brand marketing campaign. If users respond in sufficient numbers, smile — your campaign is gold. If not, rethinking is in order.
Sometimes, conversion tracking is confused with attribution. They ARE NOT one and the same. Attribution assigns ROI value to each phase of the customer funnel – after a purchase has been made. It answers the question: How much revenue did each engagement generate?
Conversion tracking, in contrast, measures user actions not revenues. By monitoring these actions, the tool can reveal a campaign’s strong and weak points. For instance, if your brand is sputtering in the marketplace, you probably want an explanation. Conversion tracking brings full transparency to critical factors such as keyword effectiveness, PPC ad engagement, bounce rates, and more. All of these variables can and do impact brand performance. Depending on the metrics, brand marketers can adjust their program (s) to match results. More support for the strong points; game-changing adjustments for the flimsy ones.
If you have any questions or comments about conversion tracking for brand marketing, or about any other brand-related topic, feel free to send them our way.