Importance of Conversion Tracking

Why is conversion tracking so important? ... If you don't know the answer to this extremely important question please review 'Importance of Conversion Tracking' so that you can untap the hidden gems within your marketing and start improving your bottom line!

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1. CONVERSION TRACKING The Importance of … BZ9.com :: Marketing Solutions Since 2003
2. INTRODUCTION In this presentation we are going to discuss the importance of conversion tracking, covering points such as: • What is a Conversion? • What is Conversion Tracking? • Why is Conversion Tracking Important? • Where Do You Use Conversion Tracking? • Understanding Conversion Rates! • Conversion Tactics • Conversion Tracking = IMPROVED PRODUCTIVITY BZ9.com :: Marketing Solutions Since 2003
3. WHAT IS A CONVERSION? If you are a sporting person then you may be more familiar with the term ‘conversion’ being used when a goal is scored within Rugby or a touch down is scored within football in the US. So a conversion is the ultimate aim of these two sporting activities. And within the context of marketing a conversion is the ultimate aim of what you want to achieve for your marketing efforts. BZ9.com :: Marketing Solutions Since 2003
4. EXAMPLES OF A CONVERSION Here are some examples of a conversion in terms of marketing … • A sale • An optin • A lead • An enquiry • A completed questionnaire • A phone call • A Facebook ‘like’ • A Google Plus One What ever your ultimate aim, this will be your conversion … BZ9.com :: Marketing Solutions Since 2003
5. WHAT IS CONVERSION TRACKING? If you are unfamiliar with the term’ conversion tracking’ allow me to explain … When marketing online (or offline) conversion tracking is the means by which we know where the conversion came from and what triggered the conversion. Conversion tracking will allow us to PRECISELY know where the lead, optin, enquiry or sale came from. BZ9.com :: Marketing Solutions Since 2003
6. WHY IS CONVERSION TRACKING IMPORTANT? BZ9.com :: Marketing Solutions Since 2003 Conversion tracking is important because marketing online will invariably involve multiple marketing activities and promotions so unless you know where the conversion has come from ... you won’t know what part of your marketing is working and what parts are not working. Conversion tracking allows you to identify where the conversions are coming from and then focus on those marketing activities to improve the conversion rate even further. By also identifying what is NOT working conversion tracking allows you to either stop the marketing activity whichh is not working or make changes until you are happy with the conversion rate. Remember the age old saying that ‘time is money’ …. so it doesn’t matter whether your marketing has a direct cost (paid advertising) or not … each conversion has a cost whether its a monetary or time cost to you and your business. NOTE: conversion tracking is not a one off activity, it should be a constant within all of your marketing by continually tracking and improving conversion rates.
7. WHERE SHOULD YOU USE CONVERSION TRACKING? BZ9.com :: Marketing Solutions Since 2003 The simple answer is EVERYWHERE! If you fail to track one single marketing activity it could lead to a loss in productivity, sales and lead generation. If that one unproductive marketing activity is taking 30 minutes each day, this will soon add up to nearly 4 hours each week (half a working day) and more than 4 average working weeks over the course of the year!
8. WHERE SHOULD YOU USE CONVERSION TRACKING? BZ9.com :: Marketing Solutions Since 2003 For example you may be promoting a product or service via a tracking link which you then place for example on: • Your blog • Your website • Your email signature • Your newsletter • On facebook • On Twitter • On Google+ • Within downloadable documents • Google Adwords • Facebook Ads By employing conversion tracking … when a conversion takes place you will know EXACTLY where the conversion came from. Obviously there are 100′s of places you could promote your tracking link, the above are just a few examples.
9. UNDERSTANDING CONVERSION RATES BZ9.com :: Marketing Solutions Since 2003 This is critical … Your conversion rate will indicate the success or failure of any given marketing activity. EXAMPLE: Lets assume you have spent time on 3 separate marketing activities. Each will have its own conversion rate. The conversion rate is calculated by taking the number of conversions, dividing this by the number of ‘actions’ and then multiplying this by 100 to give a % (percentage conversion rate.)
10. UNDERSTANDING CONVERSION RATES … continued BZ9.com :: Marketing Solutions Since 2003 Marketing Activity #1: Conversions = sale x 8 Action = completed questionnaire x 164 Conversion rate = 4.87% Marketing Activity #2: Conversions = product download x 26 Action = newsletter optin x 475 Conversion rate = 5.47% Marketing Activity #3: Conversions = telephone enquiry x 73 Action = online product demo x 1257 Conversion rate = 5.80%
11. CONVERSION TACTICS BZ9.com :: Marketing Solutions Since 2003 Conversion tactics will vary according to the type of product or service, the way its being marketed and what your conversion aim is. As a rule of thumb always have at least 2 versions of your marketing activity, for example run 2 types of advert, try two types of call to action, then drop the one with the lowest conversion rate and replace with a new version. Then repeat this over and over again, the end result will be that your conversion rates continue to improve and increase for ever more.
12. CONVERSION TRACKING = MORE PROFIT BZ9.com :: Marketing Solutions Since 2003 If you have not yet embraced conversion tracking for your business you will be amazed at just how more profit you will extract once you leverage this simple strategy for your business. With increased productivity comes more conversions, more sales and ultimately more profit and more time to spend your profits …
13. WHERE CAN YOU FIND A RELIABLE CONVERSION TRACKING SERVICE? BZ9.com :: Marketing Solutions Since 2003 CLICK HERE
14. IMAGE RESOURCES USED WHILST CREATING THIS SLIDESHARE… BZ9.com :: Marketing Solutions Since 2003 • Question mark & van image from Icons8.com • Exclamation image from vistaico.com • Location image from danilodemarco.com • Chess image from everaldo.com • More image from ionicons.com
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