A websiteâ€™s value is measured by the volume of conversions it gets. Not by traffic, impressions, or any other single metric.
Best of all, once you start measuring conversions, you will naturally figure out ways to get more. You choose what should be counted as conversion â€“ whether it is a phone call, appointment, or something else. It completely depends on your business goals.
Where do Conversions Come From?
A conversion is a measurable activity that has tangible value to your business. Phone calls, quote requests, and e-commerce sales can all be traceable conversions. Conversion tracking results in better reporting. Better reporting leads to better decision making.
Conversion tracking also opens up more effective machine learning tools. Machine learning is not as complicated as many think. When your website records a conversion, the traffic source of that conversion gets scored favourably. Over time, as the machine gets more data to compare, it learns where the best conversions come from. This is a very practical bidding strategy for online ads.
Some conversions can be precisely measured while others are more subjective. For example, an e-commerce sale has an exact dollar amount yet a phone call doesnâ€™t.
You canâ€™t automate everything! Having a smart guide quarterback your digital marketing is valuable. A good digital marketer will work closely with you to evaluate conversions. For example, 100 dollars spent on 1000 dollars of e-commerce sales is an easy measurement. However, 100 dollars spent on 10 phone calls is not. Whatâ€™s a phone call worth? Working with you to fine-tune these values, a really good digital marketer will leverage your expertise in addition to machine learning to achieve a strong competitive position.
Our goal is to fine-tune these metrics to keep them as accurate as possible. First, we only set conversions for activities that truly have a business result. We donâ€™t want to skew the data to make things look better than they truly are. Second, we work with you to make sure the right value is assigned for each conversion so the machine learning has all the information it needs to optimize your bidding strategies.
Are there leaks in your conversion funnel?
Would you know if your visitors intend to convert and then hit a roadblock and leave? This happens all the time. Web forms break or send email messages to spam folders, phone numbers are typed incorrectly, and many other human errors cause problems in the conversion funnel. Good reporting ensures you become aware of these problems sooner so you can deal with them faster.
Are you convincing?
One of the easiest ways to determine if you are actually doing a good job of convincing visitors to convert is to look at click-through rates and bounce rates. Each industry segment and audience has different â€œnormsâ€ but you can compare current information against historical data to interpret trends and determine how convincing you are. When that information is too general or there are limited data points to work with, we can employ techniques such as A/B testing and more methodical approaches to conversion optimization.