One of the most important of these factors is that you can actually measure how your ads are performing. Here is a guide to optimize your ad conversion tracking.
The basic concept being the same, online marketing is in quite a few ways different from traditional marketing. The digital marketing platform is your way of knowing which of your tactics are working and which ones you need to work on to get the desired results.
Did you know that 50% of the people who click on ads are usually more likely to make a purchase compared to organic links? In fact, researchers have shown that people sometimes prefer paid ads in terms of the convenience of finding their desired product. Stats show that as much as 75% of people find paid ads to be more useful in getting what they are looking for. Moreover, search ads can also augment brand awareness by a whopping 80%.
The stats say it all. But in order to find out exactly how useful these Google Ads are proving to be for you, there are some basic concepts that need to be understood if you want to make an informed and correct decision. You will also need an appropriate tracking tool that will be not only efficient but also compatible with the platform that you use. In this article, we will go over the following topics:
- What Really are Conversions and Conversion rates?
- The Introduction to Conversion Tracking
- How Would You Optimize Your Optimize Your Campaigns With Conversion Tracking?
What Really are Conversions and Conversion Rates?
To be precise, a conversion can be defined as any action by users that you would want to measure. Starting from newsletter sign-ups and completing a purchase to even filling out a web form, it can refer to any action that the user might take after being exposed to your ad.
So every time a user responds to your CTA (Calls to Action), you may count it as a conversion. You have to keep in mind here that you might also be having multiple Google Ads conversions from a single CTA, while purchase happens to be the biggest of all conversions. Some major types of conversion are:
Some popular types of conversions are given below:
- Clicking on Links
- Reaching specific Landing Pages
- Submission of a form
- Downloading PDF
- Installing an app
- Adding products to the cart
- Completion of a purchase
Google Ads conversion Rate, on the other hand, may be defined as the percentage of users or visitors who successfully finish one of the desired goals. This number can be derived by dividing the number of conversions by the sum total of the clicks received. It is expressed in percentage and usually reflects the success or efficiency of parts of your campaign.
CR = (Total Conversions / Total Clicks) * 100
It is always a good idea to set a specific benchmark and then start raising your goals. This way, you will be able to reach a correct decision and go on improving the overall performance of your ad.
Let’s Understand What Conversion Tracking Is?
So now that we have a clear idea of what conversions and conversion rates are, we can try and understand what conversion tracking is. It is something which will help you keep track of the types of conversions you are getting, the places they are coming from, and such other information that will be relevant in terms of you making the most of the marketing budget you have.
The tools that help in conversion tracking tell you what exactly your customer does after having watched your ad. They also tell you which of your ads are bringing you customers who are paying. Other information derived from such tools are:
- OS, Device, and Browser in use
- ISP (Internet Service Provider)
- Type of Connection
Tracking your conversions is highly important because you need to know how successful your campaigns are. You will no longer be under the false impression that just because you are splurging, your ads and campaigns will be performing well.
How Would You Optimize Your Ad Conversion Tracking?
Conversion Tracking is highly important for ad publishers because it will help you optimize your efforts and campaigns accordingly. The statistics of performance, along with the consumer data, will together enable you to restructure a campaign that is targeted exclusively toward conversion. Here are a few factors to assist you in the process of optimization:
A/B Testing may so far be the best way of figuring your audience out. Try implementing different versions and making equal splits of the traffic between these versions so that you can make out which of the combinations is engaging your customers the most. Once this is done, you can replicate the successful combinations in your campaigns and ads.
This is applicable especially for companies which invest a lot in their advertising endeavours. This is where their interest should be focused. Conversion Tracking can give them a detailed report on the ads, ad groups, and campaigns that have produced/are producing the most income.
Measurement of ROI
ROI, or Return on Investment, is one of the most necessary as well as complex metrics whenever it comes to arriving at profit or loss. The process of conversion tracking makes it much less complex, as, in this case, you will be able to track the performance of each ad individually. Then you can reallocate your resources to make sure all ads are designed to get paid customers.
Different parameters like location, device type, OS type, etc., help you to segregate the traffic. This information can be used for building separate campaigns and maximizing profits.
So it is evident from the entire discussion on the page that mere investment in advertisements is never enough. You also have to keep track of what you have invested and how you are going about it. This will get your efforts will be optimized and make sure that you are on the right path.
Shubham is a digital marketer with rich experience working in the advertisement technology industry. He has vast experience in the programmatic industry, driving business strategy and scaling functions including but not limited to growth and marketing, Operations, process optimization, and Sales.