Understanding Conversion Tracking.
Conversion tracking involves monitoring user actions on your website to discern which content prompts specific actions. It provides insights into how customers engage with your business, evaluating the success of your marketing endeavors.
What is a Conversion?
A conversion is a favorable action by a customer on your site, extending beyond a mere sale. The definition of conversion goals is flexible, encompassing various events:
Email list sign-ups.
Lead generation.
Clicks on an ad.
Purchases and sales.
Newsletter subscriptions.
Social media engagement.
Video views.
App installs.
Benefits of Conversion Tracking
Measuring Campaign Effectiveness: Track which campaigns yield valuable outcomes, informing future resource allocation.
Optimize ROI: Assess whether your marketing spending generates returns, aiding informed budget investment for maximal returns.
A/B Testing and Experimentation: Facilitate A/B testing of different marketing assets, optimizing strategies based on conversion insights.
Improved Website User Experience: Identify potential pain points in the customer journey, enhancing website UX and optimizing conversions.
How to Set Up Conversion Tracking
Setting up conversion tracking typically involves using analytics platforms like Google Analytics or Facebook Pixel. HubSpot users benefit from built-in tracking and a CTA tool, seamlessly integrating custom conversion points.
Using Attribution Reports
Navigate to "Reports" and select "Reports Home."
Create an attribution report choosing from three types: Contact create, Deal create, or Revenue attribution reports.
Select a time period and interaction scoring type.
Choose an analytics property (URL, referrer, or source) and an attribution model (e.g., first touch, last touch).
Run the report to visualize the customer journey and significant impacts.
Conversion tracking guides your marketing strategy, optimizing channel effectiveness and maximizing your marketing budget's impact.