Once you’ve built your audience and they are engaged with your brand and your content, you then want them to take a specific action. This could include making a purchase, signing up for a service or completing a lead generation form. This is how to know your data and the success metrics for conversion.
Conversion Rate
The conversion rate is the percentage of users who have completed the action you want out of the total number of visitors to your landing page or website. You can use it as a direct overall measurement of the effectiveness of your campaign in driving conversions such as sales. Are you getting the results that you want?
Cost Per Conversion (CPC)
You can use the CPC to help assess the efficiency of your campaign in terms of ad spend versus the value that is generated from the conversions, such as the value of sales generated.
Return on Ad Spend (ROAS)
The ROAS measures the revenue generated for every unit of currency (pound, dollar, etc.) spent on advertising. You can use this to gauge the profitability of your conversion activities—the total amount of money spent on advertising compared to the results you get.
Click-Through-Rate (CTR) on Call-To-Action (CTA) Buttons
Tracking the CTR specifically on CTA buttons can indicate how compelling your offers are and how effective your campaign is at driving visitors to take your desired action. You can test out different calls-to-action to see which is the most effective.
Conversion Funnel Drop-Off Points
Use Google Analytics to analyse the stages of your conversion funnel. Identifying drop-off points can help you identify areas to tweak to improve the overall conversion rate. This can help to increase your sales.
Average Order Value (AOV)
Tracking the AOV can provide valuable insights into the value of each conversion and help you optimise pricing strategies and upsell opportunities. Can you increase your average order value by tweaking your pricing or bundling products?
Conversion Attribution
Understanding which channels and touchpoints contribute most to conversions can help you allocate resources and budget effectively and optimise your campaign strategy for maximum impact. Use Google Analytics to ensure that you understand what activities are driving your sales. Focus your efforts on optimising your budget where it can have the most impact.
Cart Abandonment Rate
When you are focused on running e-commerce sales campaigns, track the rate at which users abandon their carts without completing a purchase. Use your data to help identify barriers to conversion and implement strategies to address them. Make sure that your website does not make it harder to complete a purchase with unhelpful pop-ups or hidden important information.
Customer Lifetime Value (CLV)
Calculating the CLV helps you to estimate the long-term value of acquiring a customer through your conversion campaign over the longer-term. You want customers to come back to you for repeat purchases not just one-offs. Understanding your CTV can help you think about creating effective customer retention and loyalty initiatives to bring customers back again and again.
Post-conversion Engagement
Monitoring post-conversion engagement metrics such repeat purchases, customer reviews and referrals can help to gauge customer satisfaction and loyalty resulting from your campaign. Encourage customers to give you feedback on their experiences through Google reviews or social media engagement.
By knowing your data and understanding the success metrics for conversion, you can properly evaluate the performance of your conversion campaign, identify areas for improvement and optimise your strategies to drive the actions you want and achieve your business goals.
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