Conversion tracking is one of the ways in which you can measure success. Essentially, tracking sales conversions is all about tracking what caused the sale. Did your prospect click a link on social media, in an email, an affiliate link, or what did they read or do that caused them to buy the item that you sold to them? Knowing that information can help you to repeat it and do it more.
Conversion tracking is one of the ways in which you can measure success. #EventPreneur #KnowYourNumbers #salesconversion Click To Tweet
- First Set Your Goals – Setting goals is so important when it comes to sales conversion tracking. Of course, everyone wants 100 percent of the people who find out about their product to buy, but it’s best to pick a more realistic goal based on industry standards and work toward that.
- Next, Know How You’ll Track It – When you want to measure anything, it’s important to know how you will track it. Will you use Google to track the conversions or something else? Get that into place as soon as you set your goals.
- Then Collect the Data – One you have the goal and the software in place, start collecting the data that you wanted to collect. The more you can do this through different scenarios, the better. Because the more times you collect data during a campaign, the better you’ll get at the campaigns as you go due to using the data.
- Watch for Lost Data – Most tracking is done within 30 days of an event for it to be measurable. But, what if a lot of sales come through after the 30-day time frame? You want to know where those sales came from too. It’s important to watch out for lost data.
- Analyze the Data – When you get the data, start looking at it to get meaning from it. Put it in meaningful charts and graphs so that you can get something out of it that will help you improve the numbers.
When it comes to conversions, track what links are clicked on, who placed those links, and where they’re placed. This will help you repeat the success that is being made on these conversions. Once people convert, follow up with them and track their engagement with you, their complaints, compliments, and ticket use.
Let’s look at a few problems that could show up and how to deal with them.
- Low Conversion Rates – If you’re experiencing low conversion rates first look at how many people are looking but not clicking, then how many are clicking but not converting. Each step of the way there is something you can optimize to make it better. It might be the copy with the link that needs improvement. It may be the sales page. It might even be erroneous audience targeting. The numbers will let you know.
- High Conversions High Returns – Sometimes you seem to be doing great, you’re selling like gangbusters then you start to notice that people are returning the product at a higher rate than expected. It’s simple to deal with this: ask them why. They will tell you.
- Return on Investment – Using the data you collect, determine your return on investment. What do you get back for every dollar you spend? For example, most B2B businesses report an average ROI of 38 to 1 for email marketing.
- Time to Sale – How long did it take once the customer became a prospect for them to become a customer? Then look at that timeline and ask yourself what you can do to improve the timing. Do you need to add more content to your funnel? Do you need to add a webinar? Try different things to improve.
When you know your goals, and how to track them, and you can see how you’re doing, then you can also see easily how to fix the issues and optimize every step of the process to improve the numbers.