4 steps to make conversion tracking work for your business
When talking about conversions, many business focus too much on sales conversions. However conversions aren’t simply purchases; they can be anything action taken that might ultimately lead to a purchase, such as signing up for an account or to receive email newsletters. Follow these four simple steps to make sure that your conversion tracking is working for you and your business:
One: Identify which pre-purchase conversions lead to a purchase
Knowing your customers is the single most important thing when it comes to advertising your product. Understanding what they will respond to, what will push their buttons and what will ultimately lead to a sale is imperative if businesses are to succeed. Track contextual and behavioural information about pre-purchase conversions such as newsletter sign ups, interactions with explainer or brand videos, reading reviews, creation of accounts and wish lists etc. Analyse this monthly to ensure that you keep on top of your customers’ buying habits and changes in behaviour.
Two: Make the customer journey about them
As new developments occur, consumers are constantly changing the way they research and buy products. Gone are the days where brands had to introduce themselves with a flyer or leaflet. Thanks to technology, everyday consumers form impressions of brands. These influence their future buying decisions. It’s important to remember that every journey is different. Some customers will have bought from you before. Some will not. And some may never have heard of you. So it’s vital to get the balance right when it comes to customer journeys.
There are two ways you can go about this. You can either utilise split testing and analyse the results. Or you can segment your customer database and go to them directly for feedback. If you do this however make sure you don’t go on the defensive. The results will be there to help you. It’s also important to remember that what works for one may not work for another. And at the end of the day you can’t please everyone. So don’t even try.
Leading companies design optimal customer journeys that benefit both the customer and company. Journey design includes cross-touchpoint activity (moving from web to contact centre, for example), the usage of channels within each touchpoint (multimodality and channel selection, for example) and the usage of proactive notifications (reminders and status updates) – all to reshape customer behaviour and lower customer effort, while improving company efficiency.
Designing the experience is important but customer journey management is also critical to achieve the results. Journey management involves the orchestration of the designed journey, monitoring and tuning it to further optimise it. Orchestration manages the steps before, during and after each interaction, and the transitions across interactions and touchpoints – while maintaining the customer experience along the way.
Three: Track consumers
Nowadays, most customers' journeys are discrete and disconnected. These journeys get paused and resumed when the customer is ready. They take place over time, across multiple touchpoints and different channels like the website, mobile app, social media and contact centre. The challenge with these disconnected journeys? To companies, they look random and costly to serve. For customers, they can be inefficient and often frustrating if they contain inconsistencies.
Although asking consumers what they want is effective, sometimes the only sure-fire way to know whether something is working is to track their journey. Multi-channel funnels are great for shedding light into what has actually made a consumer convert. Multi-channel funnel reports in Google Analytics let you see an overview of how all your marketing channels work together to create conversions.
Four: Utilise data insights at touchpoints to improve the chance of conversion
As mentioned above, analysing behavioural data is essential if businesses are to succeed. Whether you’re analysing test results, web traffic, bounce rates or other forms of data such as feedback, you need to optimise your site in order to give consumers what they want – otherwise they simply won’t come back.
Here's another way to improve the likelihood of conversions. Gather data about individual customers and their behaviours. Then use it at the points at which you interact with them. If a customer emails or calls in with a question, use insights about them to improve the way you serve them. This becomes especially important if they're a high value customer, who might expect VIP treatment. Imagine if such customers received a special VIP email one week. But the next week they are treated like a random customer when calling in with a question. This negative experience can impact conversion. So use this gathered data to be consistent, relevant and helpful across every touchpoint.
Have you made any significant changes that have had an impact on your conversions? Or do you have any questions about conversion tracking you need help answering? If so, get in touch!