Tracking conversions is a cornerstone of successful digital marketing and conversion rate optimisation (CRO). However, limiting your tracking to purchases alone can provide a myopic view of your customer’s journey and the health of your marketing funnel. This guide will delve into the importance of tracking a wide range of conversions and how doing so can significantly enhance your CRO efforts.

The Multifaceted Nature of Conversions

A conversion is any desired action that a visitor takes on your website. While purchases are the ultimate conversion for e-commerce businesses, there are numerous other actions along the customer journey that qualify as conversions and are critical to track. These can include newsletter sign-ups, account creations, downloads of a white paper, scheduling a demo, or any engagement that moves a visitor closer to making a purchase.

Why Track More Than Purchases?

1. Understanding the Customer Journey

The path to purchase is rarely linear. By tracking various conversion points, you can gain insights into how customers interact with your brand across different stages of their journey. This understanding allows you to optimise each touchpoint, making the path to purchase smoother and more enticing.

2. Identifying Friction Points

Monitoring a variety of conversions helps identify where potential customers drop off. If many users are adding items to their cart but not completing purchases, there may be issues with your checkout process. Similarly, if there are many downloads of your content but few follow-up actions, the content might not be effectively pushing users to the next stage.

3. Optimising Marketing Spend

Knowing which channels and campaigns lead not just to purchases but also to other valuable actions can help you allocate your marketing budget more effectively. Investing in channels that drive both initial interest and deeper engagement ensures a better return on investment (ROI).

4. Enhancing Personalisation

Tracking diverse conversions enables more personalised marketing efforts. Understanding the specific actions users have taken allows you to customise your messaging and offers to match their interests and stage in the buying cycle.

5. Improving Retention

Engagement doesn’t end with a purchase. Tracking post-purchase actions like account registrations, app downloads, or subscription sign-ups can provide insights into customer loyalty and retention.

Implementing Comprehensive Conversion Tracking

Setting Up Goals in Analytics Tools

Most analytics platforms allow you to set up various goals that align with different conversion actions. Ensure these goals cover a broad spectrum of user actions to capture data at every stage of the funnel.

Segmenting Your Audience

Use the data from different conversion actions to segment your audience based on behavior. This segmentation can inform targeted campaigns designed to move users to the next stage of their journey.

A/B Testing

Utilise A/B testing to understand how changes to your website affect different types of conversions. This can help optimise the user experience at every stage of the funnel, not just at the point of purchase.

Attribution Modeling

Implement attribution modeling to understand the role that different channels and touchpoints play in driving conversions. This can help refine your marketing strategy to focus on the most effective tactics.

FAQs

Q1: How do I choose which conversions to track?

A1: Identify key actions that indicate engagement or progress towards a purchase. Consider your business goals and the customer journey to determine which actions are most indicative of success.

Q2: Won’t tracking too many conversions complicate my analysis?

A2: While it may seem overwhelming, tracking a variety of conversions provides a richer, more nuanced view of performance. Use analytics tools to segment and filter your data to manage complexity.

Q3: How can I ensure the accuracy of my conversion tracking?

A3: Regularly audit your conversion tracking setup to ensure that tags are firing correctly and that data is being accurately recorded. Stay updated on best practices for using analytics tools and consider consulting with experts if needed.

Q4: Can tracking non-purchase conversions actually lead to increased revenue?

A4: Absolutely. By understanding and optimising the full customer journey, you can increase overall engagement, reduce friction points, and ultimately drive more purchases.

 

Focusing solely on purchases when tracking conversions is akin to reading only the last page of a book. You miss out on the full story of how your customers engage with your brand. By tracking a wide array of conversions, you gain a comprehensive understanding of the customer journey, allowing for more informed decisions, optimised marketing strategies, and ultimately, improved conversion rates. Remember, every interaction with your brand is an opportunity to engage, persuade, and convert. Make sure you’re capturing the full picture to truly drive your CRO efforts forward.
Enhance personalisation, improve retention, and boost overall conversion rates with Belmore Digital.