The answer to how can conversion tracking help users lies in its ability to put numbers to marketing results. This is accomplished by enabling businesses to track the number of times members of their audience take specific actions such as contacting the business, subscribing to their mailing list or buying their products or services. By determining the value of these actions and comparing them to the number of conversions generated by different marketing campaigns, a business can optimize its active online marketing efforts or improve future ones in line with its KPIs (key performance indicators).
KPIs vary depending on a company’s goals but some common examples include number of purchases made, number of customers who visit a “thank you” page after purchasing an item, time spent on the website, number of pages clicked and so on. Businesses can use this data to optimize their websites, landing pages, ads and various marketing channels in order to generate more conversions and enjoy a better ROI.
Conversion tracking is a powerful tool for measuring the success of an email marketing campaign. However, how can a business decide which campaign or messages should be credited with a conversion? This is where attribution models come in. For example, Klaviyo uses a last touch model that attributes a conversion to the message sent to the customer as long as it falls within the attribution window. However, this method is not ideal for businesses that are trying to close sales with high-value customers or want to know when a customer first interacted with them and what stage they’re at in their purchase cycle.