Improve Digital Marketing Conversion Rates with ROI Optimization

Planning, Building, and Implementing the Best ROI Strategies for 2023

Defining Your Goals to Reach your Ultimate ROI Optimizations

What Do You Want to Achieve With Your Marketing Campaigns?

If you’re interested in improving your digital marketing conversion rate, it’s imperative you set the proper goals for your campaign. What do you want to achieve with your marketing campaigns? More importantly, how will you measure whether or not you’ve achieved those goals? Answering these all-important questions is imperative to creating a meaningful and effective campaign that translates into real, measurable results for your business.

How To Track Your Campaigns

In many ways, properly tracking your conversions may be equally as important as securing them in the first place. Without proper tracking methods, you are shooting out campaigns without any clear indications of what you want to achieve or what success practically looks like. It’s about thinking through what it means to run a successful campaign, and that starts with choosing the right metrics to track. Many metrics are available, so pick one that fits best for your campaign’s structure, goal, and method. 

Let’s say, for example, that one of your goals is to increase brand awareness, and so you launch a video ad campaign focused on appealing to your target customer, but that doesn’t include a direct call to purchase. In that case, you would want to measure  success by analyzing the campaign’s reach, impressions, and watch time over other metrics, as these would show you directly how successful your campaign was at getting and holding the attention of your audience. That way, you can get a clear idea of your campaign’s success with measurable and solid results, provide proper reporting to clients or internal team members, and have a clearer understanding of the particular messaging that initiates a response in your target audience. This data can also be used to help improve active and future campaigns. The metrics associated with a campaign can be used to analyze the overall responsiveness of your target audience to your messaging. What gets their attention? Does specific messaging styles and imagery appeal to them? This is the kind of information you can gain from analyzing your campaign data.

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Technical Aspects of Conversion Tracking

How to Build Conversion Tracking in Google Analytics

There are a few different ways to track reach, clicks, conversions, and other metrics. The most common methods are through Google Analytics and/or conversion tracking pixels. Google Analytics is a free tool that can be used to track pretty much any metric imaginable. Conversion tracking pixels are snippets of code that are placed on specific pages of your website (such as the thank you page after a form submission). These pixels allow you to track specific actions that users take on your website. 

Simply put, conversion tracking is a way to measure how well your website or landing page is performing in terms of generating leads or sales. By understanding which areas of your website are causing users to convert, you can make changes to improve your overall conversion rate. Not sure where to start? Don’t worry, and we’ll walk you through the basics of conversion tracking and how to set it up in Google Analytics.

Getting Set Up In Google Analytics

If you’re not already using Google Analytics to track your website traffic, now is the time to start. Google Analytics is a free tool that provides valuable insights into how users are interacting with your site. To set up conversion tracking in Google Analytics, follow these steps:

  • Create a new goal in Google Analytics. To do this, click on the “Admin” tab and then select “Goals” from the “View” column. From there, click on the “+New Goal” button.

  • Give your goal a name and select “Destination” as the type.

  • Enter the URL of the thank-you page or confirmation page that users will see after they complete a conversion on your site.

  • Select “Use goal values” if you want to assign a monetary value to each conversion.

  • Click “Save.”

And that’s it! You’ve successfully set up conversion tracking for your website. Now, every time a user completes a goal on your site, it will be recorded in Google Analytics. By reviewing your conversions over time, you can get a better understanding of which areas of your site are performing well and which need improvement.

How to Interpret the Data

Finding Areas for Improvement

So what do you do with all that data once you have it? How do you make sense of it and find areas for improvement? Next, we’ll take a look at how to interpret your digital marketing campaign data and find areas for improvement.

1) Look at the Big Picture

When interpreting your digital marketing campaign data, it’s important to look at the big picture. How did the overall campaign perform? Which goals did you hit or miss? What was the ROI? Once you have a good understanding of the campaign’s overall performance, you can start to drill down into specific areas for improvement.

2) Identify Your Top-Performing Channels

One of the first things you should do when interpreting your data is to identify your top-performing channels. Which channels are driving the most results? Where are your ideal customers spending their time? Once you know which channels are performing well, you can double down on those efforts and cut back on underperforming channels.

3) Analyze Your Competition

It’s also important to analyze your competition when interpreting your digital marketing campaign data. How are they performing? What are they doing differently than you? What can you learn from their successes (and failures)? By keeping an eye on your competition, you can stay ahead of the curve and make sure your campaign is always on point.

4) Set Goals and KPIs

Finally, when interpreting your digital marketing campaign data, it’s important to set goals and KPIs. What do you want to achieve with your next campaign? What metric will you use to measure success? By setting clear goals and KPIs, you can make sure your team is always focused on driving results.

There’s a lot of data that comes out of a digital marketing campaign. While it might seem overwhelming at first, it doesn’t have to be. Focus on the important things for your business to keep track like digital marketing conversion rate with ROI optimization.

Tips for Optimizing Your Website

Working with Your Digital Marketing Conversion Rate

A website’s conversion rate is the percentage of visitors that take the desired action on your site. That desired action could be anything from making a purchase to subscribing to a newsletter or filling out a contact form. If you’re not happy with your website’s conversion rate, there are a number of things you can do to improve it. Here we’ll share some tips on how to optimize your website for higher conversion rates.

Use Compelling Copy

The words you use on your website can have a big impact on conversions. Your copy should be clear, concise, and compelling. It should also be targeted to your audience and address their needs. Take some time to really think about what you want to say and how you can say it in a way that will resonate with your visitors.

Have a Strong Call-to-Action

Your call-to-action (CTA) is what tells visitors what you want them to do on your site. It should be clear, direct, and easy to spot. The CTA should also be relevant to the page it’s on. For example, if you’re selling products on your website, each product page should have a CTA that says “Add to Cart” or “Buy Now.”

Make Your Forms Short and Sweet

Long forms can be daunting for visitors and lead to high bounce rates. If you want people to fill out forms on your site, make them short and sweet. Only ask for the information that’s absolutely necessary. The fewer fields there are in a form, the more likely people will be to fill it out.

Use Visuals Wisely

People are visual creatures and respond well to visuals like images and videos. But beware–too many visuals can actually hurt conversions by overwhelming visitors or slowing down your site’s loading speed (which also hurts conversions). Use visuals judiciously and make sure they’re adding value to your site rather than taking away from it.

Conduct A/B Testing

A/B testing is when you show two different versions of something (like a landing page) to two different groups of people and see which one performs better in terms of conversion rate. This is a great way to test different elements of your website (like a copy, CTA placement, etc.) and see what works best for your audience.

All of these techniques are things that you can use to generate new traffic, viewers, and conversions for your website. If you feel that any of these techniques would be beneficial to you and your business, then feel free to incorporate them into your campaigns. If you are looking for a more in-depth experience in ROI optimization, then consider connecting with one of our specialists here at Allegiant Digital Marketing! We can get you set up with a free ARC report and started on a journey of optimized ROI.

4 Common Mistakes People Make When Tracking Conversions

Factors to Consider Before You Get Started

ROI Optimization through Digital Marketing Conversion Rate Optimization can be a tricky business- there are a lot of factors to consider, and even small changes can have a big impact on your bottom line. However, by avoiding these four common mistakes, you can set yourself up for success:

Relevancy has to do with features like where you place keywords within your website, how you structure content on your web pages and producing highly valuable and engaging content that your audience takes the time to read.

Another mistake people make is relying on last-click attribution exclusively. This means that they only give credit for a conversion to the last touchpoint before the sale was made. However, this doesn’t give you an accurate picture of the customer journey. Just because someone clicked on your ad right before they converted doesn’t mean that your ad was responsible for that conversion. They may have seen your ad earlier and been reminded of your product when they saw it again later. Or, they may have been influenced by a friend’s recommendation or a positive review. The point is there are a lot of factors that go into a conversion, and last-click attribution only tells part of the story.

If you’re not setting up goals in Google Analytics, you’re not tracking conversions properly. Goals allow you to see which of your marketing campaigns are driving results and which ones aren’t. Without goals set up, you’re basically just looking at a bunch of numbers with no way to interpret them. If you’re serious about tracking conversions, take the time to set up some goals in Google Analytics.

The fourth mistake people make is tracking too many metrics at once. When you’re first starting out, it’s tempting to track everything—but this quickly becomes overwhelming, and it’s not very effective. Stick to the basics at first (conversion rate, cost per conversion, etc.), and then add more metrics as you get more comfortable with the data, the methods, and the narratives that the data is telling you.

Conversion tracking is an essential tool for any digital marketer or small business owner—but it’s also easy to screw up if you don’t know what you’re doing. With some of these techniques you should hopefully be able to create more dynamic, engaging campaigns that lead to conversions.

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ROI for the Intelligent Business Owner

Ready for a Radical Change?

The internet is a vast and ever-changing landscape, but with the right tools and a little know-how, you can make your business thrive. We hope you feel more prepared than ever to tackle your website’s analytics and start seeing better ROI for your business. If you still have any questions on Digital marketing conversion rate with ROI optimization, don’t hesitate to reach out to our team. We’re always here to help, and we want nothing more than for your business to succeed. On behalf of Allegiant Digital, thanks for reading, and happy optimizing!

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