Some products demand a very specific conversion strategy. If yours includes a process of generating leads through your website to nurture and follow up offline, then you may face an issue which has plagued marketers for years.
While it may make your old-school PPC account manager feel warm inside to see a healthy rate of conversion from form fills and phone calls, that often isn’t a good indicator of campaign success anymore.
The modern day digital marketer needs to understand which clicks are turning into sales and not just the ones that are generating interest.
So, where does the problem lie, and what can you do about it?
Let’s say you spend $100,000 each on two separate campaigns. Campaign A generates 1,000 online leads, whereas Campaign B generates only 500.
Using this information alone, you would probably choose to focus your resources on Campaign A as it seems to offer a better ROI. However, the problem lies in the fact that the lead-to-sale conversion rate is rarely consistent across different campaigns, keywords and channels.
If Campaign B converted its 500 leads at a rate of 50% and Campaign A only managed 10%, then it puts a dramatically different perspective on the success of both. The more granular you get with conversion analysis, the better you’ll understand these conversion rates and the more effectively you’ll be able to allocate your budgets.
When you’re spending $50 a click in some valuable and competitive markets, then it is a necessity rather than a bonus.
Failing to recognize and tackle this issue can mean you’re not aware of which of your leads are good or bad, and can cause a whole host of other issues including:
Manual work to review and feedback on lead quality
Not knowing which keywords are actually generating sales, so you can’t optimize AdWords/paid marketing accordingly
Wasted ad spend on keywords that generate low-quality web leads
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