How to Improve the Way You Track Online Conversions and Measure ROI

By Tinuiti Team

Tracking online conversions and measuring ROI has become more efficient over the years. This is largely because of technological advancements in analytics software. But the foundation of this consists of ingenious, consumer-oriented tracking goals and policies. Luckily, these are easier to change than software to achieve better results. And there’s always room for improvement. Learn how you can upgrade your techniques to experience more sustainability within your business. Doing so will enable you to invest the right kind and amount of professional resources in the best ways.

Organize Tracking Priorities

Identifying all your tracking initiatives is key to effectively measuring online conversions and ROI. Your tracking data needs to encompass every online sales tactic you may rely on, such as SEO, PPC, social media advertising, and content marketing. Doing so will help you figure out what details are truly of importance and what aren’t. Furthermore, you’ll be able to quantify tracking data in a structured format.

There are four essential areas you should track: website traffic, desktop activity, mobile activity, and video engagement. Extracting these details will indicate who visits your website (and how much), engagement differences between desktop and mobile use, and the viral capabilities of your videos.

Establish Compatible Financial Goals

Design and implement consistent financial goals your tracking activity will help you achieve. Make this a realistic process. This will help you keep your ROI measurements within perspective. It’s important to avoid having exaggerated expectations about how your financial investments will serve you in the long run. In return, you’ll be able to organize your money in the most beneficial way, ensuring the growth of your business.
Also, you’ll be more equipped to deal with setbacks that shift your earning potential, by modifying your goals. Establish these goals in monthly or quarterly increments. Talk to trusted financial advisors to gain better insight into ways to enlarge your ROI.

Implement Proficient Tracking Technology

Once you have your tracking and financial goals ready, move on to integrating the right technology for measurement collection. There are numerous ecommerce marketing tools to efficiently measure how your products and services perform. For example, Google Analytics provides comprehensive and digestible reports on consumer activity.

Keep up with the popularity of blog or social media content as well as the amount of promotion-driven traffic to your site. This free tool was updated earlier this year to tackle privacy concerns, giving users more security. Use a spreadsheet or database table to manage which employees have access to your tracking technology.

Delegate Tracking Responsibilities

After your tracking system is set up, figure out who is equipped to interact with it. Designate a team of workers who will be responsible for tracking online conversions. Spreading out responsibilities decreases the chance of mistakes being made when interpreting results.

Bringing multiple minds together expands the potential to develop new perspectives for enhancing results. For the best tracking experience, train your team to understand the ins-and-outs of the software instead of just handing it over to them. Also, it’s ideal to assign a chief conversion officer to oversee everything.

Expand Consumer Feedback

Using proficient tracking technology will certainly capture a lot of information about consumers, but you can afford to go further. Incorporate surveys or daily polls to extract more details about people who follow your business. Even providing interactive quizzes can lead to a greater depth of insight. This practice will add a more personal approach to your overall strategy for conversion rate optimization.

Consumers could share explanations about products and services they love or dislike. They could provide suggestions about how to improve your business. In addition, practicing this tip will show them you care about their interests. It’s a good way to build trust among consumers.

Elite SEM specializes in establishing innovative online conversion practices with high customer retention rates. To learn how you can increase your ROI potential, read our case study: Gilt City Increases PPC Clicks by 16% While Reducing CPA by 20%.

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