//Why You Need Better Conversion Tracking to Win the Sales Game
1549567908 why you need better conversion tracking to win the sales game 760x490 - Why You Need Better Conversion Tracking to Win the Sales Game

Why You Need Better Conversion Tracking to Win the Sales Game

 

 

why you need better conversion tracking to win the sales game - Why You Need Better Conversion Tracking to Win the Sales Game

Consider the following through the research of Think with Google :

90% of B2B researchers who are online use searches specifically to search for business purchases.
71% of B2B researchers start with a generic search.
B2B researchers have an average of 12 searches before committing to the site of a brand.
Influencers and decision makers in the B2B buying process are halfway through the decision before taking action on your site.

90% of B2B researchers use the search for business purchases via @Google #Research. Click to Tweet

These statistics tell me that your prospects are doing a lot of online research on products and solutions that can meet their needs. With compelling content marketing and a website optimized for SEO, your goal is that they discover your B2B brand during this research process.

In addition to passing prospects through the main door, it is important to follow them as they head for the back door. Conversion tracking can indicate the number of customers you have purchased and the marketing campaigns that played a role in the sale.

In a Content Marketing World Presentation A-Z Conversion Tracking Issues for B2B and Resolution Leslie Carruthers Reports Conversion Tracking for B2B:

Helps evaluate your marketing effectiveness
Saves money by allocating the budget to underperforming channels
Improve profits by spending more on winning strategies

Conversion tracking can also be used to quantify the performance of your marketing team and secure future budget permissions for Suite C.

According to Leslie, "We are here to prove that the website works so that you can take advantage of it. With conversion tracking, you'll be rewarded with the data you need to get the budget that lets you do everything you've got in mind. "

In his presentation, Leslie describes the top five B2B conversion tracking issues, as well as ways to resolve them.

1. Sales made through distributors are hard to follow

Instead of buying directly from the brand, many B2B customers buy from a reseller or distributor. B2B brands can have dozens, hundreds, even thousands of resellers and distributors in their channel network.

In this model, prospects visit the brand's websites to research and evaluate their products, and then visit a reseller's website. In this case, the potential customer can go to a sales professional, get the price and finally buy the product.

Leslie shares the example of a multi-billion dollar organization that sold its products through distributors and how it used conversion tracking:

Step 1 : Follow "micro-goals" or small actions that do not yet indicate a strong interest in buying (for example, page views and clicks).
Step 2 : Add "macro conversions", which are more interesting indicators of buyer interest (contact form, catalog downloads, search for distributors, for example).
Step 3 : Assign values ​​to each conversion to better understand which channels work best.

As you can see, in the first stage, the organization is relatively blind about the conversion of customers (for example, looking for distributors to buy from). In the third step, the organization uses weighted values ​​to determine which marketing channels are generating the most useful conversions.

Assign dollar values ​​to goals based on their importance for sale, says @LeslieCarruther. Click to Tweet

Here are the goal values ​​chosen by the organization:

1549567907 93 why you need better conversion tracking to win the sales game - Why You Need Better Conversion Tracking to Win the Sales Game

According to Leslie, it is important for the marketing team to regularly check the assigned goal values ​​and determine if they need to be updated.

In addition to tracking macro conversions, Leslie recommends that organizations track the vendor-related activity. Even though an organization may be blind to the sale of a product by Distributor A, it can quantify the activity of the website linked to that distributor. Here's what she recommends doing:

Follow distributors' research on the website.
Follow the phone calls from your website's distributors (for example, by following a "click to call" hyperlink to a distributor's phone number).
Use a marketing automation platform to track relevant or notable clicks.

2. Set bad conversion goals

The analogy "waste, waste" can be done for tracking conversions. If your conversion goals do not make sense or do not match business goals, then conversion tracking makes no sense.

Leslie cites the example of a financial company that sets its values ​​as goals backwards:

Click on the pages: $ 500 (the least important)
Start of application: $ 250 (less important)
Completed application: $ 0 (the most important)

The company gave the highest value to the objective at a micro-objective (clicks), the value zero being given at the completion of an application (ie the most significant macro conversion significant). These values ​​create misleading indicators: 10 completed applications would not trigger any sign of success, while 10,000 pageviews could indicate the best month in the company's history.

In another example, Leslie describes a company whose pages of thanks and search functionality were confusing: "This company had no less than three postcode search events on the site, all resolved into thank-you pages. different. (He also had) two different 'find a pro' contact goals and two different contact goals for the contact form. All resolved to different pages of thanks. "

The multitude of searches has created a mess. It was difficult to track conversions to the original search page.

Leslie's advice is to take a step back and identify what you want visitors to do on your site or on specific pages. Examples include:

Submit a contact request form
Download a catalog
Watch a video for a new product

Next, separate your macro objectives (more important) from your micro objectives (less important). Here is an example of Leslie:

1549567907 363 why you need better conversion tracking to win the sales game - Why You Need Better Conversion Tracking to Win the Sales Game

Finally, Leslie recommends interviewing clients so that they can help you validate your goals. Ask questions such as "How did you find us?" And "After finding our website, what did you do next?" Check if the customers' experiences match the goals you have defined.

Ask customers so that they can help you validate your business goals, says @LeslieCarruther. Click to Tweet
RELATED ORDERED CONTENT: These 7 Visual Tactics Can Boost Landing Page Conversions

3. Assignment of target values ​​to non-e-commerce conversions

E-commerce conversions are easy to quantify. A conversion is a final sale. The value of the conversion is the total amount of the sale. In a B2B transaction, where many conversions lead to a sale, it can be difficult to assign values ​​to each conversion (for example, a goal).

Leslie's approach is to use historical data to create goal values. Historical data might include:

Conversion rate (for example, page views for submitting submissions)
Percentage of targeted activities that lead to a final sale
Average value of the order

Leslie explains, "If you know that when someone is watching a video, 2% of viewers convert to balances and the average value is $ 500, then you can set a target value to watch a video." $ 10. "

In other words, if 2% of video views result in a sale of $ 500, the value of each display is $ 500 multiplied by $ 0.02, or $ 10.

According to Leslie, "the reason for assigning values ​​to objectives is to be able to evaluate campaigns and marketing channels." It recommends periodically evaluating goal values ​​to ensure that they correctly represent customer conversion paths.

Periodically evaluate the objectives to ensure that they correctly represent the path traveled by customers for conversion. @LeslieCarruther Click to Tweet

In the example of video views, goal values ​​need to be adjusted if key assumptions change (for example, the average order value and the conversion rate from the video view to the finalized sale ).

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4. Conversion tracking on external sites

Conversion tracking can be difficult when the conversion activity takes place on an external site. Common scenarios relate to payment processors and event management platforms:

1549567908 116 why you need better conversion tracking to win the sales game - Why You Need Better Conversion Tracking to Win the Sales Game

Another scenario that may complicate conversion tracking is where a blogging or content marketing platform hosts your content on a subdomain (your website, for example, is example.com, then that your blog is on blog.example.com).

In both scenarios, the data may indicate that most of your conversions come from direct traffic or reference traffic. It would be incorrect. As Leslie explains, "the problem here is that we can not make good decisions, we can not allocate our budget if everything seems to come from direct sources and references."

If you use Google Analytics, the solution is to set up cross-domain tracking. According to a Google Analytics Help Page "Cross-domain tracking allows Analytics to display sessions on two related sites (such as an ecommerce site and a site of separate shopping cart). . "

Cross-domain tracking allows @googleanalytics to display sessions on 2 related sites as a single session. @LeslieCarruther Click for Tweet

You may need the help of a web developer from your IT team to make it happen. According to the same Google Analytics help page, you need to be comfortable for editing in HTML and coding in JavaScript. You can add the relevant domains to the Google Analytics JavaScript code on your website.

Once the operation is complete, the conversion reports in Google Analytics will group the external sites with yours, which will give you a more reliable source of attribution . Rather than directing and directing, you now see the real channel or program responsible for conversions.

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5. Double Tracked Conversions

Leslie gives the example of a business-to-business e-commerce company that inadvertently tracked conversions in Google Ads and Google Analytics. The result? His return on advertising expenses was $ 13 while it was $ 7.50.

Do not track conversions in Google and Google Analytics ads if you want accurate numbers, says @LeslieCarruther. Click to Tweet

To resolve this problem, confirm that double tracking is in progress. Compare the numbers of your advertising platform (Google Ads, for example) and your analytics platform (eg Google Analytics). If you are not familiar with this, work with an agency or an expert to tell you if the problem exists.

Once the double tracking has been confirmed, keep track of your favorite source and disable it on the other source.

Mark the cart with an appropriate conversion tracking

Let's compare your marketing organization to a basketball team. You've won your first five games convincingly. However, the statistician of the team with the flu, so you have not recorded the minutes, points, rebounds, aids and flights credited to each player.

How can the coach decide the starting lineup for the next match? How can the league choose which players to name in the star team? They can not, because there is no data that informs them about player performance.

That's what it can look like for a B2B marketing organization that works without effective conversion tracking. Sales have taken place, but the marketing team does not have the conversion data they need to ensure future success: assessing marketing effectiveness, maximizing spend, and increasing profits.

Before you hurry to generate the next 100 leads for your sales team, keep track of your conversions. The first can make the sales team happy this month, but the second ensures the long-term success of any organization.

How would you rate the effectiveness of your conversion tracking and where should it be improved? Share your thoughts in the comments.

Here is an excerpt from Leslie's presentation :

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Cover image of Joseph Kalinowski / Content Marketing Institute