To measure is to be sure! This is a time-honoured saying that I hear from many a marketer. Yet I continue to be surprised about the number of marketers who do not know their statistics and if they do it is often not beyond the Open Ratio, Click Through Ratio and the Click To Order Ratios. These statistics give a good indication of how the mailing went, but as a marketer surely you want more than just a good indication.
As a marketer you get a sense of pride when sales have increased during the period of your campaign, yet often you cannot say with any certainty how much revenue you have generated for the company.
To measure the success of your campaigns, you can use conversion pixels. These give you insight into which subscribers to your email marketing campaigns have driven the conversions. Even if they initially ended up on your website via email and only decided to look further at some other point.
What is conversion?
It is often thought that conversion is the same as sales, but that definitely need not be the case. Conversion can also be clicking on a link, watching a video or signing up for a newsletter for example. A conversion could therefore be defined as follows: a visitor does what you want the visitor to do.
One of our customers in the e-Commerce sector uses conversion points to monitor the actions of a mail out recipient. In the example below it can be seen that the conversion point is called ‘action’. The value of the action depends on the action of the recipient, such as opening the site, the range, etc. You are completely free in defining conversion points. You can apply selected codes to random pages, each conversion-pixel can provide data on one or more conversion points.
One of your newsletter recipients, Ann, reads through the website after getting the newsletter. (conversion point = range_open). Sometime later Ann decides to get a TV. This TV model is coded 9054441895 (conversion point = order_placed). Ann fills in her details on the orders page and the TV is ordered. (conversion point = order_finalised).
If the above conversion points are entered on the website, they will be registered as: Ann has opened the site, has viewed the range and purchased the TV; model number 9054441895 worth € 395.
With a well thought out conversion plan, you can see where there may be any bottlenecks on the home page, plus record how many subscribers take action after receiving your mail. This allows you to see exactly how many of your subscribers have placed orders in response to the emails you sent. This also gives an even better overview of what type of content is effective in leading to conversions and what is not.
This way makes it even easier to understand what role email marketing plays within your organisation and allows you, as a marketer to see in ‘black and white’, what your added value in the company actually is. Do you currently know your actually value to the company?
Want to know more about conversion points? Please feel free to contact us.