While there are brand-building benefits to posting on social media, the main goal is typically conversions–motivating your followers to click on your posts, visit your site, and take some sort of action. Conversions don’t always mean making a purchase; your organization can classify any event in the sales pipeline as a conversion.
Surprisingly, many organizations overlook proper conversion optimization, and by doing so, they might be wasting money on improperly-designed campaigns. Cote Media can perform a conversion analysis on your current campaigns or implement a new campaign with conversion best practices engaged.
According to Denis Pinsky, Director of Digital Marketing and Analytics at Forbes, conversion optimization makes up two of their Top 11 Best Practices for 2018 Web Development:
Tracking Enabled— Analytics matter – it’s the best way to determine that your website is actually doing its job. The final design should include functionality to gauge key indicators such as traffic, goals, and conversions.
Conversion Optimized— Have a conversion-centric client? Implement tools for creating campaign landing pages into your design. These designated pages can keep your readers moving through your site and direct them to schedule an appointment, request a product demonstration, and even make a purchase.
WHAT ARE SOME CONVERSION EVENTS?
What are some events organizations classify as conversions? These events include,
- Contact Form Submissions
- Blog Post Views
- Video Views
- Newsletter Subscribes
- Webinar Participation
- Return Visitors
- Interactions per Visit
Some marketers classify events that do not result in immediate profits as micro-conversions. Both Google and Facebook allow developers to track these conversions as milestones in a funnel. Your funnel can have as many micro-conversion events as you choose. The greater the specificity, the greater detail on the effectiveness of your marketing campaigns.
ASSIGNING VALUES TO CONVERSIONS
Typically an organization will assign a value to a conversion. This allows the marketing team to better account for the success of their marketing campaigns. Conversion values can easily reveal if that investment your organization spent on social media posts is actually being earned back through events.
Assigning a value to a purchase is easy, but how do you assign a value to an event that has no clear profit? One method is estimating how much you might pay a lead generation firm for the new contact. Ever purchase mailing or phone lists? Similar values can be assigned to new conversions that don’t make immediate purchases.
Often organizations that are not selling anything on their website will not assign a value to a conversion. But tracking a conversion is crucial for measuring the performance of a social media campaign.
WORKING WITH YOUR DEVELOPER TO ASSIGN VALUES
As a client, it’s up to you if you want to allow your developer free reign to assign conversion values based on industry standards. Your developer can perform industry standard research for your particular field and estimate conversion values. Since conversion values are often estimates, this is not uncommon.
Another option is to work with your developer assigning very specific values to your conversions. If your developer is not in-house, this might be necessary if you’re looking for more accurate conversion values.
FACEBOOK PIXEL AND GOOGLE ANALYTICS
One of the most important actions in the conversion optimization process is activating and installing your Facebook Pixel. This too is often overlooked. As part of our conversion analysis on your website and social media, Cote Media will check if the Facebook Pixel has been installed properly on your site. If not, you are likely wasting money with your social media marketing campaigns.
Google Analytics will also ask for conversion values for events and actions on your site. You can also assign conversion values to your Google ad campaigns. Cote Media will also check your Google Analytics implementation as part of our conversion analytics.
REQUEST A CONVERSION ANALYSIS
Concerned your website and social media accounts are not properly configured for conversions? Contact us today. We will perform a free analysis of your current website and social media accounts to see if your conversion tracking is enabled.