One of the most important aspects of SEO and online marketing is the conversion rate of your website. Countless amounts of time’s we will have potential clients who think that they need to rank for “more” keywords, however there bounce rate and data of their website indicates that they might need A) New website or B) Update of the existing landing pages. Success of conversion lies on the strong shoulders of sales. No matter whatever type of conversion it is- subscription to newsletter, request for quote, add a comment, or the like, the prime objective is to drive the prospects to purchase your products/services.
Marketers have been using a number of attribution models to find out more about the conversion process and to evaluate what drives the prospects to take the desired action. Say for an instance: – if a prospect is buying your product, then what element is really exciting him/her or if you are receiving abandoned shopping carts, then at which stage the prospect is discarding your offering.
For example: –
Value-Based Attribution is used to assess the value of each interaction/ communication. There can be several factors that influence the value of a communication.
- Type of interaction
Interaction can be in the form of messages, e-mails, advertisements, infographics, videos, etc. But the implication of every interaction is not conversion. Another notable aspect is to evaluate whether it is a single or multiple interactions which leads to a conversion.
- User involvement
Participation and involvement of the users is essential for successful communication. However, you should figure out the reason of its eruption. This means if the users themselves ask a query, then it will not be considered as a conversion. In this case, the users are taking the initiative. Conversion can only occur if the users perform an action as directed by you.
- Reliable customers
If you are able to fetch some new business or accelerate your sales through some of your loyal and reliable customers, then the actual credit of this should be given to the previous conversions. Here, the current interaction may not play a major role.
Similarly, there are various other approaches that marketers follow to assess their conversion process to determine if it is successful or not. Before choosing any particular model, you should know the effectiveness of the chosen model, understand what you are trying to accomplish, and ensure that it suits your business objectives/ campaign goals.
Due to the existence of complex business scenarios, there is an urgent need to look for ways to measure the efficiency of your marketing approach and methods used. If things aren’t moving smooth, it’ll help you make the necessary edits in due time.