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14.05.2019 Interview: What are the trending topics around Marketing Attribution?

Jörn Grunert is a MarTech enthusiast and expert in data-driven marketing attribution. For 6 years, he has been Managing Director at Exactag and is responsible for the strategic orientation of the company. With over 20 years of experience as a leader in digital AdTech and MarTech start-ups, he sets the course for innovative technologies.
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07.05.2019 4 tips how marketers can keep pace with growing technological innovations

The level of innovation in the technology sector is constantly rising and presents a lot of new challenges to many companies. It is becoming increasingly difficult for marketing managers to keep up with the latest trends and developments in technology. The growing number of AdTech and MarTech solutions poses growing challenges to marketers in terms of budget, staff, training and time.
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Conversions vs. Traffic – Why Conversions Matter More

Conversions_wichtiger_als_Traffic
02. 08. 2017

Advertisers that sell products or services online, have one obvious perpetual goal: to sell more and increase their revenue. Often, the first idea is to draw more visitors to the website. After all, more traffic automatically means more revenue, doesn’t it? However, it’s not quite that simple. High traffic is not necessarily a guarantee for success. The focus should be somewhere else.

 

WHAT IS THE DEFINITION OF TRAFFIC AND CONVERSIONS?

Traffic is an online marketing term to describe the total of all website visits. With web analysis, that number is easy to determine and gives a first clue about how attractive an advertiser’s website actually is.

Conversions are only part of the traffic. In online marketing, a conversion means turning the visitor of a website into a registered user or customer. The kind of conversion depends on the goals of the website operator. It can be the download of an e-book or catalog or the sale in an online store.

All you need to know about Marketing Attribution

 

MORE TRAFFIC DOESN'T ALWAYS MEAN MORE REVENUE

To increase revenues, it’s not enough to increase the traffic. Because traffic doesn’t necessarily mean more revenue. On the contrary, the wrong kind of traffic, leads to a higher bounce rate.

The more users visit the website, but don’t complete the conversion, the more the conversion rate sinks. While there is an increase in visits, the average of visitors who actually become customers decreases.

There are many reasons why traffic may increase but the conversion rate doesn’t. Maybe the content didn’t match the search requests that caused the traffic. Or the content is too hard to understand or it deals with something that has nothing to do with the product that is being sold. The content of a website can also create a false impression that puts visitors off. In any of these cases, there is traffic, but it doesn’t increase the conversion rate.

 

FOCUS ON THE CONVERSION RATE

Don’t accumulate more traffic, but the right kind of traffic.

To turn traffic into more conversions, this traffic needs to consist of selected visitors – i.e. ones who are truly interested in the product. If these visitors are then taken to pages that are optimized for lead generation, it’s much more likely that visitors become customers or at least potential customers.

 

SMALL CHANGES CAN LEAD TO BIG SUCCESS

A conversion optimization is easy to do and can be extremely effective.

A lot of small changes in the website or online marketing can have surprising results. Not every modification works the same for every advertiser or every website. It’s important to test each change one by one, and to ultimately work with those that increase the conversion rate.

One measure in online marketing advertisers need to check is SEA. If there are keywords that create a lot of traffic but fail to convert visitors into customers, these keywords should be dropped. In this case, the advertiser pays for irrelevant traffic. They should much rather focus on keywords that actually generate conversions. An attribution tool can provide necessary insights advertisers need to evaluate SEA measures down to keyword level and optimize them accordingly.

Besides SEA optimization, there are numerous onsite measures an advertiser should check to improve the user experience on the website. The checkout process, for instance, can be too long or complicated and customers could be lost before they complete their purchase. Customers, for instance, could be offered to create a user account after the checkout process.

Even certain types of content have a greater impact on conversions. Video content, for instance, leads to a higher conversion rate than pure text. Advertisers can upload tutorial videos to share relevant content with their visitors.

 

MEASURING SUCCESS WITH THE RIGHT TECHNOLOGY

To understand which advertising measures are actually effective and which changes on the website led to conversions, requires the right techniques and technologies. It is not enough to know the total amount of visitors or page impressions. Advertisers need to see exactly where visitors came from, what they do when they get to the website, and at which point of the conversion funnel they leave again. Attribution can answer the first question by measuring which advertising measures are successful. At which point visitors leave can be checked with an onsite analysis tool such as A/B testing.

Only those who have detailed information about their visitors can adjust their marketing and their website to increase the conversion rate.

Interview: What are the trending topics around Marketing Attribution?

14. 05. 2019
Jörn Grunert is a MarTech enthusiast and expert in data-driven marketing attribution. For 6 years, he has been Managing Director at Exactag and is responsible for the strategic orientation of the[...]

4 tips how marketers can keep pace with growing technological innovations

07. 05. 2019
The level of innovation in the technology sector is constantly rising and presents a lot of new challenges to many companies. It is becoming increasingly difficult for marketing managers to keep up[...]

This is how travel brands benefit from marketing attribution

16. 04. 2019
Bookings via traditional travel agencies are declining nowadays. More and more consumers book their holidays online. The internet offers travelers far more opportunities for comparison and they[...]