Increasing Customer Conversion Rates
Written by: Sue LeClaire
If it’s not about how much buzz you create but how much you spend, then it’s imperative that you measure the impact of your campaigns and conversions to justify marketing spend.
The most cost effective way to determine campaign success is through attribution. Attribution is the process of associating a call-to-action with a single or many consumer behavior(s). A comprehensive attribution implementation will track the first time a consumer responds to a call-to-action through all subsequent actions for the lifetime of the customer. The goal is to optimize media spend by quantifying each actionable step in the consumer’s path to purchase resulting in an increased customer conversion rate. A secondary benefit is to increase conversion rates through personalization. According to MarketingSherpa, personalization can increase conversation rates by up to 50%.