Conversion tracking is a crucial component to marketing strategies that are focused on defined results, as opposed to traffic volume or other KPIs. Conversion tracking is a requirement of important ad platform tools, such as conversion based Bid Strategies and optimizing accounts for conversions.
Summary of concepts within Conversion Tracking:
- Attribution and Attribution Model – the way conversion credit is assigned to various strategies that participated in the conversion.
- Conversion Path – the preceding interactions a user had with a website, landing pages, ads and other interactions that led to a conversion.
- Conversion Funnel – the concept of adapting a marketing strategy and messaging to approach a user differently, based on what level of interest or intent they are presumed to have.
- Click-Through vs View-Through conversion tracking – method by which platforms track a conversion, whether someone clicked an ad or not.
- Conversion Pixel or Conversion Tag – the code installed on a website or on a tag management tool that informs ad platforms about conversion events that occur on a website.