Decoding the period between a customer’s first interaction with your brand and the time when the actual purchase is made has always been a challenging task for marketers. Having the ability to predict this type of data is the key for brands to better understand their customers, set customer expectations, and forecast each ad dollar’s result.
More and more marketers are becoming capable of making the most out of the purchase decision period as the available platforms are increasingly offering remarketing and conversion tracking options.
This blog will discuss the five simple steps that will help you measure the purchase decision period effectively and build better campaigns.
- Assign a Landing Page to Each Product or Service You Want to Sell
Creating and dedicating an individual landing page for every product or service you want to sell or generate leads for can be done quickly, but it requires a great deal of time. But fortunately, it’s worthwhile. When it comes to building effective landing pages (and decoding the purchase decision period), the key is to avoid overselling or cross-selling. Creating an entirely dedicated product landing page that shuns exits to other products or services will make it easier for you to track it.
- Tracking Pixel
Embed a remarketing tag on your product landing page and ascertain which product or service that tag is linked to. You can either use a tag or make a rule using URLs. Also, build a unique conversion tag and insert it on the confirmation page that displays when a visitor converts to a lead or becomes a customer of that particular product/service. Precise tracking on simple landing pages lets you obtain crystal-clear insights on the purchase decision period.
- Link Your Campaigns Correctly (Account Structure)
Ensure that your account structure is built accurately. Run separate campaigns for each product or service and pin down your branded and competition keywords in different campaigns. Moreover, you can also run individual campaigns based on geography to measure the purchase decision period for consumers situated in various locations.
To ensure maximum accuracy of your measurement, utilize highly targeted keywords, and use as many negative keywords as possible to avoid biased results. Precision and clarity play a crucial role in this.
- Calculate the First Click and the First Conversion
Once your account structure and tagging are up and running, it’s time to measure the period from the first click to the first conversion. You must track if the clicks leading to conversions take place using just PPC or a mix of PPC and Remarketing. Using multiple channels is vital – so, create your campaigns across Search, Social, and Display platforms to ensure you know which media has the most influence on customer decisions.
- Establish Your Prediction Model
Monitor each and every action, along with the timeline of each occurrence. The ultimate goal of measuring the purchase decision period is to enable you to explain to your client how much average time their customer takes to purchase a particular product and at what cost per action (CPA).
Once you and your client have this information, you will be able to predict the Ad Spend more accurately.
Conclusion
The steps to acquiring this crucial data are straightforward, and therefore they must be implemented as early as possible. With this simple procedure, you will be able to improve your decision-making capabilities, sway the creative process, and convert raw data into valuable insights. So go ahead and start building your campaigns by employing these steps. Not only is this really simple to do, but it will also help you reap greater rewards in the future.
Hariom Balhara is an inventive person who has been doing intensive research in particular topics and writing blogs and articles for E Global Soft Solutions. E Global Soft Solutions is a digital marketing, seo, smo, ppc and web development company that comes with massive experiences. We specialize in digital marketing, web designing and development, graphic design, and a lot more.
SOURCE : How to Measure Purchase Decision Period With Paid Advertising
Are your paid search campaigns generating leads but not sales?Are the lack of conversions got you questioning your investment’s worth?If yes, then you’re at the right place!In this blog, we will explore three important considerations if your lead generation campaigns aren’t performing the way they should.Let’s dive into a little depth of these crucial points that you should bear in mind while thinking about your leads and the potential reasons they aren’t converting to sales.1.
Sounds quite obvious, right?Well, some B2B companies still hold on to a very naive mentality that in order to be valid, all leads generated should be prepared to get placed in the sales pipeline instantly.Or else the whole campaign is worth nothing.In their mind, the process should look like this:The visitor clicks the ad > visits the landing page > visitor takes the desired action, i.e., website conversion takes place > sales call is made > the deal is closed.However, what we think is that such a linear process scenario can only possibly occur if a prospect has already made up their mind that they will purchase from your brand.But in such cases, your sales team is not really “selling”; instead, they are only performing as dignified “order takers.”Maybe that’s a little cruel, and in reality, things aren’t that severe.But the harsh truth is that the conversion assets such as webinar signups, case studies, whitepapers, etc., will only result in an immediate sales opportunity if the person has already researched, compared, got a recommendation, spotted you at a trade fair, and so on.Contemplate all the potential conversion points you have within a B2B pay-per-click advertising program.
Some of these conversion points may include – signups for demo or webinars, lead forms, chat sessions, whitepapers, case studies, phone calls, industry reports, and much more.Needless to say, organizations shouldn’t be expecting an immediate sales pipeline opportunity for all of these conversions.No doubt, some of these conversions are certainly going to demonstrate a high level of willingness to purchase (phone call, lead form, etc.
NOT KNOWING THE DIFFERENCE BETWEEN “SALES QUALIFIED LEAD” VS. “MARKETING QUALIFIED LEAD”Even though a huge difference exists between Sales Qualified Lead (SQL) and Marketing Qualified Lead (MQL), most often, teams fail to acknowledge this difference while reviewing their PPC campaign performance.In simple words, with the sales qualified leads, there are high chances of them making a purchase decision shortly because of the following reasons:These leads understand the current situations.They are well aware that it must be changed.They are actively seeking options.They have the intention to make a decision.On the other hand, an MQL is only looking at the moment.
Track your MQLs over timeMonitor all your MQLs over time and see how many of them ultimately mature and convert to sales.However, beware, it might take some time, or it might be super quick.c.
Explore your own and your competitor’s marketing automation experience just the way a prospect wouldThe majority of PPC managers have very little to no insights into what their post website conversion experience looks like for a potential customer.But you must understand it.And for that, the best thing to do is go through your own and your competitor’s marketing automation experience.3.
Steven Santarpia Consulting is a digital and internet marketing consulting company providing services to small and medium sized businesses including: SEO, Social Media Marketing, PPC Advertising, Business Development, and more.
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