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A conversion is any customer action that adds value to your business, such as a visit, signup or registration, product view, purchase, or app installation. We track these actions to understand which of your ad placements are leading to business and revenue for your company, and to optimize future campaigns through our platform’s algorithm.
Last week we launched a new Conversions Setup tool, putting more control of the Ad Engine kickoff process in the hands of in-house marketers. Here are some key tips for setting up and making the most of Conversions.
One great feature of Ad Engine’s Conversion Setup is that it provides recommendations on what conversions to track based on your industry vertical. Our suggested conversions (and related conversion events) represent years of measurement, expertise and best practices, and work perfectly for a majority of our clients’ campaigns. Keep in mind, however, that you can (and should) modify the recommended conversion rules to align with your internal analytics.
Two key pieces of information to consider as you do this:
You know your users best. Use what you already know about the patterns of your typical users to make decisions about attribution rules. For example, if you know that your users generally come back and make purchases four days after their first visit, don’t set a three-day attribution window. A seven-day window would make more sense for getting the most out of Ad Engine’s optimization.
Make sure that the attribution rules you set up for your Conversions in Ad Engine match your internal reporting system. For example, if you have a 30-day attribution window, be sure to set up that same 30-day window when configuring your conversions in Ad Engine to help us understand how your users mature and bid accordingly. Another example: If you want to optimize toward unique purchases, then you’ll need to set up your “Purchase” conversion rules to count “once per user” rather than “every time.”
Make sure that the conversions you set up in Ad Engine represent all significant steps in your user flow. Don’t just focus on the “main” conversion at the end (like a purchase); rather, track as many events as you feel are either relevant to optimization of your campaigns, or to your reporting. In Ad Engine, you can optimize for seven specific actions, and use eight more for reporting – use them all!
Two important reasons for this:
Measurement. Tracking the entire conversion funnel will allow you to see how far visitors are getting within your user flow. Identifying where they are falling off will help you pinpoint your “conversion killers.”
Retargeting. Capturing first-time visitors who fail to convert– along with the data on how far they got in your site flow, what products they viewed, etc. – means you can target that audience for re-engagement later, in order to maximize registrations, revenue, or other core campaign goals. According to a Digiday report, 96% of marketers say retargeting is a standard practice in their programs.
The conversions that you set up along the path to your most important conversion (like a purchase or a lead) serve as signals to Nanigans’ optimization engine. They help us understand user behavior so that we can better identify your potential audience.
Whether you’re an eCommerce, gaming or lead generation business, you have distinct goals and targets for social advertising. When conversion events are implemented correctly the first time, we can scale your campaigns and reach your goals much faster. Following these steps will help get your campaigns running smoothly, and will mean less time required of your development team.