Say goodbye to vanity metrics: with conversion goals, you can track essential data and steer your actions toward tangible results for your business.
Open rates, clicks, traffic, and visits, the so-called vanity metrics, are no longer the only tool to measure the performance of your marketing and communication strategy. They are not even the most effective.
Today it's time to focus on conversion goals: in this article, we will see what they are and how Magnews allows you to track them effectively.
Vanity metrics are not everything
Vanity metrics are indicators of a site's success and following, such as visit rates, openings of links sent via email, and clicks on a web page. However, the latest trends in marketing are giving these metrics less importance because they do not provide a clear view of the effectiveness of your strategy.
For example, an eCommerce site can attract many visitors but have few users adding products to the cart or completing purchases. Similarly, a non-profit organization can be popular but receive few donations or fail to direct people towards sponsoring a child or signing important petitions.
In any business field, what matters is the conversion, i.e., the tangible result. That's why it is essential to go beyond vanity metrics and focus on conversion goals.
What are conversion goals?
Conversion goals are actions that have real value and a tangible impact on your business.
For example, for an eCommerce site, the conversion can be the purchase, but also adding a product to the cart, starting the checkout process, or downloading a lead magnet.
In the non-profit sector, conversion goals can include signing a petition, a direct donation, or activating child sponsorship.
In the B2B sector, valuable business actions can be signing up for the newsletter, downloading a thematic whitepaper, requesting contact or a product demo, or requesting a quote.
Conversion goals on magnews
Identifying specific goals for each sector and brand is possible and extremely useful. Magnews allows you to do this simply and effectively. With the marketing automation platform, you can set up customized KPIs and track valuable actions performed by your users, tying them to individual communication actions to best evaluate their effectiveness.
Which asset achieved the best results? Which reached the highest conversion rate or generated the most value? With Magnews, monitoring your campaigns or a specific initiative is simple. By setting a goal, you can view conversion rate, number of conversions, total value, and average value from different perspectives: individual assets, contacts, or automated flows. You can also track data by day and time, aggregating information according to your needs, to obtain useful insights to define or correct the company strategy and acquire new customers.
Knowing what works and which actions convert the most allows you to analyze the assets and gain valuable feedback to improve campaigns and encourage users to take the desired action. For example, you might need to improve site usability to optimize the user experience, or modify the tools through which you promote your brand online.
Moreover, Magnews allows you to directly link each communication, automated flow, transactional or onsite message to the generated results, for continuous testing and performance improvement. You can also track micro-goals for a strategy based on an increasingly segmented funnel, attentive to each user's micro-moments. For example, adding a product to the cart can be seen as an important indicator of interest in a product, even before the purchase decision.
Conversion goals on Magnews help you track essential data and make your actions more results-oriented.