Conversion rates (CVR) are the number of visitors to your website that completed a desired goal out of the total number of visitors. On marketing attribution dashboards, you can compare your conversion rates against any other metric, such as ad spend, and look at the results as a scatter plot, a bar graph, or a pie chart.
To track conversion for your website, you can use Google Analytics and set up “Goal Completions,” which will automatically track how many people have taken the desired action.
The goal of your campaign will depend on what kind of end action you want your website visitors to take, such as signing up for newsletters, filling out the contact form, or checking out a product.
Google Analytics and Google Ads use different attribution models and don’t track data in the same way.
Google Analytics uses the Last Non-Direct Click attribution model for its non-multi channel funnel reports, which attributes 100% of the conversion value to the last channel that the customer clicked through from before buying or converting.
On the other hand, Google Ads is built on a Last AdWords Click attribution model, which attributes 100% of the conversion value to the most recent Google Ads ad that a customer clicked before buying or converting.
There’s no one “good” lead conversion rate – it depends on the industry and marketing channel. Based on The Unbounce Conversion Benchmark Report, we created this graph of average conversion rates according to industry:
The higher your conversion rate is, the more effective your online advertising campaign will be. Conversely, the lower your conversion rate, the less competitive your website may be. This can signal the need for you to check other factors, such as product prices.
Conversions are easier said than measured, as they involve multiple circular paths from impressions to clicks to action on different marketing channels. But an attribution dashboard reduces the hassle of having to go into each marketing channel and manually looking at each metric to arrive at conversions data.
Achieving maximum and increased conversion rates requires planning, A/B testing, unique and personalized landing pages, and ongoing attention.
With Adriel’s marketing dashboard, you can visualize conversion rates by customizing an in-depth overview of all your conversions across all marketing channels.
To see what it’s like to analyze campaign performance with ease, head over to your workspace on Adriel and play around with intelligent dashboards powered by cutting-edge ad operations technology.