Whenever you run a marketing campaign, the very fist thing you should think about is the goal and this goal should be one of the following:
- How much revenue am I generating off this ad campaign?
- How many leads have I generated?
Once this is understood, you need to look at your website and understand if you have at least one of these conversions installed. If you don't there's no reason to run the ad because you will simply be putting money into a black hole with no way of understanding what's working and what's not. Once the conversion event is set-up such as a consumer checkout or a contact us web form, you need to direct the software to redirect to a thank you page. The thank you page will say something like "thanks" for the order or "thanks, we will contact you in 24 hours". This thank you page is called a goal conversion page.
Both Bing and AdWords offer the ability to set up conversion goals. Since AdWords counts for most search advertising, it makes sense to look at setting up conversion goals on AdWords. If you can set it up for AdWords, Bing setup is pretty similar. For AdWords, you log into you account and land on the home page and the process goes like this:
- Click on Reporting and tools and select Conversions
- Click on New Conversion
- A box will appear called name. Here you enter something like "Bought from store" or "Filled out Contact Form"
- Click Save and Continue
- You will now appear on the Settings page
- Choose a conversion type such as Lead or Purchase
- Unless you are doing the code yourself and know what you are doing you can choose other option, otherwise ignore the rest and click save and continue
- You will now appear on the Generate Code page
- If you are going to make the changes yourself then click on "I make changes myself" if you don't manage the website then click on "Someone else makes changes to the code". The first option generates a piece of code for you to install, while second generates the same code but as an email to send your webmaster.
- Install code or have someone install code on your thank you page.
Once you have this conversion code in place you can start tracking different advertisements in Google and Bing and be able to see what give you the most ROI. Knowing this one stat will not only save you money but identify those opportunities that are making the most money for you and seizing them.