In the Blackout Battle, CTV Advertising is Still An Oasis
by Isabel Greenfield
4 Min Read
3 Min Read
As marketers evolve their strategies to more effectively advertise their brand or products, there are plenty of metrics used to evaluate the success of their ad campaigns. We are doing a deep dive into the data that every marketer should be tracking.
Conversion rate is a measure of the percentage of users who complete a desired action. This action will vary depending on industry and business, and will possibly even change as a marketer moves from one campaign to the next.
By looking at your performance marketing or demand generation campaign goals, a marketer can better determine the best action to compare against the total number of users. Some examples of conversions that you can measure for both ecommerce and non-ecommerce businesses are purchases, clicks, leads, and downloads.
A higher conversion rate means your marketing efforts are effective and resonate well with your audience. Here’s why it’s so important to track.
Once you have decided on a goal (or three) to track, you can use the formula below to calculate conversion rate. There are a couple of versions of conversion rate formulas out there, but we think this one is the best way to measure success:
Conversion Rate = Clicks or Visits / Conversions
As an example of using this formula, let’s say that 100 people saw your ad and visited your site, and 10 of those users converted. Your campaign’s conversion rate would be 10%. This formula is pretty straightforward, so just make sure you are plugging in the correct data.
Just like anything else involved in measuring your marketing success, determining whether you have an optimal lead conversion rate will depend on your business. The easiest way to know your conversion rate is indicating a successful campaign is by measuring it against past work. To do this, look at your marketing metrics before running a new campaign and use them as a baseline.
For example, let’s say you are a clothing company running an advertising campaign for a new sweater line and want to determine whether your ad campaign is successfully driving conversions. By comparing the new conversion rate to any campaign run in the past, you will get a baseline for measuring the success of your new conversion rate. And if you have no past campaigns to measure or benchmark against, just know that the higher the percentage, the better your campaign is performing.
No matter what business you’re in, we bet we can help improve your conversion rate. Find out how we can help boost your Conversion Rate.
At MNTN, we understand that calculating conversion rates are a fundamental element in crafting a successful marketing strategy. It provides a direct measure of your marketing effectiveness, helping you fine-tune your campaigns, maximize ROI, and ultimately drive business growth.
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