To know about your marketing campaigns and channels, you need to track the analytics such as conversions and revenues. These important analytics help you follow the actions taken by users so that you can improvise strategies.
Let’s understand the important analytics such as conversion tracking and revenue mapping. Also, try to understand how to edit the settings, and use different parameters to track email and SMS conversions.
How Does Conversion Tracking Work In NotifyVisitors?
NotifyVisitors enables you to track conversions for your campaigns (Email, SMS, Whatsapp, Push, and so on) by specifying a conversion period. That means you can track conversions within a specific time frame. A conversion usually occurs when a user clicks on the campaign, opens it, and does any action on it.
Note: You can change the timeframe for the conversion period, and therefore, all the conversions occurring within that time frame will be recorded.
For example- If a user clicks an email containing a sales offer on a product and takes action on it, such as placing an order for the product on the same day. The transaction will be recorded as the conversion.
Important Points You Need To Remember While Tracking Conversions:
1. Conversions will only be tracked for the events when a user engages with the campaign, not when he receives it.
2. The conversion period will begin when the user engages with the campaign, and the actions taken on it will be counted as conversions within the specified conversion period.
For example, If you have defined the conversion period, say five days. When you send the email campaign, the user receives the email, opens it and makes a purchase through the email link within 5 days; then, conversions will be counted.
3. The conversion tracking is based on the last-touch attribution model, which means conversions will only be counted for the last email the user opened or clicked on and performed the actions on (placing an order for the product).The priority will be given to the clicks first then opens in case there is no click.
Note: You can view analytics (generated revenue) only for a broader time frame and not for an individual day because one day is not enough to define the revenue generated; you must give a certain amount of time to your campaigns.
Why does NotifyVisitors track conversions like this?
NotifyVisitors provides accurate conversion analytics by calculating the conversions based on data directly from built-in integration or an API. It does not rely on pixel-tracking conversions that could be unreliable. We lets you view all the key metrics across all platforms and not merely the revenue conversions. You can also know the page views on a product page and other performance standards for your marketing channels.
How does NotifyVisitors track clicked events?
Track clicked but not opened mail events: Many times, the email recipient clicks on an email (when they click on the link and the email is not loaded completely) without opening it. In such scenarios, you can include both the filters in your user segments (clicked and opened) to track the users - one who opened the mail and one who clicked and did not. NotifyVisitors track the click events by adding unique tracking information to the URL.
How does email to website tracking work?
You can enable the email to website tracking in NotifyVisitors as it tracks and identifies those individuals with cookies who have browsed through your website after clicking on an email. When the user visits the website through the email campaign link, it can be identified based on browser cookies and the same is used when the user makes any conversion.
Discrepancies between Google Analytics and NotifyVisitors Conversion Tracking:
There are a lot of differences between tracking conversion of Google Analytics and NotifyVisitors. NotifyVisitors uses data directly from the database, whereas Google Analytics employs the method of pixel tracking to track conversions.
1. Google Analytics does not track the subscribers who only read your mail and do not click on the link, but NotifyVisitors does track the subscribers who supposedly received your mail, read it but did not click on the link.
2. The major difference between Google Analytics and NotifyVisitors is tracking analytics within a conversion period. Google Analytics does not entail any conversion period. Also, NotifyVisitors uses the last-touch attribution model, whereas Google Analytics does not.
HOW TO TRACK SMS CONVERSIONS:
Tracking SMS conversions is similar to tracking email conversions by editing and updating the tracking settings. You can set up the tracking of SMS conversions within a specific time frame. When a recipient receives the SMS, clicks on it, and performs any action on it within the defined period. NotifyVisitors will count it as a conversion. The SMS conversion tracking is based on the last-touch attribution model, which means conversions will only be counted for the last SMS interaction of the users with your brand within the conversion period.
After reading you must have understood how NotifyVisitors conversion tracking settings differ from Google Analytics. We suggest you refer to NotifyVisitors conversion analytics as it helps you record every move of the users and subscribers.
What is Revenue Mapping?
Revenue mapping is essential to track the revenue generated from all your campaigns and journeys. It is a simple one-time setup that enables you to draw a correlation between certain user actions and your business’s revenues. To mapout the revenue in NotifyVisitors.
1. Navigate to the NotifyVisitors dashboard> Settings > Revenue mapping.
2. Click on the revenue mapping to define all its variables.
Revenue currency: Select the currency, i.e. INR or Dollars in which you want to set the revenue.
Label: Define the label for the events for later on, identify and clarify the event and whose revenue you want to view or analyze.
Revenue event: Choose the event from the drop-down menu which is triggered when a conversion/sale happens so that the sale attributes can be mapped with the revenue collection.
Revenue attributes: Select the event attribute from the drop-down menu, which contains the sales information such as total amount, source,etc
Conversion deadline: Define a specific time frame until revenues are mapped on an event. That means you can specify a deadline for mapping revenue on any event, after which the revenue mapping will be stopped for the event. You can define it in terms of hours or days.
Note: You can add more events, and their revenue attribute to map out the revenue generated on the specified events. Once you define the variables, click on the SAVE button.
3. To mapout the revenue generated on the specified events.
Navigate to the Dashboard> Real Impact> Revenue to view the total revenue generated on all campaigns, journeys, and channels (push, email & SMS, WhatsApp). Also, you can view the revenue generated from different channels individually.
Note: You can choose the timeframe and the event for which you want to view the revenue key metrics. You can view the graphical data for up to the last 30 days.
Let us define the different variables of REVENUE to make you understand;
Revenue: As you click on the revenue section, you can view the total revenue generated on the chosen event and the total revenue generated via all the campaigns and journeys on that specific event. You can have a date-wise representation for the generated revenue on the chosen event as given below.
Channels: In this section, you can view the revenue generated through individual channels such as push, email, SMS, and WhatsApp.
Campaigns: In the campaigns section, you can view the total revenue generated on a specific push or email campaign. Apart from the total revenue, view the average daily revenue generated by the specific push & email campaign, total orders booked from each push & email campaign, and total paying users.
Journey: In the journey section, you can view the total revenue generated from a specific journey. Apart from the total revenue, you can view the average daily revenue and total order booked on a specific journey.
In this section, you can view the total revenue generated from a specific banner campaign. Apart from the total revenue, you can view the average daily revenue and total order booked on specific banner campaigns.
This is how you can configure conversion tracking and mapout different conversion metrics to understand the performance of the campaign.