So, you’re selling something online. Perhaps it’s a product? Perhaps it’s a service? In either case you want to be able to track how your marketing efforts are performing and determine which leads are converting into paying customers.
Many of us nowadays use email marketing to do this. Email marketing is extremely effective and typically generates the largest ROI.
According to a report from Campaign Monitor:
For every $1 spent, email marketing generates $38 in ROI and gives marketers the broadest reach of all the channels available to them. Despite the plethora of tools available to marketers, email marketing is simply the best bet for business growth.
That’s all fine and good, but isn’t it important to *actually* track and measure your email marketing ROI? Of course!
With Drip you can and it’s super easy.
Drip to the rescue
There are three different ways to track conversions with Drip. The option that’s best for you and your business depends on how you’re set up to sell your products online:
- The most common approach is to track visits to a “Thank You” URL. I.e., scenarios where a customer is redirected to a “Thank You” URL after making a purchase.
- The second most common approach is to integrate Drip with your payment provider (e.g., Stripe, SamCart, PayPal, Authorize.net, etc.) Drip’s GUI is intuitive and makes the configuration process simple and painless.
- If you’re not using a “Thank You” URL and Drip isn’t integrated with your payment provider, you can manually track conversions using Drip’s API. Conversions are represented as follows:
"name": "Trial Signup",
Sounds easy enough, right?
Let’s take a look at how tracking conversions works when your customers are redirected to a “Thank You” URL after making a purchase.
How does it work
Within Drip you can easily create and configure your own custom “Conversions.” It’s likely you’ll want to track a collection of conversions for your different products and campaigns. To do this you’ll need to provide the location of your “Thank You” URL and the values of your conversions (i.e., the revenue from your sales and how you want to count them):
If you don’t redirect customers to a “Thank You” URL, you can instead track conversions via Drip’s integration with your payment provider or with their API.
What other relevant data can you capture and evaluate
Along with tracking your conversion rate and proving how much revenue you’re driving with email, Drip has additional reporting features that are more specific and sophisticated. They can help you test and measure your assumptions and ultimately improve your email marketing.
- Conversions by campaigns: This metric shows you the total number of conversions, conversion rate, and the conversion value for a specific campaign.
- Conversions by individual emails: This metric allows you to view conversion data for specific emails and see which individual emails are closing the most sales.
- Conversions by subscriber tags: Drip makes it easy to segment your audience with subscriber tagging. You can tag subscribers by lead source, industry, pages they’ve visited, convent they’ve viewed, products they’ve purchased and links they’ve clicked. Then, you can view conversion data for specific tags and know exactly what types of emails to send to the segments of your customers that are most inclined to buy.
All in all this data gives you an unfair advantage when it comes to your email strategy. Once you start tracking it, it’s only a matter of time before you’ll identify which levers to pull in order to fuel serious growth in your business.
Interested in learning more about how to hack email marketing? Drop us a line. We’d love to chat — firstname.lastname@example.org
P.S. — You might enjoy this article, How email automation will increase your revenue and save you time.