Many businesses have found that advertising on LinkedIn is an effective approach to reaching and interact with their ideal customers.
However, documenting LinkedIn conversions is essential for evaluating campaign performance and monitoring return on investment, as opposed to simply releasing advertisements and hoping they would work.
To rephrase: how many people who saw your ad took the valuable next step you hoped they would take?
The fundamentals of LinkedIn conversions will be covered in detail today. And we’ll look at the 7 easy actions to take to make sure it’s done correctly the first time around.
First, get the Insight Tag set up.
Installing the Insight Tag is the first and most important step before customizing any conversions. You must add this snippet of code to every page of your website.
LinkedIn generates this bit of code for you automatically, and it’s what allows your campaigns and website to talk to one another. In this way, they can provide information that will help you track sales and evaluate the efficacy of your marketing efforts.
Go to Account Assets – Insight Tag: in your Campaign Manager account.
When you click the button labeled “Install my Insight Tag,” a new window will pop up, including further configuration options for your code.
There are three possibilities, as we can see:
- Putting the tag in place by yourself;
- Informing your web designer of the code;
Another option is to use a tag manager.
LinkedIn will direct you through the next stages based on the choice you select. You can save yourself some time by installing the tag yourself by copying the code below and pasting it where it’s needed.
Copy it and then put it above the concluding HTML body> tag in your website’s global footer. You can now monitor your site’s conversion rate and collect data for retargeting campaigns from any page.
Selecting the second option will have the necessary code sent to your account’s email address, from which you may transfer it to your web developer with ease.
In addition, LinkedIn has provided comprehensive, tag management-specific, step-by-step instructions for implementing a tag manager.
When you have the Insight tag set up on your site, you can:
- Track the amount of LinkedIn users who have converted thanks to your campaign. In the following part, we will examine what this entails in further detail.
- Remarket to LinkedIn users who have already visited your website by collecting their cookies.
- Learn about things like marketing results and user demographics from your website. You’ll be able to examine the outcomes of your efforts and make more informed choices as a result.
You can see what users who click on your LinkedIn advertising and are taken to your website do after they get there with conversion tracking. A conversion is any activity that moves your business forward, such as a purchase, download, crucial page view, or form sign-up.
Problem is, LinkedIn has no idea what you perceive to be a productive move for your company. Someone who downloaded your software, for example. The downloading of a booklet with more details may be the case for some. For someone else, it’s completing an application.
For this reason, it’s helpful to have access to conversions. A conversion is a way to communicate to algorithms the kind of user behavior that you find beneficial for your company. As a result, LinkedIn will consider the user to have “converted” if he takes this action on your site.
One example of a conversion is when a user fills out a form on your website after clicking on your LinkedIn ad and you have specified that this is a worthwhile activity for your business.
What should we do now? It’s dead simple:
Conversion Attribute Configuration Third Step
Our LinkedIn conversions may be set up on your Campaign Manager account under Account Assets -> Conversions. Next, on the screen’s right side, select Create a conversion:
Keep in mind that you could need to construct many conversions, depending on the amount of products you sell and the structure of your website.
To illustrate this point, let’s pretend you run a digital business with three distinct departments: marketing, sales, and customer service. And you want to turn every person who asks about your products into a paying customer (form sign-ups).
If you want to develop separate campaigns for each tool, each with its own landing page and sign up form, you’ll need to construct three different conversions.
If you are using a single sign-up form across many products and landing pages, you will only need to configure it once.
Ultimately, the amount of LinkedIn conversions you’ll need to set up will be determined by the variety of your campaign’s aims and the level of granularity you intend to apply to your targeting (in terms of end URL).
Don’t worry though, because setting up a conversion is a breeze.
You may recall that we last left the configuration at “Create a conversion,” so let’s head back there now.
Giving your transformation a name is the first step. Make sure it stands out so you won’t accidentally use it again if you decide to set up other transformations. Especially if you’re selling a variety of items.
I tried to be specific by including features like these in the example:
- Email marketing service type
- The nature of the offer (a free demo),
- In addition to the year of the conversion’s inception (2020).
Since every business and product is unique and requires certain adjustments, it is up to you to determine which specifics to add.
After deciding what you want people to do when they click your ad, you may move on to the next stage. This action could be anything from making a purchase to downloading a file to filling out a registration form.
Fourth, learn the importance of the conversion
The next step in setting up our LinkedIn conversions is to provide a rough estimate of how much money you expect a conversion to bring in for your company.
Simply put, what does this entail? For the sake of argument, let’s pretend you run an Email Marketing business and charge clients 100 € per month for access to your service.
You can estimate 2400€ in earnings during the “lifespan” of the average user, which we’ll assume to be 24 months.
Client lifetime value is the total amount of money a customer is expected to spend with your company over the course of their lifetime.
In other words, adding a monetary value to your conversion signifies that this is the money that you are anticipating to gain from a user if he converted from your LinkedIn ad.
Let’s simplify things by imagining that you are Microsoft and that you are offering a license for Windows 10 at the price of 139 euros (non-recurring).
If a consumer clicks on your LinkedIn ad and then goes on to buy Windows 10, you can expect to make a profit of 139 Euros per sale. So, if you were to put a dollar figure on your exchange, you could say it was 139 euros. Although this step is optional, I highly recommend it because it allows you to have better control over your Costs per conversion.
Obviously, you are not earning a profit if it costs you €150 to achieve a conversion but only nets you €139. Therefore, you should either refine your current advertising in an effort to reduce prices or try out different approaches to LinkedIn ads.
Fifth, determine the scope of your conversion.
The next step in customizing LinkedIn conversions is picking a time period in which to do the conversion. The conversion window is the time frame after an ad click within which LinkedIn will register the action as a conversion.
To illustrate, suppose that someone did click on your ad but did not immediately buy. Rather, he bookmarked your homepage for future reference.
Take, for illustration purposes, the hypothetical 928€ purchase of the brand-new iPhone 11 Pro. Users are not likely to make a purchase the same day they read your ad for this high-priced product.
Instead, he spends a week comparing pricing at several online stores before returning to your website to make the buy, convinced that you offer the greatest deal on the iPhone.
If you choose a 30-day conversion window, any LinkedIn user who clicks on your ad and makes a purchase during that time frame will be credited to your ad.
Similarly, Views will account for those who saw your ad but did not click on it.
These are the standard conversion intervals:
- One month of ad views,
- Advertisement impressions last for a week.
That’s why I think it’s so important for you to hold fast to these principles. Any conversions that may have resulted from your ad after the window you set (say, 7 days or 1 day) will not be credited to the ad. And as a result, it won’t be included in any of your reports.
While you could theoretically extend the duration to 90 days, doing so will likely muddle your campaign’s results and increase your cost per conversion. Because you may not be able to tell the difference between new and old LinkedIn conversions if you use the same budget for both.
Sixth, establish an attribution model.
Also, knowing the attribution model inside and out can help you set up your LinkedIn conversions properly from the get-go.
Attribution models were developed to shed light on the path customers follow via your various touchpoints before making a purchase.
What was the last impression that led them to make a purchase from your web page?
Wait while I break this down for you.
Customers today are more likely than ever to revisit a website several times before finally completing a purchase. Or before committing to downloading the pamphlet you’re offering or filling out the registration form on your site. Depending on your company’s needs, the conversion action could be anything.
To rephrase, a consumer will be influenced in numerous ways and through multiple channels before making a purchase on your website.
Let’s imagine someone was interested in reading your most recent blog article and visited your social media outlet. Several days later, he interacted with your LinkedIn carousel ad.
He did not end up joining your church, but he did look into your business. The following day, he performed a search on Google, and your ad popped up.
He went through with the click, visited your website, and completed the conversion action you’d been after.
Awesome! On the other hand, a crucial query arises at this point. How do we attribute this conversion to a specific marketing effort? Were they introduced to your business for the first time through a social media post?
Perhaps the blog post was what finally piqued his curiosity. What do you think of LinkedIn’s Carousel ad format? The ad may have piqued his interest enough to prompt him to search for you online the following day.
In the end, though, he made a purchase after seeing your Google ad. Should Google then get all the glory? If you’re still with me, keep reading! Conversions on LinkedIn, for example, may have been the result of a collaborative effort, making it difficult or even unfair to ascribe them to a specific channel.
Attribution is a difficult concept to grasp, and it becomes exponentially more challenging when offline channels are included.
Someone who took the initiative to dial your company’s number, for example. Or they saw your ad and went to the store themselves. The effectiveness of such efforts is not as readily quantifiable as that of digital media.
As a result, various attribution models have been developed, each taking a somewhat different tack when deciding how much credit to give any given Marketing channel for a given conversion.
Nonetheless, not every advertising platform supports every attribution model. For instance, LinkedIn only allows for two of them (Final touch for each campaign, and Last touch for the last campaign)
If you have numerous LinkedIn campaigns going at once and a user engages with several of them before converting, each campaign will receive credit for the conversion.
If numerous campaigns are active at once and a user engages with several of them before converting, the conversion will be attributed to the last campaign he dealt with because the algorithms will presume that this was the one that ultimately persuaded him to take action.
Simply put, when a user converts, the conversion will be assigned to the campaign they were most recently engaged with.
For example, if a user’s initial engagement with your brand was on LinkedIn (first touch), but their last interaction was with a Google campaign before they converted, the Google campaign will be credited with the sale.
But if the user’s last interaction (final touch) was with a LinkedIn campaign before they converted, that campaign will be given the credit.
With so many options, which one is best for increasing LinkedIn conversions? So, it’s up to you to decide how to proceed here. Select the Last campaign if you have multiple campaigns running at once and need to know for sure which one brought the user to convert.
Select Each campaign, however, to show how individual campaigns contribute to the larger whole.
Next, if you’re interested in adding conversion tracking, you may choose which campaigns to attach it to (this step is completely discretionary).
Do not fret if you have not yet launched any campaigns. You can skip this and just include your LinkedIn conversions when you’re setting up the campaign. Aside from that, the campaign need not be live for the conversion to be added.
Various states such as completed, cancelled, archived, and draft are possible. In no way should that be restricted!
We’re almost done setting up our conversion, but first we need to tell LinkedIn how we’ll be keeping track of it. Two techniques are available:
Insight Tags are used everywhere around the site.
Using the Insight tag that you added to your site in the past is the standard and preferred method.
We didn’t have to do anything else with the code because we did it before. You may set up conversions on LinkedIn by simply picking the option.
Using this method of transformation, you can monitor user behavior on individual web pages.
In most cases, this will be a “Thank you page” or confirmation page that displays once the user does the primary action we flagged during setup.
For instance, filling out a form or completing a transaction.
We know that whenever a user reaches one of our Thank you pages, the Insight Tag will be triggered and the conversion will be recorded because we have it set up previously.
Pasting the URL (or URLs) where you wish to monitor conversions is the next step.
When copying and pasting, you can omit the prefixes “http://” and “https://.” When a visitor types in your URL, they’ll only see “www” if you include it.
Just above the field where you enter your URL, you’ll find a menu with granular settings for monitoring conversion rates.