How AdWords Estimated Total Conversions Can Improve Your Bottom Line
With the wide use of mobile devices and desktops today, consumers are utilizing multiple devices to make a purchase. For instance, a customer might start searching for a plane ticket from Vancouver to Los Angeles on his iPad and make the actual purchase on his desktop. According to Google, 90% of consumers use multiple devices for activities such as booking a hotel or shopping for electronics.
While multi-device shopping has improved consumers’ shopping experience and convenience, it has unfortunately created impediments for marketers as they can no longer see the whole conversion process. They have a hard time seeing how their digital advertisements drove their audience to their online stores, encourage phone calls, induce app downloads, or purchases.
This is where Estimated Total Conversions, a new AdWords feature, can help. With Estimated Total Conversions, marketers can gain insights on how each device or path has contributed to a sale. They can determine how much a mobile ad has contributed to the final purchase or how their display ad has contributed to an app download. Regardless of what the actual conversion is, Estimated Total Conversions enable marketers to see the entire conversion path more clearly. For instance, according to Google, “when advertisers in the travel industry use AdWords estimated cross-device conversions, they are able to measure 8% more conversions, on average, than they did before. In addition, they can now measure 33% more conversions that originated on a mobile phone and later converted on different device.”
This in turn has helped advertisers determine their marketing performance and assign their budgets to different marketing channels more soundly.
Here are 3 ways Estimated Total Conversions can improve your bottom line:
Examine your desktop and mobile device bidsWith Estimated Total Conversions, you can see how your advertisements contributed to your sales. This will update your AdWords’ ROI and cost-per-acquisition (CPA). If you discover that your CPA has increased after using this new feature, you can boost your ad position and frequency by increasing your bid.
Change your mobile bidsAccording to Mashable, this year’s Cyber Monday mobile revenue increased by 55% compared to last year and now accounts for over 17% of total online sales. This exemplifies the prominence of mobile devices in today’s digital space. By using Estimated Total Conversions, you can determine how much impact your mobile ads have caused on your revenue and see how many consumers have began their purchasing journey through a tablet or smartphone. These insights allow you to decide if you want to adjust your mobile bids.
Use your advertising budgets wiselyEstimated Total Conversions enable you to see a complete view of your AdWords initiatives. If you realize that your actual ROI with the new AdWords conversion feature is higher than what it was previously, you can to allocate more marketing budgets to this marketing channel. After all, as a business, your goal is to optimize your results while minimizing your spending.
With more consumers shopping online and through mobile devices, measuring purchasing journey can be fairly difficult. Thankfully with the advent of Estimated Total Conversions, advertisers can gain grand overview of the purchasing process and see different devices’ attributions. This allows marketer to adjust their marketing budgets accordingly and assign more ad dollars to the most profitable channel.