Final answer:
To capture the full online conversion value of a campaign, you should design your own master conversion table, track and analyze all conversion data, and use multi-touch attribution models to understand the complete customer journey.
Step-by-step explanation:
To capture the full online conversion value of your campaign, it is key to first understand what a conversion is. A conversion is a measurable action that ties directly to your business goals, such as a sale, a sign-up, or another form of lead. The most effective strategy to fully evaluate and improve your conversion value is to employ detailed tracking and analyze all the data associated with user interactions. This comprehensive understanding allows for optimized targeting and better return on investment (ROI).
One of the best practices includes designing and populating your own master conversion table. This customized table can help you track various conversion metrics across different dimensions such as channels, campaigns, and user behaviors. By owning this data, you have the power to analyze it in-depth and make informed decisions to enhance your campaign's performance.
Additionally, employing multi-touch attribution models may provide insight into the full conversion path, rather than relying on last-click attribution which gives all credit to the final touchpoint. By understanding the entire customer journey, you can attribute value to all touchpoints that contributed to the conversion. Utilizing this data can lead to more strategic advertising spending and improved campaign results.