The Conversion Marketing Concept

With the advent of the internet, conversion marketing is very quickly catching up as a concept among marketers to establish and promote their brands over the web sites. Conversion marketing means a form of communicating value to the prospective customer wherein the prospective customer takes the action which is intended by the marketer. When such action is completed it is referred to as "conversion". Hence companies aim at maximizing the conversion rate over the internet. This concept is closely linked to the pay per click concept as the clicking of an ad or a link is also a form of conversion that is sought by the marketer.

The conversion rate is calculated as a percentage of total visitors who actually complete the conversion action as desired. There can be various such actions that may lead to conversion such as downloading an application form, placing an online order, submitting an online query, making payments online, online reservations and bookings, money transfer transaction online, etc. so the conversion action is evaluated in terms of the goal that the marketer wants to achieve and is hence from the company perspective and not the consumer perspective. Similarly conversion is regarded to be successfully only when the marketer's criteria for it has been met. It depends from products to services and their various types. For instance an online travel agency will consider their conversion to be successful only when a customer makes an online trip reservation after he connects to the travel site on clicking a banner ad on a search engine.

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For an online retailer probably a successful conversion may mean placing of an online order for goods after being linked to the product site from some other website For those businesses which are involved in content creation, conversion may refer to subscribing to a newsletter or registering for a quarterly membership and the likes. Hence the conversion criteria vary among different types of businesses and their business objectives. It is important to set the right conversion criteria for correctly analyzing the flow of online business.


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