What is conversion success in SAP CEC-MKT - SAP Marketing?

SAP Term: conversion success

• Component: CEC-MKT

• Component Name: SAP Marketing

• Description: KPI that illustrates the development from leads to opportunities, for example, via the number of converted opportunities including the opportunity revenue, or via the revenue ratio for opportunities generated by marketing-driven leads versus sales-created leads.

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• Key Concepts: 
  Conversion success is a metric used in SAP Marketing Cloud to measure the effectiveness of marketing campaigns. It is calculated by dividing the number of conversions (such as sales or leads) by the total number of impressions or clicks. This metric helps marketers understand how successful their campaigns are in terms of generating conversions.
  
  How to use it: 
  To use conversion success, marketers need to set up tracking for their campaigns. This involves setting up tracking codes on their website or landing pages, as well as setting up tracking parameters in their marketing automation platform. Once tracking is set up, marketers can measure the conversion success of their campaigns by looking at the number of conversions divided by the total number of impressions or clicks.
  
  Tips & Tricks: 
  When measuring conversion success, it is important to consider other factors such as cost per click and cost per acquisition. This will help marketers understand the true cost of their campaigns and make more informed decisions about their marketing strategies. Additionally, it is important to track conversion success over time to identify trends and optimize campaigns for better results.
  
  Related Information: 
  For more information on conversion success and other metrics used in SAP Marketing Cloud, please refer to the official SAP documentation. Additionally, there are many online resources available that provide tips and tricks for optimizing campaigns for better results.