How do you track and optimize for different conversion actions (e.g., form submissions, purchases)?

Tracking and optimizing for different conversion actions (such as form submissions, purchases, or sign-ups) in Bing Ads is critical to understanding how well your campaigns are driving valuable actions. It allows you to fine-tune your strategy, ensuring that your ad spend is aligned with your business goals.

Here's a step-by-step guide to track and optimize for different conversion actions in Bing Ads:

📊 1. Set Up Conversion Tracking in Bing Ads
Before you can track conversions like form submissions or purchases, you need to set up conversion tracking in Bing Ads. This involves creating UET (Universal Event Tracking) tags that track specific actions on your website.

Steps to Set Up Conversion Tracking:
Create a UET Tag:

Go to Tools in your Bing Ads account and select UET tags.

Click Create UET Tag, and name it something relevant (e.g., "Form Submission Tag").

Copy the generated tag.

Install the UET Tag on Your Website:

Place the UET tag on all pages of your website (typically in the footer or header) to track user activity across different pages.

To track specific conversions (like purchases or form submissions), place the UET tag on the conversion confirmation page (e.g., thank you or order confirmation page).

Create a Conversion Action:

After the UET tag is set up, go to Tools > Conversion Tracking in Bing Ads.

Click Create a new conversion goal. Choose the type of conversion (e.g., Purchase, Form Submission, Phone Call).

Define the conversion action by choosing the category, setting the conversion value (if applicable), and selecting the URL or page where the conversion occurs (e.g., "Thank You" page after a form submission or a purchase).

Select the tracking options like counting method (whether you want to count every or just one conversion per click).

🎯 2. Define Your Conversion Goals
Once the UET tag is installed, define clear goals for each type of conversion you want to track.

Common Conversion Actions:
Purchases: Track when a user completes a purchase or makes a transaction.

Tracking: Set up a conversion for a thank you page that appears after the purchase is completed.

Form Submissions: Track when a user submits a form (e.g., contact, lead generation, demo request).

Tracking: Place the UET tag on the confirmation page or use an event-based conversion for form submission completion.

Phone Calls: Track when a phone call is initiated from an ad.

Tracking: Use Call Extensions with conversion tracking for phone-based goals.

Sign-Ups: Track when a user signs up for a newsletter or account.

Tracking: Track the confirmation or thank-you page after the sign-up.

🔄 3. Use UET Tag to Track Different Conversions
Bing Ads allows you to set up multiple conversion goals, so you can track different actions on the same website (such as form submissions, purchases, and sign-ups).

Set Up Multiple Conversions:
For Each Goal: When creating your conversion goals, set specific parameters for each conversion type.

Example 1: Form Submission Goal: Track conversions when users land on the "Thank You" page after form submission.

Example 2: Purchase Goal: Track when users land on the order confirmation page after completing a purchase.

Assign Conversion Value: If applicable, assign different conversion values to each action based on its importance. For instance, a purchase might have a higher value than a form submission.

Track Different Conversion Types: You can track these conversions in Bing Ads and see how each one is performing.

📉 4. Monitor Conversion Data in Bing Ads
After your UET tag and conversion goals are set up, you can monitor the performance of different conversion actions within Bing Ads.

View Conversion Data:
Campaign Performance: In your Campaigns tab, select the columns for Conversions, Conversion Rate, and Cost Per Conversion.

Segment Data: Segment the data by conversion action to evaluate the performance of each goal. For example, you can compare:

Purchases vs. Form Submissions

Form Submissions by Device (Desktop, Mobile)

Conversion Reports: Create custom reports that break down the performance of each conversion action separately, allowing you to see which conversions are generating the most revenue or leads.

🧰 5. Optimize Bids and Budget for Specific Conversions
Once you've identified which conversion actions are driving the most value, you can optimize your campaigns accordingly.

Bid Adjustments for Different Conversion Goals:
Conversion-Based Bidding Strategies:

Enhanced CPC (ECPC): Use ECPC to automatically adjust bids based on the likelihood of conversion, ensuring you're bidding higher for ads likely to result in high-value conversions (like purchases) and lower for less valuable conversions (like form submissions).

Target CPA: Set a Target Cost Per Acquisition (CPA) for each conversion type (e.g., aim to get form submissions at a $5 cost per submission).

Target ROAS: If you're focusing on revenue-driving conversions like purchases, use Target ROAS bidding to optimize your ads for maximum revenue.

Set Custom Bid Modifiers:

Adjust bids based on factors like device, location, and time of day. For example:

If mobile devices drive more form submissions, increase the bid for mobile users.

If certain locations have a higher conversion rate for purchases, increase the bid for those regions.

🧑�💻 6. Use A/B Testing to Optimize Conversions
To improve your conversion rates, you can conduct A/B testing on your ads, landing pages, and calls to action (CTAs).

A/B Testing for Different Conversion Types:
Test Ad Copy: Try different headlines or call-to-action (CTA) texts to see which combination generates more form submissions or purchases.

Test Landing Pages: Create variations of your landing page to see which layout or design leads to higher conversion rates (e.g., purchases or sign-ups).

Test Offers: Experiment with different offers or discounts to see what drives more purchases.

🔄 7. Optimize Landing Pages for Specific Conversions
Optimize your landing pages for the conversion actions you're tracking. Each conversion action should have a tailored landing page that is optimized to drive that specific goal.

For Purchases: Make sure your landing page highlights the product's benefits, offers a clear CTA (e.g., "Buy Now"), and provides easy access to the checkout process.

For Form Submissions: Simplify the form submission process, use clear CTAs (e.g., "Sign Up Now"), and include trust signals (e.g., testimonials, security badges) to encourage users to submit their information.

For Sign-Ups: Highlight the value of signing up (e.g., exclusive offers, free trials) and ensure a seamless registration process.

🔧 8. Implement Custom Conversion Tracking for Events (e.g., Button Clicks)
You can track specific events like button clicks or other actions that lead to conversions using event tracking in Bing Ads.

Setting Up Event Tracking:
Track Specific Actions: Use the UET tag to track actions like clicks on a call-to-action button or interactions with a form field.

Set Up Events: In the UET Tag Manager, set up event goals to capture custom actions, such as when someone clicks a "Download" button or interacts with a live chat feature.

Create Custom Reports: Use Bing Ads' reporting tools to analyze the performance of these event-based conversions separately.

🔄 9. Regularly Review and Adjust Conversion Goals
It's essential to regularly review the performance of your conversion actions and adjust your campaigns accordingly.

Conversion Performance: Track how well your purchases, form submissions, and other goals are performing over time.

Optimize Low-Performing Goals: If a conversion goal (e.g., form submission) has a low conversion rate, test alternative strategies like different ad copy, landing pages, or offers.

Adjust Campaign Budgets: Reallocate budget to the conversion actions that are generating the most value, whether that's purchases or high-quality leads from form submissions.

Conclusion
By carefully setting up conversion tracking in Bing Ads, defining your conversion goals, and continuously optimizing your bidding strategies, ad copy, and landing pages, you can effectively track and optimize for different conversion actions like form submissions and purchases. Regular monitoring and adjustments based on performance data ensure that you're consistently driving the most valuable actions for your business.