How does conversion tracking help real estate advertisers on Bing Ads?

B2B (Business-to-Business) advertisers often have longer sales cycles and more complex buying processes compared to B2C (Business-to-Consumer) advertisers. As a result, effective conversion tracking on Bing Ads for B2B campaigns requires a strategic approach to measure the performance of different touchpoints in the customer journey. Here are some key strategies B2B advertisers can use for effective conversion tracking on Bing Ads:

1. Track Lead Generation and Form Submissions
Lead generation is crucial for B2B campaigns, where conversions often come in the form of contact form submissions or requesting demos.

Conversion tracking should be set up to track these actions, such as contact us forms, free trial sign-ups, or quote requests.

Custom conversion goals can be created to track these specific actions that are aligned with business objectives. For example:

Download white papers

Sign-up for newsletters

Requesting a call back or consultation

2. Track Phone Call Conversions
Many B2B transactions involve direct communication via phone calls, especially in industries where sales teams or account managers engage with prospects personally.

B2B advertisers can use call tracking tools integrated with Bing Ads to track phone call conversions. By setting up call extensions in ads, advertisers can track how many phone calls are generated directly from ad interactions.

Bing Ads also provides offline call tracking, which is important for tracking calls made from mobile ads or click-to-call buttons.

3. Use Offline Conversion Tracking
Since B2B sales often involve offline actions, such as in-person meetings, or follow-up calls, offline conversion tracking can be set up to bridge the gap between online interactions and offline outcomes.

B2B advertisers can upload offline conversion data (like when a lead becomes a sale) back into Bing Ads, attributing those offline conversions to the appropriate ad interactions. This helps provide a more complete picture of the campaign's effectiveness.

Offline conversions could include things like client meetings, product demos, or signed contracts.

4. Use Multi-Stage Conversion Tracking for Long Sales Cycles
B2B campaigns often involve multiple touchpoints across a long sales cycle. Multi-stage conversion tracking helps track the customer's journey from the first ad impression to final purchase.

B2B advertisers can set up different conversion actions for each stage of the sales cycle, such as:

Initial inquiry or website visit

Content downloads (e.g., case studies, eBooks)

Demo requests or consultations

Final purchase or contract signing

This approach helps B2B advertisers understand the full scope of the conversion process and optimize their ads accordingly.

5. Track Engagement Metrics (For Nurturing Leads)
In B2B, conversions may not always be immediate, but engagement metrics like email sign-ups, content downloads, or time spent on specific product pages can indicate interest and future conversions.

Conversion tracking should capture engagement signals that show a lead is progressing through the funnel. For example, downloading an eBook or attending a webinar can be a precursor to a sales conversation and eventual conversion.

Engagement tracking also helps identify the most effective content that nurtures leads and moves them closer to conversion.

6. Use UTM Parameters and Custom Tracking URLs
B2B advertisers often run complex campaigns across multiple channels, including paid ads, organic content, email, and social media.

To track the full performance of a B2B campaign, using UTM parameters and custom tracking URLs helps monitor how traffic from Bing Ads interacts with other marketing efforts.

Advertisers can add UTM parameters to their ad URLs to track the source, medium, campaign name, and other important data in Google Analytics or other CRM tools. This enables B2B advertisers to capture the full journey of their leads and make more informed decisions based on attribution.

7. Optimize for Specific Buyer Personas
B2B advertisers often target specific buyer personas or industries. Conversion tracking can be tailored to measure the effectiveness of ads targeting these personas.

For example, a software company targeting small business owners may have different conversion goals than one targeting enterprise-level clients. Custom audiences and demographic targeting can help track and optimize for the performance of specific buyer segments.

Remarketing is another key strategy. By using conversion tracking data, B2B advertisers can target previous website visitors with tailored ads and content, nudging them further down the funnel.

8. Track Whitepaper or Case Study Downloads
Whitepapers, case studies, and industry reports are common B2B lead magnets. Conversion tracking should be set up to measure how many users are downloading these assets.

By tracking the downloads of these resources, B2B advertisers can measure interest in a particular product or service and identify leads who are in the research phase of the buying journey.

This can help businesses prioritize their outreach efforts and target the most engaged prospects with personalized sales pitches.

9. Measure Cost Per Lead (CPL) and Other Key Metrics
Cost per lead (CPL) is a crucial metric for B2B advertisers, especially those with lead-generation focused campaigns. Conversion tracking allows advertisers to calculate their CPL and assess the efficiency of their campaigns.

In addition to CPL, B2B advertisers should track other key metrics, such as lead quality and conversion rate, to measure the success of their campaigns and improve lead quality over time.

10. Use Custom Conversion Tracking for High-Value Conversions
B2B sales often involve high-value conversions, such as large product orders or contract signings. Advertisers can set up custom conversion tracking to measure these high-value actions specifically.

By tracking high-value actions, B2B advertisers can analyze the effectiveness of ads targeting high-ticket buyers and adjust their campaigns to focus on the most profitable conversions.

11. Utilize Attribution Models to Understand Multi-Touch Conversions
B2B conversions rarely happen with a single click. The customer journey is often multi-touch and involves interactions with multiple ads or channels before a conversion occurs.

Attribution models (like linear attribution, time decay, or position-based attribution) in Bing Ads can help B2B advertisers understand the role of each touchpoint in driving conversions. This can be used to refine bid strategies and allocate budgets to the most impactful touchpoints.

B2B advertisers should experiment with different attribution models to determine which best matches the typical buyer behavior in their industry.

12. Use Conversion Data to Inform Retargeting
Retargeting (remarketing) is a powerful tool for B2B advertisers to reach leads who have previously interacted with their ads but did not convert.

By analyzing conversion tracking data, B2B advertisers can identify which ads and keywords are most successful in retargeting users and which audience segments to focus on in their remarketing efforts.

Retargeting can be used to bring back leads who visited a landing page but did not fill out a form, or to nurture leads that are closer to a decision.

Conclusion
Effective conversion tracking on Bing Ads for B2B advertisers is crucial for understanding the success of their campaigns and optimizing their strategies for lead generation, long sales cycles, and high-value conversions. By implementing strategies such as tracking lead generation actions, using offline conversion tracking, and analyzing multi-stage conversions, B2B advertisers can improve their ad performance and ROI, while aligning their campaigns with their complex buyer journeys.