8 Steps to Set Up Conversion Tracking and Marketing Attribution

setup marketing attribution and conversion tracking

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As a B2B service provider, it’s imperative to gain clarity on the path that your prospects and clients take so that you can tweak your strategy for continuous growth. It’s also wildly important to have clear systems in place for marketing attribution and conversion tracking, in particular.

There are 8 key steps you will need to take to set up attribution and conversion tracking that’s customized to your clients, which we will cover in this guide:

1. Defining Your Conversion Goals

Before you start to track your conversions, it is very important to know what counts as a conversion for your B2B service. This could be when someone submits a form, signs up, downloads something, starts a chat or books a discovery call.

marketing attribution and conversion tracking goals

Important: “Events” are different from “Conversions”. Especially in the context of Google Analytics 4. Think of events, as engagements that signal lead quality or the warmth of a lead. And instead, think of conversions as those goals that are directly tied to sales (purchase your online course) or very closely related to revenue generating activities (book a discovery call).

Usually, “events” are those actions (or touchpoints) that a website visitor or prospect (user) takes along the customer journey; while, “conversions” are the key and final online actions a user takes just before a sale or, the actual online sale itself.

Note: There are ways to track offline sales, but we’ll leave that discussion for a future blog.

You must define these measurements accurately for good tracking. When you set definite and quantifiable objectives in your analytics system, it creates useful data points that will help you make choices and improve your processes.

2. Choosing the Right Tools and Platforms

marketing attribution and conversion tracking tools

Choosing the right analytics and attribution tracking tools is like picking the compass for your journey. It’s very important to pick tools that are made especially for what B2B services need for the highest chances of success.

Platforms like Google Analytics, Salesforce, and HubSpot have many features that help B2B experts get better insight into their marketing efforts and improve them.

  • Google Analytics: Provides detailed data on website traffic, user behavior, and conversions to identify top-performing channels and optimize campaigns for better ROI. Its customizable reports and real-time monitoring are especially effective for B2B services.
  • Salesforce: Offers a comprehensive customer relationship management (CRM) platform with robust marketing automation capabilities, which is great for tracking leads, nurturing prospects, and measuring campaign effectiveness.
  • HubSpot: Ideal for B2B service providers with a suite of inbound marketing tools, including lead generation, email marketing, and content management, to attract, engage, and delight prospects throughout their buyer journey.

You should think about how well they can integrate with other tools, the kind of reports you can generate, and if they can grow with your business when choosing one.

3. Setting Up Conversion Tracking on Your Website

setting up conversion tracking code

After you know what your goals are and have chosen the right tools, you’ll need a way to track conversions on your site. This involves placing tracking pixels or tags into the structure of your website from your platform of choice.

Here’s an overview of the process:

  1. Identify Conversion Events: Decide which key actions you want to track as conversions on your website (ie form submissions, purchases, sign-ups).
  2. Create Conversion Goals: In Google Analytics, navigate to the Admin panel, select your property, and under “Goals,” click on “+ New Goal” to set up specific conversion objectives. Define the goal type, description, and details.
  3. Generate Tracking Code: Obtain the tracking code or pixel/tag for each conversion event from the respective platform (i.e. Google Analytics or Facebook Business Manager).
  4. Place Tracking Code: Insert the tracking code into the appropriate sections of your website’s HTML. Your Google Analytics tracking code should be placed in the <head> section of your site’s pages. You can also use a tag manager like Google Tag Manager for easier management.
  5. Test Tracking Implementation: Ensure the tracking codes are correctly installed by visiting your website and performing the conversion actions. Use browser developer tools or browser extensions like Tag Assistant (for Google Analytics) to verify if the tags fire correctly.
  6. Set Up Conversion Attribution: Configure attribution settings in your analytics platform to attribute conversions accurately to the right traffic sources, campaigns, and channels. This may involve adjusting cookie settings or configuring cross-domain tracking if necessary.

After you set up marketing attribution and conversion tracking on your website, you will need to regularly monitor conversion data, optimize campaigns, and continue to test for accuracy and reliability.

In addition to setting up conversion tracking, it’s essential to focus on the small details. Be prepared to test carefully and keep watching the results to make sure that the information gathered is correct and dependable. This will help you create a solid base for making “smarketing” (smart marketing) decisions based on data in the future.

4. Implementing UTM Parameters for Campaign Tracking

utms for conversion tracking

Campaign tracking will allow you to check how well your marketing strategies work on different platforms. UTM parameters are key in tracking performance as they provide detailed information about the results of email campaigns, paid ads, social media projects, and more.

Here are some examples of UTM parameters and what they identify:

  • utm_source: The platform where the traffic came from.
  • utm_content: The type of content in the advertisement (ie an image)
  • utm_term: The keyword associated with the advertising campaign.

It’s advisable to use best practices for naming UTM parameters to ensure clear and actionable data. These include:

  • Using underscores/dashes over spaces.
  • Use terms that accurately describe the medium, source, or campaign.
  • Keep parameters as short as possible while still keeping them unique.

5. Introduction to Marketing Attribution Models and Setup

marketing attribution models

Attribution modeling is very useful for understanding the many interactions that affect conversions during a customer’s journey. From the first to the last click and all parts in between, B2B marketers need to know about different attribution models and their details.

Here’s an overview of marketing attribution models:

  • First-Click: All of the credit (100%) is given to the channel where the user first interacted with or clicked on your content.
  • Last-Click: The last click, or touchpoint, a user interacts with before they become a customer takes the credit for the sale.
  • Linear: Credit is spread evenly between all interactions between a customer and your brand before they make a purchase.
  • Time Decay: The most recent touch point takes almost all of the credit in this time-based model.
  • Position-Based: Position-based, or U-shaped Attribution, gives 40% credit each to the first and last touchpoints, with 20% to everything in between.

6. Integrating CRM and Marketing Automation Tools


To have a complete understanding of the customer’s experience, it is very important to combine CRM and marketing automation systems with your website and offline activities (e.g., offline sales). When these are connected, you can have a unified view of the customer journey and attribute marketing efforts properly.

After you evaluate your existing CRM systems and define your goals to find the most compatible tools, these are the steps for integration:

  1. Establish a structured plan for data mapping.
  2. Configure integration settings to enable bi-directional data synchronization, automated workflows, and real-time updates between CRM, other marketing automation tools, and your digital properties – such as your website, social media accounts, and paid ads account.
  3. Implement lead scoring using lead scoring mechanisms to qualify leads based on the criteria you define.
  4. Use marketing automation features to design automated workflows that trigger targeted actions based on lead interactions and behavior.

7. Regular Review and Optimization of Tracking Setup

marketing attribution and conversion tracking analysis

The path to smarketing is a repeating cycle, requiring ongoing checks and improvements. You should be looking at the data often for conversions and credit given to see what trends or patterns are occurring and find areas you can adjust for higher success.

This is the fun part, you get to see your data come to life – the data will show you which traffic sources are bring you the most ROI, the most leads, and the most sales… to name a few.

You can then modify your monitoring approach by changing the goals for conversion, improving how you assign credit to different marketing efforts, and looking into fresh ways to increase your return on investment.

B2B experts who stay flexible and react quickly to changes in market conditions can keep an advantage over their competitors.

8. Privacy and Compliance

Users do have concerns about keeping their data private in these times, so it’s important to be very careful with how you track who is visiting your website. It’s essential to get to know laws like GDPR and CCPA so that the way you keep track of this information respects your users’ privacy and protects their data properly.

Put in place strong actions like straightforward permission processes and making data anonymous to protect our customers’ information while also following regulations.

Set Up Marketing Attribution and Conversion Tracking

Setting up marketing attribution and conversion tracking for B2B services is a path filled with both difficulties and chances for growth. Start putting the tips from this guide into action now and begin your path toward improving your return on investment.

For custom advice tailored to your business, schedule a consultation with Klever Strategies. We can help you improve your online marketing efforts and boost your B2B services brand with personalized consultancy focused on results.

Disclosure: Some of the links in this article may be affiliate links, which can provide compensation to me at no cost to you if you decide to purchase the product or service. These are products I’ve personally used and stand behind. This site is not intended to provide financial advice and is for entertainment only. You can read our affiliate disclosure in our privacy policy.

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