How to track conversions in Advertiser's dashboard — Step-by-Step Guide

Tracking conversions in the Bitmedia.io dashboard is an important indicator for our advertisers to measure the success of their crypto banner ad campaigns.

Why Do You Need to Track Conversions?

This functionality is necessary for performance advertisers who want to track the target actions of clients from the traffic they purchase. This, in turn, helps the advertiser optimize the purchase of traffic from various sources as efficiently as possible.

For example, my goal for the month is to bring in 100 new clients with a budget of 1000 USD. In my case, a new client means a customer registration on my website. Therefore, the target action is a registration and 1000/100 = 10 USD - this is the maximum price per registration. Knowing these initial data, I set up my advertising campaign on the Bitmedia.io platform, configured the transmission of the Registration type conversion, and started buying traffic from hundreds of different websites. After spending the first 100 USD of my budget, I stopped to analyze the results and see that there is Site A, where registrations cost me an average of 5.4 USD, which suits me because it is below the maximum price of 10 USD per registration.

There is also Site B, which has a lot of registrations, but their average cost is 11 USD, which is slightly more than the maximum acceptable for me, so here I will either leave everything as it is, hoping that cheaper websites on average will allow me to achieve the target 10 USD, or I will reduce my bid by 10-15% to buy less traffic but hit the target, or I will optimize the purchase by countries or browsers and turn off those that knock me out of my goal.

Finally, there is Site C, where the average cost of registration is 18 USD, which is significantly higher than my expectations, and I will simply stop buying from this site. Thus, I complete my first cycle of traffic purchase optimization and launch my advertising campaign for the next 100 USD of my budget, and then I will again and again conduct such optimizations and buy an increasingly narrow, but exclusively the audience I need, and ultimately on my 1000 USD I will get at least 100 new clients.

How to Set Up Conversion Tracking

On the initial screen of your advertising account (Advertiser’s Dashboard), find the Conversions section and click on it:

Advertiser's dashboard conversion section

If you don’t create any conversions in this account, you will see a Create conversion button, which you should click.

Next, we see an empty form for creating a New conversion, which we need to fill out where we specify:

Conversion name - any name for this conversion;
Description - any description or details of this conversion;
Conversion type - choose the type of conversion from 4 available options: Landing view, Registration, Purchase, Custom (if the previous options are not relevant to you);
Target event ID - an arbitrary alphanumeric value of the conversion identifier.

Press the Save button.

Now we see the new conversion that we just created. And we notice that it has a Status Stopped.

How to Activate Conversion Tracking

Click on the toggle switch to the right of the status Stopped.

On the screen with a warning about changing the status, click Yes to activate the conversion.

Now our conversion has an Active status, and we can use it. For this, we need the integration code, which we can find by clicking the Get code button.

On the next screen, we see 3 different codes that can be copied to the clipboard.

We only need two of them. But which exactly?

Firstly, we take the General Code and, according to the recommendation in the information field above, we should integrate it on all pages of our website, after which the client can perform the target conversion action, placing it at the beginning of the <body> section.

Now we need to decide:

If the target action for which we are making this conversion occurs directly on the website, such as registration, then we need to take the next code, the Client Side URL, and insert it on the page immediately after or at the very event of confirmation. Optionally, you can use the existing macro {ConversionValueUSD} and replace it with the numerical value you want to pass to our platform for future optimization convenience;
If the target action can occur later, such as the first deposit or purchase, then we should take the Postback code and integrate it not on our website but on our backend server, initiating it precisely when we have recorded that the target action has indeed occurred. Here you must replace the macro {cookie.bm_click_id} with the value of the click identifier with which the client initially came to you from us (this bm_click_id is contained in each Referrer URL through which clients from our platform come to your website).

Congratulations, the conversion transmission is now successfully set up!

Well, now let's figure out where and how to view the results for these conversions.

General information on all the conversions you have created can be found on the page https://bitmedia.io/app/adv/conversions where you previously created your first conversion. Note: in the Count column, the total number of events for this conversion will be displayed, and in the Amount, $ column, the total amount of values you passed through the macro {ConversionValueUSD} if, of course, you set it up beforehand.
At the level of any advertising group (Ad Group), you will find in the Statistics tab the section Statistics by Source
Here by selecting the type of conversion, you can see in the breakdown by sourceID all analytical indicators, such as Impressions, Clicks, CPC/CPM/CTR, Spent, as well as the number of conversions (Conversion count) and the number of values you passed through the macro {ConversionValueUSD}, if of course, you set it up beforehand.
More detailed information on the conversions of this advertising group can be found in the Conversion logs tab, where additionally the exact time of the conversion, creative, country, operating system, and device type, browser, and IP address of the user will be specified.
And finally, the most useful tool for analyzing conversions in many dimensions is the Reports (Reports) where among the Metrics (Metrics) are the most interesting to us Conversions and Conversions Amount.
If you have any questions regarding conversion tracking settings, don’t hesitate to ask for help from your account manager at Bitmedia.io