In campaigns using programmatic digital marketing technology, the goal is often clear: to increase conversions and engagement. However, not all conversions are the same. While some companies strive for hard conversions, others aim to increase soft conversions. What exactly are these two different types of conversions and how do they differ? Find out below!
Hard conversions offer a clear measurement of actions taken by target audiences that directly impact business or financial goals. An example of what a hard conversion is included when a product is bought online that leads to sales and revenue. A hard conversion ends with some sort of sale.
Soft conversions offer clear measurements of actions taken by our target audiences that indicate positive lift for a product, brand, or service without an immediate measurement of the impact on financial goals. Examples of what a soft conversion looks like includes increased brand, product, or service affinity, positive social sentiment, increased likes and sharing actions, and increased activity for signing up for company generated emails or newsletters. A soft conversion is often what happens before a hard conversion and is focused on promoting the company or product itself.
While focusing on a hard conversion in essential to reaching your financial goals, soft conversions are also important to promoting and spreading information about your brand. While soft conversions don’t necessarily directly lead to sales, this does not mean their value is any less. By increasing the amount of people who get email newsletters, for example, this means that more people will be potentially purchasing your product in the future. Companies shouldn’t just be focused on hard conversions; rather, there is some use to promoting soft conversions as well. Soft conversions can help you discover campaign dimensions that drive traffic with intent. They may not be converters, but with further exposure to your message, these visitors may buy the product you’re selling or sign up for your service.