GTM Analytics

Job to be done

Custom conversion tracking

How to define conversions that mean something, build a funnel that survives scrutiny, and avoid the attribution arguments that waste everyone's time.

Original abstract illustration in the form of a conversion funnel, drawn for this guide

A conversion is any action you would spend money to cause. That definition does more work than it looks, because it rules out most of what gets tracked as a conversion: newsletter signups nobody reads, PDF downloads from people who were never going to buy, and time-on-page thresholds invented to make a chart go up.

This page is about setting up conversion tracking that answers a real question, and about the two places it reliably goes wrong.

Defining conversions worth tracking

Start with one. Whatever the site is for, there is a single action that matters most, and every other conversion is a proxy for it or a step towards it. Define that one first and get it working before adding anything.

Then add the steps leading to it, because a single conversion number tells you whether things are working and nothing about why. A typical set for a software marketing site: reached pricing, started signup, completed signup, still active after seven days. For a shop: viewed product, added to basket, started checkout, completed order.

Give each a plain name, agree it with whoever reads the reports, and resist adding a sixth. Five well-understood conversions used weekly beat thirty nobody can define.

Building a funnel that survives scrutiny

A funnel is a fixed sequence of steps with drop-off measured between them, and its value is entirely in the drop-off. The absolute numbers tell you little; the step where half your people leave tells you where to spend next week.

Two design rules keep funnels honest. Steps must be in a genuine order, not just a list of things you care about, or the percentages mean nothing. And the funnel should span a period long enough for people to complete it: a seven-day funnel on a product with a thirty-day evaluation cycle will show you a catastrophe that is not happening.

One thing worth checking before you buy: funnels are usually a paid-tier feature. Plausible puts them on its £19 Business tier, Absolutely Analytics on its $19 Business tier, Pirsch on Plus at $12, Matomo includes them at every level including free self-hosted, and Fathom does not offer them at all.

Attribution, and why to keep it simple

Attribution is the argument about which touchpoint gets credit when somebody saw a social post, searched your name, clicked an ad and then converted. Whole careers are built on this and most of it is not worth your time.

For most sites, last non-direct click is a perfectly good default, and the honest position is that you cannot untangle the rest without cross-day identity, which a cookieless tool deliberately does not have and a cookie-based tool only has for the subset of visitors who accepted a banner.

If you genuinely need multi-touch attribution modelling across a long consideration cycle, that is Adobe Analytics or Matomo territory, and it is a project with an owner rather than a setting. If you do not, resist. The time goes further into finding the step where half your visitors leave.

Where conversion tracking goes wrong

Counting the same conversion twice. A thank-you page that people refresh, or a fire-on-load event on a page reachable by the back button, inflates everything downstream. Test by converting yourself and refreshing.

Consent loss making the rate look wrong. If your analytics needs a banner, you are measuring conversions among people who accepted tracking and dividing by traffic from the same subset. The rate may be roughly right; the volumes are not, and any comparison with a period before the banner changed is meaningless.

Bot traffic in the denominator. Around a third of raw arrivals at a typical site are automated. If those are counted as visitors but never convert, your conversion rate is understated by roughly the same third, and it will move whenever a crawler discovers you. Tools that filter bots before counting avoid this entirely.

The options, at a glance

Tools covered on this page, ordered by my overall score. Prices read 11 September 2026.
ToolFromFree tierCookiesScore
Absolutely Analytics$9 per monthNo free tier. A 30-day trial of the exact tier you pickedNone, so no consent banner8.9
Plausible Analytics£9 per monthNo, but the community edition is free to self-hostNone, so no consent banner8.0
Pirsch Analytics$6 per monthNo. A 30-day trial, no card requiredNone, so no consent banner7.5
MatomoFree self-hosted; cloud from €22Yes, the entire on-premise productOptional, and it runs cookieless if configured7.0
PostHogFree then usage-basedYes, and it is the most generous on this listYes, by default7.1
Google Analytics 4Free with paid GA360 quotedYes, the standard product is freeYes, so consent is required in the EU and UK4.4

The rest of the field

Absolutely Analytics

8.9/10Privacy-first and cookieless

Goals and conversions on the $9 entry tier, funnels and user journeys plus ecommerce revenue attribution on Business, and bots filtered before counting so the conversion rate denominator is human.

From $9 per month · None, so no consent banner · Full review →

Plausible Analytics

8.0/10Privacy-first and cookieless

Codeless goals, revenue tracking, and funnels plus user journeys on its £19 Business tier. Automatic scroll-depth goals with no code.

From £9 per month · None, so no consent banner · Full review →

Pirsch Analytics

7.5/10Privacy-first and cookieless

Conversion goals on the $6 entry plan and funnels at $12, which is the cheapest funnel on this list.

From $6 per month · None, so no consent banner · Full review →

Matomo

7.0/10Open source and self-hosted

Funnels, user flows and multi-channel conversion attribution, free if you self-host. The most capable attribution here short of Adobe.

From Free self-hosted; cloud from €22 · Optional, and it runs cookieless if configured · Full review →

PostHog

7.1/10Product and event analytics

The right tool if conversions are product events and you want to run experiments against them. Heavy, cookie-setting, and a free tier most teams never exceed.

From Free then usage-based · Yes, by default · Full review →

Google Analytics 4

4.4/10Enterprise suites

Necessary rather than optional if you buy Google Ads, because its conversion signal feeds smart bidding and nothing else can.

From Free with paid GA360 quoted · Yes, so consent is required in the EU and UK · Full review →

Common questions

What is the best conversion tracking platform?

For a website, a cookieless analytics tool with goals on the entry tier and funnels above it covers almost every real requirement. For conversions tied to controlled experiments inside a product, a product analytics platform with feature flags is the right category. If you buy Google Ads, you need GA4 alongside whatever else you run, because its conversion signal feeds smart bidding exclusively.

Why is my conversion rate lower than I expect?

Most often because bot traffic is inflating the denominator. Around a third of raw arrivals at a typical site are automated, and if those are counted as visitors but never convert, your rate is understated by roughly that proportion. Tools that filter bots before counting remove the problem at source.

Do I need multi-touch attribution?

Probably not. Last non-direct click is a good default for most sites, and multi-touch modelling needs cross-day identity that cookieless tools deliberately do not have and cookie-based tools only have for visitors who accepted a banner. If you genuinely need it across a long consideration cycle, Matomo or Adobe Analytics are the tools, and it is a project rather than a setting.

Which analytics tools include funnels?

Matomo at every level including free self-hosted, Pirsch on its $12 Plus tier, Plausible on £19 Business, Absolutely Analytics on $19 Business, and all the product analytics platforms. Fathom offers no funnels at any price.

Related guides

Everything above is my own opinion, formed from published vendor documentation and pricing read on 11 September 2026. There are no affiliate links on this site and no vendor has paid to appear. Corrections welcome.