UTM content and UTM term are useful only when they answer a specific question. If they are used as catch-all fields, reports become harder to read.
Use the UTM Builder after deciding the naming rule. Use the Lowercase Converter when old examples mix capitalization.
Use content for placement or creative
Content is best for distinguishing variants inside the same campaign: header link versus footer link, blue button versus text link, or video ad versus static ad.
Use term for paid keyword detail
Term is most useful when a paid search or paid placement workflow needs keyword-level detail. It should not duplicate campaign, source or medium.
Leave fields empty when they add no value
An empty optional field is cleaner than a meaningless value. More parameters do not automatically make analytics better.
Related UTM QA guides
Continue with the other campaign QA checks in this cluster:

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