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Google tag manager (GTM) has come up with a template, to deal with 3rd party codes to track.
Any 3rd Party Partner (including mediasmart’s tracking tool) willing to track anything on a site that uses GTM can now submit their tracking code (in our case, our pixels) and make them available as a template.
Step-by-step
Here's a step-by-step guide

Go to Templates & search mediasmart
Access the menu: Templates
Go to the search gallery and enter “mediasmart”

Select & Add Template to Workspace
Select the mediasmart template
Click on 'Add to workspace'

Triggers
Go to Triggers using the left menu
Create a new trigger.

Firing the trigger (Critical)
Firing the trigger is a critical step.
Fire the trigger on the page visits you want to measure.

Tags
Using the menu, go to Tags.

Create a Tag
Click on "New", to create a new tag, and look for mediasmart again

Add Organization ID
Once added, the template for mediasmart requires your Organization ID.
In the screenshot, you will see:
A field to place the Organization ID.
A field where to add the conversion number to track. You can track up to 5 events or conversions. The event number wanted has already been selected.
A message to use %msxt% macro. As usual, that macro has to be added to the click tracker and should be transferred to the landing page. There are two possibilities depending on the structure of the click URL:
?msxt=%msxt%
&msxt=%msxt%
As a buyer or advertiser, you can use whatever macro placement when dealing with %msxt%. You can use any macro placeholder you want:
my_own_macro_placement=%msxt%
That can be useful in certain cases like when a click tracker can transfer a value to the landing page, and we want that value to be %msxt%

Add Trigger to Tag
The trigger created in step 6 is now to be added to the tag.

Submit Changes
To finish, one needs to submit the workspace's changes so that they are live.