Crunching the numbers
Now that you’ve got Google Analytics running and properly configured on your website, you will start receiving tons of valuable data. However, there’s one thing still unclear – how well does your website convert visitors into customers? In other words, we need to know what the conversion rate is.
That’s where data analysis comes in – and it usually boils down to various reports, such as:
Demographics – age and gender of your visitors
Interests – what they like
Geography – where they are located and what language they use
Devices – what devices your visitors prefer for browsing your website
Number of sessions – basically, that’s your website traffic
Bounce rate – how many visitors leave the website after viewing just 1 page. Needless to say, the lower the better.
Source and channel – where users come from
Entry pages – the first page viewed by a user during a session
Exit pages – the last page viewed by a user during a session before leaving the website
Google Adwords campaign metrics – shows how successful has your ad campaign been so far with metrics like ROI and net profit
Data on social networks – number of transitions, conversion pages, conversions
Shopping – pretty self-explainable
Conversion window – shows how long it takes from the first click to the purchase
Metrics of e-commerce – what products your visitors buy, check average, the efficiency of sales
Multichannel conversions – how a particular source/channel affects sales
The main ways of conversion and conversion funnel analysis – how visitors become customers, how to increase the number of buyers, what the weak points of the sales funnel are
One of the most important metrics of an online business is the conversion rate (all visitors/paying visitors). What is the optimal conversion rate? Well, it all depends on the specific business but the general numbers are as follows:
with lead generation, it should be at least 3% (the average is 5%)
e-commerce websites should have at least 1% (the average is 2%)
Conversion rate can and must be increased but only after the other relevant metrics have been properly collected and analyzed.
Of course, these are not all the metrics out there but they are arguably some of the most important ones. When we take on a project, we compile summary reports that allow you to create a successful marketing strategy for your business.
Below is an image that shows how metrics can be analyzed.
Ready to increase your conversion rate? Only decisions based on cold, hard metrics will deliver you the great results you’ve always wanted. If that’s what you’re after, then you’ve come to the right place!See image