In what can feel like an increasingly ambiguous world of digital marketing, benchmarking and analyzing your efforts is a crucial part of measuring success. Last week, we focused on basic, free website analytics that can help you get to a better performing website. But of course, measuring tools like Google Analytics have capabilities that outpace these basic but key performance indicators.
So in this post, we will be examining 3 advanced website analytics that can help you complete the circle, get a better understanding of your users and ultimately achieve more online marketing success.
1) TRACKING URLS
Google seeks to be an all-in-one solution regarding website and marketing analytics, which is why it offers users the ability to track exactly where particular traffic on your website originated.
The company’s free URL Builder tool enables marketers to tag URLs they use in digital and print campaigns to establish more robust tracking data.
The tool is easy to use, with marketers only having to copy in the URL which they’d like to track along with a few variables that range from general to specific: campaign name, medium, source, and content.
Using these variables, Google Analytics then provides automatic reporting in the ‘Acquisition’ tab, which helps you determine how much traffic a specific marketing campaign or even individual ad brought in.
2) GOAL CONVERSIONS
Measuring traffic that originated from your marketing campaigns is a great start for evaluating your website’s success. But of course, your benchmarking should not stop there. If your users don’t take any action beyond visiting your page, you not any closer to attracting more leads, conversions or new customers. As a result, Google encourages its users to set up goal conversions within its Analytics solution.
These conversions can range widely. From visiting a certain website to events like watching a product video, measuring the number of new email subscribers or contact form completions, Google Analytics can capture it all.
Marketers can set up multiple conversion goals within Google Analytics, enabling them to track a variety of visitor actions. But each conversion goal should be an indicator of a visitor’s interest in your brand and products.
Each conversion aligns with a visitor’s origin as long as it’s tracked by a custom URL, which means you can determine exactly which actions users took after seeing a Facebook ad vs. receiving an email. Setting up goals requires some time, but Google offers a variety of helpful tutorials on the subject. Using these goal conversions, marketers can get a better idea of the success of their individual campaigns and ads.
3) CONVERSION VALUE
But advanced website analytics don’t stop there. Google even goes so far as to allow marketers to set up a goal value with each conversion, which attaches a dollar amounts to the specific actions taken by your visitors.
If that sounds confusing, bear with me.
Think of it this way: if you run an e-commerce website, you can make a goal conversion the purchase of a specific product. Google Analytics allows you to then enter the price of that product, which means you can track your sales (and your sales originating from a specific ad or referral source) directly within Google Analytics.
Of course, not all conversions are directly sales-related, so much of their value comes down to estimates. But these estimates can still be remarkably helpful: if, for example, you determine that an average of 5% of your website visitors become customers, and your average customer is worth $50,000, then the conversion goal attached to filling out the contact form should be $500 x 5% = $2,500. That is, of course, assuming that it takes 20 visitors filling out the contact form in order to convert a lead into a customer.
Setting up conversion values within Google Analytics can be incredibly valuable. By allowing you to attach dollar amount estimates to each visitor action, the solution allows you to calculate the exact return on investment for your individual ads.
Let’s say you spend $1,000 on a Facebook campaign. Google Analytics can help you predict how much revenue the ad will generate earlier so that you can evaluate whether or not you should sink more resources into a particular ad.
Using website analytics services like Google Analytics can be confusing at first, particularly if you are looking to track more advanced metrics like Goal Conversions and Conversion Value. But at the same time, the results and actionable insights you get from these analytics are well worth the effort.
To learn more about website analytics, and how to set them up to benefit your business, feel free to drop a comment below or shoot us an email.