The new look of Google Analytics has existing online marketers scratching their heads, Google has modified the Analytics dashboard rearranging the standard reports and the order of where to pull website related data. With the inclusion of “Acquisition”, “Behaviour” and “Conversions” standard reporting segments, we will look at how marketers can leverage the latter portion; Conversions.
In it’s simplest form a conversion can be created and recorded for any desired action completed within a site; a newsletter/email signup or a purchase/transaction. There are four sub-sections within the Conversions standard report; Goals, Ecommerce and Multi-Channel Funnels. Marketers can leverage these reports to determine overall sales performance, effectiveness of a website and return on investment.
Goals – This portion of the report provides marketers with insight to any goal that has been created, whether it’s a view of a key page or a sale, we can see the amount of completions, monetary value and total abandonment rate. This can be sorted by both the virtual location of the goal (URL) or by source/medium. There is also a visual aspect to the Goals section, “Funnel Visualization” provides a funnel view with user behaviour as it relates to set Goals and outline volume of traffic, conversion amount and percentage as well as drop offs. This particular view can highlight both efficiencies and inefficiencies within the conversion process.
Ecommerce – For retail or service website Ecommerce reporting can be used to find out what users buy through a website. This view will allow marketers to see information about: Products (Volume/Revenue), Transactions (Revenue/Shipping/ Volume Info) and Time to Purchase (number of days/visits takes to complete transaction). The Ecommerce reporting view can be used to determine effectiveness of marketing initiatives; if sales for a particular product sky rocket after an online marketing push we can learn from the
data and leverage for future initiatives.
Multi-Channel Funnels – Insight to the conversion path users took leading up to a conversion. Both transactions and conversions are credited to the last source the user entered from. A consumer may enter through a paid search campaign but will end up converting returning directly to the site. The MCF allows us to see how many sources the user went through and how much time passed before converting. The reporting view also provides Top Conversion Paths, Time Lag (to convert) and Conversion Path Length.
Thanks for reading.