One of the most effective and simple ways to measure the performance of the website or manage the ROI is by setting up the conversion goals. To set your conversion goals, you can use a tool like Google Analytics. So, every time a visitor engages with a website, a conversion can be measured.
Why is setting a conversion goal important?
Maira, who offers online assignment help services, says that the key purpose of setting a conversion goal is to keep track of the thresholds or the unique events that could be a milestone for the performance of the website. These conversions should primarily be a measure of the performance of the bottom line of the website.
For instance, if your website had some 500 conversions in March, the marketing person or the webmaster would want the number in April to be higher than 500. If ever, there’s a noted fall in the conversion metrics, then it could be a trigger that something is not right with the navigability, message of the website and external influencers like a drop in the ranking on the search engine, or the user experiences.
Identifiers for conversion
Sophie, who offers online statistics homework help services, says that you can identify the conversion of a website by a multitude of different things depending on what’s important to the respective webmaster or the marketing executive. Thus, on a website, the conversion is determined by the goal of the website. In general terms, a conversion rate can be a purchase, or a visitor subscribing, or a visitor filling the lead form, or a visitor staying on the website longer than a few minutes, or a visitor viewing more than a few pages of the website. Let’s understand this further.
If there’s a website that sells clothing for women, they would measure the conversion either by the number of times a person browsed a product or the actual sales. When a marketer sets a goal to keep a track of the number of times a person visits the checkout page, marketers can keep a tab on the sales. This is a great metric to determine the sales volume over a set time.
Using conversion analysis as a tool for marketing
Marketers can use the conversion analysis as a tool for marketing by following the reverse funnel. If there’s a particular trend that’s leading to conversion, marketers can use this as a way to lure more customers. Marketers should keep track of how the visitors that converted were directed to the final URL that leads to the sale. It can be a great medium to determine the marketing aspects that are triggering sales or conversions.
Hence, marketers can employ more funds into these aspects and deploy the money from the campaigns that aren’t working well. Additionally, marketers can also put a tag on the conversion pixel. It helps keep a tab on the amount of the sale.
For instance, a sale amount could be $30 or $30,000. When the tagging is done, the marketers have an idea as to which visitors are bringing in bigger money. It is also a good means to track their behaviour and referral source before indulging in the purchase. Roxy, who offers online pay for writing papers services, says that even if the agenda of the website isn’t sales, it still has to track the conversion. If you are not tracking conversion results, you wouldn’t even know how far you are to reaching the benchmark.
For instance, for a news site or a blogger, setting conversion is important to know how many people visited the website, or explored it for over 5 minutes, or browsed more than a couple of pages. It is a great metric of engagement that can be shared with advertisers. On the whole, a conversion metric has the potential to measure every marketing objective, goal, or agenda. In short, a conversion goal is a key part of every digital marketing plan.
Setting up the conversion rate for the website
To set the site’s conversion rate, you’ll have to select the conversion optimization data-gathering metrics, as desired. Next, you’ll have to install all these tools on the website. You can find a plethora of tools online. However, you have to decide which ones you like the most.
Primarily, what you’ll need in the initial stage includes:
- A basic analytics tool, such as Google Analytics.
- A tool to measure conversions, such as Mixpanel or Kissmetrics.
- A tool for user interaction, such as CrazyEgg.
Justin, who offers the best machine learning course online, says that after installing the essential tools on your website, you should give it a few days to run. After a few days, you can go back and analyze the data. Having substantial data is better than having no data. You can start with a few extra tools in the beginning so you can strip out a few if they seem unnecessary.
After implementation, you cannot let things be. You have to repeatedly analyze the functionality of the tool to see if they are working as planned. Give requisite attention to metrics, such as:
- Average time spent on the website
- Bounce rate
- Conversion rate
Dig into all these metrics regularly because not every conversion will function in the same fashion.