Although we do not always realize, every website has a purpose for existing. Some websites are created to sell products and services, while others focus on providing content and information to site visitors. Many websites have more than one purpose, such as increasing prospects and creating valuable content – like our Seer website.
That is why it is extremely important to use Google Analytics goals to assign value to specific actions that only the most relevant users will perform. How? By identifying the Analytics goals that make sense for your business.
Why does your website exist?
Measuring the performance of a website means not only comparing site traffic to benchmarks, but also goals and the value that your goals drive.
However, all websites do not have clear monetary values associated with their goals, so it's harder to understand the real impact of your marketing efforts . Once you have created a goal in Google Analytics, you have the option to assign a goal value.
GOAL VALUE is the dollar amount associated with an action taken by a user on your website.
If you take the time to add values to your goals, you can then measure this statistic against other statistics and dimensions in Google Analytics.
Assigning a value to the purposes of the website
- Measuring Return on Investment – When you have a dollar amount ($) associated with your goals, it's much easier to tell your data against your site's goals.
- Creating Smart Goals – It's easy to get carried away and start doing a LOT of goals for your website – why not! Well, cluttering your data with too many goals can make it hard to understand how your site really works. Goals that are filled too often will inflate your numbers and may not be good measures of the value of your business results.
- Report accurately – Let's say that the number of goals on your site has increased by half from one month to the next. Your first instinct is to assume that it's fine for business. However, what happens if this increase in goals comes from users who subscribe to your newsletter?
These types of actions do not directly generate revenue for your business. By measuring accurately, you can see this statistic as an indicator of higher engagement of blogs rather than a significant increase in conversions.
Calculation of goal values of Google Analytics
Let's imagine that you have a lead generation website and that one of the goals of your site is to fill out a contact form. Completing the form does not directly generate revenue, but it is a step in the process. If the data shows that a lead is accepted 50% of the time, and leads leads an average LTV of $ 1,000, you assign a value of $ 500 to that goal.
… But I still can not calculate the value of the lens
If you are really having trouble calculating a dollar amount for the purposes of your website, you can use the value allocation method by importance.
If one goal of your website is twice as important as another, give it a value of 2 and a value of 1 for it. Although it's not a direct measure of income, it takes into account the goals are more important to generate income for your business!
You can use the value of the goal to measure the performance of your website in terms that everyone can understand: money! Whether it's direct income or hypothetical dollar values attributed to your goals, it's easier to understand the impact of your marketing efforts in dollars rather than the mysterious "achievements of". 39; goals. " Then it is as easy as measuring changes in the value of the goal over time.
Analytics can help you direct users to your site and measure the impact of your efforts to inform your digital strategy.
So, why does your site exist?
Do not hesitate to make a buzz for our team if you have any questions or leave your comments below.