If you were an active investor, wouldn’t you look at your accounts on a daily basis? Of course you would. You have to know which positions are performing well and which are not, and make portfolio adjustments accordingly. The same principle applies to your Google analytics reports. How can you tell which advertising campaigns are doing well and which are not?
Bounce Rate. The bounce rate tells you which people are getting to your site (probably by accident) and then leaving right away. Why are you wasting time, money and resources on a market that is not interested in your product or what you have to say?
Abandonment. Do you have too many people clicking the “buy now” button and then leaving before they have bought? Analytics can help you find out why they are leaving by letting you test various scenarios. Perhaps a buy without setting up an account feature may help. A lot of people don’t want to go through all that trouble for what may be a one time purchase from this vendor. Google’s Paditrack will let you test various scenarios to find out eliminates the most abandonments.
Conversion rates. If you have ads that are not converting, or are converting poorly in comparison to others, you need to analyze those rates. Similarly to the bounce rate, why are you paying for ads that don’t convert well? Perform a conversion rate analysis at least once a week and start to winnow out low performers and move that budget to higher performers.
Assisted Conversions. This Google Analytics feature allows you to identify assets in an Adword campaign that you may not be using to their full value. Using channel groupings (organic searches, paid advertising, direct, referral and email) you can find segments that are the best or worst performing segments, and re-evaluate the way you weight these segments.
Top Conversion Paths. This report allows you to break down your traffic into conversion “paths”, and lets you see which are converting best. It is especially important, since it allows you to segregate which paths are getting less conversion simply because they get less traffic from those which are getting the traffic, but not the conversions.
Time Lag. Using the same Multi channel funnel that serves to analyze assisted conversions, the time lag report tells you how long it takes for conversions to occur. Does a buyer come in once and buy, or the next day, or even days or weeks later?
Path Length. Now that you have analyzed your conversion paths (#5), you can dig down further and learn the exact series of steps (clicks, channel referrals, etc.) that brought them to a final conversion, and how long it took.
With this incredible amount of finely tuned information, you can follow each visitor and understand why they are converting (or not converting) on your site, and follow up with steps for improvement.
This is a guest post from Bail Bonds Nation which explains the process on finding a good bail bondsman for your state.