[Analytics Tips] Do You Know Your Numbers?

Discussion in 'Making Money' started by bojana, Dec 6, 2017.

  1. bojana

    bojana Jr. VIP Jr. VIP

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    Is the most wonderful time of the year… when you're burning your advertising budget like there’s no tomorrow. And majority rely on FB/Adwords stats only, which almost makes me cry at night! (I’m a woman after all! :D)

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    I spent last years as e-commerce marketing manager, spending a ton of money on FB/Adwords and found a new passion - CRO (conversion rate optimization).

    After analyzing xxx sites, I've realized that less than 10% of website/shop owners know their numbers or test anything. Majority focus their time and money on SEO, paid traffic, ... but there is no focus on how quickly can they boost their sales and grow their revenue with traffic that they already have.

    That’s why i'm gonna try to help you improve your conversions, show you which analytics stats are important, and what you should check daily. Tips will be straightforward and mostly for webshop owners.


    Let's go back to the most important question… Do you know your numbers?
    What does your Google Analytics stats tell you?


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    Part 1


    #1 What's your conversion rate, average order value (AOV), transactions, revenue?
    You can find this in Analytics under: Conversions > Ecommerce > Overview

    If your conversion rate is around 1% (for webshop), I hope your AOV and profit is high otherwise I'm not sure how can you survive in this industry. I’ll make a separate thread with conversion tips so that you can improve CVR.

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    #2 What's your main traffic source (Facebook, AdWords, media buy, organic search, direct traffic, newsletter, ...)? What conversion rate does each source have?
    You can find this in Analytics under: Acquisition > All Traffic > Source/Medium

    Now you know your best-converting source. Push some more traffic and exclude sources that don't convert!

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    #3 Do you have more mobile or desktop traffic? Which converts best?
    You can find this in Analytics under: Audience > Mobile > Overview

    90% of webshops have more mobile traffic, but desktop traffic converts better. Create remarketing audience in Facebook and AdWords and push some ads for desktop only to collect some 'low hanging fruits.'

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    #4 What is your best-converting state?
    You can find this In Analytics under: Audience > Geo > Location > United States

    What’s your best-converting state? Create Facebook ads with selected states only OR exclude less converting states from targeting.
    ++ use Source/Medium as a Secondary dimension > you will see which source sends you less converting states.

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    #5 Age and gender
    You can find this in Analytics under: Audience > Demographics > Overview > Age/Gender

    What’s your best-converting age group? Create Facebook ads with certain age group OR exclude less converting age group from targeting.
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    #6 UTM tags
    Please, please use UTM tags in your links. This will help you identify your winner's way faster.


    Part 2 will be published in a few days.
     
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  2. nanavlad

    nanavlad Elite Member

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    Nice info and easy to implement
     
  3. IamNRE

    IamNRE Jr. VIP Jr. VIP Premium Member

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  4. TheUnborn

    TheUnborn Elite Member

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    Excellent, thanks
     
  5. fairytail0000

    fairytail0000 Regular Member

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    This is good. Thank you
     
  6. Heiko

    Heiko Jr. VIP Jr. VIP

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    Looks solid. Gonna read this tomorrow in the morning :)
    Thank you!
     
  7. topakins

    topakins Regular Member

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    Can this be applied to, let's say, Amazon affiliate website?
     
  8. bojana

    bojana Jr. VIP Jr. VIP

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    You can track affiliate link clicks with Google Analytics event tracking. Will talk about this setup in the next part.