Google Analytics is arguably one of the most powerful web analytics tools available today. It gives business owners valuable insight into their web activity – who’s visiting their site, where they’re coming from and what they’re doing on the site. Best of all, it’s absolutely free!
Here’s a 10-minute wrap of how to make your Google Analytics actionable:
- Determine KPIs (important metrics for YOUR business!)
Common Business KPIs
- E-commerce: Visits, conversion rate, AOV, revenue
- Saas: Downloads, churn rate, CPA, LTV
- Apps: Downloads, ARPU, LTV, retention rate
- Media: Time spent, average views, shares, comments/post, email subscribes
- Establish normalcy
Triangulate performance with at least 2 historical comparisons:
- % vs sequential – same time just before (today vs. yesterday, this month vs. last month, this week vs. last week)
- % vs last year – same time last year (today vs. this date last year)
- % vs average – average performance (today vs daily average, this month vs monthly average)
- Explore reports
There are four main report segments within Google Analytics:
AUDIENCE: Who is visiting your website?
- Users – How many individual people visited your website?
- Sessions – How many total times did people visit your website?
- Pageviews – How many total pages have been consumed?
- Bounce Rate – What percentage of visits failed to go beyond 1 page?
- New VS. Returning Visits – How many visits came from brand-new people, and how many visits were from people who have visited your site before?
ACQUISITION: How did people reach your website?
Common Source Terminology:
- Direct Traffic – People typed your URL directly into their browser or bookmarked your website.
- Referral Traffic (aka everything else) – People clicked a link from another website to reach you (e.g. Facebook, Twitter, Pinterest, blogs, emails).
- Organic Search – People used a search engine and then clicked a natural search result.
- Paid Search (aka PPC, CPC) – People used a search engine and then clicked a sponsored paid ad.
BEHAVIOUR: What are people doing on your website?
CONVERSION: Are people doing what I ask them to do?
Common Goal Terminology:
- Goals – Set up a discrete customer action that you want to track (e.g. joining a newsletter)
- Ecommerce Conversions – How many people made a purchase
- Conversion Rate – What percentage of visits led to the outcome?
- Average Order Value – The average purchase price per transaction. “How much does each customer spend per order?”
- Compare & Contrast
Investigate your data and challenge your results. If something looks uncharacteristic, investigate your data and find the problem source. Use this data to make informed decisions about the best investment opportunities for your business.
Now It’s Google Analytics Time!