Google Analytics helps website owners and web store runners to better optimize their websites or even increase the number of customers and their revenue.
The Google Analytics platform makes it easy to see how well a website is doing and helps the owners of the website to optimize its content to increase interaction and success!
However, in order to see the distinct benefits of Google Analytics, the user needs to understand how best to utilize its many tools, and how to understand the multitude of data sets that it provides!
Are you currently confused as to what the term “Conversion Rate” refers to? Perhaps you want to even improve the conversion rate of your own website?
Regardless, you should definitely read on down below to find out the answers to all of your questions, because we have exactly the answers you have been looking for!
What Is Conversion Rate In Google Analytics?
Google Analytics makes it easy to see how users are interacting with your website, and the kinds of journeys they go on as they explore the website.
This means that you can also use it to track how often users of a web store go from being potential customers to paying customers.
Within Google Analytics, the conversion rate can be calculated by the number of people that are clicking on ads for your website, or by the number of people that are looking at a product on your website before then becoming paying customers.
Conversion rates are automatically calculated by Google, saving you a lot of time and trouble, and this is done by taking the number of customer conversions, and then dividing that number by the number of people that have interacted with your website, whether from ads or not.
Why Is It Beneficial To Know Your Conversion Rate In Google Analytics?
Knowing your conversion rate via Google Analytics is incredibly beneficial as it can help you to improve the efficiency of your sales pipelines.
Sales pipelines refer to the journey that potential customers go through in order to go from being potential customers to paying customers.
The pipeline starts with your potential customer becoming aware of a product, most likely through an ad, and then becoming more and more interested in the product before they consider buying it.
The most crucial and difficult part of the sales pipeline is the decision phase in which the potential customer makes the decision to pay for the product, and this is where many online businesses find that they are failing.
Knowing your conversion rates will help you to understand what might be coercing potential customers to give up on purchasing a specific product so that you can help to incentivize them to confirm their purchases and become paying customers.
Knowing your conversion rate is also crucial for helping you to save money in the long run.
Google Analytics allows you to easily track the success of an advertising campaign on your website, and to see how many people clicking on ads for your products or services are then converting into paying customers.
If you notice, after a long period, that a certain advertising campaign is proving less successful than a prior advertising campaign, then you can easily pull the plug and improve the campaign to help to improve the conversion rate.
This helps to stop you from spending massive amounts of money on advertising campaigns that don’t return a profit.
How Do You Improve The Conversion Rate On Your Website?
Have you taken a look at the conversion rate on Google Analytics, and now you want to improve it? Luckily, this is quite easy to do!
Generally, what you want to focus on is ensuring that the user experience of your web store is as simple as possible.
There should be few obstructions and distractions that stand between a potential customer from taking a look at a product and then confirming their purchase of it.
If you fill your website with pop-ups, unnecessary information, and loads of distractions then not only will potential customers be kept from confirming purchases, but they will also find that the website slows down, as a result of being overloaded, making it more frustrating to use.
As soon as a potential customer adds an item to their basket, you should then ensure that there are as few steps between that action and confirming their purchase as possible so that they do not have time to second-guess the purchase.
You may also want to focus your efforts on increasing the perceived value of the product or service you are offering.
This will entice customers that are at the awareness end of the conversion pipeline and that are also on the cusp of becoming paying customers.
In order to entice purchases of your products, you should aim to add reviews and testimonials to the page that advertises the product.
This helps to not only prove that the product is a worthwhile purchase, but also that it is a legitimate product. This increases confidence in your brand, which helps to lessen hesitation on the part of the customer.
You can also add live chat services to your web store that allow potential customers to get into direct contact with a representative of your brand in order to discuss the product and have their questions answered.
Once again, this is beneficial because it allows potential customers to minimize their hesitation, which in turn leads to more confident purchases.
The conversion rate within Google Analytics refers to the rate at which visitors to your web store go from being simply potential customers that are aware of your products to paying customers.
Google automatically calculates the conversion rate based on the number of successful purchases, which is then divided by the number of users that had visited your web store.
It is very beneficial to know your conversion rate, as it helps you to maximize your profits and see your online business safely into the future!