A conversion is a conversion right? A customer bought something. An interested party requested more info. Touchdown.
We love to measure the wins, but we all know it’s not that black and white. The people who did convert went through a series of steps to get there, but what were those steps? Were they ones we carefully laid out or are users creating their own pathways?
More importantly, what about the conversions we didn’t get? How many times were we so close and then lost the sale for one reason or another? Finally, what were those reasons and how do we fix the holes that are costing us money?
Measuring conversions is crucial for any online brand. However, simply measuring the final conversion point doesn’t tell the full story for many sites. For example, an ecommerce site generally involves a multi-stage checkout process: placing an item in your cart, entering payment details, reviewing the final order, and deciding to purchase. An event ticketing site or a site promoting class signups may also contain a similar setup.
In the marketing world, we talk about the “funnel,” the sequence of steps a user takes to convert to a qualified lead or sale. On the Google Analytics end, this funnel translates to a sequence of pages the user goes through to complete a conversion. The user may drop off on any page in the process due to poor experience, a slow site, unexpected costs, or other factors influencing the final decision.
According to research by Kissmetrics, 79% of people who experience less than optimal website performance are less likely to return to make a purchase from that site. Analyzing funnel performance helps to identify potential barriers that people may experience on your site.
In this post, we’ll cover how to view and analyze the funnel performance within your Google Analytics account.