Guest Post by Tom Bukevicius, Principal at SCUBE Marketing:
As the first in a series of guest posts, we’re proud to present this article by Tom Bukevicius, a Chicago-area PPC expert and taco aficionado. At SCUBE, he helps clients make the most of their traffic and PPC investment, and in this post, he shares 3 awesome ways you can make the most of your traffic by looking deeper with Google Analytics.
As a Principal at a digital marketing agency, I am exposed to analytics often. There are a lot of metrics to review, but the most important ones are what I call “money metrics.” These metrics cover store revenues, advertising costs, transaction volume, etc.
Google Analytics is an excellent tool to understand how much money your Magento store is generating. Every time I log into Google Analytics I say:
Google Analytics is capable of showing the “money metrics”, but you need to know where to go. Today, I will share three reports that I bet you haven’t used. They will show you:
Channels Report is a very popular report. It will show you the traffic, user behavior and E-Commerce revenue by traffic source. See the screenshot below.
Click for full size
Note that this report doesn’t come like this out of the box. You’ll want to make sure that you have Enhanced Ecommerce integrated with your Magento store. Without it, you will only see traffic and user behavior metrics – forcing you to make wild guesses and making it hard to improve performance.
Why I Love This Report?
I can see the performance of each channel. This allows me to evaluate and direct marketing investment into the channels that perform best. This becomes particularly useful when you start paying for traffic and need to measure the ROI.
How to Find Channels Report
Here is where you can find this report. Channels Reports sits in the Reporting section of Google Analytics. On the left menu, find the Acquisition tab, then navigate to All Traffic, then Channels. See the screenshot below.
If you’ve used the basic features of this report, good. However, there is one caveat, it uses Google’s Default Channel Groupings. If you have many traffic sources, you will lose the accuracy of each channel group.
You can take it to the next level by applying Custom Channel Definitions, which allow you to define your own channels. Here is what it looks like.
Click for full size
You will notice that the channel names are slightly different, and associated metrics are different as well. Every channel is customized and defined based on your needs. Imagine Custom Channel Definitions as a filter with the right information for your Channels Report.
You can create multiple filters if you have different definitions of traffic. To access your definitions use the dropdown menu under Default Channel Grouping and select your custom view.
The example below has two custom channel definitions for two different audiences:
1. Executive view (higher level)
2. Analyst view (more detailed level)
Now that you know where the money comes from, it’s time to dig deeper.
Your buyers are already distracted with an overwhelming amount of information on the internet. On top of that their attention is already divided among multiple devices and channels.
For this reason, you need to accept the reality, track your buyer path to purchase and take steps steer them in the right direction.
Enter the Path Length Report
Path Length report shows you how many interactions your buyers need before they purchase. An example below show that 68% of buyers purchase within one interaction. However, 27% need between 2 and 4 interactions.
This example shows us that we may need to launch retargeting and email follow up sequences to get buyers back to the website.
Click for full size
How to Find Path Length Report
On the left menu, find Conversions tab, open Multi-Channel Funnels section, then navigate to Path Length. See the screenshot below.
Once you know how to navigate the Path Length Report, you can go deeper to understand your buyers. You can apply conversion segments based on traffic source of the first or last touch point, time lag and path length.
In addition, you can customize a lookback window. Lookback window is important because it reflects your user buying cycle and sets the time period for attributing revenue to traffic sources. See the screenshot below for customizing your Path Length report.
Click for full size
Now you know how to track your buyer path to purchase, it’s time to take a look at where they get stuck during purchase.
Your checkout process may have barriers to purchase. Buyers can get stuck like this puppy, and you may not even know about it.
This report gives you a snapshot of the steps in your checkout process. The neat thing about it is you see a clear progression with specific areas where buyers drop off. See example below.
This report helps you to problem solve the barriers your checkout process creates for the users.
In the example above, you can see that 47% of the buyers drop off after we ask them for their contact info. This begs a question if we ask for too much information, if the form has errors, if the call to action button isn’t clear, etc.
Another step from the example is the Payment step with a 52% drop off rate. Based on this data, we can start the analysis and forming hypotheses on potential problem areas of this step.
How to Find Checkout Behavior Analysis Report
On the left menu, find Conversions tab, open E-Commerce section, then Shopping Analysis, and finally Checkout Behavior.
Once you see the snapshot of your checkout funnel, it’s time to go granular to other dimensions, because some of the answers can exist there. By default, Checkout Behavior Analysis report breaks the traffic down into new and returning visitors. Which is great. However, you can drill down into other insightful dimensions such as:
All of these dimensions and their subcategories enable you to identify opportunities for improvement. In addition, you can switch between completed and abandoned visits within each dimension.
Click for full size
Hopefully, by this time, the “Show Me The Money” reports and their customizations will make your Google Analytics experience more insightful. Now you can log into Google Analytics and say show me:
The insights you will generate will be useful. But don’t stop there. Dig deeper into reports, take action based on the insights, and reap the rewards.
I was just looking over our emails and adding up how much time you guys have taken to get me squared away with my new eboundhost account. I can't tell you what a relief it is to have fast, dependable hosting and the kind of immediate support I've gotten from you, after having struggled with a sub-standard host for years. eboundhost has, in the short time I've been with you, already saved me hundreds of dollars of billable time. My thanks.
eBoundHost.com has the best customer service in ANY industry. Their support staff answers phone calls and emails immediately and they have time and time again gone over and above their responsibilities to make sure I am taken care of and that my clients are happy. I have many websites hosted here from small business to corporate level and have dealt with many hosting companies in the industry and eBoundHost.com is by far the BEST hosting provider there is. Great prices, great service, great hosting packages, and a killer reseller program! THANK YOU AGAIN :)
Every time I call with a problem or question, Everyone, especially Denis has always stepped up to the occasion. As usual he solved yet another problem I had. You have a superlative customer service. It doesn't get any better. Keep it up guys.
Every time I have contacted my host provider. They have responded with speed, courtesy and accuracy they are professional and a joy to work with.
I came to eBoundHost after a very bad experience with a so called "big boy" - you know one of those places you are only a number. I have been a satisfied customer for more than 4 years now. The support is second to none.
eBoundHost provides the very best service I've experienced in hosting. It takes less than 24h to get an answer to any question. They're great.
From using your hosting services for dozens of web clients and appreciating your wonderful customer service (all the while enjoying spending my meaty affiliate checks), I look forward to growing with you and watching you evolve surely and steadily into a powerhouse of a force to be reckoned with for your competitors. In an overcrowded abyss of hosting providers it is an absolute MUST to stand out above the crowd if you want to claim your stake and play with the big boys. Period. All I can say is this...Look Out World - GAME ON!!!
SUPER SUPPORT - even during "off hours" - Sundays & holidays. Responses have always been within minutes of the initial call or email. The BEST vendor I have ever used in my 10 plus years as a webhosting services consumer.
Fast, reliable, full of features... Over the years, I have used more than a dozen hosts, both the big ones and smaller ones; eBoundHost.com is by far my favorite.
Over the years, I've dealt with many companies. None come close to equaling the service and price offered by eBoundHost.
eBoundHost is really the best hosting service in today's marketplace. Fast and efficient customer service with excellent IT knowledge. Good price and many bundled extra options. Highly recommended!
We at Alico have 4 domain names which we started subscribing at eBoundHost since more than 4 years. In brief they are the best webhosting provider with a sexy Control Panel and perfect fast response support.
I have been a customer since December of 2001, and the service has been nothing less than excellent. I would recommend eBoundHost highly.
1) Their technical support people are always available to help with questions. 2)Server and network speed excellent. 3)Everything works great. 4)I highly recommend them!!!Thank you.
Cost, technical support and promptness of return calls are of paramount importance to me since most of my work is done on the road and waiting for a reply is frustrating. eBoundHost has been a pleasure to work with friendly, courteous and professional.