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Increasing Profitability with Google Analytics
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Increasing Profitability with Google Analytics

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Introduction to web site analytics and conversions. Presentation walks through how a 1% increase in conversion ratio can equal as much as a 57% increase in profitability.

Introduction to web site analytics and conversions. Presentation walks through how a 1% increase in conversion ratio can equal as much as a 57% increase in profitability.

Published in: Technology, Business

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Transcript

  • 1.  
  • 2. Thanks ThinkHouse Collective!
  • 3. Mike Linville Owner/Chief Project Manager Black Dog Studios Black Dog Education *Self Employed Business Owner for 13 Years
  • 4. What is Web Analytics? The measurement, collection, and reporting of Internet data for the purpose of understanding and optimizing web usage. Web Analytics Association
  • 5. Huh? The key takeaway is that analytics is a process focusing on trends, not absolutes.
  • 6. The Analytics Process Measure Learn Action The goal is to get closer to a perfect process.
  • 7. The Tools
  • 8.  
  • 9. Why Google Analytics?
    • FREE!!!
    • Powerful
    • Works well with other Google tools
      • Adwords, Adsense, Website Optimizer
    • Awesome reporting
    • Simple installation
  • 10. What about Profitability?
  • 11. What about Profitability? “ Widget X” = $100 Production + Fulfillment => $60 Marketing + Profit => $40 [PPC = $0.50 / click]
  • 12. What about Profitability? 2% conversion [1 sale in 50 clicks] “ Widget X” = $100 Production + Fulfillment => $60 Marketing + Profit => $40 [PPC = $0.50 / click]
  • 13. What about Profitability? 2% conversion [1 sale in 50 clicks] $40-$25 = $15 Profit “ Widget X” = $100 Production + Fulfillment => $60 Marketing + Profit => $40 [PPC = $0.50 / click]
  • 14. What about Profitability? 2% conversion [1 sale in 50 clicks] $40-$25 = $15 Profit 3% conversion [1 sale in 33 clicks] “ Widget X” = $100 Production + Fulfillment => $60 Marketing + Profit => $40 [PPC = $0.50 / click]
  • 15. What about Profitability? 2% conversion [1 sale in 50 clicks] $40-$25 = $15 Profit 3% conversion [1 sale in 33 clicks] $40-$16.50 = $23.50 Profit “ Widget X” = $100 Production + Fulfillment => $60 Marketing + Profit => $40 [PPC = $0.50 / click]
  • 16. What about Profitability? 3% conversion [1 sale in 33 clicks] 1% Increase in Conversion Rate = 57% Increase in Profit! “ Widget X” = $100 Production + Fulfillment => $60 Marketing + Profit => $40 [PPC = $0.50 / click]
  • 17. What about Profitability? To Increase Profits… Increase Conversions!
  • 18. 3 Main Goals for a Website
    • Make Sales
    • Generate Leads
    • Build Your Brand
    Analytics works for all three!
  • 19. Crawl > Walk > Run Leveraging analytics for your business is a 3 step process… Basic Usage Goals Sales Funnels
  • 20. I. Basic Usage: Visitors
    • Demographics:
    • Location, Language
    • Behavoir:
    • Frequency, Engagement
    • Technology:
    • Browsers, Operating Systems
  • 21. I. Basic Usage: Traffic Sources
    • Where the traffic to your site is coming from.
    • The keywords being used to find you.
    • Adwords statistics.
  • 22. I. Basic Usage: Content
    • Site Content
    • Site Speed
    • Site Search
  • 23. I. Basic Usage: Events
    • Track a document download.
    • AJAX newsletter sign up.
    • Video Interaction.
  • 24. I. Basic Usage Visitors | Traffic Sources | Content
    • These basic reports are like a physical for the health of your website.
    • Great for pinpointing the problem areas.
    • You’ll want to know more.
  • 25. II. Goals
    • Though basic usage delivers great analytics, it isn’t customizable.
    • Next step is customization and defining what your goal is.
  • 26. II. Goals
    • Easy Setup:
    • Name
    • Type
    • Value [Forecasting]
    • * Max. of 20 goals per profile [4 groups of 5].
  • 27. II. Goals
    • 3 Types of Goals:
    • URL Goal
    • Engagement Goals
    • Event Goals
  • 28. Example #1 URL Goal = Increase Newsletter Sign Ups Sign Up For Our Newsletter
  • 29. Example #1 URL Goal = Increase Newsletter Sign Ups Sign Up For Our Newsletter Thank You and Welcome!
  • 30. Example #2 Engagement Goal = Video Page Landscapers, Inc. Problem: Even though the page load gets tracked Google Analytics can’t tell anything about the video.
  • 31. Example #2 Event Goal = Video Page Landscapers, Inc.
    • Solution:
    • Create a series of events that relate to the video.
    • Player Load
    • Video Start
    • Video Completion
  • 32. Why Goals Are Good
    • Gives you a deeper level of understanding of how users are using your website.
    • Packages the results up into easy-to-read reporting.
  • 33. Example #3 E-Commerce Stores Using PPC, you notice you’re paying for 1000 clicks, but are only making 100 sales.
  • 34. Example #3 E-Commerce Stores To see where the other 900 clicks are going, you need to look at the entire sales process.
  • 35. III. Goals Funnels / Sales Funnels
    • A funnel is a series of pages that lead up to an actual goal.
    • Broader look at the process before the sale.
    • Can have up to 10 steps.
  • 36. III. Goals Funnels / Sales Funnels
  • 37. III. Goals Funnels / Sales Funnels
  • 38. III. Goals Funnels / Sales Funnels After you’ve set up the steps of your goal, Google will create a Funnel Visualization Report.
  • 39. III. Goals Funnels / Sales Funnels
    • This graphical breakdown of the entire process will tell you exactly where your issues are.
    • It is up to you to figure out how to fix them.
    • Default to best practices and test.
  • 40. Website Optimizer
    • How you “fix” the errors you find using Google Analytics.
    • Allows to easily perform A/B testing.
  • 41. Website Optimizer A/B Testing vs. A Original
  • 42. Website Optimizer A/B Testing vs. A B Original New
  • 43. Website Optimizer A/B Testing
    • Install the code and Google will…
    • Split traffic between the pages.
    • Tell which page is the winner [min. 200 conversions].
    • The winner becomes your new baseline, and you test again!
    A B
  • 44. The Wrap
    • Feeling overwhelmed?
    • We covered A LOT, because there’s a lot to Google Analytics.
    • The key is that you don’t have to do it ALL; jump in and get started!
  • 45. The Wrap
    • Remember: a 1% increase in conversion resulted in a 57% increase in profits!
    • What would a 57% increase in profits mean to you, RIGHT NOW?
  • 46. The Wrap
    • With that extra money:
    • Could you hire an employee?
    • Save money for a vacation?
    • Have a date night with your spouse?
    • Take a day off?
  • 47. Any Questions?