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Measuring Site Revenue
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Measuring Site Revenue

February 14th, 2012, By

While a website serves a multitude of purposes including brand awareness, driving offline interactions and customer support, it’s a good idea to measure its direct contribution in generating revenues.

 

Defining goals in Google Analytics is the first essential step for measuring site performance. However, Google Analytics enables taking a step beyond conversions by actually measuring revenue, or forecasted revenue.

 

There are two ways to do this:

  1. Goal value
    Each goal can be assigned with a monetary value. Sometimes this value needs to be estimated. E.g. if a lead converts to a customer at 5% rate, and avg. customer value is $100, then the “lead” goal should be given a $5 value.
  2. Ecommerce tracking
    Ecommerce tracking is useful when payments are accepted on the site. This method enables setting the value automatically per each transactions (e.g. according to shopping-cart value). It also allows for tracking specific products, and grouping them by categories.

See video instructions for using and setting up ecommerce tracking.

 

Now we can get answers to question like “Which product produces the highest value via our Facebook page traffic”.
We can also cross this data with other PPC campaigns, searched keywords, A/B tests etc.