Post by lizaseo11 on Nov 9, 2024 2:23:16 GMT -5
One of the main indicators in marketing is ROMI, also known as return on investment in advertising, and it is critically important to correctly calculate your income from online sales. On the one hand, entrepreneurs agree with this, but on the other, many are satisfied with the “approximate” accuracy of its calculation, not noticing how an “insignificant error” at best deprives them of part of their earnings, and at worst leads to losses.
Web analytics currently has many tools available to improve the accuracy of this calculation. But for some reason, many people forget about them.
What are the main mistakes in setting up web analytics that can be fatal for a business?
E-commerce is not tracked
In 2017, in about half of the cases, agencies still have to set up revenue tracking themselves, even for long-standing online stores. And if only this were compensated by a quality connection to the CRM, but more often than not, their owners simply do not know how much money each promotion channel brings them, and whether it brings it at all.
No call tracking.
Let's assume that on average shopify website design 50% of our orders come through the shopping cart, and another 50% through calls. And the latter are not tracked. According to our calculations, without calls, promotion channel A gives a profitability of 50%, and channel B - 200%, and the first does not suit us at all. We turn off channel A, without ever finding out that together with orders from calls, its profitability was 300%. Money is lost.
There is no connection between web analytics and CRM
Some people think that web analytics should end on the "thank you for your order" page. This is possible if the customer pays for their purchase when placing the order. Otherwise, we tracked the nominal money, but not the real money - the customer can still refuse and the order amount will turn into 0.
In order to take into account the real expenses and income from each of the promotion channels, it is necessary to clearly understand in numbers how much real, not nominal money, clients brought from each advertising channel. Otherwise, you can be sure that advertising is going well, but in fact, approach bankruptcy.
The interaction of promotion channels is not taken into account
The phrase “multi-channel funnels” can be downright scary. Most website owners rely on one of two standard attribution models: either the first channel gets all the credit, or the last channel gets all the credit.
At the same time, if the user makes a decision not in one visit, the entrepreneur loses sight of the entire chain. The understanding of the contribution of each participating promotion channel to the final purchase is lost. To avoid this, it is necessary to use more advanced attribution models.
Intermediate steps of clients are not tracked
It is critical to know how many customers you are losing at each stage of the sale: how many go to the basket, how many of them place an order, how many confirm it. Sometimes such tracking helps to understand that the problem is not in the promotion channels, but in the fact that users are scared off by a certain stage of the purchase.
No testing or optimization is performed
Analytical data is not a sentence, but a guide to action. Systematic testing of your pages, advertising texts, changes in product range, technical features of the site can improve sales several times in two to three months.
Analytics is not configured at all
It's hard to believe that there are still commercial sites without any tracking of metrics, but they are there. No explanation needed, I suppose.
Whatever means you have, whether you keep track of clients and calls in a professional CRM system or with a pen and a notebook – competent web analytics setup is possible for you, and it can give you a fairly objective picture of the financial efficiency of your efforts on the Internet, and help you make the right decisions faster. In the constantly changing conditions of the Ukrainian market, this can become vitally important.
Web analytics currently has many tools available to improve the accuracy of this calculation. But for some reason, many people forget about them.
What are the main mistakes in setting up web analytics that can be fatal for a business?
E-commerce is not tracked
In 2017, in about half of the cases, agencies still have to set up revenue tracking themselves, even for long-standing online stores. And if only this were compensated by a quality connection to the CRM, but more often than not, their owners simply do not know how much money each promotion channel brings them, and whether it brings it at all.
No call tracking.
Let's assume that on average shopify website design 50% of our orders come through the shopping cart, and another 50% through calls. And the latter are not tracked. According to our calculations, without calls, promotion channel A gives a profitability of 50%, and channel B - 200%, and the first does not suit us at all. We turn off channel A, without ever finding out that together with orders from calls, its profitability was 300%. Money is lost.
There is no connection between web analytics and CRM
Some people think that web analytics should end on the "thank you for your order" page. This is possible if the customer pays for their purchase when placing the order. Otherwise, we tracked the nominal money, but not the real money - the customer can still refuse and the order amount will turn into 0.
In order to take into account the real expenses and income from each of the promotion channels, it is necessary to clearly understand in numbers how much real, not nominal money, clients brought from each advertising channel. Otherwise, you can be sure that advertising is going well, but in fact, approach bankruptcy.
The interaction of promotion channels is not taken into account
The phrase “multi-channel funnels” can be downright scary. Most website owners rely on one of two standard attribution models: either the first channel gets all the credit, or the last channel gets all the credit.
At the same time, if the user makes a decision not in one visit, the entrepreneur loses sight of the entire chain. The understanding of the contribution of each participating promotion channel to the final purchase is lost. To avoid this, it is necessary to use more advanced attribution models.
Intermediate steps of clients are not tracked
It is critical to know how many customers you are losing at each stage of the sale: how many go to the basket, how many of them place an order, how many confirm it. Sometimes such tracking helps to understand that the problem is not in the promotion channels, but in the fact that users are scared off by a certain stage of the purchase.
No testing or optimization is performed
Analytical data is not a sentence, but a guide to action. Systematic testing of your pages, advertising texts, changes in product range, technical features of the site can improve sales several times in two to three months.
Analytics is not configured at all
It's hard to believe that there are still commercial sites without any tracking of metrics, but they are there. No explanation needed, I suppose.
Whatever means you have, whether you keep track of clients and calls in a professional CRM system or with a pen and a notebook – competent web analytics setup is possible for you, and it can give you a fairly objective picture of the financial efficiency of your efforts on the Internet, and help you make the right decisions faster. In the constantly changing conditions of the Ukrainian market, this can become vitally important.
sleep