In this tutorial I will teach you about what Google Analytics Goals are, and the importance of understanding what a lead is worth to your company so you can track your website ROI.
You can watch this tutorial on YouTube
Do you know how much a lead is worth to your company in actual dollar value? Would you like to implement this into a clear report so you can see how many dollars worth of leads your Internet Marketing activities are bringing to your business. Then you want to understand Google Analytics Goals.
Google Analytics Goals as described by Google:
“A goal is a website page that serve as conversions for your site. Some examples of good conversion goals are:
- A 'thank you' page after a user has submitted information through a form. This can track newsletter signups, email list subscriptions, job application forms, or contact forms.
- A purchase confirmation page or receipt page
- An 'About us' page
- A particular news article10 (End quote)
My description of a Google Analytics Goal:
One of the most important things we need to implement and understand if we are to track the ROI of funds spend on Internet Marketing for a particular website.
Let’s go through an example to help you understand these descriptions.
We’ll take a client of mine www.pooleconstructions.com.au. He is a carpenter who specialises in beautiful timber decks. Leads to him are an important way of growing his small business, and can be worth many thousands of dollars.
On his website we ask people to fill in a contact form, when the submit button is clicked they are taken to a thank you page. Or in Analytics thinking when they fill out a form and give us their contact details and tell us what service they want to talk about, they become a lead and a goal is met. That goal also has a real dollar value attached to it, and hence means profit to the company. How is it worth money? It’s the proven method of X amount of leads means Y amount of jobs. So each lead therefore must have a value.
I calculate what a lead is worth as follows:
Avg Profit per Job / Avg No. Leads to win a job.
I.e. Avg Profit $1000
Takes 10 leads to win ea job on average
So:
$1000 / 10 = $100
A lead is worth $100 profit in this example.
If your average sale is much much higher than this your leads could be worth hundreds or thousands of dollars. Don’t procrastinate, do this now so you can follow through with this tutorial. Keep in mind starting somewhere rough is far better than not starting at all. You can review your figures properly later and change them.
So that’s the theory finished with let’s set up our first goal:
Step by Step Goal Set Up
1. In Analytics Settings click edit to the right of your account name
2. Click +add Goal
3. Name it something appropriate like ‘contact lead’
4. Choose URL Destination
5. Find your thank you page or similar URL and put it in the Goal URL as per the instructions
6. Insert your newly calculated Goal Value
7. Save Goal
8. Add the goal page to your dashboard
9. Review goal value from time to time.
So now that you know what a lead is worth to your company, you have another clear reason to review your analytics regularly. You also have a great indicator to show how well your SEO and other internet marketing campaigns are working. You can test small useability alterations to see if it improves the number of leads you are receiving, and you have a clear reason to justify any increase or decrease in internet marketing spend in getting you more traffic.
Webutation are an Internet Marketing Company specialising in SEO based on the Mornington Peninsula Victoria, Australia working with clients across Melbourne and Australia.
