I recently spoke to a friend of mine who is promoting his website on his own, without the assistance of a marketing agency. To my surprise, he was measuring the conversion of app downloads using only one metric, the conversion rate.
⁉ Conversion analysis is much more than just analyzing and optimizing the conversion rate!
Focusing solely on this metric may not provide a complete picture of how visitors are interacting with a website or app. While the conversion rate is an important metric, there are other factors that can influence visitor behavior and ultimately impact conversions.
For example, a business may have a high conversion rate for visitors who add items to their cart, but then abandon the cart before completing the purchase. By measuring only, the conversion rate, the business may not realize that there are issues with the checkout process or shipping costs that are causing visitors to abandon their carts, and they may miss opportunities to optimize the conversion funnel.
😎 Here are common questions for conversion analysis (gently provided by ChatGPT):
✅ What are the primary goals of a website or marketing campaign?
✅ What are the conversion rates for each goal, and how do they compare to industry benchmarks?
✅ Which pages on the website are leading to the most conversions?
✅ Which pages are causing the highest bounce rates or abandonment rates?
✅ How are users engaging with the content, and is it leading to conversions?
✅ What are the most common conversion paths for users, and are there any bottlenecks in the journey?
✅ Which marketing channels are driving the most conversions?
✅ What is the ROI of current marketing campaigns, and are they cost-effective?
✅ Are there any demographic or geographic patterns in conversion rates?
✅ How does the user experience on mobile devices compare to desktop?
✅ What impact are site speed and page load times having on conversions?
✅ How effective are calls-to-action in driving conversions?
✅ What is the impact of social proof, such as customer reviews or ratings, on conversions?
✅ How effective are retargeting or remarketing campaigns in driving conversions?
✅ What impact do seasonal, or holiday trends have on conversion rates?
✅ What is the impact of A/B testing different elements of the website or marketing campaigns on conversions?
✅ What additional improvements or changes could be made to the website or marketing campaigns to drive more conversions and achieve our goals?
😎 The list of questions for defining KPIs can be quite broad, as it depends on the goals and objectives of each specific business. KPIs can vary significantly between different projects, so it is important to develop a custom plan rather than trying to apply a marketing plan written for another company.
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