The Most Important Conversion Metrics To Track
There are a number of different ways for any business to increase retention and conversions. However, before doing that it is vital to figure out which metrics you should be trying to improve. Here is a list of some of the most important conversion metrics to track:
1. Traffic Sources: There are three primary sources of incoming traffic. They are direct visitors, search visitors, and referral visitors. Direct visitors are those that visit your site by directly typing your URL into the address bar. Search visitors are those that visit your site based on a search query. Referral visitors are those that visit your site because it was mentioned in a different site or blog. It is important to have traffic from each source, but every source has different rates of conversion. It is important in this case to measure how much each traffic source is converting and deal with them individually.
2. New Visitor Conversion: A new visitor and a returning visitor interact differently with your site. In order to improve new visitor conversions, it is important to determine their first impression of your site and focus on how that can be improved.
3. Returning Visitor Conversions: When you have returning visitors to your site it is important to know why they are returning and if they converted on their first visit. If they did not convert on their first visit, you want to know why and how you can get them to convert on their second visit. Even if they did not convert for the first time, it is a very good thing that they returned to your site for the second time.
4. Interactions Per Visit: Even if you have visitors that do not convert, it is still very important to monitor their behavior while they are on the site. You want to know what your visitors are doing on your site, how you can get them to do more if it, and how can you change these behaviors to conversions. All of these interactions are very important can lead to increased conversions on your site.
5. Cost Per Conversion: Cost per conversion is probably one of the most important metrics to track. If your costs per conversion are very high, it won’t matter that you have high conversions and high value per visits. Always keep your costs per conversion in mind when trying to increase conversions.
6. Bounce Rate: The bounce rate is the rate at which new visitors visit your site and immediately click away without doing anything. A high bounce rate means that your site is not optimized or you have weak or irrelevant sources of traffic.
All of these metrics are very important to track in order to be successful. Here at SPIN, we can help optimize each of these metrics and get you on your way to increased conversions. Contact us today!
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