A recent report from web analytics firm comScore shows that 78% of website traffic never returns to the site after visiting it once. The report also indicates that only 20% of visitors return to the site they visited at least two times, while only 10% visit the site more than three times. Not all online sites and businesses are negatively affected by these statistics, however; some actually benefit from them through a type of marketing method called cross-channel marketing. This method involves using data to predict where consumers will go next and cross-promoting with those channels in order to drive more traffic to one’s own site or business. In this quick article we will dive into
What is customer retention rate and why do you need it?
The customer retention rate is a metric you can use to determine how well your business is doing in maintaining its customer base. It helps you figure out if you are successfully building relationships with your customers, what they need and what they want, and whether they would recommend your products or services to others. In short, it’s an indicator of customer loyalty. According to marketing research company Forrester Research Inc., The Net Promoter Score® (NPS) measures customer loyalty by asking a single question: How likely is it that you would recommend [this product] to a friend or colleague?
How do you calculate customer retention rate?
There are two main ways to calculate customer retention rate. The first is to take your customers, divide them by new customers you acquired in a given time period, and then multiply by 100%. This is basically how Google Analytics calculates customer retention rate. In Google Analytics, you need to have activated AdWords conversion tracking on your website.
what is a metric in google analytics?
A metric is a measurement or statistic you use to track and analyze your site performance. For example, Unique Visitors is a metric. If a goal in Google Analytics for your site is set up to be unique visitors, then you will be able to see how many people visit your site in a given time period. You can find all metrics by navigating from either Goals > Overview or Audience > Overview (depending on what part of GA you are using).
what is a “dimension” in google analytics?
There are four dimensions to a web page in Google Analytics:
- Pages,
- Transactions,
- Hits,
- Events.
Each dimension lets you filter your reports by specific metrics like which marketing campaign brought someone to your site or what your bounce rate is. For example, if you want to find out how many people come to your website from google searches for a certain keyword or phrase, use pages as a dimension in a filters section of a basic report. You can also use page as one dimension and keyword as another in some advanced reports; check out Google Analytics Help for more information on how dimensions work.
Google Analytics metrics list
There are dozens of metrics in Google Analytics, but some are more common than others.
- Bounce Rate
- Number Of Users And Sessions
- Average pages / session
- Average session duration
- Organic Vs Paid Sessions (If There is any paid ad campaigns running)
- Google Search Console (In Case you integrated Google analytics and Search Console connection)
- Percentage of of returning visitors
If you don’t know what they mean, don’t worry—it may seem confusing at first, but each one is easy to figure out once you get going. For example, you can use bounce rate as a measure of how well your site is doing. The number represents how many people left your site from each visit, or bounce. A higher bounce rate could indicate that visitors aren’t finding what they need on your site and moving on to another one without contributing to the content or spending money purchasing products (if you sell).
which goals are available in google analytics?
There are five different types of goals available in Google Analytics: Destination, Duration, Pages/Visit, Events and Transactions. Each one gives you insight into how your visitors are interacting with your site. Destination goals tell you where people are going when they visit your site — and provide a specific landing page URL to help gauge performance. This is useful for e-commerce stores that want to track sales data. Duration goals let you measure how long users spent on a given page or section of your site, helping you better understand which pages are popular and which ones may need some work.
what data is google analytics goals unable to track?
One important thing to keep in mind is that data from goals can only be used to track data from specific page URLs. Google Analytics goals cannot be used to track non-page URLs, like links within a single page or from other pages on your site (known as internal page links). If you have multiple URLs per page, we recommend adding a unique ID field to each URL. This will enable you to track data for a particular link/page regardless of which URL it’s attached to. If a goal URL has been changed for any reason, visit Admin > Property > Profiles & Goals and update your destination URL accordingly so it matches what is shown in your code snippet.
Eventually, reports you export from Google analytics can be very useful in many ways such as :
- Knowing your website hitmap,
- A/B testing with your CTAs placements,
- Re-structing your internal link strategy based on top pages -by Traffic- on your website.
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