Any Internet marketer worth their weight in Tweets should be able to accurately calculate a return on investment (ROI). The easiest way is to set up Goal Conversions in Google Analytics, an online tracking and measurement service. This feature allows you to assign a monetary value for activity on your website, whether it be visitors to a specific URL, a downloaded PDF, the purchase of a product, or the submission of a contact form, all of which allows you to track your online marketing efforts. See below to set up an account and make sure your marketing dollars are working for you.
Setting Goals in Google Analytics
Once logged into your Analytics account, navigate to the Admin tab and click your profile name.
Click the Goals tab. You’re allowed up to five Goals, so use them wisely! Click +Goal and choose an appropriate Goal name that is descriptive and recognizable.
Choose the Goal Type. This will be dependent on what you define as a conversion, e.g., form submissions, newsletter sign-ups, a purchase, a specific URL, etc. The various goal types are:
URL Destination is fairly self-explanatory. This option is used when the user navigates to a specific page of your site. For example, if they complete a purchase and are directed to a Thank You page, you would select that URL as the goal.
Visit Duration is also pretty clear. If your goal is for visitors to spend a specific amount of time on your site, this is the choice for you.
Pages/Visit is how many pages of your site a user views during a visit.
Event is my favorite Goal Type (and it doesn’t take much to excite a metrics nerd like myself). This Goal Type can be used if the conversion is directing a user from your own site to another, such as buying tickets for an event from a third-party site. Event Tracking must be properly implemented in order for this to be used.
You’ve probably heard the old saying, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” Well now you will! So start tracking, and see if those online marketing dollars are being put to good use.