Top Conversion Metrics & Business KPIs You Should Track

1. The biggest obstacle for marketers in today’s world is measuring the achievement and profitability of               their ​marketing campaigns​. ​In an increasingly data-driven industry, their strategies need to prove their worth and that can only happen when their success is attributed to the key metrics and business                   KPIs.  Now the question is which metrics and KPIs matter the most?  While the metrics are the key data points regarding the performance of your marketing strategy. The                 business KPIs aredirectlyinterlinkedwiththegoalofyourbusinessandhelpsusdeterminethedirection                   the marketing strategy is proceeding towards the achievement of the set goals.  If you’re constantly asking thequestionsaboutthebusinessKPIstochooseforyourbusinessthenyouare                 in the right place. Today we’re looking at some of the most important KPIs for businesses websites.                                                                                                                    1.  Getting Traffic to your website ​isn’t as important as you think it is when it comes to the conversion rates. What really matters isn’t how many people visit you, but whether those visitorshavehelpedinthe                 achievement of your goals.  And understanding where visitors are finding your site is very important. There are three main sources               from where web traffic comes from.  Relevant Traffic sources                                                                             

2. Direct visitors. Visitors coming to your site by directly typing your website URL in thebrowseraddress                 bar.  Search visitors.​​These website visitors find you by searching through a search engine, usually Google.  Referral visitors. ​These visitors come to your site from different sources, whether it’s another website, social media page, or somewhere else.  Different types of traffic come with different engagement levels. Since engagement is one of the top               challenges for B2B marketers, it makes sense to track each traffic source and see which sources are                 bringing the best kind of traffic.  It is important to diversify the number of sources. If your website is getting all your visitors from one                     source, it’s risky.  For example, if the majority of your visitor is coming Google search and Google’salgorithmchanges,you                   might lose all your traffic overnight.                                                                                                                        2.  It is one of the most important business KPIs you can calculate. It’s also known as the cost of lead                   generation or cost per referral. What is the use ofhavinghighnumbersofconversionsandvaluepervisit                     if your expenditure is way too high?  For example, if an eCommerce store with a $4 value per visit, then thatwouldbegreatgiventheirtraffic                     is free. On the other hand, if it costs them $150 per conversion, and each converted user only places a                       $100 order, the store will go broke in no time.  While trying to increase conversion rates, keep in mind your ​costs per conversion ​and overall margins as well.  Cost per conversion                                                                                                                3.  Even if the visitors don’t convert, no worries. You can still monitor their behavior on your website.  What exactly aretheylookingat,howcanyouinfluencethemtodomore,andhowcanyouencouragethe                   users into conversions?  For example, if visitors are going through a lot of your website pages and leaving reviews, they’re still                     interacting at a high level. Even if they’re not converting at the moment, the business KPI should be to                   increase these interactions.  You can use tools like HotJar for understanding where your visitors are clicking and how they are                 interacting with your web content.  User Interactions                                                                             

3. You should also figure out how you can leverage those interactions into increased conversions, whether                   that’s downloads, subscriptions, purchases, or something else.              4.  Customer churn rate is the best business KPI for measuring customer retention and loyalty. It provides                   you hard data to understand whether the customers are content or not. In case your business hasahigh                 churn rate, most likely your product or service doesn’t meet the needs of your customers.  Businesses use the churn rate business KPI to predict future problems in their funnel.  One of the ways digital marketing services calculate this business KPI is like this:  Lost quantity / Number of “x” at the beginning of time = Churn  We hope you found our list of top Business KPIs to track for your ​business website ​useful. In case you have any questions please feel free to contact us and we’ll be delighted to help you out.  Cheers!!  Customer churn rate                                                                              Company Name   Address    Facebook   Twitter   Google+   Instagram   Quora   Website :​​QL Tech  : ​QL Tech - 45 St Georges Terrace, Ground Floor, Perth, 6000  : ​https://www.facebook.com/QLTechAU/  : ​https://twitter.com/qltechaustralia  : ​https://plus.google.com/+QLTechPerth  : ​https://www.instagram.com/qltechau/  : ​https://www.quora.com/profile/QL-Tech-Australia  : ​https://www.qltech.com.au/