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The All or Nothing Approach to Conversion Analysis Needs Updating

January 29th, 2013

What do online advertisers want more than anything? Lots of conversions. When we get conversions, we pat ourselves on the back and add them to the success pile so that we can keep count.

As our successful conversion number rises, we feel happier, but conversion analysis should really go a lot deeper than this if we are looking to find ways of making more people convert on a regular basis and turn our happiness into online marketing euphoria.

If we only ever measure the amount of successful conversions, we only ever get access to half of the data and this kind of analysis is seriously lacking in so many respects. Analyzing and having access to the amount of “almost conversions” that occur on your site is even more valuable in some ways than knowing how many people have actually converted.

Why?

If you know how many people almost converted, you can use this data to develop ways of remarketing and making those people follow through to full conversion the next time.

Let’s look into this conversion funnel data analysis even further…

1. Why do people “almost convert” on your website?

Gathering data on the people that almost convert is actually a lot easy than most people might at first think that it is, which is why it is so strange to think that more people are not focusing on this intermediary information.

For example, let’s imagine that you own a business which sells products online and your internet customers have the opportunity to buy their products via your website and have them sent directly to their homes.

Most people with online businesses in this situation are only gathering data on actual conversions. So, when someone buys something, when money changes hands, this is when their online marketing analysis program (for example, Google Analytics) is set up to record the conversion. But what about all those people who go to your website and add products to the cart, but change their minds just before proceeding to check out?

We have all done this. We have all put something into an online buy basket, made our way to check out and then changed our minds, removing the product from the cart before purchase.

There are lots of reasons why this happens. For example:

1. The internet user puts lots of items in the shopping basket and then realizes that they don’t have enough money to buy everything, so they take out some of the items.

2. The internet user becomes suspicious as to the safety of the site and therefore doesn’t want to enter in their details.

3. Some internet users might simply have lost internet connection just before the point of sale and had in fact intended to buy everything in their cart.

4. Some internet users are affected by their own inner voices, telling them that they don’t need these products or that it might be best to shop around a little more to see if they can get a better price elsewhere before they commit.

The above ideas are just a few of the many reasons why some people might complete an “almost conversion” and it is important to find out when these “almost conversions” are taking place so that we can learn from them and make further improvements to our online marketing campaigns.

2. How can you find out how to gather data on the “almost conversions” on your site?

Collecting the data is easily done. Set up another conversion marker in your Google Analytics program which records the dropping of a product into the shopping cart as an actual conversion in its own right.

You will then be able to clearly see how many people land on your site, how many people get as far as putting things in the shopping cart and then how many people actually complete the entire conversion process and pay for their item.

It is that simple and the results that you will gather will be invaluable to you and to the analysis of your online advertising campaign as a whole.

3. What can you do with the data that you gather on the “almost conversions”?

The best thing to do with data that you gather on “almost conversions” as part of your online advertising campaigns is to follow up with a re-marketing campaign that targets those internet users that almost became customers to see if your re-marketing efforts will help to just tip the odds in your favor and get them to convert the second time around.

For instance, if the reason why one of your potential customers did not convert lies in the simple fact that the internet connection was lost at a crucial conversion moment, this internet user might have forgotten about the purchase they were going to make.

In this scenario, your re-marketing campaign will help to give them a gentle remind to return to your site and finish off the transaction once and for all.

If, however, the reason why your potential customer did not fully convert relates to inner doubt and the inner voice of that person telling them that they don’t really need your product, which happens quite regularly, your remarketing campaign will act as the naughty little devil in their other ear, drawing them back to your site and to full conversion.

Remember, it is always easier to get a returning internet user, via remarketing strategies, to convert than an internet user visiting your website for the first time. This is why “almost conversion” data is essential and why you need to make changes to the way in which your Google Analytics program records activity in your online advertising campaigns as soon as possible.

Contact our Director of Marketing for more information about Google AdWords Management at any time.