Ecommerce: Important Marketing Metrics to Track - Get Fact Up Episode 68

Published Nov 13, 2017 Chris: Good day, world. Chris Hogan and Andrew Groat coming to you live from the MeMedia studio here at Burleigh Heads for "Get Fact Up" episode number 68 - on important marketing metrics to track. How you going, Andrew? Andrew: Good. How are you? Chris: Good, mate. So website traffic is probably the number one metric that people tend to track when they’re looking at - obviously their marketing reports. And we know that being that high a level probably isn't good enough. Andrew: Yeah, traffic’s not really that important. There’re other things that you should be looking at. Chris: Cool. So we've got some example Google Analytics snapshots that we've got here from the Interwebs. And we wanted to just have a look over those and break some of them down. So here we have the Google Analytics snapshot of acquisitions and channels, it's real easy to find. And it's breaking down that high level traffic into multiple different channels... Andrew: The different marketing streams, yeah. So this one’s eCommerce business, and straight off the bat you can see that something's wrong here, ‘cause you’ve got paid searches as the highest traffic. But, you need to circle a few things here, so the problem here is the bounce rate is massive. Paid search, high bounce rate, a lot of money's gone down the drain quite frankly. Chris: So let's talk about bounce rate while we're on that. So between 55% and 70% bounce rate is considered high. Anything over 70% is considered pretty much extreme. So it's time to bring that down. Andrew: So just to explain what a bounce is, it’s when someone comes to your page - doesn’t click on anything and then they leave. So someone that didn't interact with your page at all. Chris: And bounces can happen a lot. Especially in search and social - ah sorry, in paid search and social, because people have searched for a particular product. Andrew: They may not necessarily wanna see it. You might have put it in front of them when they don't want it. Chris: In paid search they've searched for a particular product, they've clicked on that link to that paid page and they've seen what they wanted to see - probably priced, they're shopping around, boom they're gone again. If you didn't entice them to click through to another page, then essentially they've bounced. And they could’ve been sitting on that page for a long time. In fact, they could’ve been sitting on that for hours, all day, reading all the content that you had to offer, but if they didn't click through to another page it's called a bounce. So the same thing can happen in social, right? Because... Andrew: Yeah, we say this all the time that social's people's down time. And if you're putting ads in front of them and they don't realise it, they've clicked through to an ad, they're often just gonna bail back out of that. Social traffic tends to have high bounce rate and lower engagement metrics because of that. But, it's a great branding opportunity, it's not a right off there. You just have to be showing the right sort of content, maybe not necessarily trying to get someone to buy something straight from Facebook. Chris: And then we've got on that same slide we've got their conversion rate, and 3.11 conversion rate. Conversions categorised as 2% as average, 5% is good and 10% plus is great. So they're sitting between averaging good. Now if we were going to say, for example if the client said, "Hey, while I'm getting lots of traffic on paid search, that's great, I'm gonna increase my spend." Andrew: Well I would say don't even bother. Especially when you have a little bit further down that email traffic is a 10.24% conversion rate. I would be saying do more email campaigns, 'cause that's obviously working really well. And then maybe have a look at bringing this bounce rate down, put a bit of work into that. Make some more relevant content, have a look at your page load potentially and have a look at your targeting - maybe you're showing your ads to the wrong people. Chris: There's so much you can do in eCommerce. Show that there's a sale on and that it's a limited time. For example, there's a counter there just above the "add to cart" button that says buy now or you'll miss out. For instance... Andrew: Get some more testimonials. Get some more reviews and writings and things like that. Chris: More content on that page essentially. So that is called conversion rate optimisation. Improving your page to improve conversions. If you can improve those conversions then potentially go back and invest more dollars into that paid advertising. Andrew: I would also say maybe get a heat map or a screen recording software installed on the website and actually get some hard data - hard evidence about what's going on there. It might just be as simple as there's no calls to action above the fold, it might be a real easy fix. Chris: Could be an error. Paid search - don't forget if you've got so many heaps of campaigns, that's a very high le...