what does assigning a value to a google analytics goal enable?
Compare conversions and evaluate changes on your site
Track business revenue in real time
Track your actual conversion income
Analyze the conversion funnel of your website
Correct Answer: Analyze the conversion channel of your website.
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Everyone loves money. This is a universal truth that is hard to argue with, so we will not do it. Now imagine that there is a way to optimize your budget so that you can earn even more money without big investments?
Yes, and that includes assigning a monetary value to your Google Analytics goals. In this article, we will take a look at the features and benefits that this process offers.
The advantage no. 1: accurate monetary calculations.
Okay, here it is: Every time an application or computer visitor performs an action that you previously identified as a target, Google Analytics displays it as a new conversion. The collected conversion data can be viewed in 4 types of reports: Duration, assignment, event, and pages / screens per session.
So what are the benefits of assigning value to a Google Analytics goal? Well, first of all, it helps you determine exactly where your revenue comes from. How much does it cost to visit each traffic source you receive?
What percentage of customers come from organic search and what percentage of your advertising campaigns? What exactly is your revenue from keywords, campaign, and referrals?
All these questions can be easily answered by assigning value to the objectives, which in itself is a huge benefit for those who need a deep understanding. In addition, assigning Google Analytics goals in monetary terms allows you to measure and generate money from conversions, which are then conveniently displayed in your income statements.
The advantage no. 2: free trial version of the product.
We’ll be honest and simple from the start – if you have e-commerce tracking enabled in Google Analytics, you shouldn’t value your goals at all. Your automatically generated e-commerce reports already give you detailed information about products and transactions that won’t add value to your goals.
On the other hand, if you’re a startup, a website with a single product, or you just haven’t set up e-commerce tracking yet, using this option is a great opportunity for you.
Take the price of your individual product and assign it as target value to see if the product you’re selling is gaining popularity. This way, you save money for expensive and costly installation and get the data you need effortlessly. what does assigning a value to a google analytics goal enable?
Pranay, a coding maestro weaving digital magic with Dot Net,Angular. With 4+ years in web development,he specialize in crafting seamless solutions. Beyond coding, Pranay is a wordsmith, passionate about sharing insights through guest posts. Whether crafting code or narratives, he bring creativity and precision to every project. Connect to explore his coding journey and delve into the world where tech meets storytelling .follow us on X