How to Track & Monitor KPIs and Metrics in Google Analytics
Are you stuck trying to figure out how to translate your business and marketing KPIs into something that you can track and monitor and Google analytics?
Well, you are not alone in this video. I will teach you how to track and monitor KPIs and important metrics in Google analytics.
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As a business owner, you know, just how important it is to set and track KPIs for your business so that you can understand how it's performing and how to grow it effectively. KPIs are important across your entire business, but especially so for anything that relates to sales, marketing, or customer service.
Sometimes business owners have trouble setting up Google analytics to best track and monitor their most important metrics and KPIs. And that's where I've stepped in to help them get a better grasp on measuring KPIs and metrics.
If you're ready to get started. Let's dive in.
The first thing to do is to make sure that you have your full list of business KPIs handy.
KPIs are the three to five most important metrics in your business. The ones that you could just look at on their own in isolation, have a good idea about how your business is doing at the highest level.
Once you've got your KPIs list out in front of you make a note about which ones can be tracked directly on your website where the behavior that indicates that KPI happened, actually occurs on your site.
Examples of this might include lead opt-in sales, total website, visitors, and engagement on the website. There will also be some of your KPIs that can't necessarily be directly tracked on your website. Things like customer experience profitability, and we'll actually get into those a little bit later in this video for KPIs that can be tracked on your website.
You can actually set them up as a goal in Google Analytics, by clicking in here on goals. And then within that goal, you just click on goal details, edit, and you can turn on this value and put a certain amount of dollars associated with each goal conversion.
So if you have revenue associated with a certain KPI, make sure that you add this value to your goal. Google Analytics will keep track of the value or revenue associated with each goal for you.
Well, it might not always be a hundred percent accurate. It will give you a great idea about how you are tracking against your KPI.
If you want more information about the best ways to set up goals in Google analytics? Check out this video I created just for you. It's called the best Google analytics goal set up to analyze your marketing metrics.
Make sure you set up one goal for each of your KPIs that can be tracked via activity on your website. All right.
So what about your KPIs that can't be directly tracked due to their website behavior? Now, this is where things start to get fun. Well, at least it's fun for data fans like me while you may not be able to track that exact KPI within Google analytics, you can create a proxy KPI or metric that can be tracked in Google analytics.
This is important because it'll help you see the realistic nearly real-time performance of all your KPIs in one place. It'll help you keep a pulse on your entire business rather than having some KPIs tracked over here and some others over here. And then, then possibly being reported in different timeframes. It'll all be in one place. So I know this might be really hard to wrap your head around right now. So I'm going to take you through an example.
Let's say you have a KPI that's based on customer satisfaction. It's not straightforward to track that in Google analytics, but what you can track as a proxy metric instead might be how many people visited your help or contact page on your website.
See how this might not be the exact KPI, but you can infer from this number that if it gets really high, that it might mean that customer satisfaction has been impacted, or if you're more interested in profitability than revenue, maybe you set up each goal.
So that the value of the goal completion is actually the profit of that product. Instead of the revenue. I love this stuff because you can get super creative and maybe even test proxy metrics and compare them to the real KPIs and see how they correlate over time comment below. And let me know what KPIs or proxy metrics will you be tracking and monitoring on your website through Google analytics.
Now that we've set up tracking for our KPIs and proxy metrics, your next question might be, well, what should I be monitoring? And how often should I be looking at these KPIs and metrics? I recommend starting by monitoring your KPIs and metrics on at least a weekly basis to start,
It's important to make sure that they're actually tracking correctly. And so you can begin analyzing those activities and the business impact on the KPIs. Once you get comfortable tracking your KPIs on a weekly basis, it might make sense for you to go on a monthly basis.
This depends on how much volume your website is, getting the launches and promotions that you have going on during that period, and how much were business and KPIs can fluctuate on a weekly, monthly or seasonal basis.
You should be looking for fluctuations in your data, places where your metrics are higher or lower than average, or compared to your benchmark. And then you can dig into what you're finding out and what actually caused that fluctuation in the data. Then you can either do more of it if it impacted your KPI in a positive way or do less of it if it negatively impacted your KPI.
If you're ready to start making smarter decisions easily and more confidently to scale your business to greater success. Check out my Facebook group, confident and data-driven entrepreneurs, where I have live trainings and Q and A's three times a week. The link is below and I can't wait to see you in there.
Make sure to subscribe to this channel, hit that like button and comment below to let me know your biggest takeaway from this video. And if you're ready to take your business and marketing to the next level and using systems and metrics, don't forget to check out these related videos on my channel.
Cheers friend, to your business success.
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