Traffic is one of the first things you should be focused on analyzing and fixing. If there is no traffic to your site than there will be not much anything else, no sales, no conversions, no cart abandonment to analyze and fix.
But, and this is indeed a big but, the most important thing of traffic is quality. Always, always, always choose quality over quantity when it comes to traffic.
The ultimate goal of an online store is to generate a thicker wallet for you.
What's the point of leading a huge amount of visitors to your site who are never going to spend a single cent on your products? Nothing, zero, nada.
This is why you should always be on the lookout and keep track of which channels getting you the most revenue, which are the ones converting best and how much visitors they bring to your site (this is still important).
We have created the Traffic Report so you'll be able to do exactly that, even if you are not a data analyst. It's clean, it's simple to understand and on point.
If you want to dig deeper (which you should) and analyze for example the return on your individual Facebook campaigns for a specific region you can do that also.
1. Revenue by Channel
There are 8 different marketing channels where you can acquire your visitors and customers from. Here is a detailed article about the channels.
Here you can see the most important KPI, the main point of generating traffic, your revenue divided to channel level. So you can get the clear picture of how your marketing channels are contributing to the number of 100 dollar bills in your pocket.
Why it matters: By taking a quick look at your metrics here you can easily see what needs to be fixed.
For example many times you can see an improved number of sessions and a decrease in conversion rate, which means, that you were able to generate more traffic, but the quality of the visitors was worse than previously.
In such a case you should either stop wasting money and/or time on acquiring visitors who will never become customers, or better yet, tweak things a little and keep most of the traffic and improve your conversion rate back to how it was.
- Revenue is the money your customers have paid you in the given time frame. You can see it divided by channels in this report.
- Session is basically a visit. A unique visitor can have more visits. These visitors came only from organic sources.
- Average Order Value (AOV) is the average value of all of the orders made in the given time frame.
Session Value is the average amount of money a single session / visit means for your site. This is a calculated metric, so you won't actually receive money after every individual visit.
It is derived from all of your revenue vs all of your sessions for a specific channel. Let's say you had 10 000 visitors in March and you generated 5000$ in March. This means that your average session value is going to be 50 Cents. But you won't receive 50 Cents after every single visit, rather 2000 visitors won't buy anything but the 2001st is going to spend 1000$ in your store.
- Conversion Rate is the percentage of the organic visitors who became customers vs. all of the visitors.
2. Performance breakdown
Why it matters: Find out exactly why your marketing channels perform the way they do.
Here you can see all of your marketing channels and the most important KPIs telling the story about their performance with the changes compared to the previous same amount time frame next to the actual value (green or red percentage)
You should first go for identifying the quick wins, which can result in more revenue relatively easily.
After that you should create an order of your channels and decide which ones you want to focus on and how. (This is going to be your high level marketing strategy.)
This can be done by taking many things into consideration and seeing the big picture and the details of the performance of your channels.
You could spend endless hours thinking and analyzing this, but you should not over complicate this process. Here you can find everything you need in order to make the best decision, so go for it.
Start analyzing your traffic right away and let's make world conquering marketing strategies. Ready, Set, Go!