Conversion rate is the percentage of visitors to a website who complete a desired action, such as making a purchase, filling out a form, or subscribing to a newsletter. In marketing, conversion rate is used to:
- Measure the effectiveness of marketing campaigns, landing pages, and website design in driving desired actions.
- Compare the performance of different marketing channels, such as paid search, social media, or email marketing.
- Identify opportunities for optimization and improvement in the user experience and conversion funnel.
- Set benchmarks and goals for marketing efforts and track progress over time.
- Calculate the return on investment (ROI) of marketing spend by considering the cost per conversion.
To measure conversion rate in Google Analytics:
- Set up GA4 to track events, such as form submissions, purchases, or button clicks.
- Assign a monetary value to events and web pages to measure the economic impact of conversions.
- Use GA4 reports to view the contribution of different marketing channels to conversion rates.
- Analyze the conversion rate across different segments to identify patterns and opportunities for targeting.
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