What does assigning a value to a Google Analytics Goal enable?

Assigning a value to Google Analytics helps with the analysis of the effectiveness of the website conversion funnel. If you run a website or a number of websites, you would be aware of Google Analytics. In case you are new to the world of Google Analytics, read the full post as we will answer one of the most important queries – What does assigning value to google analytics goal mean?

As you move forward, you will get to know what it enables.

Google Analytics is extremely important if you are using digital marketing services for your company. It helps identify the shortcomings that might be in play and makes you timely aware about them.

It can also help identify technical SEO issues in your website by pointing out at website pages that are not receiving as much traffic as other pages. This way you can keep a track of any issues that may happen with your website.

What are goals in Google Analytics?

Here’s something you need to know about goals:

Goals allow you to measure how well the application or website fulfills the objectives. A goal signifies the completed activity. This is called a ‘conversion.’ It can contribute to the success of your small-scale or large-scale business. A good example of goals includes making a quick purchase on an eCommerce website or completing a full game level. Submitting contact details on an online form is also a goal for the lead generation team.

How do you define these goals? You use Google Analytics to analyze and take the necessary steps once you have all the data.

Also, Read

• What is not Considered a Source in Google Analytics by Default?
• When does a default analytics session expire in Google Analytics?
• What Report Shows The Percent Of Site Traffic That Visited Previously in Google Analytics

Assigning Value to Google Analytics Goal

Assigning a value to a Google Analytics goal lets you analyze and understand the effectiveness of the site’s conversion funnel. When you study about a goal, you will find out that it is an activity or an action set forth by a user on a website’s resource. It is not hard to create certain screens or pages to measure the frequency, type of activity, and duration.

When a goal is configured, you assign a value to the conversion. This will be a monetary value. Once this is done, each time a visitor heads to your website and completes the goal, a certain amount is totaled and recorded. The result is accessible via Goal Value in the Google Analytics report.

Action = Value

Are you aware that every action gets converted to a value (in this case, a dollar value). Let’s take the example of measuring how often a lead visitor completes certain actions like making a purchase. If only 5% of the subscribers purchase products with an expenditure of $100, the sign-up goal would have a $5 value. This means that each time someone on the website visits and makes a subscription, $5 gets added to the goal value (total).

In case 20% of the subscribers finish a $100 purchase, the goal value will be $20. This is how you will find out the profitability of different activities.

Setting Google Analytics goals has some benefits including revenue calculations, tracking progress of your business, and conducting a free trial run.

Conclusion

Assigning a value to a goal in Google Analytics will help you prioritize tasks without wasting any time over it. This way, Google also learns what is more important for you and your website and works towards giving output related to that. It is an excellent way to increase lead generation, get sales and achieve other targets.

Frequently Asked Questions