Monitoring conversion goals in Usermaven

Goals are pivotal in assessing the accomplishment of your online business objectives. They represent significant actions, known as conversions, that indicate the success of your platform. These conversions can range from making a purchase on an ecommerce site to completing a game level in a mobile gaming app, or even submitting a contact form for lead generation.

The process of defining goals is a foundational element of your digital analytics measurement strategy within Usermaven. Properly configured goals enable Usermaven to deliver crucial insights, including conversion counts and rates, essential for evaluating your online business performance and marketing campaigns.

Conversion goals in Usermaven

Conversion goals are a powerful tool for monitoring page statistics, conversion rates for pages or page groups, tracking events, and analyzing custom metrics. A goal in Usermaven represents a specific action you desire your visitors to take, whether it's clicking on a particular site element, engaging with blog posts, or making a purchase.

Once you've established a conversion goal, it will appear in the Conversion Goals panel on the Usermaven dashboard. You can click on a specific goal to filter the entire dashboard for in-depth analysis.

Why use conversion goals?

While metrics like pageviews, bounce rate, and average session duration have their place, they may not always align with your bottom line objectives, especially if your focus is beyond ad revenue.

By configuring goals, you gain the ability to effectively track essential metrics. Depending on your business type, you can track metrics such as CTA clicks, lead generation, and completed sales. These goals can be even simpler such as user sign up, visiting the home page or adding a product to the cart. Furthermore, goals simplify the process of analyzing, reporting, and optimizing for conversions.

With well-defined goals, you can leverage Usermaven's default reports to identify which channels boast the highest conversion rates, providing insights into the effectiveness of your traffic sources. Goals also allow you to gauge the individual contributions of pages and channels to your bottom line, facilitating ROI calculations for different campaigns.

How to create a conversion goal in Usermaven

To create a Conversion Goal in Usermaven:

1. Start from the main Usermaven dashboard on the Web Analytics page. Scroll down until you locate the "Conversion Goals" tab.

2. In the top right corner of the "Conversion Goals" tab, click on "New Goal." This action will open a dashboard for creating a new conversion goal.

3. In the first step, give your conversion goal a descriptive name to identify it easily.

4. For the second step, select the event you want to associate with the conversion goal. For example, you might choose "Visitors who visited the pricing page."

5. In the next step, specify a value for your conversion goal. You can choose between setting a static or a dynamic value. However, the dynamic conversion goal value is only available for custom events. Moreover, please ensure that you've set your default currency in "Workspace settings > Miscellaneous" since the conversion rate calculation depends on this value. The formula applied is (Conversion Count / User Count) * 100.

6. At the very end, you have the option to track the conversion rate and value based on unique conversions. If you wish to enable this, check the provided box. If not, there's no need to check the box. The "Value" will be calculated based on your choice:

• If "Track Conv." is marked true, it will be calculated as Visits Count * Conversion Value.

• If "Track Conv." is marked false, it will be calculated as Total Conversions * Conversion Value.

With these steps, you can create and configure your conversion goal within Usermaven.

Static vs dynamic conversion goal value

A Static Conversion Goal involves assigning a fixed value to a specific user action, typically a monetary value associated with a predefined event. For instance, if each user signing up for a new account contributes $1, you can set up a static conversion goal for the "sign_up" event with a fixed value of $1. This value increments with each occurrence of the sign-up event during the specified timeframe, providing a cumulative total of the conversion value.

The Dynamic Conversion goal on the other hand allows for flexibility in tracking user actions with variable values, particularly useful when events like "purchased_plan" involve different amounts for each user. By defining the event as "purchased_plan" and utilizing the usermaven.track method with specific amounts (such as "amount": 100, "amount": 150, etc.), you can set up a dynamic conversion goal. In this scenario, you choose the dynamic option for the conversion goal and select the "amount" parameter from the dropdown. Usermaven then calculates the total conversion value by aggregating the varying amounts from each "purchased_plan" event within the chosen timeframe, offering a comprehensive insight into the total value generated by this dynamic user action.

Conversion goals insights

After successfully creating a conversion goal in Usermaven, you can access a wealth of information related to this goal by navigating to Conversion Goals. Here, you'll find an array of details organized into separate columns: Activity, Uniques, Total, Conversion Rate (CR), and Value.

• Activity: In this column, you'll find a graphical representation of your conversion goal's activity over a specified time period. This graph displays the number of conversions achieved on each date within the chosen timeframe. Hovering your cursor over a specific point on the graph will reveal the exact number of conversions for that date.

• Uniques: Here, you can view the number of unique visitors who successfully completed the conversion associated with your goal.

• Total: This column provides a comprehensive count of both unique and recurrent users who have successfully met the criteria of your conversion goal.

• Conversion Rate (CR): Under this column, you'll find the overall conversion rate for your goal, calculated using the formula: (Conversion Count / User Count) * 100.

• Value: In the Value column, you can access the total value generated for your conversion goal, presented in the currency you designated during goal creation. This value is directly tied to the conversion goal value you specified when creating the goal, providing a clear indicator of the impact this goal has on your business.

Editing a conversion goal

If you ever need to make adjustments to an existing conversion goal within Usermaven, the process is straightforward. Here's a quick guide:

1. On your Usermaven dashboard, locate the conversion goal you wish to edit by hovering your cursor over the goal's name. You'll notice a small pencil icon next to the name.

2. Click on the pencil icon, and a window will appear, allowing you to modify the goal's settings and details.

3. After making the desired changes, click the "Update" button to save your edits.

With these simple steps, you can easily tailor your conversion goals to match your evolving needs and objectives.

Deleting a conversion goal

If you ever need to remove a conversion goal within Usermaven, the process is straightforward. Here's a quick guide:

1. On your Usermaven dashboard, locate the conversion goal you wish to delete by hovering your cursor over the goal's name. You'll notice a small trash bin or delete icon next to the name.

2. Click on the delete icon, and you will be prompted to confirm your decision to delete the goal.

3. Click "Confirm" to proceed with the deletion, and the selected goal will be removed from your conversion goals list.

This easy process ensures you can manage your goals efficiently, tailoring them to match your changing needs and objectives.