Wednesday, October 31, 2012

Improve comparison of traffic source KPIs with Google Analytics cost import feature

Google announced several improvements this week during their annual Summit of Google Analytics. Long waited cost import feature is now available in public beta. From now on, you will have two options to compare your return of investment (ROI) for all reach sources directing traffic to your website.

Previously you had no other choice than copy, download or use API to get the collected data out of Google Analytics. Then you would add cost data from other sources or campaigns in Excel, Google Drive or other tools. Below you can see a real life example of key performance indicators by source. With this data, you can easily compare effectiveness of last click interactions of each channel.

This table includes KPIs such as visits, bounce rate (BR), cost, cost per click (CPC), actions (in this case orders), conversion rate (CR), cost per action (in this case cost per order), sales and return on ad spent (ROAS). This kind of KPI table is the fundamental basis of getting insights for each reach source.

From now on, you will have another option. You can import cost data from other sources than Google Adwords, into Google Analytics. I haven't got my hands on this new feature yet, but I hope that Google Analytics will calculate the very same metrics automatically with the imported cost data (than presented above).

There are many businesses and websites where visitors don't convert within one visit. That's why you need multi-channel funnels reports in addition. Glad to see all these new features coming up and GA moving towards to a real business intelligence tool. As always, feel free to add your comments and questions. Or you can send me a private message as well.