I chose to look at Medium’s membership program. The member motivations that it addresses are having money go back to the site’s journalism, interactions with likeminded organizations, appropriate…
When launching a new product, it can be scary not knowing how it will be received and whether or not it will be a success.
We are big believers in the importance of really getting to know your customers prior to launching anything. Even after you’ve deployed your product, it’s good to carry on doing research to help you see how the market reacts to your product in the marketplace.
The sales funnel below gives an overview of the customer journey from prospective customers to paying customers. Using metrics can help you get feedback to look at conversion rates and how people are interacting with your product.
Metrics are typically used to measure the progress of something over the course of time.Metrics as part of market testingto see how it’s actually going once live. Here are four ways for you to see how people are reacting to your product.
A/B Testing can also be done using CrazyEgg or Optimizely. These can be kept running over a few months to test different designs or copy.
A conversion analytics tool measures the following:
You can also use a couple of calculations to help you look at your Return On Investment and Conversion Rates. Conversion can also be measured by using the following calculation: Conversion Rate = Total number of conversions / Total number of sessions. Cost Per Acquisition to work out ROI = Total Campaign Cost / Conversions
Google Analytics helps you understand who your users are, and measure and monitor how they are behaving on your website through frequency of visits and retention rates. It even allows you to tailor which specific elements of your website you are particularly interested in studying. All that, and it’s free!
Google Analytics can be used alongside Google Search Console, to measure site-wide usage, here are some measurements you can use:
These include but are not limited to:
These are just a few examples from a long list of possible reports, but it shows that it enables you to analyse your users’ behaviour from the point that they actually came across your site (and how they came across it), to what value they can add to your business based on their behaviour. It’s also really beneficial that you can zoom into the individual user level rather than only being able to analyse on a wide scale
One of the other key benefits of using Google Analytics to gain your metrics is that the data is designed to integrate with other popular Google marketing functions such as Google Ads, Google AdSense and (if you opt for the ‘Analytics 360’ account level), the data can be merged with some elements of SalesForce.
Another way to look at how people are reacting to your product in the marketplace is what they are saying on social media. You can look across forums, comments, complaints and posts about your business and product.
Here we’ve given you a quick overview as to how metrics can fit into your product development and why metrics can be an important part of market testing. We believe that it’s important to continually monitor how your users are behaving on your sites so that you can identify where there are any issues and resolve them.
It can be really interesting to compare back to the findings of your user research to see if user engagement is as you expected, and if there are any discrepancies between the two, to then use the metrics to try and understand why that might be and if any changes to the site could alter this and also look at gaps to explore for further user research.
We’d love to hear about your experiences with Google Analytics or any other metrics sites that you’ve used so be sure to leave us a comment.
The Snap Out Team 🚀
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