What are conversion rate metrics?
Three common metrics you should follow in Google Analytics to measure your conversion optimization success are:
- Average time on site
- Bounce Rate
- Conversion rate
1. What is average time on site?
Average time on site is the amount of time that a visitor spends on one of your pages. Similarly to bounce rates (the percentage of visitors who leave your site after viewing only one page), the amount of time that a visitor spends on one of your pages can be an indicator of false leads, that is, visitors who land on your site, only to realize that it’s not what they were looking for and leave immediately.
Why average time on site is important?
A bounce rate tells you when a visitor has viewed only a single page on your site. Time on page, however, gives you insight into how well your content is actually performing.
The truth is, the ideal average for time on page will vary. Some marketers state that their average time on page is between 2-3 minutes. The page type and the content it contains are also factors. If the page is largely informational without many links to other parts of your site, then a high bounce rate and low average time on a page may not be too alarming. The opposite should hold true if the page is, for example, mainly a directory of links to your products and services page.
2. What is bounce rate?
Bounce Rate is the percentage of bounced visits (i.e. visits in which the person left your site from the entrance page).
Why is bounce rate important?
Similar to Average Time on Page, Bounce Rate is a measure of content quality and a high Bounce Rate generally indicates if your site’s entrance (landing) pages aren’t relevant to your visitors.
3. What is conversion rate?
Conversion rate is the percentage of website visitors that take a desired action. There are multiple ways to read conversion rates, In this case, we are looking for the eCommerce conversion rate: the percentage of visitors that purchase a product.
Why is conversion rate important?
Learning what is your eCommerce conversion rate will help you understand how optimized is your website for conversion. Conversion rate optimization allows you to lower your customer acquisition costs by getting more value from the visitors and users you already have.