Conversion Funnel & KPIs
Digital Marketing Auditing
Borislav Kiprin
"Defining the Business Goals. How to establish the conversion funnel?
Business existence is based on the ability to create an economic value for its stakeholders. In that sense, before building a website or make changes on one, we should define our business goals and ..."
2. 2 Borislav Kiprin
Defining the Business Goals. How to establish the conversion funnel?
Business existence is based on the ability to create an economic value for its stakeholders. In that sense, before
building a website or make changes on one, we should define our business goals and the purpose of that site
on the road to achieve them. The critical cycle or the so-called marketing funnel is as follows:
Defining Awareness Interest
Business Goals • Get the • Offer
product/ differentiatio
service out n and need
there. satisfaction
Create
Purchase
Awareness
Consideration Purchase
• Make • Create an
product/ user friendly
service info point of
available purchase
Consideration Drive Interest
Defining KPI’s. How to construct KPI? Different KPI’s for different site types?
Key Performance Factors help defining and measuring progress while trying to achieve set business goals. It is
important to have the agreement among the leadership in the company when identifying and setting the KPIs.
These indicators are quantifying results of taken actions towards achieving the goal(s) or identification of fields
that need optimization or improvement. They represent metrics and ratios that differ depending on the purpose
of the website at hand with the following examples:
eCommerce Lead Generation Customer Service Content Branding
• Overall • Overall • % Support • Ad-Based • Average Time
Purchase Conversions Touches Served • Visits per Week per Visit
Conversion • Conversio by Online • Visit Length • Page Views per
• Average Order Campaigns • Average Cost • Ad Click Ratio Visit
Size • Drivers to the per Touch • Recency & • Return Visits
• Items Per Order Registratin • Drivers to Other Frequency over time
• Step-by-Step Process Support Methods • Average Order
• Subscription-
Purchase • Registration • Onsite Search Based Value per Person
Conversion Process Drop- Effectiveness • Conversion of
• Purchase - outs • Survey Results Nonsubscribers
funnel Defectors • Conversion of to Subscribers
• First Time vs,. Leads to Actual • Active
Returning Buyers Customers Subscriber Base
• Average
Subscription
Length
KPIs should be monitored on regular basis and in different intervals of time in order to obtain clearer picture on
the trends of the website consumption and evaluate the impact of changes made to it.