One of the toughest things to accomplish on any platform is user retention and forming that habit within your product or service to get the customers to keep them coming back. Many of us confuse retention with user engagement. Retention is more about how many times the person is active within a certain period of time.
For example, Annie purchases a subscription and is active on the site 12 times out of the month. How many times does she keep coming back? That is retention. Engagement is more about a page visits and how enthralled your user is.
How do you track users who are habitually using your product or service?
(New Visitors) – (Total Visitor Count) = Returning Users
In your Google Analytics dashboard, go to your Cohort Analysis report. Then select the “User Retention” metric to see how your retention has changed over time. You may want to try different cohort sizes and ranges to really find out different insights about the users.
When you segment the report you will be able to see which sources are producing the most sustaining users and customers.
Here is a quick tip when it comes to custom dimensions in the dashboard. You will easily be able to define a particular user group or segment and call them “activated users.” Then you will apply this to your Cohort Analysis and analyze the retention rates.
This will let you compare the different segments within your Cohort Analysis.
Next go to:
Step 1: Click on Audience
Step 2: Go down to behavior
Step 3: Click on Frequency vs. Recently
This will show you comparison of people who are coming back to your site and at the specific times they are returning.
Now that you have your retention rates under control, let’s get into the referral rates.
Everyone talks about building a marketing army, brand ambassadors or even evangelists. In order to properly build your marketing army and track results you will want to use the Google URL builder tool to build tags for your campaigns. You will be able to see which campaign is bringing the most amounts of visitors.
The Growth Hackers community uses referral campaigns effectively to source their traffic properly. You will always want to find out where your visitors are coming from.
After you track the different sources you can carry out an Omni channel marketing campaign that’s customer-driven. What do I mean by Omnichannel marketing? Omnichannel marketing is different from multichannel marketing because it is laser-focused on the customers rather than the corporate structure.
An example of omnichannel marketing would be if your customers used their Facebook to find out the latest about your products and then they also loved seeing the in-store physical product, then they would have the option to choose from both.
The experience is catered to the customer. It is not about setting up many different marketing channels and then deciding which ones are the most effective through a “swim lane” strategy.
At the end of the day, marketing is math right? If your business isn’t producing enough revenue then it will not be profitable and you’ll end up shutting the doors real fast. The premise of running a business is to make sales.
One of the biggest factors of not being able to sell is not solving a large enough problem. At the end of the day everything boils down to: how can you convert more people into paying customers.
If you look at this as a macro-level conversion it is essentially about getting your trial customer to convert into a paying customer. If they are on a trial plan, it is about converting them to the paid plan.
If you do have subscription plans then remember to define them using “Custom Dimensions” within Google Analytics. Then track the conversion of each goal. This will allow you to see when a customer pays and when they pay and subscribe.
You can take it a step further can create “plan-specific URLs” and this means the customer will be taken to a specific URL after selecting and paying for a plan. After it is converted to the corresponding goal it will be tracked as a transaction!
It doesn’t matter which metric you track. It matters if you segment it or not. If you don’t segment, you will lose in the customer acquisition game!
If you need help getting started click here and dive in to the Google Solutions Gallery.
Let’s take another closer look at this before we part ways. Now say that you single out a specific group of users who upgrade their plans. In Google Analytics you bring together all the data around this upgrade: location, campaign, sources and keyword searches.
This will allow you to find out where to find these people and how you can get more of them!
By now you are convinced on these hacks and tools to start tracking your marketing efforts. As mentioned before, marketing is math and tracking everything will make a big difference, not only in terms of growth but in profits.