Many new Internet marketers either don’t know the benefits of analyzing their Web pages and sales letters, don’t know how to do it, or think that tools to do this cost too much for them to afford. This is often why they don’t analyze the effectiveness of their sales funnel, a key mistake that hurts their profitability. Fortunately, you can analyze your sales funnel with free tools from Google.
You will set up goals in Google Analytics to analyze how far each prospect goes in your sales funnel and where they may fall off at- that will indicate that there is a problem at that specific point in the funnel that needs to be addressed to improve the effectiveness of the sales funnel. You need to log into your Google Analytics account, choose the profile you want to add the sales funnel to and click “Admin” in the top-right corner.
Then, choose the “Goals” tab underneath the profile that you wish to add the sales funnel to, click “Create Goal.” Then you will set the settings of the actual goal and sales to funnel. You’ll name the goal, then choose the type of goal that it is, such as “Destination.” You’ll then choose “Next Step” and actually fill out the goal and sales funnel details. For “Destination,” you’ll enter the URL of where you want your customer to end up, which is the last page of your sales funnel. If they are buying a product, you’ll want them to wind up on the “Thank You” page, confirmation page, or receipt page after the last purchase.
You then assign the “Value” to each conversion. If your product costs $49.99, then you would enter $49.99 as the value. You then plot out your sales funnel; you add the home page, the product page, and the checkout page to cards. You’ll then enter the URLs of all those pages into the Screen/Page form field, then click “Create Goal.”
This sets up your sales funnel in Google Analytics and allows you to track the effectiveness of your funnel in converting prospects into customers via the funnel visualization report. You can see the number of people who have entered the funnel and the percentage that has gone to the next step of the funnel. You will also see a red triangle alerting you to how many people got out of the funnel before they went where we wanted them to go, as well as where they went. This will help you to learn the weaknesses in your funnel and address them properly so you can have a more effective and profitable sales funnel.