Calculate SEO ROI; means the return on investment and its measurement through the analytics that is extracted from Google and others. Ecommerce websites need to have a track of the profits from the investments made in digital marketing platforms. It is essential to calculate whether the efforts made are increasing the traffic, or sales, or revenue.
Calculate SEO ROI
To calculate the Return on Investment of SEO, the basic formula is (Profit – Investment) / Investment x 100. Now through the below-mentioned steps, you can learn how to calculate SEO ROI from Your eCommerce Site:
Set up your google analytics
It is crucial for any brand before getting into eCommerce and starting an SEO campaign; the brand must have a Google Analytics account that can help track important numbers. By numbers, users can track metrics, traffic, bounce rate, and even conversions.
It is also mandatory for brands or their teams to provide specific attention to conversion tracking. With the help of conversion tracking, brands or their teams can monitor data and conversions that happen on the brand’s eCommerce website.
By conversion, it means the prospect of every action like adding a product to moving it to a shopping cart or filling in details, and finally buying the product. So, it is typically important for brands to have a connection with Google Analytics to derive the SEO ROI. Therefore, the tool from Google will help in improving the SEO strategy of brands.
Launch eCommerce tracking
Brands on eCommerce platforms can start their tracking tool on their website. It can be done through Google Analytics, as they will provide a tracking code for both apps and websites.
The steps are simple as first users need to get into their Google Analytics account to turn on Enable eCommerce. Later, to set up a tracking code, users need to get into their Analytics account, where they need to click on Tracking info from where they can get the Tracking Code.
After attaining the tracking code from Google Analytics, they will provide a Global Site Tag. Later that tag can be used in the webpage of every website.
Having a tracking code provides real-time information or reports of the statistics on the website. Later brands can exclude the internal traffic from Google Analytics. This will let Google filter out the traffic that is coming from your website.
Track your performance
You must track the overall performance of your website or app. As it can be achievable through the tracking code that you got from Google and its analytics. Apart from focusing on the conversion rate, brands must pay attention to factors like bounce rates, time on page, the minimum order value, and also the abandonment rate.
Closely following other metrics data helps in advancing or correcting the website’s strategy. For example, if the brand identifies a high bounce rate, then they can search out for issues all over the websites. Having high bounce rates might be because of irrelevant keyword selection or slow loading time.
The web development team of the brand can also take advantage of Google Analytics Intelligence that recommends several things to improve the overall website’s performance. Some insights that Analytics Intelligence provides are Conversion Probability, Session Quality, Smart Lists, etc.
View your google analytics data
To extract out the most from Google Analytics, the web developer team of every brand must keep a steady vigilance on the statistics. This helps in assessing the report from every month and further calculating it to pull out the SEO’s ROI. Google’s Analytics also provides acquisition data which provides the information about the traffic that is earned by the website.
Calculate your eCommerce SEO ROI
After gathering information from each data, here the formula that a brand can use to calculate the ROI:
(Profit – Investment) / Investment x 100 = Return on Investment
Remember that the store that offers products at a higher price is more susceptible to earn back the investment faster with a lower number of sales as compared to products that are priced at a lower rate.
So, if your backend team strategically and systemically follows these steps correctly, they can dig out a proper return on investment from the numbers. Therefore, that will help your team to identify the flaw and the plus sides of your SEO strategy.