The SECRET to Understanding YOUR Consumers
Podcast: Chew on This - Digestable DTC ContentPublished On: Thu Feb 22 2024
Description: In this episode of Chew on CRO, we discuss the significance of proper data analysis and strategies in CRO and highlight common data hygiene problems in brands, with Ned Macpherson from Endrock! We also discuss the transition from Google Analytics 3 (GA3) to Google Analytics 4 (GA4), and the importance of high-level metrics such as pages per session (PPS), session duration (ASD), and bounce rate in evaluating brand growth and user engagement. 💡 Importance of experimentation in CRO strategies and GA4 for data analysis and optimization. 📈 Segmentation of website data to understand conversion funnels and areas for improvement. 📊 Key metrics to measure, including traffic trend, ad to cart rate, and checkout transaction rate. 🧠 Concept of testing and learning from different strategies to improve user experience and conversion rates. 📉 Warning against measuring metrics that cannot be acted upon, in order to focus on actionable data. 0:00 - Intro 0:02 - The importance of experimentation in DTC success 0:41 - Introduction to Ned from Enrock and their focus on CRO 1:06 - Launching a new series called "Chew on CRO" 1:35 - The importance of data points and strategies in CRO 2:09 - Common data hygiene problems in brands 3:06 - Transitioning from GA3 to GA4 and the importance of setting up GA4 properly 4:00 - Accessing historical data in GA4 5:01 - The significance of high-level metrics in evaluating brand growth 6:01 - The relationship between pages per session and session duration 7:00 - Understanding bounce rate and its impact on user engagement 8:06 - Ned explains the concept of bounce rate and its impact on user experience. 10:06 - Ned discusses the difference between bounce rate and exit rate. 12:07 - Ned explains the importance of engagement rate as a metric. 14:06 - Ned discusses the importance of segmenting website data for conversion rate optimization. 17:33 - The speaker discusses the importance of setting up Google Analytics 4 (GA4) properly for accurate data analysis. 18:02 - The speaker talks about the ad to cart rates and how they can be inflated for fashion brands due to users using it as a wish list. 19:01 - The speaker mentions that a furniture brand has a 7% add to cart rate, which is considered good for them. 20:05 - The speaker emphasizes the importance of focusing on the checkout rate, as it indicates a high level of user intent. 21:00 - The speaker mentions that an unusually low-performing checkout rate can be a critical metric to look at, as it indicates a problem in the user journey. 22:01 - The speaker discusses the importance of optimizing the checkout process and suggests using different widgets and features to improve conversion rates. 25:40 - The speaker talks about the importance of addressing checkout abandonment and suggests introducing scarcity elements or surprise and delight tactics to encourage users to complete their purchase. 29:02 - The speaker emphasizes the need to optimize the checkout page and suggests adding trust elements, such as money-back guarantees, to increase conversion rates. 31:00 - The speaker discusses the impact of shipping charges on checkout abandonment and suggests offering free shipping or surprising customers with free expedited shipping to improve conversion rates. 34:07 - The speaker highlights the importance of conducting variable experimentation and A/B testing to gather data and make informed decisions for future business growth. Follow us, subscribe to our newsletter, and to see our exclusive merch check out https://chewonthis.io/ Growth systems to scale your brand - https://endrock.software/ Ron Shah - https://twitter.com/obviceo Ash Melwani - https://twitter.com/ashvinmelwani Chew On This - https://twitter.com/chewonthisdtc
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