Google Analytics conversion probability is a brand new feature of Google Analytics and another step towards automation of digital marketing.
You can find Conversion probability report by navigating to Audience > Behavior > Conversion Probability.
But before you jump with excitement there are some prerequisites for this feature and it may not be available in your account if it doesn’t meet these prerequisites.
These prerequisites are.
- The view must have e-commerce tracking enabled and instrumented
- A minimum of 1000 e-commerce transactions recorded per month in the reporting view.
- Once you reach the initial threshold of 1000 e-commerce transactions, Analytics then needs 30 days of data to build the model.
- If after modeling the data Analytics is not confident in the accuracy of the results, then Conversion Probability data will not be available for that reporting view.
So if your account doesn’t meet these requirements this feature may not be available to you but you can still check it out with Google Analytics Demo account for google merchandising store. There is a link in notes below for video which guides you on accessing Google Analytics Demo account.
Once you log in to Demo account navigate to Audience > Behavior > Conversion Probability.
As you can see users are bucketed in ranges of conversion probability where 1 being the lowest chance of conversion and 100 being highest chance of conversion.
By clicking on plus sign to the left of any bucket you can get data for smaller ranges of the bucket. But the most important question you must be having now how do I use this data?
You can use this feature in several ways but 2 of the most effective ways to use this feature are
- You can create segments of probability buckets by clicking segment button to the right of probability bucket and apply these segments to your marketing reports to understand which channel or campaign is giving you users in highest and lowest conversion probability bucket.
- You can use high conversion probability segments to create an audience for AdWords or Doubleclick for remarketing campaigns.
Hope you enjoyed this session and as usual, I am going to leave you with one of my favorite analytics quotes and something to ponder upon.