Qualified Visitors for Transactional Site
The number of visitors is a vague metric for understanding whether your website visitors are qualified visitors or not.
Since not all visitors are equal, how do we determine if your site is getting qualified traffic to your website?
The answer will be determined by what you consider a success within your website’s goal.
In this entry, I would like to look into this by approaching a transactional site.
In transactional sites, qualified visitors are easy to depict and analyze the qualified visitors.
Since assigning a dollar value to your metrics can be done easily, an analyst can work within that context of qualified visitors better than a non-transactional site.
Such an example would be assigning your revenue or costs to your KPI’s and analyzing your ROI.
We are more interested in determining qualified visitors from a higher level in this entry.
The high-level breakdown for you to determine different types of qualified visitors in transactional websites will be listed below.
It will allow you to understand your visitors to allocate your time, budget and set up strategies to shift your visitors into visitors who convert.
1. Several visitors converted within a certain time frame.
Ideally, this is the kind of qualified visitors you want, 100% of the visitors buying and converting.
However, the real world is not that simple and easy. So to find out how many visitors have converted is not that difficult.
Conversion Rate: Number of visitors who converted over total unique visitors. This percentage tells you the volume of your qualified visitors.
2. Several visitors who didn’t convert but are most likely qualified or have the potential to convert.
You might have a lot of these visitors. An example of these types of visitors would be people who know what they want but compare sites for better deals (price, shipping).
Unlike the qualified visitors defined above (1), these are much trickier to determine.
For example, some analysts would say visitors who stayed more than 10 sec are pretty much qualified.
However, it takes more combinations of different metrics to understand these types of visitors better.
Such measures are:
- Total visitors to the site minus the total number of converted visitors.
- Visitors who had site visit duration of more than minimum desired time, and less than 25 min (at the most).
Every web page has a different volume of content for visitors to consume.
Use your judgment to see the least number of visitors to consume the page information. Maximum time is set to 25 min due to the typical session definition.
The better you estimate that time will narrow down your chance of defining qualified visitors.
Bounce rate (single page visits/total entry visits), use the bounce rate to determine the visitors that aren’t bouncing to the volume of visitors you are working with.
This process of picking the non-qualified visitors out of the visitors, who didn’t convert, will most likely leave you with a better number of qualified visitors for you to start analyzing with these types of qualified visitors.
3. Some visitors who didn’t convert and are not qualified.
The short cut-off to determine this visitor group is to take total visitors minus both #1 and #2 visitors.
These metrics will be a good benchmark since your future strategies would most likely be interested in reducing this type of visitor and shifting them into qualified visitors.
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