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• Join us at MatomoCamp 2024 world tour edition

  13 novembre 2024, par Daniel Crough — Uncategorized

  Join us at MatomoCamp 2024 world tour edition, our online conference dedicated to Matomo Analytics—the leading open-source web analytics platform that prioritises data privacy.

  • 🗓️ Date : 14 November 2024
  • 🌐 Format : 24-hour virtual conference accessible worldwide
  • 💰 Cost : Free and no need to register

  Event highlights

  Opening ceremony

  Begin the day with a welcome from Ronan Chardonneau, co-organiser of MatomoCamp and customer success manager at Matomo.

  View session | iCal link

  Keynote : “Matomo by its creator”

  Attend a special session with Matthieu Aubry, the founder of Matomo Analytics. Learn about the platform’s evolution and future developments.

  View session | iCal link

  Explore MatomoCamp 2024’s diverse tracks and topics

  MatomoCamp 2024 offers a wide range of topics across several tracks, including using Matomo, integration, digital analytics, privacy, plugin development, system administration, business, other free analytics, use cases, and workshops and panel talks.

  Featured sessions

  1. Using AI to fetch raw data with Python

  Speaker : Ralph Conti
  Time : 14 November, 12:00 PM UTC

  Discover how to combine AI and Matomo’s API to create unique reporting solutions. Leverage Python for advanced data analysis and unlock new possibilities in your analytics workflow.

  View session | iCal link

  2. Supercharge Matomo event tracking with custom reports

  Speaker : Thomas Steur
  Time : 14 November, 2:00 PM UTC

  Learn how to enhance event tracking and simplify data analysis using Matomo’s custom reports feature. This session will help you unlock the full potential of your event data.

  View session | iCal link

  3. GDPR with AI and AI Act

  Speaker : Stefanie Bauer
  Time : 14 November, 4:00 PM UTC

  Navigate the complexities of data protection requirements for AI systems under GDPR. Explore the implications of the new AI Act and receive practical tips for compliance.

  View session | iCal link

  4. A new data mesh era !

  Speaker : Jorge Powers
  Time : 14 November, 4:00 PM UTC

  Explore how Matomo supports the data mesh approach, enabling decentralised data ownership and privacy-focused analytics. Learn how to empower teams to manage and analyse data without third-party reliance.

  View session | iCal link

  5. Why Matomo has to create a MTM server side : The future of data privacy and user tracking

  Panel discussion
  Time : 14 November, 6:00 PM UTC

  Join experts in a discussion on the necessity of server-side tag management for enhanced privacy and compliance. Delve into the future of data privacy and user tracking.

  View session | iCal link

  6. Visualisation of Matomo data using external tools

  Speaker : Leticia Rodríguez Morado
  Time : 14 November, 8:00 PM UTC

  Learn how to create compelling dashboards using Grafana and Matomo data. Enhance your data visualisation skills and gain better insights.

  View session | iCal link

  7. Keep it simple : Tracking what matters with Matomo

  Speaker : Scott Fillman
  Time : 14 November, 9:00 PM UTC

  Discover how to focus on essential metrics and simplify your analytics setup for more effective insights. Learn tactics for a powerful, streamlined Matomo configuration.

  View session | iCal link

  Stay connected

  Stay updated with the latest news and announcements :

  • Twitter : @MatomoCamp
  • YouTube : @MatomoCamp
  • Official website : matomocamp.org

  Don’t miss out

  MatomoCamp 2024 world tour edition is more than a conference ; it’s a global gathering shaping the future of ethical analytics. Whether you aim to enhance your skills, stay informed about industry trends, or network with professionals worldwide, this event offers valuable opportunities.

• 7 Ecommerce Metrics to Track and Improve in 2024

  12 avril 2024, par Erin

  You can invest hours into market research, create the best ads you’ve ever seen and fine-tune your budgets. But the only way to really know if your digital marketing campaigns move the needle is to track ecommerce metrics.

  It’s time to put your hopes and gut feelings aside and focus on the data. Ecommerce metrics are key performance indicators that can tell you a lot about the performance of a single campaign, a traffic source or your entire marketing efforts. 

  That’s why it’s essential to understand what ecommerce metrics are, key metrics to track and how to improve them. 

  Ready to do all of the above ? Then, let’s get started.

  What are ecommerce metrics ? 

  An ecommerce metric is any metric that helps you understand the effectiveness of your digital marketing efforts and the extent to which users are taking a desired action. Most ecommerce metrics focus on conversions, which could be anything from making a purchase to subscribing to your email list.

  You need to track ecommerce metrics to understand how well your marketing efforts are working. They are essential to helping you run a cost-effective marketing campaign that delivers a return on investment. 

  For example, tracking ecommerce metrics will help you identify whether your digital marketing campaigns are generating a return on investment or whether they are actually losing money. They also help you identify your most effective campaigns and traffic sources. 

  Ecommerce metrics also help you spot opportunities for improvement both in terms of your marketing campaigns and your site’s UX. 

  For instance, you can use ecommerce metrics to track the impact on revenue of A/B tests on your marketing campaigns. Or you can use them to understand how users interact with your website and what, if anything, you can do to make it more engaging.

  What’s the difference between conversion rate and conversion value ?

  The difference between a conversion rate and a conversion value is that the former is a percentage while the latter is a monetary value. 

  There can be confusion between the terms conversion rate and conversion value. Since conversions are core metrics in ecommerce, it’s worth taking a minute to clarify. 

  Conversion rates measure the percentage of people who take a desired action on your website compared to the total number of visitors. If you have 100 visitors and one of them converts, then your conversion rate is 1%. 

  Here’s the formula for calculating your conversion rate :

  Conversion Rate (%) = (Number of conversions / Total number of visitors) × 100

  

  Using the example above :

  Conversion Rate = (1 / 100) × 100 = 1%

  Conversion value is a monetary amount you assign to each conversion. In some cases, this is the price of the product a user purchases. In other conversion events, such as signing up for a free trial, you may wish to assign a hypothetical conversion value. 

  To calculate a hypothetical conversion value, let’s consider that you have estimated the average revenue generated from a paying customer is $300. If the conversion rate from free trial to paying customer is 20%, then the hypothetical conversion value for each free trial signup would be $300 multiplied by 20%, which equals $60. This takes into account the number of free trial users who eventually become paying customers.

  So the formula for hypothetical conversion value looks like this :

  

  Hypothetical conversion value = (Average revenue per paying customer) × (Conversion rate)

  Using the values from our example :

  Hypothetical conversion value = $300 × 20% = $60

  The most important ecommerce metrics and how to track them

  There are dozens of ecommerce metrics you could track, but here are seven of the most important. 

  Conversion rate

  Conversion rate is the percentage of visitors who take a desired action. It is arguably one of the most important ecommerce metrics and a great top-level indicator of the success of your marketing efforts. 

  You can measure the conversion rate of anything, including newsletter signups, ebook downloads, and product purchases, using the following formula :

  

  Conversion rate = (Number of people who took action / Total number of visitors) × 100

  You usually won’t have to manually calculate your conversion rate, though. Almost every web analytics or ad platform will track the conversion rate automatically.

  Matomo, for instance, automatically tracks any conversion you set in the Goals report.

  

  As you can see in the screenshot, your site’s conversions are plotted over a period of time and the conversion rate is tracked below the graph. You can change the time period to see how your conversion rate fluctuates.

  If you want to go even further, track your new visitor conversion rate to see how engaging your site is to first-time visitors. 

  Try Matomo for Free

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  Cost per acquisition

  Cost per acquisition (CPA) is the average cost of acquiring a new user. You can calculate your overall CPA or you can break CPA down by email campaign, traffic source, or any other criteria. 

  Calculate CPA by dividing your total marketing cost by the number of new users you acquire.

  

  CPA = Total marketing cost​ / Number of new users acquired 

  So if your Google Ads campaign costs €1,000 and you acquire 100 new users, your CPA is €10 (1000/100=10).

  It’s important to note that CPA is not the same as customer acquisition cost. Customer acquisition cost considers the number of paying customers. CPA looks at the number of users taking a certain action, like subscribing to a newsletter, making a purchase, or signing up for a free trial.

  Cost per acquisition is a direct measure of your marketing efforts’ effectiveness, especially when comparing CPA to average customer spend and return on ad spend. 

  If your CPA is higher than the average customer spend, your marketing campaign is profitable. If not, then you can look at ways to either increase customer spend or decrease your cost per acquisition.

  Customer lifetime value

  Customer lifetime value (CLV) is the average amount of money a customer will spend with your ecommerce brand over their lifetime. 

  Customer value is the total worth of a customer to your brand based on their purchasing behaviour. To calculate it, multiply the average purchase value by the average number of purchases. For instance, if the average purchase value is €50 and customers make 5 purchases on average, the customer value would be €250.

  Use this formula to calculate customer value :

  

  Customer value = Average purchase value × Average number of purchases

  Then you can calculate customer lifetime value using the following formula :

  

  CLV = Customer value × Average customer lifespan

  In another example, let’s say you have a software company and customers pay you €500 per year for an annual subscription. If the average customer lifespan is 5 years, then the Customer Lifetime Value (CLV) would be €2,500.

  Customer lifetime value = €500 × 5 = €2,500

  Knowing how much potential customers are likely to spend helps you set accurate marketing budgets and optimise the price of your products. 

  Return on investment

  Return on investment (ROI) is the amount of revenue your marketing efforts generate compared to total spend. 

  It’s usually calculated as a percentage using the following formula :

  

  ROI = (Revenue / Total spend) × 100

  If you spend €1,000 on a paid ad campaign and your efforts bring in €5,000, then your ROI is 500% (5,000/1,000 × 100).

  With a web analytics tool like Matomo, you can quickly see the revenue generated from each traffic source and you can drill down further to compare different social media channels, search engines, referral websites and campaigns to get more granular view. 

  

  In the example above in Matomo’s Marketing Attribution feature, we can see that social networks are generating the highest amount of revenue in the year. To calculate ROI, we would need to compare the amount of investment to each channel. 

  Let’s say we invested $1,000 per year in search engine optimisation and content marketing, the return on investment (ROI) stands at approximately 2576%, based on a revenue of $26,763.48 per year. 

  Conversely, for organic social media campaigns, where $5,000 was invested and revenue amounted to $71,180.22 per year, the ROI is approximately 1323%. 

  Despite differences in revenue generation, both channels exhibit significant returns on investment, with SEO and content marketing demonstrating a much higher ROI compared to organic social media campaigns. 

  With that in mind, we might want to consider shifting our marketing budget to focus more on search engine optimisation and content marketing as it’s a greater return on investment.

  Try Matomo for Free

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  Return on ad spend

  Return on ad spend (ROAS) is similar to return on investment, but it measures the profitability of a specific ad or campaign.

  Calculate ROAS using the following formula :

  

  ROAS = Revenue / Ad cost 

  A positive ROAS means you are making money. If you generate €3 for every €1 you spend on advertising, for example, there’s no reason to turn off that campaign. If you only make €1 for every €2 you spend, however, then you need to shut down the campaign or optimise it. 

  Bounce rate

  Bounce rate is the percentage of visitors who leave your site without taking another action. Calculate it using the following formula :

  

  Bounce rate = (Number of visitors who bounce / Total number of visitors) × 100

  Some portion of users will always leave your site immediately, but you should aim to make your bounce rate as low as possible. After all, every customer that bounces is a missed opportunity that you may never get again. 

  You can check the bounce rate for each one of your site’s pages using Matomo’s page analytics report. Web analytics tools like Google Analytics can track bounce rates for online stores also. 

  

  Bounce rate is calculated automatically. You can sort the list of pages by bounce rate allowing you to prioritise your optimisation efforts. 

  Don’t stop there, though. Explore bounce rate further by comparing your mobile bounce rate vs. desktop bounce rate by segmenting your traffic. This will highlight whether your mobile site needs improving. 

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

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  Click-through rate

  Your clickthrough rate (CTR) tells you the number of people who click on your ads as a percentage of total impressions. You can calculate it by dividing the number of clicks your ad gets by the total number of times people see it. 

  So the formula looks like this :

  

  CTR (%) = (Number of clicks / Total impressions​) × 100

  If an ad gets 1,000 impressions and 10 people click on it, then the CTR will be 10/1,000 × 100 = 1%

  You don’t usually need to calculate your clickthrough rate manually, however. Most ad platforms like Google Ads will automatically calculate CTR.

  What is considered a good ecommerce sales conversion rate ?

  This question is so broad it’s almost impossible to answer. The thing is, sales conversion rates vary massively depending on the conversion event and the industry. A good conversion rate in one industry might be terrible in another. 

  That being said, research shows that the average website conversion rate across all industries is 2.35%. Of course, some websites convert much better than this. The same study found that the top 25% of websites across all industries have a conversion rate of 5.31% or higher. 

  How can you improve your conversion rate ?

  Ecommerce metrics don’t just let you track your campaign’s ROI, they help you identify ways to improve your campaign. 

  Use these five tips to start improving your marketing campaign’s conversion rates today :

  Run A/B tests

  The most effective way to improve almost all of the ecommerce metrics you track is to test, test, and test again.

  A/B testing or multivariate testing compares two different versions of the same content, such as a landing page or blog post. Seeing which version performs better can help you squeeze as many conversions as possible from your website and ad campaigns. But only if you test as many things as possible. This should include :

  • Ad placement
  • Ad copy
  • CTAs
  • Headlines
  • Straplines
  • Colours
  • Design

  To create and analyse tests and their results effectively, you’ll need either an A/B testing platform or a web analytics solution like Matomo, which offers one out of the box.

  

  Matomo’s A/B Testing feature makes it easy to create and track tests over time, breaking down each test’s variations by the metrics that matter. It automatically calculates statistical significance, too, meaning you can be sure you’re making a change for the better. 

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

• Top 4 CRO Tools to Boost Your Conversion Rates in 2024

  31 octobre 2023, par Erin

  Are you tired of watching potential customers leave your website without converting ? You’ve spent countless hours creating an engaging website, but those high bounce rates keep haunting you.

  The good news ? The solution lies in the transformative power of Conversion Rate Optimisation (CRO) tools. In this guide, we’ll dive deep into the world of CRO tools. We will equip you with strategies to turn those bounces into conversions.

  Why are conversion rate optimisation tools so crucial ?

  CRO tools can be assets in digital marketing, playing a pivotal role in enhancing online businesses’ performance. CRO tools empower businesses to improve website conversion rates by analysing user behaviour. You can then leverage this user data to optimise web elements.

  Improving website conversion rates is paramount because it increases revenue and customer satisfaction. A study by VentureBeat revealed an average return on investment (ROI) of 223% thanks to CRO tools.

  173 marketers out of the surveyed group reported returns exceeding 1,000%. Both of these data points highlight the impact CRO tools can have.

  

  Coupled with CRO tools, certain testing tools and web analytics tools play a crucial role. They offer insight into user behaviour patterns, enabling businesses to choose effective strategies. By understanding what resonates with users, these tools help inform data-driven decisions. This allows businesses to refine online strategies and enhance the customer experience.

  CRO tools enhance user experiences and ensure business sustainability. Integrating these tools is crucial for staying ahead. CRO and web analytics work together to optimise digital presence. 

  Real-world examples of CRO tools in action

  In this section, we’ll explore real case studies showcasing CRO tools in action. See how businesses enhance conversion rates, user experiences, and online performance. These studies reveal the practical impact of data-driven decisions and user-focused strategies.

  

  Case study : How Matomo’s Form Analytics helped Concrete CMS 3x leads

  Concrete CMS, is a content management system provider that helps users build and manage websites. They used Matomo’s Form Analytics to uncover that users were getting stuck at the address input stage of the onboarding process. Using these insights to make adjustments to their onboarding form, Concrete CMS was able to achieve 3 times the amount of leads in just a few days.

  Read the full Concrete CMS case study.

  Best analytics tools for enhancing conversion rate optimisation in 2023

  Jump to the comparison table to see an overview of each tool.

  1. Matomo

  

  Matomo stands out as an all-encompassing tool that seamlessly combines traditional web analytics features (like pageviews and bounce rates) with advanced behavioural analytics capabilities, providing a full spectrum of insights for effective CRO.

  Key features

  • Heatmaps and Session Recordings :
    These features empower businesses to see their websites through the eyes of their visitors. By visually mapping user engagement and observing individual sessions, businesses can make informed decisions, enhance user experience and ultimately increase conversions. These tools are invaluable assets for businesses aiming to create user-friendly websites.

  • Form Analytics :
    Matomo’s Form Analytics offers comprehensive tracking of user interactions within forms. This includes covering input fields, dropdowns, buttons and submissions. Businesses can create custom conversion funnels and pinpoint form abandonment reasons. 

  • Users Flow :
    Matomo’s Users Flow feature tracks visitor paths, drop-offs and successful routes, helping businesses optimise their websites. This insight informs decisions, enhances user experience, and boosts conversion rates.

  • Surveys plugin :
    The Matomo Surveys plugin allows businesses to gather direct feedback from users. This feature enhances understanding by capturing user opinions, adding another layer to the analytical depth Matomo offers.

  • A/B testing :
    The platform allows you to conduct A/B tests to compare different versions of web pages. This helps determine which performs better in conversions. By conducting experiments and analysing the results within Matomo, businesses can iteratively refine their content and design elements.

  • Funnels :
    Matomo’s Funnels feature empower businesses to visualise, analyse and optimise their conversion paths. By identifying drop-off points, tailoring user experiences and conducting A/B tests within the funnel, businesses can make data-driven decisions that significantly boost conversions and enhance the overall user journey on their websites.

  Pros

  • Starting at $19 per month, Matomo is an affordable CRO solution.
  • Matomo guarantees accurate data, eliminating the need to fill gaps with artificial intelligence (AI) or machine learning. 
  • Matomo’s open-source framework ensures enhanced security, privacy, customisation, community support and long-term reliability. 

  Cons

  • The On-Premise (self-hosted) version is free, with additional charges for advanced features.
  • Managing Matomo On-Premise requires servers and technical know-how.

  Try Matomo for Free

  Get the web insights you need, without compromising data accuracy.

  Start for free

  No credit card required

  2. Google Analytics

  

  Google Analytics provides businesses and website owners valuable insights into their online audience. It tracks website traffic, user interactions and analyses conversion data to enhance the user experience.

  While Google Analytics may not provide the extensive CRO-specific features found in other tools on this list, it can still serve as a valuable resource for basic analysis and optimisation of conversion rates.

  Key features

  • Comprehensive Data Tracking :
    Google Analytics meticulously tracks website traffic, user behaviour and conversion rates. These insights form the foundation for CRO efforts. Businesses can identify patterns, user bottlenecks and high-performing areas.

  • Real-Time Reporting :
    Access to real-time data is invaluable for CRO efforts. Monitor current website activity, user interactions, and campaign performance as they unfold. This immediate feedback empowers businesses to make instant adjustments, optimising web elements and content for maximum conversions.

  • User flow analysis
    Visualise and understand how visitors navigate through your website. It provides insights into the paths users take as they move from one page to another, helping you identify the most common routes and potential drop-off points in the user journey.

  • Event-based tracking :
    GA4’s event-based reporting offers greater flexibility and accuracy in data collection. By tracking various interactions, including video views and checkout processes, businesses can gather more precise insights into user behaviour. 

  • Funnels :
    GA4 offers multistep funnels, path analysis, custom metrics that integrate with audience segments. These user behaviour insights help businesses to tailor their websites, marketing campaigns and user experiences.

  Pros

  • Flexible audience management across products, regions or brands allow businesses to analyse data from multiple source properties. 
  • Google Analytics integrates with other Google services and third-party platforms. This enables a comprehensive view of online activities.
  • Free to use, although enterprises may need to switch to the paid version to accommodate higher data volumes.

  Cons

  • Google Analytics raises privacy concerns, primarily due to its tracking capabilities and the extensive data it collects.
  • Limitations imposed by thresholding can significantly hinder efforts to enhance user experience and boost conversions effectively.
  • Property and sampling limits exist. This creates problems when you’re dealing with extensive datasets or high-traffic websites. 
  • The interface is difficult to navigate and configure, resulting in a steep learning curve.

  3. Contentsquare

  

  Contentsquare is a web analytics and CRO platform. It stands out for its in-depth behavioural analytics. Contentsquare offers detailed data on how users interact with websites and mobile applications.

  Key features

  • Heatmaps and Session Replays :
    Users can visualise website interactions through heatmaps, highlighting popular areas and drop-offs. Session replay features enable the playback of user sessions. These provide in-depth insights into individual user experiences.

  • Conversion Funnel Analysis :
    Contentsquare tracks users through conversion funnels, identifying where users drop off during conversion. This helps in optimising the user journey and increasing conversion rates.

  • Segmentation and Personalisation :
    Businesses can segment their audience based on various criteria. Segments help create personalised experiences, tailoring content and offers to specific user groups.

  • Integration Capabilities :
    Contentsquare integrates with various third-party tools and platforms, enhancing its functionality and allowing businesses to leverage their existing tech stack.

  Pros

  • Comprehensive support and resources.
  • User-friendly interface.
  • Personalisation capabilities.

  Cons

  • High price point.
  • Steep learning curve.

  4. Hotjar

  

  Hotjar is a robust tool designed to unravel user behaviour intricacies. With its array of features including visual heatmaps, session recordings and surveys, it goes beyond just identifying popular areas and drop-offs.

  Hotjar provides direct feedback and offers an intuitive interface, enabling seamless experience optimisation.

  Key features

  • Heatmaps :
    Hotjar provides visual heatmaps that display user interactions on your website. Heatmaps show where users click, scroll, and how far they read. This feature helps identify popular areas and points of abandonment.

  • Session Recordings :
    Hotjar allows you to record user sessions and watch real interactions on your site. This insight is invaluable for understanding user behaviour and identifying usability issues.

  • Surveys and Feedback :
    Hotjar offers on-site surveys and feedback forms that can get triggered based on user behaviour. These tools help collect qualitative data from real users, providing valuable insights.

  • Recruitment Tool :
    Hotjar’s recruitment tool lets you recruit participants from your website for user testing. This feature streamlines the process of finding participants for usability studies.

  • Funnel and Form Analysis :
    Hotjar enables the tracking of user journeys through funnels. It provides insights into where users drop off during the conversion process. It also offers form analysis to optimise form completion rates.

  • User Polls :
    You can create customisable polls to engage with visitors. Gather specific feedback on your website, products, or services.

  Pros

  • Starting at $32 per month, Hotjar is a cost-effective solution for most businesses. 
  • Hotjar provides a user-friendly interface that is easy for the majority of users to pick up quickly.

  Cons

  • Does not provide traditional web analytics and requires combining with another tool, potentially creating a less streamlined and cohesive user experience, which can complicate conversion rate optimization efforts.
  • Hotjar’s limited integrations can hinder its ability to seamlessly work with other essential tools and platforms, potentially further complicating CRO.

  Comparison Table

  Please note : We aim to keep this table accurate and up to date. However, if you see any inaccuracies or outdated information, please email us at marketing@matomo.org

  To make comparing these tools even easier, we’ve put together a table for you to compare features and price points :

  

  Conclusion

  CRO tools and web analytics are essential for online success. Businesses thrive by investing wisely, understanding user behaviour and using targeted strategies. The key : generate traffic and convert it into leads and customers. The right tools and strategies lead to remarkable conversions and online success. Each click, each interaction, becomes an opportunity to create an engaging user journey. This careful orchestration of data and insight separates thriving businesses from the rest.

  Are you ready to embark on a journey toward improved conversions and enhanced user experiences ? Matomo offers analytics solutions meticulously designed to complement your CRO strategy. Take the next step in your CRO journey. Start your 21-day free trial today—no credit card required.

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