Conversion optimization

Metrics index

Sample data

Visitor count

Total amount of visitors on the sample set.

First event

The timestamp of the first event on the sample set.

Last event

The timestamp of the last event on the sample set.

Average visitor age

The average time between the first visit and the current time for all visitors on the sample set. This can vary a lot, depending on how mature the market segment is.

Sample count

The number of visitors whose age is longer than the average visitor lifetime. We only sample visitors that are mature enough to give the correct retention and conversion numbers.

Anything less than 300 visitors gives you a warning because the sample set is too small for statistically significant results. You must either wait for more visitors to appear or if the visitor count is more than 300, you must wait for the visitors to mature.

Return visitors

Amount of returning visitors not on their first visit.

Landings

Amount of visitors that entered the website through the page.

First-time landings

Amount of first-time visitors that entered the website trough the page. This critical subset of visitors reveals how the page behaves at the top of the conversion funnel (TOFU).

Awareness

3 second stay rate

The percentage of the first-time visitors who stayed on the landing page for 3 seconds or more, which is enough time to form the first impression. If people leave at this stage, something is clearly broken, but the easiest to fix.

7 second stay rate

The percentage of new visitors who paid attention to the content for 7 seconds or more. This should be enough for the person to figure out the problem the product aims to solve. Also known as problem awareness.

15 second stay rate

The percentage of visitors who paid attention to the content for 15 seconds or more. This should be enough for the visitor to figure out how the product solves the presented problem. Also known as solution awareness.

Interest

1 minute engaged rate

This is the percentage of visitors who paid attention to the content for one minute or more. These visitors are clearly interested in the product.

3 minutes engaged rate

The percentage of visitors who paid attention to the content three minutes or more. These visitors are more likely to return in the near future.

Time engaged

The amount of time the person actively spends on a single web page. Other popular terms for this metric are “total time reading,“ (for Medium.com) “attention time,“ or “dwell time.“

Viewports consumed

The number of viewports consumed on a page. A viewport is marked consumed after receiving enough attention so that we can assume that the person had fully read its content. This time depends on the viewport size. Bigger viewports require more time than the smaller viewports.

For example a 1440 × 900 sized viewports requires 15 seconds of engagement.

Continue rate

Percentage of visitors who continued to the next page. This is the inverse of bounce rate, but with a positive meaning. Generally speaking, all metrics should be positive and something you want to increase.

Pages visited

The number of pages visited on a single session. Volument does not count hidden, unvisited browser tabs.

Engagement score

Engagement score tells how effectively a single web page can hold visitor attention. This analytical score is built as follows:

5 points — from staying 7 seconds on the page

10 point — from staying 15 seconds on the page

50 points — for one minute of activity

100 points — for three minutes of activity

100 points — for proceeding to the next page

So when everyone continues to the next page, the score is 100, and if everyone actively engages three minutes on the page and then proceeds to the next page, the score is a hefty 200. A low score, however, means that the experience was somehow wrong, and people leave the site quickly after entering the page.

Desire

Visitor lifetime

Visitor lifetime defines how long (in days) visitors actively interacts with your site before they stop visiting. The longer they are retained, the better. This is the most impactful metric because as you increase visitor lifetime, you will also increase virality and the conversion rates.

When people stay longer, they have more chances to convert and share the product with others, and you have more opportunities to monetize them.

Return rate

The percentage of visitors who came back once or more.

Re-return rate

The percentage of visitors who came back twice or more.

Total visits

The total amount of visits during the visitor lifetime.

Total time engaged

The total amount of seconds the person had been focusing on the content within the visitor lifetime.

Total viewports consumed

The total amount of viewports consumed within the visitor lifetime.

Conversions

Sign-up rate

The percentage of visitors who gave their contact information. Also known as lead conversion rate.

Invite rate

The percentage of visitors who invited other people to the site and contributed to viral growth. These people are converted to promoters. Also known as “evangelists.“

Invitations per visitor

The total amount of invitations made by a visitor.

Friend signup rate

The percentage of the invited peers who accepted the invitation and signed up on the website. Also known as the accept rate.

Viral co-efficient

The number of new sign-ups a visitor generates. If this is 0.5, then each visitor brings in 0.5 new leads. A value greater than one implies exponential growth.

Purchase rate

The percentage of visitors turned into paying customers. Also known as customer conversion rate.

Re-purchase rate

The percentage of visitors who purchased more than once.

Revenue per visitor

The amount of revenue visitors bring during their lifetime.

You can use this metric to sort segments so that the most revenue generating is on the top. Revenue can be a useful “north star metric” for e-commerce sites and mobile applications where the sales cycles are short and where you make a lot of conversions for statistically significant results. Otherwise it's better to use traction.

Traction

Traction is a weighted score from all the metrics in the funnel, and is calculated by summing all the conversions as follows:

1 point — from one minute of engagement

3 points — from three minutes of engagement and becoming a suspect

10 points — for coming back and becoming a return visitor or prospect

5 points — for each additional return visit increasing loyalty

15 points — for signing-up and becoming a lead

15 points — for inviting a peer and becoming a promoter

10 points — for each additional invite

50 points — for making a purchase and becoming a customer

20 points — for making another purchase

The resulting sum varies between 0-100 but can rise above 100 with virally growing businesses, which is extremely rare and most likely temporary.

We also give a human friendly grading for the numeric score as follows:

Grading

  • none (0-10) — no business
  • low (10-20) — no product/market fit
  • some (20-30) — could be better
  • ok (30-40) — solid business
  • good (40-50) — above the average
  • strong (50-60) — exceptionally good business
  • strong+ (70-80) — unicorn level growth
  • viral (80-90) — exponential growth
  • viral+ (90-100) — fastest growing in the world
  • wtf (100+) — shouldn't be possible

Unlike revenue, traction works for everyone:

  • Non-profit organizations,
  • Startups who are not receiving much conversions yet, and
  • SAAS products with a trial period and no statistical signifacnce.

You can also use Traction to compare, and rank startups and organizations against each other.