What use is it to track your Amazon events if you don’t know the amount of revenue those links generate for you? Well, today we are going to cover adding valuation to the links you track to allow you to track a click to revenue ratio.
Additionally valuable in performing this evaluation and configuration is learning the approximate value of a click through to Amazon or another affiliate. Since each link doesn’t result in a sale you are tracking based on the bulk evaluation of sales to clicks, preferably over 3+ months for a better valuation.
Note: This Requires The Completion Of Previous Link Tracking (CLICK HERE)
Adding Goal Tracking To Google Analytics
- Select Admin
- Select All Web Site Data
- Click On [ Goals ]
- Follow [ Creating Goal ]
Creating Goal – Amazon
We are going to build a custom goal that will look at the events coming in and if they have specific words in their URL it will use them to add value to the goal calculation.
- Click on [ New Goal ] Button
- Goal Setup [ Screenshot ]
- Click [ Custom ]
- Click [ Continue ]
- Goal Description [ Screenshot ]
- Name [ Amazon Affiliate Sales ] (Rename Depending On Need)
- Choose [ Event ] Radio Button
- Click [ Continue ]
- Goal Details [ Screenshot ]
- Set [ Action ] to [ Regular Expression ] from Drop Down
- In The [ Action ] Text Box Add The Following (without quotes)
- On the [ Use the Event value as the Goal Value for the conversion ] click No
- Open Amazon Affiliate Window
- Make sure when calculating you use only the tags from your website as each niche will be different.
- Add Your Value Per Click As Explained Below
- Click [ Verify this Goal ] if you have made click in the last 7 days to see what it would present to you. (not important but lets you know it is seeing the URLs and you haven’t mistyped something.)
- Click [ Save ]
This means you are now all configured to start seeing the goals data for your site in Google Analytics (I would suggest installing the phone app as you can see your goals listed there if interested).
Estimating Affiliate Value Per Click
Why would you want to figure out the amount of money generated per click? Well as the above setup shows you can’t track if the actual purchase is made so instead the next best quality metric would be to convert revenue generate by clicks sent to the site.
While this is pretty easy to set up over time you will want to re-visit this calculation to ensure the value is still close or if it has gone up or down. Since affiliate sales can be variable this is why you measure over as long a timeframe as you can to make a more standardized value per click on your website.
The Way To Find This Value:
Take total sales over time divided by the total clicks listed in Amazon (or another affiliate) to get an approximate click to revenue figure.
Let’s say I have 78 clicks over 3 months (all the data I have) and the amount of revenue generated is $25.50. Then you would do the below to find the value for tracking through goals.
25.50 / 75 = .327 cents per click
So the value of my click comes in around 33 cents per click delivered to Amazon, now depending on your niche and amount of traffic and page build this could be higher or lower, what I presented was just an example.
Today we used the previous setup of Google Tag Manager to track events sent to our Google Analytics to start tracking valuation on those links. This better allows you to see at a glance without looking in Amazon approximately where the trend would put you as to money generated from sales.
Obviously, since this isn’t Amazon it is not a fixed point and is an approximation of the generated revenue, but since you have no other simple way to look this can be helpful to know how you are doing at a glance during the day or month when you check analytics.
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