Goal Completion Rate (GCR)

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A Goal Completion Rate (GCR) is a Web Analytics Metric that quantifies the proportion of visitors who accomplish a predetermined goal out of the total number of visitors to a site.

  • Context:
    • It can quantify the effectiveness of a website in achieving specific objectives, such as signing up for a trial or subscribing to a mailing list.
    • It can serve as a critical measure in website optimization, digital marketing campaigns, and A/B testing to improve user engagement and conversion rates.
    • It can be calculated using the formula: (Number of visitors who completed a goal / Total website visitors) * 100.
    • It can vary significantly across different industries and campaigns, with no standardized "good" rate, emphasizing the importance of setting specific, measurable goals tailored to each business's unique objectives.
    • It can be visualized through various methods, such as line charts, to monitor trends over time and adjust strategies accordingly.
  • Example(s):
    • A Chatbot Goal Completion Rate,
    • A website receiving 500 visitors where 100 sign up for a trial has a GCR of 20%.
    • Digital marketing dashboards utilizing GCR alongside other KPIs like return on marketing investment for comprehensive performance analysis.
    • ...
  • Counter-Example(s):
  • See: Conversion Rate, Customer Acquisition Cost, Bounce Rate, Pageviews per Session, Returning Visitors, User Experience (UX), Conversion Rate Optimization (CRO), Key Performance Indicator (KPI).


References

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  • (DashThis, 2024) ⇒ https://dashthis.com/blog/what-is-a-goal-completion-rate-and-how-to-calculate-it/ Retrieved: 2024-03-03.
    • QUOTE: What is goal completion rate? Goal completion rate (GCR) shows the level of optimization on your site, your fulfillment of KPIs, and your ability to achieve business goals. Essentially, it measures how many of your visitors completed specific goals you set out for your company, all related to increasing sales, driving growth, and improving engagement.

      The number of people you can convert on any number of goals, the more you will be able to grow the business. It is also used frequently in a/b testing to determine which email subject lines, landing page visuals, or marketing tools are more effective and which ones show a low completion rate. This can significantly inform a social media or marketing strategy moving forward.

2022