Conversion Funnel Exercise Examine the following hypothetical conversion funnel
Conversion Funnel Exercise Examine the following hypothetical conversion funnel for the Marriott Hotels website. The Rates & Availability page is the page that comes up after someone does a search for hotel rooms in a particular location and timeframe. Perform the Following Calculations: Calculate the conversion rate. (The conversion rate is usually calculated as the percentage of sessions that result in a conversion. Here, we will calculate the percentage of hotel searches that result in a conversion.) Calculate the three step-to-step micro-conversions. (For example, what percentage of people advance from the Rates & Availability page to the Review Itinerary page?) Calculate the average number of nights per booking. Calculate the average revenue per booking. Calculate the average revenue per night. If you could increase traffic by 10%, how much would revenue increase (assuming the new traffic was of the same character as the current traffic: same conversion rate, same average nights per booking, etc.)? How many more confirmations would result? If you could increase the percentage of those who reviewed the itinerary from 15.65% to 20%, how would the conversion rate be affected? You believe that if you offered a 10% discount on all bookings, the conversion rate would increase to 3.5%. Would this increase or decrease revenue? Extra credit: Would this be a profitable action if the gross margin on bookings (before the 10% discount) is 50%? Which of the three steps in the conversion funnel do you believe should be improved? Think carefully about the hotel booking process and where Marriott Hotels seems to be performing poorly. Even though the first step has the lowest rate, this might just be the nature of hotel searches (meaning lots of people do searches out of curiosity or advanced planning without any intention of booking). Come up with a promotion for Marriott Hotels. Perform a hypothetical analysis of the effect of this promotion. That is, specify how this promotion would affect this month’s traffic, conversion rate (include the specific steps), and revenue. google Analytics Analysis Exercise (Answers found in slides) Sign up for access to the Google Analytics Demo Account at https://analytics.google.com/analytics/web/demoAccount (Links to an external site.) . Once you have accessed the account, change the data range to: March 1, 2022 to March 31, 2022. UPDATE: USE ANALYTICS FOR FLOOD-IT (https://analytics.google.com/analytics/web/#/p153293282/reports/intelligenthome (Links to an external site.) )