In certain scenarios it may not be possible to detect the actual amount of revenue generated for a sale due to challenges with your data layer or perhaps you don't actually process transactions on site.
That doesn't mean that you can't report on, or optimize for the financial value of site activity in GA though.
In the guide below we show you how to use fixed values in GA events, so if you know that, on average, one in 10 clients who complete a website form coverts to a sale of $500, then you can effectively say that every form completion is worth on average $50 - and armed with that information you can determine what traffic is profitable, and what is not.
For the purposes of this article we have created an event (a lead) and are giving it a value which will allow you to report on, and optimize for, Cost Per Lead.
Steps to follow to put this in place
Login in Google Analytics Account.
Select the respective property and view in which we want to configure cost per lead metric.
Configure event tracking by specifying an event that would be considered as a lead whenever it is triggered.
Go to setting of the account and click on create new goal under the view column and assign a value to the goal to use as potential cost gained by that lead.
As an example, Follow the screenshots below of creating a new goal and assigning value.
Select Custom configuration in Step 1 of Goal Creation
Fill the details and select the type of Goal as event and click continue.
Fill in the event category, event action, event label and event value as per the configuration of the event that is set up to consider as lead generation. If the event value is not assigned when event tracking config is done, then unchecked the option of use Goal Value as event value and specify the value as shown in the screenshot below and click on save.
Note : You can click on verify goal to check if correct data is populated in the goal you are creating.