I have optimized my websites using goggles analytics and PPC to drive traffic, now I am looking to take the next step and switch to conversions and utilize goggles CPC and track conversions. Is this an effective strategy? How important would this be? It makes sense but curious to hear about real life results? Thanks in advance.
Dunno about goggles, but using google to increase your conversions is a good idea If you've got traffic coming through already then your best way forward would be to optimise your conversion levels before you hit adwords - that way you'll make more profit. make sure you set Goals in your analytics for your buying process - use this to find out where and when people are leaving your buying funnel and then take appropriate measures. Also look at your click overlay to see where people are clicking and use this to nyour advantage. Once you're done, then go for adwords and make sure you link your adwords account to your analytics...
That's the next logical step as far as I'm concerned. Also you'll want to get the visitor value metric - i.e. how much each visitor is worth. (Google it). Once you have this then you have the exact amount you can bid on for each keyword. So if your VV is $1.65 (per visitor) then you must keep all bids under this to be in profit, per click. Also, once you're at a good level for conversions (aim for 3%) start advertising on affiliate networks and recruit affiliates. Let the affiliates/publishers do the advertising for you. You're only cost then is paying commissions. But again test the metrics here and see what you should be paying out for commissions. but in some situations that would be taking things a little too far in my opinion.