What is Event Value?

Event value is a metric assigned to specific user interactions or events on a website to quantify their importance or worth.

Assigning a monetary or point value to events helps in evaluating their contribution towards achieving website goals and can be used to measure ROI from different actions taken by users on the site.

How it works

Let's pretend that you run a content marketing agency and you sell a variety of different packages for your services.

But before a lead can become a customer, they first need to fill out a form on your website and request a free consultation. You know that roughly 1 out of 20 leads becomes a customer and the average lifetime value of a customer is $5,000.

In this case, each lead is worth about $250 (1 / 20 * $5,000).

So when setting up a custom event for "Request Consultation," you can assign an event value of $250. This will enable you to use website analytics to figure out the ROI of various marketing campaigns when measured against the event value of $250.