Are you regularly diving deep into your data with an ecommerce report? Many businesses tend to neglect their reporting so long as their revenue stays on that upward green path.
But what if I told you that just because you aren’t losing money doesn’t mean you aren’t leaving money on the table.
What is Ecommerce Analysis?
Ecommerce website analysis is the process of analysing and testing an ecommerce site’s performance to improve the experience for visitors and customers and ultimately increase your revenue.
Ecommerce analytics provide you with data-driven insights into how shoppers interact with your site - both good and bad. This information takes the guesswork and subjectivity from website optimisation and uncovers opportunities for improvement and innovation.
Reporting is an integral part of owning and running your Shopify Store. Still, with the endless amount of data available to you, it can be challenging to determine what information should be focused on.
What should be included in an ecommerce report?
- LTV (CLV)
- Conversion Rate
- Cart Abandonment
- Bounce Rate
- New vs Returning Customers
- Traffic Sources and Revenue
- Net Profit
- Average Page Views and Time on Site
What is enhanced ecommerce reporting analytics?
Google Analytics Enhanced ecommerce reporting allows you to collect data related to ecommerce transactions: item data, impression data, product data, promotion data, and action data. This information gives you a snapshot of your company’s health by providing an overarching view of how visitors interact with your ecommerce website.
With Google Analytics Enhanced ecommerce tracking properly installed, you’ll be able to observe user engagement actions and metrics like these:
- Campaign views
- Campaign clicks
- Product views
- Product clicks
- Product detail page views
- Shopping cart additions
- Shopping cart changes
- Shopping cart abandonment
- Coupon code activity
- Purchase activity
- Refund requests
- Average order value (AOV) and other metrics
Prior to Enhanced ecommerce reporting, you would be hard-pressed to see activity occurring before a sale was made. With Enhanced ecommerce reporting, a holistic vision of the path to sales is accessible to all who take the time and make the effort to analyse the data.
The enhanced ecommerce report provides you with a number of insightful and actionable reports that allow you to see the overall state of your business.
What is google analytics ecommerce tracking?
Ecommerce tracking is the ability to track your customers’ purchases on your website from Google Analytics. It helps determine how your users navigate your website and on which pages they converted.
It allows you to understand which sources generate the most conversions, so you know where to double-down on your optimisation efforts and where to let it ride.
Ecommerce tracking empowers marketers to accurately tie sales data with website activity and user behaviour.
For example, setting up ecommerce tracking in Google Analytics enables users to analyse top-performing traffic sources that are driving revenue as well as identify underperforming products that would benefit from discounts or sales promotions.
How is ecommerce data used?
Data can be extremely important to ecommerce merchants, as it helps them understand their customers better and generate more revenue. There are many ways a merchant can use data in its business. Here are 10 of them.
- Analyse traffic in real-time to determine the pages and products that are the most popular.
- Track success of promotions and tweak them (if required) by monitoring in real-time the promotion codes used.
- Conduct A/B testing on conversions and usability and get instant results. Provide more visibility to the customers by implementing real-time inventory checks.
- Adjust prices on the fly, and beat competitors’ by dynamically checking their prices.
- Introduce a new feature, like product videos, and monitor activity to determine if it is a hit with the shoppers.
- Implement personalisation on the site, to target shoppers for higher conversions.
- Enable event-driven offers by tracking customers and their activity. Support not just text search but also image search by implementing image-likeness in real-time.
- Monitor customer search activity on the site and offer assistance if they are having difficulty in finding the product.
Have more questions about ecommerce tracking and reporting? Talk to our team about how this can help you grow your Shopify business today.
Get in touch with us to get the conversation started