How to use e-commerce analytics to grow your online business?
E-commerce is one of the fastest-growing industries of this era. There are so many reasons why merchants are heading towards e-commerce business. One of the biggest reasons is that you can target your audience and review their selling activities easily with the help of tools. Companies like E-bay, Amazon, Flipkart, and Myntra have made their name renowned in the market by using effective e-commerce analytics tools and techniques.
If you are ready to open your e-commerce store and have the finest quality based products and services and you have no knowledge of e-commerce analytics, then stop it here. You cannot take your e-commerce business to the next level if you have no idea what’s your profitability, who are your top customers and which of your product sells best? And you will get the idea of these things by utilizing e-commerce analytics tool.
With eCommerce analytics, you have access to vast information, you can track, measure and transform your data as per your understanding. In this blog, we are going to tell you how you use e-commerce analytics tools in your online business. So, let’s get started.
We have divided the working principles of e-commerce analytics tools into stages. So, let’s see how it works.
Buyers have visited your website, now what? Below we have mentioned analytics metrics will help you take advantage of your site traffic when shoppers know about your store and showing interest in it.
1- Visitor Frequency Analysis:
This metric specifies the total number of visits made by users on your website. With the help of this metric, you will know the rate of new users and returning users. Since new users come with a different mindset as compared to returning users, so you have an opportunity to target your audience by creating entrance popups asking for their email address so you can send relevant content as per their wishlist. If you see that your returning users are buying products, make sure to continuously meet and exceed their expectations. Send them rewards and coupons to attract your returning customers.
Stage 2: Marketing channel analysis.
Marketing channels are various groupings of your online traffic sources. Depending on the tools you are using, you can analysis organic, direct search paid search and referrals. When you set up a marketing channel will allow you to quickly analysis where you target your audience effortlessly.
Stage3: Site Search Analysis.
Site search analysis gives you a clear understanding of how visitors use your online store’s search function. This metric will give you a glimpse of your needs and wants of your visitors.
Many eCommerce websites receive high traffic and but lacking off with conversion rates. In this stage, eCommerce analytics will guide how you can increase your conversion rates.
We hope this comprehensive guide on how to use the e-commerce analytics tool will help you a lot. If you are looking for the advanced technology-based tool you can consider savvy cube.