We have reached an age where data is on our side, allowing us to come up with well- informed decisions. This is especially true for businesses in the eCommerce sector. But before you can come up with decisions backed up with data, you should first analyze it intensively.
There are many different ways for which you may use the many forms of analytics available to come up with relevant information that can aid you in your decision-making process. There are also many variables at play, and what you should tap will depend on what results you are hoping to achieve.
Studies estimate that as much as 50 million websites make use of analytics, but not all of them can maximize it. A greater understanding of how analytics is done, and what it can do can help businesses make the most out of it.
Here are five ways on how different analytics approaches can help generate sales for eCommerce businesses:
1. Use Your Social Media Channels
Like a lot of eCommerce businesses, you are also bound to have the presence on the social media scene. Social media has, for time and time again, proven that it is an excellent platform for various marketing purposes. It is no wonder that a lot of businesses have robust social ecommerce marketing strategies that they do invest time and effort in executing.
But aside from just making use of social media as a channel for advertising, there are actually a lot of analytics tools for social media that you can make use of. Among those that you should check are the following:
● Assess which among your social media channels are bringing in more conversions. Aside from just strengthening those that are doing well, you should also dig more in-depth as to what challenges are being faced by poor- performing channels. By bettering yourself on both ends, you will be able to maximize your future sales.
● Determine what activities are done by users directed to your site by your social media ads. For one, Facebook Pixel can track activities done by users directed to your site by Facebook. You will be able to tell what your ads can do. You will then make adjustments where necessary for more conversions to come into fruition.
2. Compare Segments Of Your Data Analytics
Google analytics allows you to group your audience into segments. This will enable you to dig deeper into these segments and yield results that are specific to each of these. You should be able to understand that your audience is not just one homogenous body, it is composed of different kinds of people that react to your various strategies in different ways too.
Analytics has different segments that you can use to categorize your audience. This allows you to select which is more applicable to the kind of analytics that you would want to do. Take your time to understand these segments and always make sure that you practice segmentation as you do ecommerce analytics.
3. Use Demographics To Find Your Target Audience
While it was discussed earlier how Google has its segments, segmentation should be practiced even outside of it. Again, the most common segmentation is by demographic profile. There’s age, gender, educational attainment, income level, and other demographic considerations which all have an effect on what strategies appeal to them, and to what their purchasing behavior is. It’s great to have a good grasp of the demographics of your audience and to tap them effectively.
But of course, you should also consider psychographics. By doing so, you will have holistic analytics which will enable you to craft comprehensive strategies and decisions to reach your target audience and generate better leads.
4. Determine What Pages Produce Conversion Rates
You should also scrutinize which among your eCommerce site’s pages make the highest conversion rates as compared to the others. Although you should also see which among your pages are earning more traffic, what really matters is which is driving in conversions as this is the ultimate goal anyway.
Aside from conversions and traffic, you should also be knowledgeable of other metrics such as bounce rates, the time spent on your different pages, and the entire journey that your customers have taken your site.
By understanding these metrics, you will know what’s right and what’s wrong about a particular page, and you can then use this information to understand what you should do to your pages, allowing you to strategize how you can encourage better conversions.
5. Track Your Mobile Traffic
Since there is an undeniably growing traffic from mobile, you should keep your eyes on traffic that you can generate from mobile users. You should also come up with analytics that is specially made for your mobile traffic. While the same segments that are present in desktop traffic also exist in mobile, perhaps the need to separate stem for the difference in intent that a mobile searcher has. Studies have shown that mobile users dwell more in the information search as compared to actual transactions. This may affect the results of your analytics, so it’s best to separate them.
Aside from analyzing mobile users separately, you should do make sure that you optimize for them. Optimization for mobile is essential as search engines put a lot of significance to it, going as far as prioritizing mobile sites for ranking purposes. With this in mind, make sure to optimize your eCommerce site for mobile so that you can also boost your conversions.
Maximize Your eCommerce Sales Through Analytics
Learning more about your eCommerce analytics can help your business to grow. It can tell you how your site, your campaigns, and your strategies perform. With this knowledge, you will be able to assess what factors are affecting your sales performance, and how you can do better than how you are currently doing.
True enough, it is great that we are in the age of data for e-commerce stores. We only need to spend time and effort in maximizing the use of these data sources in order for our business to benefit from it in e-commerce.
I hope you enjoyed this blog post about how to use e-commerce analytics to generate more leads and sales online and offline.