There is a quote in Ecommerce: “You don’t have to outsell your competition today. You just have to outsell yourself tomorrow”. That’s true. If you can do that, the more sale you will earn, the more loyal the customer you will have. Obviously, you will win in Ecommerce business. So the question, how to conquer yourself? Before considering other kinds of stuff, you should focus on your own business. To do that, you have to understand and analyze your business situation, so that you can have reactions to rocket your sale. What should you need to know when using analytic tool for Ecommerce and create reports? The answer is revealed right below.
15 Things Your Boss Wishes You Knew About Analytic Tool For Ecommerce Stores
Obviously, visitors play an important role in your Ecommerce store. There is no visitor, there will be no revenue. So this is the first element you should focus on the analytic tool for Ecommerce website. Apparently, your boss will ask you what are they, how old are they, how many customers in this month, how much they increase, how are they, and a lot of data related with the audience.
2. Total Orders
The next metric in the analytic tool for Ecommerce your boss definitely care is the total number of orders. It is completely easy to understand that this figure reflects your business health. The more orders customers make, the more revenue your business grow. So please take notice of this number in the report.
Like the second metric, revenue is also considered on the report. The metric presents how much your online business earn directly. From this statistic, you can report the revenue quickly to your boss without complicated calculations.
Have a look at this image:
When generating reports, the most insightful undoubtedly is the conversion rate. The more conversion rate is, the more developed your business is. For a more detailed explanation, the growth of your business in general, the success of your marketing campaign in especially, will be indicated via how much the conversion rate is.
5. Cart Abandonment
Launching Ecommerce website cannot ignore the number of abandoned carts. Your boss might need to know how many carts are dropped monthly, hence you should pay attention to it in order to minimize this quantity.
6. Lost Revenue
Same with the abandoned cart, how much revenue is lost will attract your notice. The more revenue your store drop, the more attention you should pay. It is the truth when your boss and even you do not want to see this figure, especially if it is higher than the revenue metric.
One of the necessary parts in the analytic tool for Ecommerce site is traffic. You might want to find out where your customers come from, how many traffic you have per month and so on.
Therefore, in a report, you should point out:
- The traffic sources have the highest conversion rates
- Which traffic sources generate the most revenues
- From which traffic source the most sales come from
8. Product Performance
Certainly, there will be several products having a higher demand than others, hence they need to be tracked dedicatedly.
There are some questions you should answer when using analytic tool for Ecommerce, for instance:
- How much do products earn?
- The best effective products?
- Which is higher than the average of your website
- The product has a higher conversion rate?
9. View to buy
This figure also plays a vital role in your report. It presents the number of customers’ view
10. Visit to buy
You definitely need to report how many visits per customer to create a conversion. From that statistic, you can have data to make your remarketing campaign efficiently.
11. Date to buy
With Date to buy metric, the marketing team and the directors can be acknowledged of the number of days a client spent for a purchase. Then, the business team is able to have an appropriate marketing strategy at the suitable circumstance.
Keywords are the main factor in search engine optimization, so you need to pay high attention to this element in your report. With good-choice keyword, your product page, even your website will get higher ranking on Google. Therefore, please take notice of Keywords, because your boss absolutely cares about the website’s ranking.
13. Exit page
You might want to ignore the Exit page, but please should not do that. The exit page figure focuses on the exit rates. Using Ecomfit, the analytic tool for Ecommerce site will display the page having the most exit rate with the number of views, exit and exit rate.
14. Bounce rate
As you can see in this picture above, you should find out which URLs have a high or low bounce rate. From that, your team can have plans to optimize your product page or landing page.
15. Loading Slow Page
Similar to the bounce rate, this metric explains which URLs are loading slowly with loading time and exit rate, then you can find out solutions to optimize them.
So, here are all the tips to help you prepare the useful reports. When taking advantages of this useful analytic tool for Ecommerce stores, you can make an outstanding marketing campaign and boost your business sale. Certainly, when your business revenue increases, your boss will be satisfied with your marketing team!
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