Each business has its specific glossary of terms, and e-commerce is not an exception. People who don’t work in that career cannot easily understand them. We rarely find terminologies on regular dictionaries, and the words for analytics tools are even harder to look for.
For that reason, we bring you the ultimate glossary of terms about analytics tool for Ecommerce.
Before you read, you can go to Ecomfit website to know what analytics tools for Ecommerce means.
Average Time on Site (AToS)
The average time on site is one of the critical factors that you need to consider precisely on analysis of Ecommerce web pages.
It means the average time that customers spend on surfing the site of the products.
So if the products are attractive to the customer, the value of the average time will be high.
Average time on a home pages
Bounce Rate (BR)
This measures the percentage of web visitor who moves away without visiting other pages of the website.
If the bounce rate is high, it means your product or your website doesn’t have enough information that can keep them to continue to see the other pages.
This rate refers to the number of successful sales per views of the details of the products.
Buy-to-Detail Rate = Total Purchases of a product / Product Detail Pageviews.
By collecting and analyzing customer data from many channels, we can have an appropriate advertisement for targeted customers.
This work contributes to marketing plans. The data we can get from the searching tool, the website view or the comment on a site.
A basic closed loop marketing
Cohort analysis gives us detailed information about customer behavior, then combine with closed-loop marketing to make a long-term marketing campaign.
Customer Relationship Management (CRM)
CRM is the tool to help the seller to analyze their visitor’s activities, taking care and improving a good relationship with their customers.
The CRM provides customer contacts, customer service, and some technical support through the telephone, live chat, or direct mail.
Click Through Rate (CTR)
This rate defines the times that visitors click on an ad through the web pages, so a high CTR means the advertisement on the websites is attractive.
CTR is an essential value determining if the marketing campaign is successful or not.
Ecomfit Analytics and Promotion
Ecomfit is a website analytics tool for Ecommerce websites, which helps website owners make informed decisions based on data and optimize conversion in an easy way.
Payment channel rate
The Payment channel rate allows you to evaluate the points at which users ignore the payment process.
If you find that most users leave the site in the first step, you can consider adding a payment option of logging in with Google or Facebook account.
This solution will create a more engaging experience for buyers who don’t want to create another account.
Product list rate
The rate of product list performance tells you how individual listing and product work together.
You can use the Product List Location as the primary aspect to analyze which the best selling of the product list is.
To sum up,
All the terms above are in the ultimate glossary of terms about analytics tool for Ecommerce.
If you want to joins this career in the future, you should remember these terms as a part of your knowledge.
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