Setting up eCommerce Analytics to See Consumer Behaviour and Sell more Product

Setting up eCommerce Analytics to See Consumer Behaviour and Sell more Product

eCommerce sites have a lot to focus on. Setting up eCommerce analytics can be a step easily forgotten in all the hype. Nonetheless, analytics can help track what products are being viewed and purchased or not purchased, measure transactions, and provide insight into consumer behaviour.

If you’ve just started selling product on an eCommerce site, being able to measure consumer behaviour helps to show what people are buying and what they’re not so much into. If you’re honest in interpreting what you see, eCommerce analytics information can help build or re-develop your catalogue of products. Perhaps you’ll notice a product that’s getting a lot of views and yet, these views are not converting into sales. Or, potentially you’ll see products that are failing to get the sort of leads other products are. All of this data can help you create a more effective eCommerce web design and inform your marketing efforts as well.

The first step on your journey towards eCommerce analytics is in installing your Google Analytics code on your site. To this point, don’t forget to add your eCommerce tracking code to your shopping cart as well. After your analytics code has been put in and you’ve given it time to generate some data, you now have the chance to look and see what’s there. Some of the key metrics you want to pay attention to are the following.

 Conversion rate – the percentage of visits that result in an eCommerce transaction.
 Transactions – a transaction is defined as a purchase order, meaning a customer can buy multiple items in a single transaction and it will count as a single transaction.
 Revenue – when tax and shipping information has been properly set up in Google Analytics, the software can tell you the total revenues your website has generated.
 Average value order – the average order value of a transaction.
 Unique purchases – this is the total number of times any product or set of products have been bought.
 Quantity – this metric marks the total number of units sold for a given product.
 Products SKU – the product SKU is the unique product code used to identify a specific product.

There are also other metrics you can used under ‘enhanced eCommerce tracking’ in Google Analytics.

Shopping Analysis, as an example, provides information on how customers buy your products or services. Looking here, you will find a diagram of the steps a customer has taken to purchase a given item. Shopping Analysis has tremendous value as it can identify where and how many people have abandoned their shopping cart. This way, if a large percentage of shoppers are abandoning at a specific step, maybe there’s something that needs to change.

Product Performance is an analytics report showing the individual products and how they’re performing in terms of quantity, revenue, and price. See how many times products have been viewed, added, and removed from carts, and how often the products have made it through to checkout. There’s also the Marketing report which shows how a promotional eCommerce marketing campaign is working to drive sales. You can also see information relating to product coupons and how these are affecting revenues.

If you’re ready to get set up with eCommerce analytics, contact one of our eCommerce marketing experts at Unlimited Exposure today for more information.