Ecommerce Analytics vital for online business success. What KPIs to track? What metrics really measure business performance?
Importing new products and editing the existing in Magento sucks. It’s ok, you can admit it.
I doubt anyone enjoys exporting and importing files back and forth. It takes SO MUCH TIME.
It’s a huge and dreary task, yet you can’t do it sloppily – SEO, customer experience, conversions, all depend to a large extent on product descriptions and details.
Conversion funnels are one of these concepts that everyone knows about and uses, but doesn’t explore in detail. Every online store has a conversion funnel in place and yet we rarely break it down to the core.
Why should we? Because that’s probably the most important mechanism you use for getting sales – advertising, on-site-experience, engagement and remarketing are all parts of this process.
In this article, we break down examples of eCommerce conversion funnels and show you what to look for at each stage. This process should be a major part of the eCommerce performance analysis and reporting you do. This way, you’ll not just detect when something breaks but catch the particular part of the funnel that’s underperforming.
Analyzing eCommerce data sounds scary and discouraging. You probably don’t want to spend your days looking at trend charts, you want revenue coming in.
One eCommerce business owner told me once that he only started looking at his performance numbers when he got a family and had to be more responsible. Well, it’s a miracle his business even survived.
Ecommerce data analysis shows everything that’s working and not working with your online store. Without it, you’re driving with your eyes closed. That’s scarier than some numbers and ratios.
One of the fundamental approaches to growth applied by ecommerce businesses is the AARRR framework. Entrepreneurs stick to it because it’s simple, effective and logical.
AARRR stands for acquisition, activation, retention, referral, revenue. The basic idea is that these 5 aspects are all you need to work on to grow sustainably.
We talked to ecommerce businesses about how they go about those metrics – and found fascinating stories. Now, we’re sharing one of them with you. Let’s see Referrals in action.
Currently, online retail makes up about 8% of the US market while offline holds the rest.
That’s a lot of money still not coming to you, online sellers.
Although we’d like to believe that e-commerce is the only future, studies show that people still like shopping at traditional stores. The best shopping experience still happens offline:
Amazing customer experience is the single most powerful thing you can do if you want to build a successful online store.
Developing a customer retention program based on outstanding customer experience will channel your resources to delighting your existing customers, rather than slipping into an acquisition nightmare.
People buy experiences, status, feelings, not products. We explore how customer intelligence influences the customer experience people get in depth here. The probability of selling to an existing customer is 60 – 70%. What’s your average conversion rate? 10%?
Let’s work on that retention program!