9 Ecommerce Reports to Leverage This Holiday Season

Transcription

1 9 Ecommerce Reports to Leverage This Holiday Season

2 9 Ecommerce Reports to Leverage This Holiday Season According to Goldman Sachs research, digital commerce adoption and expansion is anticipated to further accelerate, with annual growth reaching nearly 17 percent within the next three years. As retailers are trying to capitalize on their growth, it is imperative to understand consumer behavior and leverage data to streamline the online shopping experience. According to the Baymard Institute, a web research company in the UK, 67.45% of online shopping carts are abandoned. This means that for event 100 visitors that you paid top dollars to bring to your website, 67 left without buying a product. If you could lower this number by 5% or by 10%, how much would your revenue increase? There have been many studies about cart abandonment and why people leave the site before they purchase. However, the only true way to get to the bottom of this predicament is with YOUR ANALYTICS % of online shopping carts are abandoned In this e-book, we will share with you 9 Google Analytics ecommerce reports to help you understand potential causes of friction and cart abandonment on your website. The goal of these reports is to help you pinpoint opportunities for driving website conversion rates. Do not rely on generic recommendations and best practices when you have your own data. Use these reports. Note: Some of these reports are only available through the use of Google Analytics Enhanced Ecommerce.

3 1. Simplify or Shorten Your Ecommerce Funnel A lengthy check-out process can give your visitors a lot of time to reconsider. A long process can also get tiring. Do you want to take this chance? To better understand the impact of how people proceed and drop-off, you can leverage the new Shopping Behavior report. This report can help you understand if your checkout process is too long. If your check-out process takes place over a number of pages, this report will show you at what step of the funnel you are losing the most visitors. Shopping Behavior report (Enhanced Ecommerce only) As a next step, you can begin optimizing the individual pages.

4 2. Analyze Site Performance Across Devices One-third of all ecommerce purchases were made on a smartphone during the holiday shopping season (2013). During peak shopping seasons, users have shown their preference for using mobile devices. Ensuring that shoppers have a seamless shopping experience across devices is a big opportunity this holiday season. Compare and analyze the shopping funnel across devices, as shown here. This report will immediately identify what devices are not performing well, and what elements cause lower sales. Shopping Behavior report > Primary Dimension of Device Category (Enhanced Ecommerce only)

5 3. Compare Sales Performance for Registered and Non-registered Users According to Econsultancy, 26% of users abandon a checkout funnel due to having to register before completing a purchase. Another area to examine is who shops more often on your website and buys more per visit registered or non-registered users. Booking.com sells more than 150,000 hotel stays a day without asking visitors to register, so perhaps this is something to consider. Leveraging custom dimensions in Google Analytics allow you to compare ecommerce performance among different user types to better understand the impact of registration on your bottom line. Non-Registered Registered Custom report > Primary Dimension for Registered/Non-Registered User

6 4. Put Your Best Products and Product Lists Forward Even with the best products and merchandising, you still have to think about user experience and location, location, location. Homepage, and category pages are some of the most important pages on the site and you have to carefully consider what products to feature and in what order. Measure and compare the performance of different product list to decide what products to feature on your homepage, and what product lists to promote in your and social media campaigns. Product List Performance report (Enhanced Ecommerce only)

7 5. Leverage On-site Coupons to Drive Sales of Most Profitable Products According to RetailMeNot, 59% of consumers state that out of all the different types of promotions a retailer can employ, digital coupons still sway them the most when it comes to influencing a purchase decision. However, not all coupons are created equal. What is better 50% off or buy one and get one free? What can generate more sales $10 off a $ purchase or $20 off a $ purchase? These questions can be answered by analyzing on-site coupon usage. These reports will show which coupons are your money makers. Order Coupon report (Enhanced Ecommerce only)

8 6. Tracking and Testing Buttons and Other On-page Events The placement, color and text of every button on the website can impact your conversion rates. For example, SAP found that the color orange boosted their conversion rate by over 32.5%. Performable found that the color red boosted their conversion rate by 21%. The best way to measure this and analyze is by using event tracking. Properly tagging each button on your site can help you understand which calls to action should be modified or replaced. Need a new image All Events report On top of that, you can use a tool like Optimizely to A/B test specific button colors or text.

9 7. Measuring and Lowering Time to Purchase The time to purchase report in Google Analytics shows the number of days and number of sessions it takes to purchase. Segment users who are quick to buy versus those who take their time, and identify the differences between these user groups. Perhaps certain promotions are better at brand building and while others are much better at driving immediate sales. According to Avinash Kaushik, As you begin to understand pan-session customer behavior you are actually getting into things beyond the surface, things that most web analytics tools don t provide. Time Lag Multi-Channel Funnels report

10 8. Understand Consumer Journey Through Attribution Modeling A recent Forrester/iProspect study shows that 27 percent of internet users initially respond to display ads by conducting a search on the company, product, or service. This figure jumps to 49 percent when latency is taken into account. This is exactly the type of opportunity attribution modeling can help you uncover. In Google Analytics, there are a number of attribution modeling reports that can help you better understand how different marketing channels impact traffic and website sales. Top Conversion Paths report (Enhanced Ecommerce only)

11 9. Impact of Website Load Speed on Transactions According to the Aberdeen Group, a 1-second delay in page-load time equals 11% fewer page views, a 16% decrease in customer satisfaction, and 7% loss in conversions. Consider how much revenue you can gain by speeding up your site by just 1 second! The Site Speed reports in Google Analytics can show how quickly your pages load from a variety of perspectives (e.g., in different browsers, in different countries and across different devices). Identify areas that need improvement and then tie the improvement to your ecommerce sales and revenue. Site Speed Overview

12 INTERESTED IN IMPLEMENTING ENHANCED ECOMMERCE ON YOUR SITE? DOWNLOAD 8 STEPS FOR SUCCESSFULLY MANAGING AN ENHANCED ECOMMERCE PROJECT BELOW Call us at or visit infotrustllc.com/contact-us DOWNLOAD PDF