How to Use Ecommerce Analytics to Boost Online Store Sales
Do you own an ecommerce business and want to boost your online store sales? As an ecommerce business owner, you have access to valuable insights from your customers and competitors that you can analyze and utilize to boost sales. Yet, many businesses don’t spend time researching this information to use it to their advantage. Read on to discover how to increase online store sales with ecommerce analytics.
What Are Ecommerce Analytics?
Ecommerce analytics is the process of gathering data about your online store to understand consumer behavior and trends so you can make data-driven decisions. With the help of ecommerce tracking tools, you can easily review all aspects that impact your online stores. Explore demographics, monthly visits, and traffic sources with ecommerce analytics to gain an understanding of trends and consumer behaviors that will skyrocket your online sales.
Why Are Ecommerce Analytics Important?
Using ecommerce analytics can take you from zero to hero. Check out these top reasons why ecommerce analytics matter.
Understand the Needs of Your Customers
You can analyze your ecommerce data to better understand consumer behavior. You’ll learn what consumers look for and spend their money on. You can adapt your ecommerce strategy to meet those demands and offer exactly what your customers want. Ecommerce analytics can also help keep consumers’ needs at the forefront of their minds when choosing online store products.
Optimize User Experience
Analyze visitor activities on your website and view which content appeals to them to keep engagement high. Data will show you areas of the website where visitors tend to click off. Perhaps some pages perform better than others. See what works (and what doesn’t) and optimize your channels accordingly. By creating a website that’s easy-to-navigate with attractive features, you can improve user experience based on these analytics.
Learn What Works (and What Doesn’t)
Explore what works and what doesn’t by identifying best-sellers and promoting those products. On the other hand, you can also identify items that aren’t doing so well and discover why. Understanding the reasoning behind why some items sell better than others gives great insights into what to offer to your consumers — an excellent perk of ecommerce analytics.
Get Inspiration for Product Development
Understand what consumers like and dislike for product development ideas.
Optimize Your Marketing Strategy
Are your ads attracting your target audience? You can try A/B testing to see which ads perform better than others. View the results via your ecommerce analytics. Then adapt your campaigns so that you don’t waste money on ads that are not maximizing ROAS (return on ad spend).
Better Manage Inventory
In terms of management, you will have more control over your ecommerce inventory as you can see when products need restocking and plan ahead for upcoming holidays and events.
5 Ways to Use Ecommerce Analytics
Ecommerce analytics tools show you how to optimize your online store and boost sales. Just a few simple tricks can make all the difference in turning your ecommerce strategy into a success:
Find Your Target Audience
Who will ultimately want to buy your product? By identifying your customer base, you can target that demographic in your marketing campaigns. You can view your own insights, through tools like Google Analytics. Find out where your customers live, which languages they speak, their gender, their age. You can even find out their interests. Then you can adapt product offerings and marketing tactics to meet the demands of your target audience.
View Search Keyword Sources
When a customer wants to find a certain product or service, they’ll often go to Google and type in a keyword phrase. They might look for “black strappy sandals”, “camping gear”, “new phone”, and so on. Search engines, like Google, will then display the search results of websites that contain those keywords.
With that in mind, you want to make sure your online store contains the relevant keywords that will guide the right customers to your website. What are you selling? Make sure you include those phrases on your website. That way your customers can find you when they search for your products.
You can also use ecommerce analytics to see which keywords lead customers to your page. You can increase the usage of the best performing keywords within your content to rank even higher on Google. Include variations of similar keywords, like “black sandals”, “black heels”, or “black shoes” to expand visibility.
Decide Where to Advertise on Social Media
Social media, Google searches, ads campaigns—The best ecommerce apps reveal which traffic sources attract the most visitors to your website. Differentiate direct and social traffic sources then see which platform attracts more customers. Focus on advertising and putting more energy into the most successful platform. Does Instagram attract more customers than Facebook? If it does, focus on this channel. You can also see how well a social campaign performs by measuring data, which not only benefits your current strategy but also influences future campaigns.
Use Competitor Data to Improve Your Sales Techniques
What are successful online stores doing to sell their products? Find out what works for other stores with business intelligence apps like Koala Inspector. The Shopify inspector Shop Traffic feature by Koala Apps reveals customer data from any Shopify shop. You’ll instantly learn about your competitors’ customers—where they live, what languages they speak, how old they are. You can then adapt your sales techniques to reach those same customers to increase sales at your online store.
Discover Your Best-Selling Products
Which products are your best-sellers? You want to make sure you keep a full inventory of your best-selling products (so you never run out). Identify best-sellers and promote these through ads, emails, and social platforms. You can also adapt product development based on which products sell better than others.
Pro tip: Add best-sellers to Facebook’s ‘offer’ tool to target popular products.
Ecommerce analytics give you key insights to improve your sales funnel and promote best-selling products at your online store. You can use your own store’s analytics to see what works (and what doesn’t), or keep an eye on Shopify competitors.
The Koala Inspector Shop Traffic feature enables competitor tracking so you can instantly see data of successful Shopify stores. Get business intelligence for Shopify stores. Download Koala Inspector and reveal all of the secrets behind every Shopify competitor.