We all have heard of the terms “Google Analytics” and that it is very important for all E-commerce businesses, however, not a lot of people have heard of terms “E-commerce tracking”! The following article will lighten you up with how E-commerce tracking is THE TOOL that will turn your business into profit!
What is E-commerce tracking?
Firstly, E-commerce tracking is a special feature offered by Google Analytics that allows businesses to track all the essential metrics that are related to your online store. How it works is simple, once a user clicks “purchase” on an ecommerce site, that particular user’s information will be sent to the web server, which then carries out the transaction.
People think that simple data are enough for their online sites to survive, however, the online shopping market has become so saturated and competitive that simple tools are no longer enough. What you really need is a tool that can truly understand consumers’ behavior to be able to track performance and push the right metrics which can then lead to profit!
There are a number of metrics available under E-commerce tracking. Here are 6 main metrics and their importance for your E-commerce store:
- Where are your sales coming from? – E-commerce tracking helps you find out whether your sales are coming from Google search, Website, Facebook, Instagram or other channels.
Why is this important?
-This helps you identify where your main target audiences are coming from, which channels are working best and this allows you to focus and budget your marketing accordingly.
- Conversion Rate – This is one of the most important metrics! It helps you find out the number of visitors on your website who makes a purchase.
Why is this important?
-If the conversion rate is very low, this could be because there is something wrong with your website, for example, the design, layout, ease of use and more that needs your attention to improve!
- Cart-Abandonment Rate – This refers to the percentage of online shoppers who added product items to the cart but does not complete the purchasing process.
Why is this important?
-If your cart abandonment rate is high, you can find ways to make consumers finish their purchasing process such as through the use of Remarketing, Conduct emails specifically target those consumers or simply make checking out process easier!
- Average order value – This is the average amount spent by customers on each purchase made from your website.
Why is this important?
Obviously every business wants the average spent by consumers to be high! If your average order value is low, you could raise it by offering “Free postage of orders over $50” or even implement options that recommend products that complement their purchases! This will definitely increase spending!
- Product performance – This is by tracking and understanding how each product on your website is doing.
Why is this important?
Firstly, this allows you to be able to control your stocks based on which products are high on demand. Secondly, this helps with your decision making on which products you should continue selling, promote or remove from your site.
- Time of purchase – Last but not least, the time of purchase can come down to the hour of the day with the highest purchase level from your consumers.
Why is this important?
This metric can help you understand consumer behavior and decide which hours should you spend most money and effort on for marketing purposes such as what is the most effective time of the day to send out email marketing campaigns.
In order to succeed in such a competitive E-commerce market, you must first understand your consumer’s behavior on your website and turn that into profit! also we can help with the SEO of your business to increase organic traffic.
Get your E-commerce tracking setup today! do not hesitate to contact us at Relevant Audience for expert guidance!
