The “how manys” in eCommerce are easy to measure…how many site visitors, how many clicks, how many sales, etc. But it’s our understanding the “whys” that drive success. Why did they visit? Why did they click? Why did they buy?
Until you get wise about the “whys”, it will be difficult to optimize your online business for greater success. Let’s learn more about analytics, KPIs, and their potential impact on your bottom line.
As an owner of an online business, you owe it to yourself to really understand your customers’ behaviors. Your ultimate goal is to create a web experience that entices customers to buy more, right? That’s why evaluating your site activity is critical. It not only provides a better sense of what is happening, but more importantly why it is happening. And it’s this understanding of “why” that can lead to increased conversion rates and improved customer loyalty.
“When DotcomWeavers builds an eCommerce website, the site’s launch is truly just the beginning,” explains Amit Bhaiya, founder and CEO of DotcomWeavers. “As time passes, it is absolutely critical to dive into the site’s activity data to better understand the consumers’ rationale for the steps they’ve taken.”
With this in mind, DotcomWeavers has identified several important tools that can help you begin determining your organization’s key performance indicators (KPIs) and achieving greater success:
• Clicky—By combining historic reporting with real-time monitoring, Clicky is a great tool for gaining insight about your website traffic.
• Crazy Egg—Another solid tool for seeing where people click on your site. Once the Crazy Egg code is on your site, it tracks user behavior and creates a click report.
• Google Analytics—Google Analytics is centered on offering companies insight about marketing effectiveness to digital audiences. It can track website traffic, devices used (desktop, mobile, tablet), browser information, user-location and more.
Before going any further, look back a bit in this article and see if you noticed the word “begin” above (as in “begin determining your organization’s KPIs and achieving greater success”)? This is a really important word when talking about the tools highlighted above. Why? Because these tools are just that…the beginning of your KPI journey. The next step is actually much harder, but significantly more important. It requires that you spend time and energy looking for the “whys” behind your success (or failure).
There’s not enough room in this blog to explain all of the details about uncovering answers to your most significant KPIs, but the examples below provide insight about the effort that’s often required to build a more successful site:
• Think about an online seller that offers a wide variety of products. The seller wants to find out what areas of the site have bolstered sales and increased customer engagement. Knowing how many people clicked on a certain item is good, but it isn’t enough. In this scenario, a tracking filter could be utilized to provide insight about customer behavior. For example, the filter could reveal that most customers viewed a certain item only after seeing a promo on the left side of the home page. That’s intriguing, but what would happen if the promo was moved to the right side of the home page? What if it were bigger or bolder…would that change customer behavior?
• Suppose another online seller wants to analyze the steps in their ordering process. Is it helpful to know the abandonment percentage for each step? Of course, but that only provides a small look at the “what”. To uncover the “why”, this company could customize their analytics to examine the impact of pricing. Did most customers abandon their cart after they found out the price? If so, did they come back later? Did cart abandonment decrease if there was an incentive offered? If so, what was the most effective incentive?
As you can see in these examples, finding the right formula for increased conversions can require a lot of time and trial. Thankfully, when tools like Clicky, Crazy Egg and Google Analytics are combined with event tracking filters, variable analysis, and content experiments, the resulting insight can help you understand so much more than just “what” your customers are doing. You’ll soon be wise about the “whys”.
To speak with a professional about website analysis that drives conversions, contact DotcomWeavers at [email protected] or 888.315.6518.