Expanding Your E-commerce Store Through Analytics
There are many ways to gain attention online. Doing each will require your undivided time and attention, especially in this era where E-commerce is very competitive.
If you concentrate on the relevant data and analytics, then you will be able to build an amazing E-commerce platform that will make money and make you a leader in its field.
To make your E-commerce site successful in less than a year, use these six tried and true methods!
Continue reading if you are ready to focus and gain knowledge on how to improve your E-commerce production.
1. How Fast Can You Gain Customers?
What is the first thing you expect your customer to do when they visit your site?
- Give you their contact information?
- Use an important software feature on your site?
- Buy a product?
- View your videos?
- Go to a web page connected to your site?
Your objectives change based on the site that the user came from. For instance, a landing page is used to get a specific outcome which is either an instant sale or a way to connect to customers. No matter your aim, you need to know how well your E-commerce store is doing.
Google Analytics can determine your conversion rate by dividing the amount of effective conversion occurrences by the number of visitors to the site. Conversion rates of 3-5% or more are believed to be satisfactory.
2. Learn How to Use Google AdWords
If you want to reach your target audience and pull them to your E-commerce site one of the best software you can utilize is Google Adwords.
Google Adwords is worth it:
- A free document called a ‘keyword planner’ that gives you knowledge that far outreaches your Adwords promotion.
- Aggressive analytics for E-commerce; how much a campaign for CPC for a specific term can reflect how aggressive your industry is.
- Gives insight on how large (or small) your audience is- this is based on how often keywords related to your site are searched on Google.
- Fast delivery of target audiences coming to your site. This is good for split testing.
- Advertising campaigns that are tailored for your budget.
A wealth of information can be accessed on the web, and if your E-commerce site has been on the internet for a while then you will eventually find it!
Embedding the right information into your evaluation of E-commerce will help you to concentrate on things that are going well for you, halt strategies that do absolutely nothing for you and create a better return On investments.
3. Pay Attention to Your Bounce Rate!
One of the most important components to pay attention to is the bounce rate in Google Analytics. This represents the number of persons who visit and leave your site in a short time span after finding you from yahoo, google or other sources.
Bounce rate – It represents the percentage of visitors who enter the site and then leave (“bounce”) rather than continuing to view other pages within the same site.
The Meaning Behind a High Bounce Rate
Having a high Bounce Rate shows:
- Inaccurate phrases and keywords are being ranked with your site. This means that people will not be able to find your website or even find it helpful.
- It is not easy to grasp what your site is solely for and how it can serve your target market.
- There can be a lot of unnecessary connections to your backlink profile and this is collateral from having poor quality promotions from search engine optimization.
4.How to Master Youtube to Increase Sales!
One of the best ways to educate buyers is your YouTube channel. Majority of Millennials use videos to aid in their online shopping.
Making amazing video content and posting it on your site is a fireproof way to increase customer engagement and time spent on the site.
Once you create a specific video and upload it to your business channel, YouTube will give you a myriad of features that will measure the success of your video. You can utilize the ‘Significant Discovery Events’ to garner information for your brand’s videos.
What makes the Youtube engagement important is that it tells you where customers who view your videos originate from. You will also be able to view other platforms that have posted your videos and you will be able to know which sources are viewing your videos.
Evaluating your data will:
- Let you know where your customers research your goods.
- Feature businesses that would be interested in doing affiliate promotion.
- Create a record of successful sites in your field that you can use as a benchmark for your E-commerce store.
- Aid in you replicating other effective videos that will bring insight on how other brands are utilizing this metric.
When you evaluate YouTube’s video metrics for your brand, you can know which videos’ content is working for you and which isn’t. This knowledge can help you in obtaining viewership from your clients and, by using key words and phrases, come up in Google’s video results page.
5. Social Medias’ Help
Social media is a powerful tool to use when marketing your E-commerce site. When a huge online platform posts a new article they would watch to see if it makes rounds on social networking sites, like Facebook and twitter. This aids in cultivating future topics for your articles This can be a very useful strategy.
Shared posts from your social media platform is a significant part of evaluating E-commerce sites. A great E-commerce site will have buttons and tracking systems that can be shared to social networking sites. Having a customer share your content with others is like free promotion for your site.
If certain content on your site is making the rounds on your social media, then you should use this to your advantage and create more content related to that topic. This is free promotion for your consumer’s followers in the guise of tailored suggestions.
Content that is not doing so well should be enhanced or restructured based on the content that is successful on your site.
6.Determine your Cost per Acquisition
As you delve into the wealth of data that Google Analytics offers, you will start to recognize the intricacies and elegance of online marketing. With hard work and a bit of luck, you can start attracting customers.
But as an E-commerce store owner, you should ask yourself “Do I have what it takes to thrive in this business?”
The answer to this question lies on how competitive your field is, the difference between how much you sell your products and how much it took to buy them, your dedication and determination to win.
You need to add all your costs spent on advertising within a set time span and then divide this by the amount of new clients that bought from you in that same time period. This will give you your Cost per Acquisition.
This standard of E-commerce analytics will show:
- Is your CPA doing well or not?
- Will the cost of garnering new customers be covered with their first purchase? Knowing the average number of goods being sold in a single purchase will be needed to determine this.
- Does your budget allow you to purchase more ads?
- Is the speed of which you obtain more customers helping you?
It doesn’t matter the number of customers you have, if you are not earning enough from them. You need to be able to decrease your CPA without losing new customers. This will help you to not only maintain your business but also improve your chances of staying in the competition.