In part one of our Top eCommerce Metrics series, we covered why Page Level Bounce Rate, Keyword & Keyword Phrases, Checkout pages by Technology, Visits by Country, Assisted Conversions are key metrics that eCommerce business need to be tracking.
In this article we will discuss 5 additional metrics that every marketer needs to be tracking to gain rich insights that help drive more revenue.
Goals are tracked achievements for the different engagement touchpoints on your eCommerce site. You can define a series of smaller goals or steps a visitor takes to reach a larger goal. For example, viewing specific product specifications might be smaller goals in the cycle towards purchasing a product.
Why are these important?
When a visitor engages with specific content on your site, such as interacting with a promotional page, watching a video, or purchasing a product, it's crucial to assign these milestones a values so you can track and measure the extent to which your marketing efforts and content succeed. When you identify these goals, you can see the extent to which particular pieces of content drive the most sales and build on those or improve on these ones that are underperforming. You can further drill into this data in the Goals reports in other metrics metrics like Goal Completions, Goal Value, and Goal Conversion Rate.
Age, gender and location are a few of the demographics that can be viewed about visitors based on their browsing history or online form submissions.
Why is this important?
Creating content to relate to your audience is important when creating a marketing strategy. For example, a 60 year old male requires different messaging than a 20 year old female college student so being able to target your content and relate to your audience will drive engagement and revenue.
Acquisition Source: Source / Medium
The acquisition source compares traffic from search, referrals, social media, email, ads, and your marketing campaigns. In the most basic terms, it measures what resource is driving visitors to your site. Search includes sites like Google and Bing whereas referrals could be a website or online forum.
Why is this important?
Evaluating traffic sources can help gauge where you will get the best ROI with your marketing efforts. This can work in a two-fold fashion, if you are already getting a lot of traffic from organic search on Bing, spending ad dollars on Google Ads vs. Bing Ads might be a better use of ad dollars since organic traffic is basically free traffic. On the other hand, if you are seeing a lot of sales from Google organic traffic, spending ad dollars for keywords that you aren't ranking well for, may just be a better strategy because the audience that purchases your type of product offering, may be demographically inclined to use Google.
Benchmarking > Channels
Data collected from your visitors browsing history can be viewed in the Channels Report.
By default, the Business & Industrial vertical is selected, so if your eCommerce store does not fit into this categorization, you will want to make sure that you define the correct option. You can view how many visitors to your site are interested in the types of products you sell, but more importantly, you can view other industries visitors are interested and use this information to help expand your product offerings or consider syncing up with other businesses as an affiliate.
Content Grouping lets you group your websites content into a strategic structure. You can view metrics by a "content grouping" name, and then get see a more granular view by individual URLs within a "content group". For example, you can define a main content group such as "Shoes" and then have subsets of URLs that are under the "Shoes" group (ie: Shoes/Womens) and view the statistics for those individual pages.
Why is this important?
You have the ability to create up to five Content Groupings, each with as many subgroups (Content Groups) as you want. In relation to the above example, say that you were running a large promotion on shoes, you could easily track the performance of these URLs related to your campaign. But don't stop with just product grouping, you can also group your checkout pages, account management pages and marketing pages to gain better insight on your overall successes across the board.
Google Analytics is a fairly decent measuring tool and serves as a great starting point to create specific content, but it doesn't even begin to offer enough insight on customer data to expose which groups of customers should be receiving your email marketing campaigns. Windsor Circle's Analytics dashboard combined within our customer retention software, empowers marketers to make better campaign decisions based on the richest sources of segmented data.
Join over 200 eCommerce sites that are using customer data to drive more sales.