Enhance sales and profit with eCommerce analysis
eCommerce data analysis provides everything that’s working and not working with your online store. Without it, you’re moving with your eyes closed. So we offer you a few ready reports and help you begin using the conclusions you’re making on the data.
Analyzing eCommerce data is very fearful and discouraging. You don’t want to spend your precious time at trend charts, and you want revenue coming in.
In brand performance, less is more. While all sorts of things can be tracked, measured and benchmarked, the truth is it’s not essential because all businesses are different and there will be no comparison.
Usually, clients don’t try to do everything at once. Instead, they work on very few metrics that lead in the suitable direction.
In the first 3 months after the execution of its analytics solution, International retail chain Macy’s recorded an 8–12% growth in online conversions. This was done by a strategic combination of analyzing consumers’ browsing patterns within various product categories and sending targeted promotional email campaigns to various customer segments.
Few essential metrics
Here are some essential metrics:-
Acquisition costs
When you keep prices under control on all acquisition channels, growth is sustainable, and you’re gaining profits from the first sale.
Optimizing your marketing spend can’t be performed without this metric. In essence, you’ll never know what efforts are reasonable and where you’re simply flushing money down the drain. Stubbornly adhering to a specific platform because that is what others do is a chance of failure.
Conversion rate
Conversion rate is the most important metric that tells you how well you turn visitors into consumers. How well the whole procedure – targeting, acquisition, and experience on-site – work together.
If traffic is less today, your brand is not down – in fact, the conversion rate might stay unchanged. And on the other hand, if you have more than 100k followers, it doesn’t mean you have the same number of consumers.
Customer behavior
People who do shopping from your store validate their presence in your target audience and their suggestion matters. You want to sell more to them and consumers like them.
You should know what is right for them, and what goes unnoticed, what items they’re interested in, what information they want to know before ordering and how long they take to make a choice.
You’re in business because of your consumers. To provide them with the best customer experience possible, you should keep an eye on how they interact with the website and consistently improve.
Customer retention
Coming from consumer behaviour, retention is what helps you to manage people as your customers. A straightforward ratio – between the latest and the returning consumers you have – can identify a few issues.
New consumer acquisition may provide your business legs, but consumer retention is truly the backbone of your brand’s sustained growth. According to experts, 80% of future revenue will come from 20% of your existing customers. As such, it is very essential to work on consumer loyalty management, repeat business, and overall consumer satisfaction.
Revenue flow
You need to keep an eye on how revenue has been doing over a long time – and account for everything that affects it like seasonality or shopping vacations.
Due to this, you’ll stop worrying about month-over-month complications and focus on long-term development instead. After all, running a business is not an easy job.
Optimize and measure
Finding opportunities to increase online performance moves you from simply reporting raw data to analyzing consumers and shopping behavior to make those data driven decisions fastly without relying on others.
The analysis and complete reporting provides an amazing experience for the business users to increase the brand functionality and helps the ecommerce crowd to organize their own data in a most efficient way.
The reports and analytics are very useful for eCommerce retailers by providing them with important business insights regarding user behavior on ecommerce stores and action strategies which can be taken based upon it.
This in turn gives great assistance for so many business folks to take various more important decisions to increase their ecommerce online store and to earn great profits out of it.
Some essential reports that track the important eCommerce data
Some of the reports need to be a user of the enhanced ecommerce analytics:
SEO audit
Search engine optimization best practices and processes are changing with the time, so it’s essential to conduct regular checkups regardless of your website’s technical stability.
Investing in SEO analysis is an excellent way to get a piece of essential information about the state of your Magento store because you might be missing a necessary amount of customers and sales due to improper technical SEO setup.
SEO audit provides you with a comprehensive review of the state of your technical SEO.
Did you know that about 40% of online buyers start their shopping experience by doing an online search? As a result, any business that is not implementing search engine optimisation (SEO) is missing out on a huge chunk of the customer base.
Effective SEO optimisation starts with research into search volumes, competitor ratings, and searcher intent.
Magento technical audit
Magento audit is the right service if your site is slow, having performance issues, site crashing, etc. It is essential if your eCommerce site has been hacked or you want to act preemptively and make sure that the website is safe and all security patches are applied.
It involves a deep dive into the source code of the site application to ascertain problems, performance, security, and violations of standard coding formats.
The Magento technical audit is a deep dive into the following areas:
- Magento commercial/3rd party extensions
- Magento core analysis
- Magento custom extensions
- Magento cache analysis magento catalog analysis
eCommerce UX audit
It is essential for eCommerce professionals who always seek an opportunity to enhance their store or need reassurance that their current structure is following the best market practices and, more importantly, the needs of their consumers.
Most customers combine all audit focus areas into a ‘Full-Site UX audit’. These are:-
- Homepage & category navigation
- Search experience
- Product detail pages
- Product lists & filtering
- Mobile specific
- The checkout process
Key areas covered:-
- User testing
- User journey analysis
- Review of all emails
- Review of product positioning and promotions
- Detailed review of all page templates
PPC audit
PPC audit will show
- What is wrong in your accounts
- What to look for in the future to keep excellent outcomes
- What can be done better to enhance your results
Why choose Magnostack?
We provide audit functions performed by certified senior frontend and backend developers. Our highly skilled experts have extensive experience with reviewing Magento websites, and we follow the custom approach to every client.
Our UX audit, PPC audit, Magento technical audit, Google analytics audit are done by our UX experts, who are certified Magento Specialists and UX certified. The audit process and final report will give an insightful user-focused list of actionable suggestions on how to enhance your website.
Put into action, these modifications will result in an exceptional user experience directly increasing conversion rates and improving your customer satisfaction.
If you’re interested in getting more information about this service, contact us to know pricing and timelines.
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