May 27, 2020
3 – 4 minute read:
E-commerce analytics and insights are a suite of reports designed specifically for online businesses. They provide a comprehensive view of customer engagement and revenue across marketing channels. This data that is coalesced into one place, helps you to better understand your store’s performance. At a quick glance, you can then determine how your online business is doing and if there are any issues with your data.
With the insights gained from these reporting tools you can track key KPI’s ( Shopify KPIs ) to gain a competitive advantage. Delving more into the customer engagement side, Shopify Analytics and Insights allows you to see who your loyal customers are, and which customers are at risk of leaving. This data can help you to restructure your online business and possibly win back customers that you have lost. With this live and constant up to date feedback you can compare your business with other industry benchmarks.
This will ultimately help to drive your company’s success. With key metrics such as average order value, revenue and number of visits, you’ll be able to determine which products are attracting more people and which to bundle together to create the most revenue. You can also establish which avenues may be more reliable channels for customer traffic. Understanding how each visit contributes to total sales informs you on how to best spend your marketing resources.
Shopify offers its own basic tools to help see how well you are doing and how well you are progressing. If you own a Shopify store, you have likely seen the screenshot above. It is one of several screens that show the basic statistics of your online store. For many users, this information is just a status update and not enough information to gain insightful information to improve performance. My thoughts are that Shopify will be opening a new office in Vancouver, Canada to look more into expanding their data analysis capabilities, but that has been put on a temporary halt due to COVID-19.
However, for now most users know that Shopify’s analytics tools are too simplistic and don’t cover enough detail, so some 80% of Shopify store owners install Google Analytics. Most of these users don’t really know what to do with the information on Google Analytics, as it is generally too complex and has a somewhat steep learning curve. If you don’t use any analytical tool, you probably should. Install Google Analytics it’s free.
We hope to bridge the gap with our app UI Ave Analytics. We want to give a store owner confidence in their ability to see their performance on a high level, and also be able to dig deeper into key metrics at the Google Analytics level. Our app currently on the Shopify store has a free 30-day trial. It works standalone and also integrates with Google Analytics.
We are also offering a free analytics consultation, just download the app and send a message to the live chat and we will schedule a consultation on how to best use your data.