The campaign data will give you key insights that can improve customer experience and create more effective advertising campaigns.

Analytics vs. Metrics: What’s the difference?

metrics might be mentioned in ecommerce market analytics.

• Metrics are data and numbers you collect about your marketing.
• Analytics: Analytics refers to the interpretations and insights you get by analyzing your data.

Analytics evaluates data points to discover patterns.

Four advantages of data analysis in eCommerce

Why is ecommerce analysis so important? Four benefits to leveraging ecommerce analytics in your business.

1. You can measure the effectiveness of your campaign

Analyzing data is crucial for ecommerce because it gives you insight into the effectiveness and efficiency of your campaigns. This gives you an insight into your campaigns’ effectiveness.

Data analysis can help you analyze campaign performance and identify what’s not working. 

2. Customers can spot patterns and behavior

An analysis of ecommerce data can help you learn more about your customers. Analyzing your data can reveal patterns and behavior among customers who visit your website

Shoppers may abandon their carts before reaching the page where they can buy the item. To identify the problem, you can analyze the data.

Gain a better understanding of your customers’ behavior and patterns to help you tailor your customer service and products.   

3. This allows you to understand your audience better and allows you to cross-sell or up-sell.

You will be able to improve understanding and engagement with your audience using ecommerce analytics. 

You can tailor your marketing to each prospect by analyzing this data. 

This allows you to cross-sell or upsell to customers so that they keep buying from you.

4. Trends around your business

Ecommerce marketing analytics will help you spot trends within your business. Analyzing marketing data will enable you to identify which times are most engaging for your business and which products get the most engagement.

Let’s say you have a sauce line. By analyzing this data, you can shift the promotion of bundles during Christmas to increase sales and inventory. 

Ecommerce data analysis allows you to identify trends and increase sales.

There are four ways to analyze data in ecommerce

How to do data analysis These four data analysis tips are essential for ecommerce.

1. Establish clear goals

Before you start data analysis for your ecommerce business, you should set goals. These goals will help you better understand your data and ensure that you achieve your goals. 

Set SMART goals. This is what it means:

• Specific: Specific goals are more precise and can be called SMART. Goals like “Earn 10 new leads in two months” are more specific.

• Measurable To determine if your goals are being met and to make sure they are measurable, it is important to make them tangible

• Realistic goals that are achievable and realistic: Unrealistic goals can lead to failure. Achievable goals will make your business more successful.

• Relevant – Your goals should always be related to your business and your end goal. Your business’s goals should reflect your objectives, regardless of whether you want to drive leads or increase revenue.

• Timely – It doesn’t matter whether you have a time limit of a month, a quarter, or a year to reach your goals. 

This is the best way to guide your data analysis for ecommerce. This will allow you to identify the areas that need to be examined to assess if your goals have been met.

2. Careful with the data you’re analyzing   

It is essential to understand what you are analyzing before you begin an ecommerce data analysis. 

You will need to narrow your focus when looking at the data.

This is a list containing common metrics businesses use to measure the effectiveness of each marketing strategy.

• Search engine optimization (SEO): You can monitor metrics like traffic, conversions, and bounce rate.

• Advertising via pay-per-click (PPC). You can track metrics like click-through rates, conversions, and return on investment (ROAS).

• Email marketing: Track metrics are used to measure open, click and bounce rates.

• Social media marketing: You can track metrics like organic impressions and site traffic via social networks.

• Social media advertising. You can track metrics like cost per click (CPC), conversions, and CTR for digital media marketing.

• Content Marketing: Track metrics can help you measure content marketing like lead generation, dwell time, page views, and many other metrics.

Once you have identified the metrics you should track, you can analyze that data to gain insight into your marketing campaigns.

3. Set benchmarks

To conclude your campaigns, you must set benchmarks for ecommerce marketing analytics. 

Benchmarks can help you make inferences. It is difficult to know what your abandonment rate is if there aren’t any benchmarks.

You can, for example, know that your benchmark abandonment ratio is 70%. This number can be used to compare your abandonment rates and draw conclusions about the checkout process.

Start with benchmarks. This will allow you to get a better understanding of your data and make better business decisions. 

4. An effective data analysis tool is

A data analytics tool can be a great choice for data analysis in ecommerce. If you have multiple marketing campaigns, there is more data to sort through.

Data analysis tools allow you to quickly collect and analyze data to uncover valuable insights. 

• Google Analytics
• Google Data Studio
• Screaming Frog

Data analysis tools allow you to quickly gain insights so that you can make changes quicker.

Kobe Digital can help uncover actionable insights via ecommerce marketing analysis

Ecommerce data analysis will help you gain insight into your marketing campaigns and improve them. Kobe Digital has marketing professionals to assist you.

Our marketing analysts are experts in using analytics to improve marketing campaigns. 

Are you ready to increase sales? Contact us now for a strategist about our Marketing Analytics Services.