eCommerce Analytics Guide

Complete eCommerce Analytics Guide for Business Owners

eCommerce businesses can’t expect to achieve results or know the key improvement areas if they don’t have much insight into the present performance. However, learning from previous efforts and testing ideas for a better future is always good practice. For that, it is crucial to have relevant data at your disposal. The answer to finding data is simple – eCommerce analytics.

Analytics allows businesses to collate facts, figures, and previous data, and drive forecasting to make better, informed business decisions. According to Gartner, about 3 out of 4 marketing leaders base decisions on analytics, and rightly so.

When it comes to eCommerce analytics, there are a number of ways in which businesses can benefit from collecting and storing data to make better decisions, conduct better market research, and improve customer satisfaction.

This article serves as a complete guide on eCommerce analytics. So, without further ado, let’s get started.

What is eCommerce Analytics?

Discovering, interpreting, and communicating data patterns of eCommerce business is known as eCommerce analytics. It includes analyzing and reporting data about website traffic, customer behavior, customer journeys, transactions, conversions, etc.

Today, many marketers use analytics to show the ROI for campaigns, make better marketing decisions, and help centralize and manage data. eCommerce analytics serves as the base for businesses to gain insight into the effectiveness of their online store and comprehend why visitors behave in certain ways on the site.

Uses of eCommerce analytics

Now that you know what eCommerce analytics is, here are some of the reasons why an eCommerce B2B or B2C business should make use of analytics right away:

1. Understand Marketing Data

Analytics helps keep all the data in one place. You can use campaigns, social ads, and email marketing data, view real-time statistics, and know what is working and what is not. It will help you measure marketing performance, formulate growth strategies, and decide better about where to invest money.

2. Uncover Trends

eCommerce analytics helps us to treat the data as an interconnected system. Having all the data elements together makes it easy to find patterns and trends. This way, marketers can discern the top customer segments based on transactions, understand their buying behavior, and use it to predict future trends or replicate success.

Marketers can also minutely determine who interacted with the content— if they clicked, bought, or downloaded something. With this data, they can create content that resonates with the customers, generates more engagement, increases profits, and provides the business with a competitive edge.

Metrics:

Here are some of the metrics that eCommerce analytics platforms can lay out in no time:

  • The number of visitors to the website via referrals and other marketing campaigns
  • The activity and actions of visitors on the website over a specific period
  • Most visited pages during the shopping season
  • What device do people use to visit the website
  • The location of the visitors

3. Optimize Pricing

Did you know that appropriate price management can help increase a company’s margin by 2% to 7% in a year, yielding an ROI between 200% and 350%?

eCommerce analytics help businesses understand how pricing affects the purchasing decision of customers. As such, they can discover the best price point customers will likely pay for a product. Businesses can also predict which products are likely to be price sensitive and adjust the prices accordingly.

Best Analytics Practices to Improve Headless Strategies

Headless commerce strategies have been on a steady rise – owing to the flexibility of operations facilitated by headless architecture.

In essence, the headless architecture decouples the front end and the back end of an online store. So, suppose the front end (built using JavaScript and the likes) is responsible for displaying items and allowing users to checkout, in that case, the back end (built using Magento and the likes) can take care of inventory, payment processing, and business logic. Both front-end and back-end are connected via APIs, thus, providing businesses with the benefit of tweaking them independently as and when required.

In a headless commerce setup, eCommerce analytics is immensely viable. For instance, the performance of the front-end can be tracked and evaluated based on different themes like the intuitiveness of the front-end interface in engaging users, the clarity of the buying journey, and how front-end accommodates that to drive conversions. This way, businesses can optimize the design of the front-end without affecting the operations of the back-end — all the while enhancing the overall business performance.

Top 3 eCommerce Analytics Practices

To that end, here are some of the best eCommerce analytics practices that can drive headless strategies:

• Gather All Your Analytics Data Across All Platforms

You must organize and bring all the data together. For that, here are some of the most important business facets you need to organize:

  • Your eCommerce store,
  • Email providers,
  • Customer relationship platforms,
  • Google Analytics,
  • Google Ads, and
  • Social media ads.

• Analyze the Data Correctly and Try to Join the Dots

Once all the data is in one place, you must visualize the data patterns to get a clear picture of your user’s behavior and find the areas of improvement.

• Keep Tracking Your Site’s Shopping Behavior Flow

Focus on the sessions with transactions, checkout, etc. If you find a sudden drop at any point in time, this indicates a problem in your checkout process or the speed of your website. Mostly, the issues point toward irregularities in information architecture. Because the architecture under consideration is headless, these inconsistencies can be addressed without any back-end hassle.

Major Role of Analytics in Today’s Omnichannel World

Here is how eCommerce analytics plays a significant role in the omnichannel world:

  • Businesses can easily manage product data and inventory from the warehouse to customers.
  • Effective analytics in place helps businesses to detect fraud and avoid them.
  • Analytics-driven recommender systems or engines serve as a blueprint for customers to navigate the store virtually.
  • Analytics helps to analyze the funnel of a new prospective customer and maximize the chances of conversion.
  • eCommerce analytics also helps to identify how a product is being searched, what decides the rank ordering of the product, the best landing page for the customers, and much more.

Conclusion

The eCommerce landscape is growing, and analytics will equip businesses better to enhance user experience and realize the best possible outcomes from their eCommerce platforms.

How about implementing an eCommerce analytics strategy for your store? Book a consultation with us today!

author: Name of Author     Date:Jun 2,2021

News Title Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce

 

Coastal Construction Products Partners With Ignitiv and Kibo to Jumpstart eCommerce Growth

“With this solution, we want to establish and sustain digital leadership in the construction industry." - Tim Lavinder, Director of Digital Strategy at Coastal

CUPERTINO, CALIFORNIA, US, May 28, 2021 /EINPresswire.com/ -- Ignitiv, a leading eCommerce agency, and Kibo, the leader in unified commerce, are announcing that Coastal Construction Products has selected Ignitiv and Kibo to jumpstart their B2B Commerce growth with Kibo’s Unified Commerce Platform. Coastal’s B2B Commerce solution will combine unified omnichannel B2C-like experiences with streamlined B2B processes. Coastal’s business customers will get personalized product information, rich associated content, real-time inventory updates, customer and job-specific pricing, and the ability to order quickly and in a streamlined manner – all leading to a superior experience.

Coastal will also benefit from a seamless integration between Kibo and Prophet21 ERP software using SimpleApps’ REST API.

Tim Lavinder, Director of Digital Strategy at Coastal, said, “With this solution, we want to establish and sustain digital leadership in the construction industry. Our goal is simple - deliver real and unique value to our customers through a tool that puts their needs first.”

“Coastal’s strategy to create unified ecommerce experiences for their customers is the best way forward in our omnichannel world, continually improving performance and process at across every customer touchpoint. We’re excited to partner with Ignitiv and Coastal as part of their integrated, data-driven approach,” said Brian Wilson, COO, Kibo.

“Great mobile-first design that optimizes the customer journey, a platform that combines Commerce, Order Management and Personalization, and comprehensive integration to ERP are the three levers we are using to build a platform for growth for Coastal Construction Products,” said Rajib Das, CEO of Ignitiv.

Coastal Construction Products is one of the largest independent distributors of caulking and sealants, waterproofing, concrete repair, and fire protection products in the United States. With roots going back 40 years, Coastal Construction Products has worked with its construction industry customers across the Southeast and the Caribbean, assisting them with quality materials and support.

About Ignitiv
Ignitiv is a full service agency that combines strategy, digital marketing, technology and customer analytics expertise to help craft integrated digital experiences that deliver more customers, more revenues and more profitability. Ignitv is the partner of choice for Home Hardware, Canada Post, United Hardware and Bi-Mart.

About Kibo Commerce

Kibo is the only extensible, unified commerce platform that delivers personalized, omnichannel experiences. The platform combines AI-driven personalization from industry leaders Monetate and Certona, omnichannel commerce for B2C and B2B models, enterprise-grade order management, and AI-driven point of sale. Global clients like Office Depot, Taco Bell, and Patagonia rely on Kibo's API-first, microservices-based architecture to support a wide range of commerce strategies, including headless commerce, that meet high growth goals and customer expectations at a manageable cost of ownership.

#ignitiv #leadtheexperienceeconomy #coastalconstruction #ecommerce #kibocommerce #unifiedcommerceplatform #prophet21

online shopping

Bi-Mart accelerate to omni-channel growth with Ignitiv and Kibo

CUPERTINO, CALIFORNIA, US, March 1, 2022 /EINPresswire.com/ -- Ignitiv, a leading eCommerce agency, and Kibo, the leader in unified commerce, are pleased to announce the successful implementation of “buy online, pick up in store” (BOPIS) at Bi-Mart.

Across its full brick-and-mortar presence, Bi-Mart can now sell its product assortment online, allowing member customers to pick up orders from either Bi-Mart or Cascade Farm and Outdoor stores. Customers may also place orders at CascadeFarmAndOutdoor.com and pick up from any Bi-Mart store they choose, adding value and convenience to their shopping experience.

Click here to Read More

#Bi-Mart #Bi-Martaccelerate #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce

 

United Hardware to fuel eCommerce growth with Ignitiv and Kibo

Ignitiv, a leading eCommerce agency is proud to announce the addition of a new customer, United Hardware. Ignitiv will deliver to United Hardware, a state-of-the-art eCommerce solution powered by Kibo Commerce’s Unified Commerce platform. United Hardware aims to use eCommerce as a driver for, both, business growth and enhancement of customer experience. Once live in Q3 2021, the site will allow customers to get rich product information, check for availability in nearby stores and buy online to pick up in stores. Store managers will also get the flexibility to communicate their offers and promotions.

Doug Audette, CEO of United Hardware, said, “Building a modern personalized eCommerce site is a strategic push to enable our dealer stores to present a better omni-channel experience for our customers”.

Rajib Das, CEO of Ignitiv, added, “With our home improvement industry eCommerce solution built on Kibo, we are delivering, within budget and time the solution that enables United Hardware to execute on growth and customer experience”.

United Hardware Distributing Co. is a dealer-owned corporation based in Plymouth, Minnesota which provides distribution services for about 610 member-owned stores operating under the Hardware Hank trade name.

#unitedhardware #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce

online shopping

Bi-Mart accelerate to omni-channel growth with Ignitiv and Kibo

CUPERTINO, CALIFORNIA, US, March 1, 2022 /EINPresswire.com/ -- Ignitiv, a leading eCommerce agency, and Kibo, the leader in unified commerce, are pleased to announce the successful implementation of “buy online, pick up in store” (BOPIS) at Bi-Mart.

Across its full brick-and-mortar presence, Bi-Mart can now sell its product assortment online, allowing member customers to pick up orders from either Bi-Mart or Cascade Farm and Outdoor stores. Customers may also place orders at CascadeFarmAndOutdoor.com and pick up from any Bi-Mart store they choose, adding value and convenience to their shopping experience.

Click here to Read More

#Bi-Mart #Bi-Martaccelerate #ecommerce #leadtheexperienceeconomy #ignitiv #kibocommerce

b2b Kibo Partner

 

The Kibo solution will help Fortis Life Sciences maintain the customer orientation and agility it values while building scale and capacity for future customers.

CUPERTINO, CA, US, September 26, 2022 - Ignitiv, a leading eCommerce agency, and Kibo, the leader in unified commerce, are pleased to announce the successful implementation of Fortis Life Sciences’ commerce solution.

Fortis Life Sciences offers customers in the research, diagnostics, and therapeutics markets world-class reagents, tools, and materials, globally.

Fortis' business strategy is to provide its customers with the best-in-class experience and quality products. A dedicated effort to realize this core vision required Fortis to identify and implement the best commerce solution available to enable their customers a real-time search and find product discovery.

The goal was to streamline the customer's buying process by allowing purchase ordering handling and easy customer registration, seamlessly integrating into their current enterprise systems.

"With our new Kibo Commerce solution, implemented with Ignitiv's partnership, we have been able to rapidly deliver a customer-friendly ecommerce experience in support of our company's mission and vision.", said Andy Wolf, Chief Technology Officer, Fortis Life Sciences. "I thank Ignitiv and Kibo for helping us implement this scalable solution quickly."

"We greatly enjoyed working with Ignitiv to implement our modern, unified eCommerce solution at Fortis Life Sciences," said Ava Aprin, Head of Global Partnerships, Kibo. "The Kibo solution will help Fortis Life Sciences maintain the customer orientation and agility it values while building scale and capacity for future customers."

Rajib Das, CEO, Ignitiv, also said, "With this solution, Fortis now provides its customers with a frictionless buying experience and exceptional service and support across channels. We are delighted to partner with Kibo and Fortis Life Sciences to implement a state-of-the-art solution that brings significant value."

About Fortis Life Sciences

Fortis Life Sciences is a strategic platform company founded in 2020, with the mission of offering world-class products coupled with best-in-class customer experience. Over the course of the two years, the company has built a portfolio of high-quality products and brands serving attractive end markets including diagnostic, therapeutic and research discovery. Fortislife.com.

About Kibo Commerce

Kibo is the only extensible, unified commerce platform that delivers personalized, omnichannel experiences. The platform combines AI-driven personalization from industry leaders Monetate and Certona, omnichannel commerce for B2C and B2B models, enterprise-grade order management, and AI-driven point of sale. Global clients like Office Depot, Taco Bell, and Patagonia rely on Kibo's API-first, microservices-based architecture to support a wide range of commerce strategies, including headless commerce, that meet high growth goals and customer expectations at a manageable cost of ownership.

About Ignitiv

Ignitiv is a full-service agency that combines strategy, digital marketing, technology and customer analytics expertise to help craft integrated digital experiences that deliver more customers, more revenues and more profitability. Ignitiv is the partner of choice for Home Hardware, Canada Post, United Hardware, Fortis Life Sciences, and Bi-Mart.

#ignitiv #leadtheexperienceeconomy #fortislifesciences #fortisforyou #B2B #ecommerce #kibocommerce #unifiedcommerceplatform