What is Web Analytics for an Ecommerce Site?
Ecommerce Website Analytics describes the analysis of qualitative and quantitative data from your website and competitors’ websites
The goal is to improve your online experience and achieve business goals such as increasing the number of orders for goods (products) or leads (potential clients).
In the case of e-commerce websites, KPI (Key Performance Indicators) are many factors that help owners, webmasters, and marketing managers determine if a site is successful and how it can be improved to increase revenue. Ecommerce KPIs can also differ from other business models and are therefore important to understand for any online store.
KPIs are important because they can help improve website performance, site performance, and the return on your eCommerce website.
All of this data is analyzed using site analytics tools.
The main web analytics tool is Google Analytics.
The web tracking tool also integrates with the following Google Marketing Platform programs:
- Google Ads
- Google Data Studio
- Google Optimization
- Google Search Console
9 key performance indicators of an e-commerce website
to increase sales and revenues of the seller and measure customer satisfaction
1. Website traffic
This metric is probably one of the most obvious KPIs that an e-commerce site owner will want to monitor.
Increasing website traffic is often the goal of e-commerce websites. Traffic leads not only to purchases but also to the general awareness of your brand.
2. Referral traffic
Can help you determine which web traffic sources are driving the most visitors to your site.
3. Conversion rate
An extremely important KPI for all online stores.
This is the percentage at which site visitors turn into customers. A high conversion rate indicates that you are convincing a lot of visitors to buy your products or services, while a lower conversion rate means that not many customers are ready to buy, or perhaps your traffic is not well-targeted.
Knowing the number of shoppers who have visited your site can help you improve eCommerce performance by showing templates so you can target site visitors more effectively in the sales funnel.
4. Bounce rate
This is the percentage of visitors who leave your site after navigating to it from a referral source such as a search engine or another website.
A high bounce rate can indicate that the majority of your visitors are not finding what they want when they visit your site, making it an important site KPI in any business.
5. Timeframe to take decision about purchase
This metric roughly shows how long it took your website visitors to convert into real customers. While some people may visit your site and make a purchase right away, others may visit it two, three, or even more than ten times before they decide to buy from you.
6. Return visits
This indicator can contain several types of estimates.
If you have a very long time to buy, you will have a large number of repeat visitors who represent the same people who come back to your store when they try to make a decision.
Repeat visitors also represent repeat customers who have bought from you and come back again.
“Brand loyalty” can also be a sign of repeat visits for online stores.
7. The rate of abandoned carts
This metric refers to the percentage of shoppers who add items to a cart or cart on your site but haven’t made a purchase.
The share of “abandoned carts” can reach 70%, and sometimes even higher.
In this case, targeting these customers and improving the online shopping cart are great ways to increase the “efficiency of your online store”.
8. Cost Per Conversion or CPC
Usually, when discussing Google Ads, your CPC is the amount you pay to the ad site to convert a site visitor into a real buyer.
9. Chat sessions (Chatbot)
A feature that more and more e-commerce websites are adopting is a chatbot that can provide:
- Payment and Order Processing statuses
- Product Suggestions
- Troubleshooting Tips
- and other important suggestions
If you are integrating a chatbot into your website, it is very important to add it to your KPIs. By tracking its performance, such as the number of chats started or sales received, you can gauge its “value” to your company.
The performance of your chatbot can also lead to better processes, which can increase customer satisfaction. For example, by improving your chatbot’s product recommendations, you can impact overall sales.
Plus, a chatbot gives your company a unique edge. If you are, for example, an online store that operates on a subscription business model, your chatbot may provide subscribers with account updates as well as options to renew their subscription.
Contact your service provider to find out how to access analytics from your chatbot.
Acceptance of payments by credit card
Often “full cycle” e-commerce sites work like this.
When the user clicks the “Buy” button on the shopping cart page,
and if the site has a built-in ability to pay with a bank card online, then the client (payer) is redirected to the payment gateway page of the acquiring bank.
If the online payment is successful, then the user (payer) from the bank’s payment gateway returns to the seller’s (merchant’s) website to the successful payment page and then sends a receipt with detailed information about the purchase.
In this case, information about the order or purchase is transmitted to the analytics webserver to record details for each transaction.
In this case, in addition, if necessary, you can build in “Tracking e-commerce”, which allows you to count the number of transactions on your site and the income they bring.
E-commerce Web Analytics Reports
We will prepare:
- Templates for typical reports for e-commerce sites
- Reports for online stores on demand
- Summary reports (Dashboard)
the most important data from different reports on one page
If you want to outsource your analytical work to professionals, we can help!
We are a full-service digital marketing agency with years of experience using analytics to help our clients increase their revenues.
Our team of internet marketing experts has used platforms like Google Analytics from the ground up and we know what it takes to achieve your business goals.
Contact us today for more information or a quote.
Our web analytics services for e-commerce
Analysis of the main indicators of the site, accounting for the effectiveness of site visits and the conclusion of objective statistics.
We connect Google Analytics and Yandex.Metrica.
- We study the goals and objectives of online business
- We analyze processes and target user actions on the site
- Basic reports for the site
- Setting up e-commerce goals
- Commercial reports for online stores
- Setting up Google Tag Manager and Google Analytics for collecting and processing data
- Report dashboard
- Paid traffic report for online stores
- Using Data Studio for web analytics reports