Ecommerce Analytics – The Holy Trinity

E-commerce analytics.

The world of e-commerce and it’s massive growth would not have happened without the level of data analysis and analytics happening around it.

After having done so much work in E-commerce analytics, we have realized that there are three main analytics areas, which we will term as the “Holy Trinity” here. These are the areas that give the most insights and out-of-sights to the business and also where we have worked the most with various clients.

The Holy Trinity of Analytics in E-commerce is the Marketing, Customer and Product Analytics – a clear focus on these three help you in gaining deep understanding and top insights from your businesses

 

 

Marketing Analytics

 

Do you know what’s exactly happening inside your marketing engines?

I’m not talking about high-level numbers like impressions, clicks, conversions.

I’m talking about very tactical, specific numbers and actionable insights that can come from answering the following business questions:

1. What are the attributes that cause my marketing campaigns to do well?
2. What are the triggers that are helping users convert really?
3. What’re the closest figures to ROI per campaign that we can get?
4. What are the roadblocks in my marketing campaigns causing users to fail?
5. How is the performance of each sales rep and why are some performing better than others?
6. What is the optimum way to spend my marketing budget based on past performance?

Answering these business questions and many more can help you in taking action steps to improve your key metrics by 10%, 30% and even 50%+ in most cases.

If the above are the problems you face, you have come to the right place.

We will help not only in answering all the above business questions customized for your needs but also help you in building strategies and various other analysis that your business needs to help you in taking data-driven action for your marketing strategies.

 

Customer Analytics

 

Do you really understand your customers well? How deeply do you really know them?

I’m not talking about high-level numbers like sales, number of customers, products/services purchased etc

I’m talking about very tactical, specific numbers and actionable insights that can come from answering the following business questions:

1. How many types and segments of customers do you have?
2. Which segment is the most and least profitable for your business?
3. Which type of customers drives the most referrals and affiliates to your business?
4. What really makes customers come to you in the first place?
5. What really makes a customer leave you? How long do they stay with you?

”The most important single thing is to focus obsessively on the customer. Our goal is to be earth’s most customer-centric company.”
– Jeff Bezos, Amazon

Be it B2C, B2B or any other type of business, your customers are the oxygen of your business. Understanding your customers deeply is something that you must invest in if you want to keep growing your business consistently.

If the above are the problems you face, you have come to the right place.

If you want to deepen customer understanding for competitive advantage, uncover previously hidden customer insight, build omnichannel maps that optimize customer experiences and solve the various problems/business questions listed above, you have come to the right place.

 

Product Analytics

 

In E-commerce and SaaS businesses, the products are really important. No amount of marketing, sales or any other activity will help grow your company until you have solid products and a deep understanding of how it’s used by your customers. Product analytics basically tells you what your users really do, not just what they say they do.

This makes understanding your product and its key metrics surrounding it very important and pivotal for your business.

Another important thing is that the product is a dynamic evolving part of your business based on feedbacks, customer service, product teams working in sync to keep it moving forward.

How do users use your product? I’m not talking about how many times they open the product, view something on it etc but how they really use it and how it affects your business with all the underlying metrics surrounding it.

Yes, you heard me, I’m talking about some real numbers that represent the level and depth of usage of your products and behind the scenes. The underlying data should answer questions like the following:

1. Is the product really helping your customers solve the problem they bought it for?
2. What are some hidden opportunities for product improvement?
3. What are some ways you can retain your customers based on product usage?
4. What are some common attributes that your top 20% customers share in using your products?
5. What are some areas where you need to invest in your product development?

If the above are questions you are driven to find about your product and business, this is the final area you must explore and go deep within.

You can reach out to us by filling out this contact form. Our team is always happy to help.

 

 

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