Congratulations on successfully building an online store! Now that you’ve accomplished this milestone, the next challenge is to grow traffic and online sales. To achieve this, you’ll need to utilize the top ecommerce analytics tools available in the market. These tools will help you measure key metrics, set goals, and track your progress over time.
As an online store owner with limited resources, it’s essential to invest wisely in tools that will help you scale your business. Remember, not every campaign will result in immediate sales success, but each campaign can contribute to your long-term growth if you learn from any missteps along the way.
To begin, select a few key ecommerce metrics that are important to your online store. Focus on improving these metrics over time. Some key areas to consider measuring include:
1. Sales Conversion Rate: Measure the number of purchases divided by the number of sessions to determine your sales conversion rate.
2. Net Promoter Score: Gauge customer satisfaction by asking how likely they are to recommend your store to others.
3. Average Order Value (AOV): Track the average amount customers spend in a single transaction.
4. Returning Customer Rate: Measure the rate at which existing customers return to make additional purchases.
5. Top Products Sold: Keep track of your best-selling products to ensure they are always in stock.
Once you’ve identified the key metrics you want to measure, it’s important to select the right ecommerce analytics tool to help you track and analyze these metrics. Consider factors such as integration with your CMS and ecommerce platform, real-time analytics capabilities, user interface, pricing structure, customer support, and reporting capabilities when choosing a tool.
Here are some top ecommerce analytics tools to consider:
1. WooCommerce Analytics: A built-in feature of WooCommerce, this tool offers key reports, real-time data analysis, filtering and segmentation tools, and customizable dashboards.
Pros of WooCommerce Analytics include comprehensive reporting, real-time data analysis, easy data manipulation, and scalability.
Cons include compatibility limitations with older versions of WordPress and other ecommerce platforms.
2. Google Analytics: A popular website analytics tool that provides valuable insights into website traffic, user behavior, and conversions.
Pros of Google Analytics include a wide range of data collection capabilities, free basic features, easy integration with other Google products, and customizable reports.
Cons include data privacy concerns, a steeper learning curve for beginners, and potential data sampling limitations.
3. WooCommerce Google Analytics Pro: An extension that enhances the integration between WooCommerce and Google Analytics, offering advanced ecommerce tracking capabilities.
Pros include detailed ecommerce tracking features, customizable settings, and comprehensive insights into customer behavior.
Cons include a paid subscription requirement, a learning curve for advanced features, and potential privacy issues.
4. Metorik: An analytics and management tool designed for WooCommerce that offers detailed sales, customer, and product insights.
Pros include comprehensive data reporting, user-friendly interface, and streamlined email marketing and inventory management.
Cons include monthly subscription fees, a learning curve for advanced features, and compatibility limitations.
5. Product Sales Report Pro: An extension for WooCommerce that generates customizable sales reports to help make informed business decisions.
Pros include easy report generation, customizable templates, and granular data sorting options.
Cons include subscription fees, a learning curve for customization, and compatibility limitations.
6. MonsterInsights: A tool that integrates Google Analytics with WordPress, providing an easy-to-use interface for accessing important data.
Pros include easy setup, WordPress dashboard integration, ecommerce metrics tracking, and custom event tracking.
Cons include premium subscription costs, dependency on Google Analytics, and a learning curve for beginners.
By using these ecommerce analytics tools, you can gain valuable insights into your online store’s performance, optimize your strategies, and drive more revenue. Remember to regularly analyze your key metrics, experiment with different approaches, and continuously strive for improvement to achieve long-term success in growing your online store.