Even a small hike in the conversion rate of your website can result in a huge impact on the bottom line of your company. Conversions are best affected when historical data is being used to generate a theory, followed by testing the theory, measuring the obtained results and thereby adjusting it as needed.
Google Analytics has time and again proven itself to be one of the best tools which can provide you with comprehensive data so as to act on this matter. Although a paid premium product i.e. Analytics 360 Suite is offered by them, Google Analytics still remains a functional base product which is amazingly useful and is absolutely free.
So are you ready to enhance your e-commerce conversion rate?
Segmentation by Traffic Source
It is crucial to understand the relationship of referring the traffic sources to conversions. The data behind it explains the region where you need to prioritize your efforts.
Google Analytics allows users to track the how, when, and where:
Google Analytics thereby helps the users to easily track how, when, and where:
- How people are reaching the website
- Whenthey come to the website
- From where as they being referred to the website
Data concerned with traffic sources can be viewed via this path:
Acquisitions > All traffic > Source
Using this path, you can easily determine:
The traffic sources that attract the highest traffic volume
This can be associated with where you are obtaining the majority of your conversions. It should be kept in mind that it by large affects your promotional plans and the amount of effort or money you readily put into each of the sources of reference.
The traffic sources which have the highest and lowest conversion rates
Having an idea about the sources that have the lowest rates of conversion will not only help you to figure out the parts that need more effort and work but will also help you to determine the areas where you need to stop the expenditure of money and time so as to promote your plan properly.
The traffic sources which have the most expensive visits
You need to firstly associate costs like ad cost, affiliate commissions, etc. to each and every traffic source in order to determine the traffic sources having the most expensive visits. The referral sources which have an easily measured cost per visit generally include social media ads, banner advertisements and AdWords.
In some cases, more conversions are brought about by higher costs per visit. Hence data plays an important role to determine whether or not it is worth investing in the ads. It is also important to compare in between various types of ads so as to determine the one which is a better investment among the rest.
Accordingly, Google Analytics has a Goals feature that permits the assignment of values to each conversion. It is useful to measure the non-purchase activities including clicking a “Follow Us on Social” link or signing up for updates via email.
Whether mobile or desktop attracts more traffic
It is considered as a bad sign if you have a low traffic on your mobile as the mobiles use a huge percentage of the internet for this purpose. Generally, when your website is not responsive the mobiles inflict a low traffic. It is also considered as a sign telling you to consider the usability of your mobile especially in the case where your site might experience a penalty due to mobile interstitials.
Various e-commerce websites are trying to add personalized elements on their websites. According to Gigya, around forty-five percent of the online shoppers tend to shop from a site that features personalized recommendations and around forty percent of the consumers tends to buy more from those retailers who use personalized elements to feature their shopping experience across various channels. Hence, visitors tend to convert when dynamic optimization is applied on the landing pages.
Google Analytics shows the behavior of the various visitors while they are active on your website. The below-mentioned path can be used to get access to the relevant data:
Behavior > Site Content > All Pages
As far as the e-commerce websites are considered which have hundreds and thousands of pages, Google Analytics helps you to break them down and reach the pages which have the highest traffic volume and the pages which have the top landing along with the exit pages.
Once you find out the product pages which encounter the maximum traffic, all you need to do is use that very insight to personalize your website. The first pages that the visitors land on or the landing pages have the highest traffic volume and hence needs to be immediately converted or driven to someone right at the beginning of a funnel.
If your crucial landing pages encounter low performance then a red flag symbol is shown and needs to be immediately investigated. Just like the landing pages, exit pages are equally crucial. They generally represent the point where the traffic decided to leave your website. Once you locate the exit page, you can work on the rest of the pages of the website to extend the stay of the traffic on your website.
Google Analytics enables you to monitor the actual performance of the product so that you don’t have to look at the specific pages in order to determine which products present on your website are doing exceptionally well as seen from a traffic perspective. Below mentioned is the path which you need to retrace in order to view the report:
Conversions > eCommerce > Product Performance
You need to implement e-commerce tracking so as to access this particular report. E-commerce tracking is better defined as a snippet of codes which can be easily installed on your e-commerce website so as to collect the transaction data which is inclusive of:
- Sales of the products
- Amount of the purchases
- Location where the billing took place
With the aid of e-commerce tracking you can seamlessly integrate the data with Google Analytics. With its aid you can easily understand the value of various user actions on your website.
It is to be noted that this plug-in is different from the enhanced e-commerce plug-in and hence the two of them shouldn’t be present together on the same property.
According to Google, enhanced e-commerce “…enables the measurement of user interactions with products on e-commerce websites across the user’s shopping experience, including product impressions, product clicks, viewing product details, adding a product to a shopping cart, initiating the checkout process, transactions, and refunds.”
A more elaborate set-up is required for enhanced e-commerce which can provide better and detailed insights. Likewise, e-commerce tracking is easier to implement and provides incredibly insightful data.
With the help of product performance data you can see which product or category is making the maximum amount of money. Just like page performance, this product performance tool can also be used for prioritizing pages or recommending the products on the landing pages and email campaign pages. Once you know which products of yours are seeking a majority of the money, you will understand the mechanism and know what to offer to the visitors so as to help in making conversions.
On the same note, Google Analytics brings to you the option to have a look at the statistics to know which product is converting at the highest rate. It will accordingly, let you know about the products which are not performing as good as expected and hence will help you to figure out which of them need better marketing or promotion and which of them require a product improvement. With the aid of e-commerce tracking, you can easily view the data that helps you to come across the products having the highest return rate. A high return rate is generally perceived as a red flag having a bigger product issue.
It is generally beneficial to have a basic idea of what your visitors are searching for. For this, you need to properly monitor the shopping behavior of your visitors. Below mentioned is the path that will aid you in doing so:
Conversions > Shopping Analysis > Shopping Behavior
Visitors, mainly the first time visitors tend to browse through a number of pages so as to obtain an idea of the selection. If you can understand the manner in which they navigate your website then you can also analyze the behavior like whether they will proceed to checkout and complete the process or will they abandon the process in the middle of their shopping schedule. If you properly investigate then you can easily find the reason as to why they stopped at a certain point and thus how can fix the problem at hand.
If a search bar is present on your website, you need to make sure that your queries are being monitored on Google Analytics. Using the below-mentioned path you can easily have a look at what people are searching for on your website:
Behavior > Site Search > Search Terms
Looking through the search report of your site you can obtain direct access to the valuable data regarding your customers. It thereby helps you to determine whether or not you should add a product which your customer has been demanding.
Google Analytics is certainly an essential tool which can be used to analyze the website data in order to make informed decisions so as to improve the performance of the website. It is quite important to dig into the data in search of problems and opportunities in order to improve the already existing assets. It is important to do so as the bottom line of an e-commerce company is hugely influenced even by a small percentage increase in the performance.