Ecommerce is on the move. Online shopping represents almost 10 percent of retail sales in the US, and this figure is growing by 15 percent every year.
Marketing and advertising in ecommerce is all about having sophisticated analytics. Whether in tandem with brick and mortar data or separate, there is a trove of insights waiting to be unlocked by the data-driven.
With a growing array of technologies available to track, optimize and convert on websites, the list of business-critical metrics to track and report on in ecommerce is growing. Metrics like customer lifetime value (CLV), order gap analysis, and the series of conversion rates by purchasing stage are no longer elusive, and can be combined and optimized with marketing intelligence.
The following are example ecommerce dashboards that demonstrate how to use top-level ecommerce metrics to drive sales, build your core audience, and create repeat buyers.
This overview shows bottom-line metrics, attainment to goal, and the most key ratios to balance like customer acquisition cost (CAC) and CLV.
A level below an executive overview, drilling down to product, product category or channel will help reveal over and under-performing groups.
Ecommerce and website analytics go together like lock and key. Monitor how various channels perform, as well as the acquisition costs of paid efforts across channels.
Ecommerce by Channel
Still keeping your bottom-line metrics in view, it’s important to set targets across channels in addition to those set broadly. You may be surprised by channels that are consistently easier to hit targets for.
Ecommerce is highly competitive in terms of paid and organic search. This dashboard shows an example high-level view.
With the ecommerce industry expected to hit $4.5 trillion in 2021, now is the time to invest in scalable analytics that can seamlessly integrate new data sources and deliver insights as your business grows. Want to see a live instance of Datorama reporting on ecommerce data? Schedule a demo today.
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