Turn Consumer Online Behavior into Actionable Insights: 5 Ecommerce Reports
Written by Tanner Schroeder, Production Associate
The ease of shopping online continues to evolve fueling growth projections for ecommerce. Even Walmart is adapting to the trend, announcing in early 2017 that they will offer two-day shipping in order to compete with ecommerce giant Amazon. According to data from analytics firm comScore and UPS, consumers now make over half of their purchases online. Additionally, Forrester Research reveals that about 190 million Americans made an online purchase last year. The sheer volume and competition in the online space makes it important for retailers to study consumers’ online behavior and turn learnings into actionable insights.
Google Analytics offers a robust suite of tools, many which cater to the ecommerce industry. With Analytics you are given the tools necessary to collect and analyze your consumer data to make decisions to grow your ecommerce brand. The problem you might be running into, though, is how to best sort through all of the data you find in Analytics. There are numerous ways to look at the data, from custom reports to customized dashboards, but listed here are the top reports our account managers use for their ecommerce clients.
TOP CONVERSION PATHS
(found under Conversions —> Multi-funnel Channels—> Top Conversions Paths)
This report shows the top 10 paths your customers are taking to reach a conversion. The biggest benefit of this report is helping you decide where to focus your budget. For a deeper level of detail in the report, sort by Source/Medium Path to view the data by platform. If you are reporting most of your conversions coming from paid Google searches, then boost your budget there, or if you are reporting a funnel including organic Facebook clicks, then it might be time to invest in that platform. The report also shows the number of conversions that have come from each path and the conversion value. This allows an even more comprehensive look into the best strategies to reach your customers based on actual value.
(found under Conversions —> Multi-Funnel Channels —> Assisted Conversions)
The assisted conversion report displays clicks that led to a conversion, but were not the last click in the conversion path. This data is useful as it allows for the distribution of conversions to be more accurate. This report puts a tangible number on the value of the clicks leading up to a conversion. As with Top Conversion Paths, you will want to filter by Source/Medium to gain additional insights into the report. This data, combined with the Top Conversion Paths report, allows you to have a much more in-depth view of your consumer funnel. Knowing the top paths to purchase will help in the creation of marketing strategies to streamline the different funnels and increase your overall revenue.
(found under Acquisition Campaigns —> All Campaigns)
To use this report, you will need to set up the utm_campaign parameter in your URL tracking, or manually tag the campaigns with your Double Click campaign manager or Double Click campaigns, if you have linked Double Click to AdWords. Once the data is tracking in analytics the report will leverage the URL tagging to segment the data by campaign. The report can help you track user behavior post-click by campaigns; i.e. this can give you a thorough level of knowledge for user engagement with the site post ad click.
AFFINITY CATEGORIES/IN-MARKET SEGMENTS
(found under Audience Interests —> Affinity Categories and In-Market Segments)
While technically this section holds two different reports, they do go hand in hand. These reports are useful for helping to identify audience targeting on social networks. Affinity Categories are for potential customers. They are higher in the funnel, near the beginning of the buying process, and you are marketing brand awareness to these segments. As they move down the funnel they become In-Market segments, or the consumers more likely to buy. In-Market segments are lower in the funnel and near the end of the buying process. If you are starting a new social media campaign, or looking for new audiences to reach, the segments generated in these reports can be great starting points for both ends of the funnel.
(found under Behavior—> Site Content —> Landing Pages)
This report shows you data on your landing pages. With this report you will be able to report what landing pages are keeping users interested and converting, and which have high bounce rates and short session durations. It also shows you the revenue made from each landing page. Landing pages are the first impression of your product after clicking through an ad, so if they are not resonating with consumers then your product will be dead in the water. This data can help you in deciding which landing pages are succeeding and where changes need to be made.
ANALYTICS INTO ACTION
With these five reports you now have the opportunity to turn your consumer online behavior into actionable insights. You can now make decisions knowing your consumer’s path to purchase. You can report what campaigns are landing conversions and which are assisting in conversions. You can analyze your best performing campaigns across all platforms and use that information to boost the most successful. When going into social platforms, you now have a base for audience targeting. Then when you have all of your platforms working in harmony, you can improve your landing pages to even further the success of your company. Using Analytics, you can take the learnings gained from the data and turn it into PPC and e-commerce success.