CTR, conversion rates, Clickstream data, impressions, page views, sessions, users…the amount of data that you face when running an e-commerce store in 2020 is massive. At first glance, all of it seems important and an effort to understand all data points and reconcile them with your growth plan for your eCommerce store seems compulsory and non-negotiable. Doing so, in most cases is overkill. Working with so many data points often makes you lose perspective on the purpose of tracking that particular data point and it’s business implications, and ultimately you end up tracking data for the sake of tracking data.
A good analytics strategy is always designed to track a handful of selected things, carefully selected with a clear correspondence on direct business impact – mainly sales and ROAS for marketing campaigns. Having a clear and streamlined analytics strategy ultimately boils down to one thing – having the perfect set of analytics tool(s) which fit your e-commerce store like a snug burrito.
A good analytics tool’s success KPI lies in inputting all the massive amount of data that arises from an ecommerce store every day in a very simplistic manner and providing actionable insights which help you streamline your business and marketing strategies; and ultimately lead you to your desired business targets.
From an e-commerce perspective, a good analytics tool will make sense of vast data in tables, diagrams and visually appealing charts. Metrics measured will essentially be, but not limited to real-time figures, bounce rates, repeat users history and a providing detailed understanding of a user’s journey on your website after they land there.
Having a clear, in-depth view of your data will not lead to doubling your sales. It is essential that this data be used to create strong strategies to acquire new customers and to upsell to older customers. A good understanding of your data analytics is key for this.
Before we go and choose the perfect analytics tool for your ecommerce store, you need to be sure of vital factors that are crucial in opting for the tool which will perfect;y fit your business goals. Here are some factors that you need to take under consideration while choosing the perfect analytics tool for yourself.
Tailor Made for your Business Objective
Even before you start the process of choosing an analytics tool, you need to introspect with relevant stakeholders from your organization – what are your key business objectives today? After 2 years? Which data points will be extremely essential for you to mark your progress towards your business objective? A crystal clear understanding of your business objective is critical, and they should ultimately dictate your choice of an analytics tool and not vice-versa.
Easy to use interface
There are a lot of stakeholders in an organization and not all of them will have the technical capabilities or the inclination to make sense of a complex tool. The user interface and the experience should be dead simple to navigate so that anyone in your organization is able to use it and draw insights which will help better their work and ultimately have a positive impact on the organization’s growth.
Multi source tracking for data
As of today, a single user click on your website leads to repercussions on your website and various allied tools and dashboard. As you scale, more and more data is created everyday in increasing complexity on different spreadsheets, tools and dashboard.
A robust analytics tool should be adaptable enough to collate data from multiple sources, structure it and draw insights in an easily consumable fashion.
Easy to customize
Each business and organization is unique in terms of its goals and requirements. As we move ahead, the format of one-size-to-fit-all doesn’t really work anymore.
Tools need to be adaptable and should have the capacity to be customized according to the organizations specifications.
For example, if an ecommerce store ‘X’ might have requirements which focus more on performance marketing data analysis while the other ecommerce store ‘Y’ might want the tool to be focused more on website performance.
Tools need to be adaptable and easily customizable.
Every business has its specific unique requirements and according to their specifications, every company might need its own eCommerce analytical tool with a sort of customization.
The ultimate goal for any ecommerce store will be – growth. Let’s assume ecommerce store ‘X’ has 5 employees and is seeing a MAU base of 5,000 on their website. Tool ‘Alpha’ works very well for them. But consider the case 2 years down the line where the MAU is now 5,00,000 and employees are 200; the same tool should work in the similar or better capacity for your store.
The possibility to encompass scale is hence, crucial while working with an analytics tool.
So, we have catered some top-notch, sought-after tools list for data analytical which will be beneficial for all your eCommerce business necessities. Let’s dive into it.
1. Google Analytics
GA gained extreme popularity with ecommerce users mainly due to its dead simple and easy to navigate interface and a best in class user experience.
Also, it’s free! Apart from this, there is a tonne of documentation and help available online both by Google and third party websites on how to add tracking codes, configure reports, segment audiences or set up goals – basically anything to get you to become a GA pro. Google has an in-depth course about GA as well on Google Analytics Academy.
Tracking retail performance is very easy with GA for e-commerce stores as it provides custom metrics to do so. Among these metrics are:
- Purchase number
- ATV( Average transaction value)
- Total revenue
- Conversion rate
- Per Session value
Also, GA easily integrates with leading ecommerce platforms like Shopify, Magento, WooCommerce, BigCommerce, 3dcart and more.
The in-service search is another brilliant feature. With this, you can just ask Google Analytics a question like ‘The total number of purchases in Jan 2020’ and receive the collated data.
One of the biggest cons with GA is the complicated setup.
Incorrectly added tracking codes or other mistakes can create false final reports and you wouldn’t notice the mistakes until it’s late – especially if you are a self taught amateur
KISSmetrics main USP is it’s accumulation and monitoring of information on visitor behaviour.
The system is extremely robust in collecting traits of every single user, such as : history of all ad campaigns which lead the user to your website, all the activities and clicks the user did on your website, timeline of all the events triggered by the user, and history of their property. Such a collection of data becomes very critical in optimizing performance marketing campaigns and overall customer experience.
These functions of this eCommerce analytics tool are very helpful for building marketing strategies, detecting trends and patterns –
- Funnel, activity, cohort, attributions and other reports;
- Group Contact Lists;
- Availability of testing and staging sandboxes;
- A/B Tests, RetentionReports;
- Customer Profile
The free setup guidance and the email support offered by KISSmetrics is really markert standard and very intuitive and responsive.
KISSmetrics has a 14-day free trial. The pricing plans start from $500 per month for the Growth plan and goes to $850 for the power plan.
Still KISSmetrics is a favorite tool for many ecommerce players due to it’s integrations with platforms like Shopify, Magento, Chargify, Mailchimp etc.
3. Crazy Egg
The main USP of Crazy Egg eCommerce analytics tool is creation of a heatmap which provides in-depth analysis of the website. The heatmap allows tracking areas on a website your visitors hover, blind areas of the website, how users are scrolling on your website and where exactly they click. Crazy Egg is extremely useful for performance marketers and UX designers to identify areas which can be improved to boost conversions and re-work areas which are reducing conversions.
The user interface is extremely friendly and easy to navigate. Along with the behavioural market feature, there are a tonne of other features –
- Scroll maps
- Click heatmaps
- Confetti Reports (with charts of daily/monthly activity statistics)
- A/B Testings
Crazy Egg has a 30-day free trial and with 4 packages. All of these packages have unlimited A/B test and edits –
- The Basic package has a limit of 100 recording, 3 months of storage for recording and 3 websites. The cost will be $24 per month.
- The Standard plan has 500 recordings with1 year of recording storage.Cost entailed will be $49 per month.
- The Plus package has twice as 1000 recording and storage periods of 2 years and costs $99 per month.
- The Pro plan has limitations of 5,000 recordings and 2 years of recording storage. This pack also provides priority customer support. This price is $249 per month.
4. Adobe Marketing Cloud
The main USP of the Adobe Marketing Cloud is the combined data from CRM, website analytics and 3rd party data to give the single view of the customer.
The promise of Adobe is to provide an extremely personalized experience to the customer – showing the right things, at the right time to the right customer. AMC analytics tool allows real time tracking and measurement of targeted campaigns. It also measures email marketing performance. Audience segmentation is another key feature for AMC which allows automated ad campaign setups via rules.
AMC does not have a free trial. doesn’t offer a free trial and works on a subscription basis. The ranges range from $30k to $100k depending on website traffic.
Unbxd’ search product comes with a whole range of features to revamp your website’s search engine and show relevant results, tailored to each website visitor providing a very personalized experience for each visitor ultimately boosting conversions.
The AI – ML algorithms used by Unbxd enable an unforeseen level of relevance for each visitor and has many new-to-the-market features –
- Contextual relevance – Unbxd uses a Machine Learning model – Named Entity Recognition (NER) – which tokenizes each search query to map it to the desired attributes and return the most relevant products with high precision. It goes beyond simple text-pattern matching techniques.
- Query Category Predictor – Unbxd enables prediction of categories that might be relevant to a shopper even if their search queries do not explicitly tie to a particular category.
- Intelligent Fallback – Showing relevant products, if the products queried for are not available in the catalogue.
- Autocorrect/Autosuggestion – Auto Correction of typographical errors and autosuggest to complete the query while typing by the shopper and and still fetch relevant results maintaining contextual relevance.
- 1:1 Personalization – Unbxd builds visitor profiles based on brand, price and category affinities to deliver specially selected assortments that help engage visitors better and lead to more conversions.
- Rank products better – Unbxd’s Learning to Rank model data captured in real-time to optimize for higher conversions.
- Ranking insights – It enables website owners to measure product rankings, assess the effectiveness of a campaign, and find out why certain products show up in certain positions.
- Other features – Unbxd also provides a dashboard for merchandisers to manage catalogs and run campaigns along with a robust data analytics addon.
While Unbxd’s products are a bit costlier to some of the other similar offerings in the market, they are value for money if you are really looking to up your search game and convert those casual shoppers to loyal buyers.
eCommerce is a really cut-throat business to be in right now, with massive amounts of dollars being pumped into the market by small to huge players. Choosing the right set of tools is extremely important.
Each website’s use case is different taking into account the budget, scale of business, products, industry, tech-stack, marketing-stack etc.
Careful consideration must be given to each factor while choosing the right set of tools for your business.
If you are interested in discovering more about how Unbxd can help your business, please drop in a line here.