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Take Your Store to the Next Level with Ecommerce Tracking

Ecommerce tracking is a critical component of digital business success. As competition intensifies in the world of online retail, business owners will benefit from using data to make better decisions, faster. Simply going with your gut won’t cut it if you want to thrive in today’s data rich business environment. Read below to learn how ecommerce tracking can take your Shopify, Magento or WooCommerce store to the next level.

Ecommerce Tracking Does More Than Measure Your Bottom Line

Measuring the success of your ecommerce store involves more than tracking the ups and downs of your bottom line. There are dozens of metrics that can be used to help you make more informed decisions and drive store growth, from Unique Visitors to Conversion Rates and Average Order Value.

 

While the mountain of data available for ecommerce tracking can be valuable for decision-making, it can also be tremendously challenging to comprehend. With so many data points, deciding what to track and how each metric fits into the big picture of store success, initially feels overwhelming.

Tracking Your Ecommerce Performance Helps You Understand:

  • Specific marketing activities that are driving growth
  • Best selling products in each channel
  • Individual customer behavior for targeted outreach
  • Shifts in customer buying patterns
  • Successful referral sources

Performance Reporting in Glew

Key Performance Indicators Ecommerce Stores Should Focus On

The insights stores can gain from tracking ecommerce data are nearly endless. While strategies will differ for every store and industry, these key performance indicators top the list of metrics used by successful online businesses:

  • Gross Profit Margin
  • Conversion Rate
  • Customer Acquisition Cost
  • Customer Lifetime Value
  • Revenue by Source or Channel
  • Average Order Value
  • Cart Abandonment Rate

Define Specific Goals for Your Store

Define Specific Objectives for Your Store

Once you have the basic metrics covered, choose additional ecommerce data that directly relate to your business goals. By defining specific objectives, you can then track and link performance metrics to those goals.

 

For example, you may want to track data related to your goal of increasing Orders, improving Conversion Rates and Repeat Customer Rate or increasing Return on Ad Spend.

 

If we use the example of improving Conversion Rates, you should track metrics such as Customer Conversion Rate per Channel, Cart Abandonment, Active and at Risk Customers, and Net profit per Channel.

Maximize Your Data Return with Ecommerce Tracking in Google Analytics

Next, if you haven’t enabled ecommerce tracking in Google Analytics, check out our step-by-step guide here to get started. Once enabled, you’ll have access to high level reports in the ‘Conversions’ section of Google Analytics.

 

Pulling all of your data together in a way that’s insightful and actionable is the next challenge. If you don’t have an ecommerce tool that integrates your data sources, you’ll need to manually pull reports from your ecommerce platform, Google Analytics and advertising sources, then combine the reports in a way that provides a unified view of performance.

Getting Started with Ecommerce Tracking in Google Analytics

Use a Tool Built Specifically for Ecommerce Tracking

For more advanced store intelligence, consider an analytics tool that gives you a real-time view of store performance so decision makers can easily identify revenue generating opportunities.

 

Glew’s ecommerce tracking tool combines silos of customer, merchandise and performance data so store owners can gain actionable insight from dozens of key metrics.

 

Get detailed customer data such as Customer Acquisition Cost per Channel, Average Time Between Purchases, and Return on Ad Spend by Channel. Optimize your product strategy by understanding High Gross Margin Merchandise, Top Bundled Products and Top Products from each marketing channel.

 

Glew’s store performance management gives you insight into the effectiveness of channels and marketing campaigns. You can also customize and schedule reports to keep everyone on your team up to date on store performance.

 

Whether you’re combining store data into Excel spreadsheets or using an ecommerce analytics tool like Glew, make sure you are consistently tracking the key metrics that are relevant to your store and your goals. Doing so will help you uncover opportunities to grow revenue and outpace the competition.

Connect Your Analytics Account to Glew

Glew Provides Advanced Ecommerce Tracking for
Shopify, Magento & WooCommerce Stores

Customer Insights in Glew

Customer Insights

Uncover opportunities to target your best customers, or to win back At Risk or Lost customers. Pinpoint your Customer Acquisition Cost to maximize your channel and campaign performance.

Merchandise Reporting in Glew

Merchandise Analytics

Generate insights that drive revenue growth. From bundling to product profitability, Glew gives you the tools needed to evaluate historical data and identify actionable merchandising opportunities.

Performance Reporting in Glew

Performance Reporting

Bring together information from your ecommerce platform, analytics tools and advertising sources to help you understand key performance indicators across your business and maximize your store’s profitability.

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