Everyone who runs an e-commerce store has access to a huge amount of data. Data about clients, marketing data and sales data ‒ their analysis gives practically unlimited possibilities of increasing revenues and development of your company. There is one catch ‒ data is valuable when you can analyse it appropriately. How to do this in an online store? Let’s check the potential of Google Analytics and Enhance E-commerce.
Google Analytics is an analytical tool that tracks and reports website traffic and helps to produce statistics that are relevant from the point of view of your business. What is important, the above-mentioned features are in fact accessible for free to anyone with a Google account. Only when the monthly number of visits to your site is more than 5 million, you must pay for using GA.
Google Analytics contains a lot of elements. How can you use GA to improve your e-commerce?
If you have used standard e-commerce tracking so far, you have lost a lot of valuable data that could have generated a large profit for you. It’s time to change it. Every owner of an online store should know not only Google Analytics, but above all its extended functionality ‒ Enhanced E-commerce.
The power of smart amendments – Enhanced E-commerce
So now, what is enhanced e-commerce? Basically, it is the extension of Google Analytics. The above-mentioned modifications go far beyond the set of metrics and dimensions that have been typical for Google Analytics interface so far.
Enhanced E-commerce is the improved e-commerce plug-in for Google Analytics. It enables users to measure user interaction with products on e-commerce websites in the field of shopping, including:
A lot of possibilities, right? It’s still not everything.
The enhanced e-commerce covers three fundamental areas:
Economic performance, which includes product, product list, and sales performance. Those three indicators will give you the insight into the data regarding particular products, like for example the revenue associated with this entity as well as the number of sold items, and also an overview of finalised transactions. With this data, you evaluate the financial condition of your online store and find out which products generate the most revenue. This is very valuable information that will help you in the further development of your e-store.
Another important feature of Enhanced E-commerce is merchandising success. This overview enables you to go into detail of your own promotional activities that support your sale ‒ internal promotion and coupon tracking. Internal promotion report will show you how effective are your on-site promotion strategies. If you have banners promoting products in your online store, you can track the number of its views or clicks. In turn, the coupon tracking section allows you to check how effective discount promotions are in terms of revenue from individual purchases. Those features will help you to generate reports which allow you to evaluate the effectiveness of your promotional activities.
The key area which is of great importance for anyone involved in e-commerce activities is called “purchasing behaviour”. This section of Enhanced E-commerce analysis will give you a detailed look at how visitors engage with content in your online store ‒ from landing page to product page and shopping cart. Thanks to this feature you will get to know how does each step toward purchasing a product on your site look like. Purchasing behaviour report helps you indicate pages that have high abandonment rates and need improvement.
Regardless of the fact if you are deeply satisfied with the basic Google Analytics functions or if you want to delve yourself into the broad scope of possibilities that define Enhance E-commerce, you still need a clear marketing strategy. This is the reason why you should make research on the habits of your target group and care of relationships that you strive to establish and maintain.
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