Using BI to improve eCommerce sales
Ecommerce is a competitive and fast-growing industry, where data-driven decisions can make a huge difference in the success of your online store. You also get a wealth of data from Google Analytics, Google Ads (if you are doing PPC) and Meta Insights, but they work in silos and don’t really paint the big picture to optimise your overall sales strategy.
In this blog post, we will share some of the best practices and tools that we use at our agency to help our clients increase their ecommerce sales.
One of the most important sources of ecommerce data is your own website. By using a platform like Woocommerce, you can easily track and manage your online store’s performance, such as orders, revenue, products, customers, coupons and more. Woocommerce also integrates with many other tools and services that can enhance your ecommerce data analysis, such as Google Analytics, Meta Pixel, Google Adwords and more.
NetON help you bring this data together, visualize, understand and act on it. We use Business Intelligence (BI) software to create comprehensive and interactive reports and dashboards for our clients. BI software allows us to connect to various data sources, such as Woocommerce, and transform them into meaningful insights that can help our clients make better business decisions.
Some of the reports that we create for our clients include:
- Calendar report: This report shows the monthly, weekly and daily trends of ecommerce sales, such as total orders, revenue, average order value, conversion rate and more. It helps our clients identify the seasonality and cyclicality of their sales, as well as the impact of holidays, promotions and other events on their ecommerce performance.
- Customer report: This report shows the characteristics and behavior of ecommerce customers, such as age, gender, location, device, loyalty, retention and more. It helps our clients segment their customers into different groups based on their preferences and needs, as well as target them with personalized marketing campaigns.
- Location report: This report shows the geographic distribution of ecommerce sales, such as state-based sales, postcode-based sales and more. It helps our clients understand where their customers are coming from, as well as optimize their shipping and delivery options.
- Time report: This report shows the temporal patterns of ecommerce sales, such as sales on day of week and hour of week. It helps our clients determine when their customers are most likely to buy from them, as well as adjust their pricing and inventory accordingly.
- Page report: This report shows the web pages that ecommerce customers visit before making a purchase, such as product pages, category pages, landing pages and more. It helps our clients analyze the customer journey and funnel, as well as improve their website design and user experience.
By using these reports and dashboards, we are able to provide our clients with valuable insights and recommendations on how to improve their ecommerce sales. For example, we can help them:
- Run better and more targeted advertising campaigns based on customer segments and behavior
- Optimize their product pricing and discounts based on demand and competition
- Run ads in different times, and different cities/states to get the best bang for your advertising buck
- Increase their customer loyalty and retention by offering rewards and incentives
- Enhance their website usability and conversion rate by testing different layouts and elements
- Expand their market reach by exploring new geographic areas or niches
If you are interested in learning more about how we can help you boost your ecommerce sales with data analysis, please contact us today. We would love to hear from you and discuss your ecommerce goals and challenges.