Top Analytics Tools for Ecommerce
Thanks to online websites, businesses now have a lot more data to work with because everything is much easier to monitor and analyze. This benefits them as they can get a much better idea of how customers are interacting with the website.
Back then, businesses could essentially only advertise their company in newspapers. Not only was this costly, but it also was quite difficult to get data back about how the advertisements performed. This meant that optimizing was an impossible feat to accomplish.
However, now it’s possible to get accurate data from your ecommerce business. There’s no reason why you should be doing any guesswork anymore! Since data is incredibly valuable, take advantage of how easy it is to collect in today’s day and age.
A solid ecommerce platform is one that’s got integrations with a well-rounded analytics platform. The setup tends to be much simpler whenever those integrations have already been created. Therefore, without further ado, let’s dive into some of the top analytics tools for ecommerce and get a practical background on each of them.
Ecommerce Analytics Software
Google Analytics
One of the most widely known analytics packages, this free tool is great for those looking at getting website metrics. Google Analytics allows you to measure sales and conversions while simultaneously gives you current insight into how users are interacting with your website, how they got there in the first place, and how you can get them to keep on coming back. They offer custom graphs as well as email reports. You can integrate with both Google AdWords and Google Sheets. They also offer enhanced ecommerce analytics. Additionally, with this software, you can track more than one website, collect data on social networking platforms, measure video performance, as well as monitor smartphone users.
However, the statistics that they offer aren’t real-time, and they don’t have the strongest support as their help center is limited.
Segment.com
This analytics software is both a data aggregator and it can save businesses a large amount of time since it makes collecting data from any customer touch point and sending that information to any tool very simple. It gathers all of the analytics that you have and then it launches it out to a variety of analytics packages. Since it just uses one JavaScript script, the site loads very quickly. Additionally, only one integration needs to be made, making it cheaper. Data is also correctly formatted; therefore other integrations can occur. On top of that, you can try out other analytics packages with ease since you won’t need to alter your website code.
However, implementing Segment requires a developer. Also, debugging problems get more difficult as now there are two systems at work. Additionally, a few certain features won’t work through Segment. On top of that, their backend can definitely be overwhelming, even to the most skillful data analysts.
MixPanel
This tool offers a very powerful sales funnel that’s quite simple, too. It lets you make sales funnels that way you can gain insight into how users go through your website, which assists you in building the best user journey for the most optimal conversions. Additionally, with this information, you can take advantage of the feedback to gain insight into what ways you can optimize your store. For instance, you can find out where both the dead ends and lower conversion points are located.
Although MixPanel is great if you need to look after many custom metrics or want to highly segment your audience, if you just need some common user engagement metrics, gather the time spent on the website, or get a traffic source analysis, then it may be better for you to look elsewhere.
Threat Engagement Analytics (TEA)
The complete ecommerce platform, Shopping Cart Elite, developed this software that way users could measure each visitor engagement on the site as well as identify and make an analysis based off of their interaction with the website. Breaking it down, you have an engaged segment and a threat segment.
The engaged segment revolves around the fact that whenever a user goes onto your site, they end up engaging with it. TEA scores each visitor based off of their engagement scores, which include poor, average, good, or excellent. Additionally, it assists with managing remarketing campaigns, gets rid of any low-performance traffic, measures the attribution on each campaign, as well as purchases new and optimized traffic.
The threat segment monitors any red flags that could signify a bot such as having a mouse cursor jump 800 pixels across the screen while never going through the middle at the start. It helps with segmenting any bad engagement as well as optimizes traffic, gets rid of any weak keywords and advertisers, optimizes your campaign based on location, day, and hour, it blocks click fraud, and it even automatically blocks threat IPs.
Which one should you choose?
Although each of one these platforms are very powerful, TEA has proven to offer some of the best results. This can be backed up by the fact that they’ve helped increase engagement by 1000% as well as generate 500% more leads. In fact, take, for instance, Google AdWords. Based off of a case study that SCE did, this platform was sending up to 80% of garbage traffic to their client websites. The rest of the actual traffic was measured for visitor engagement. Additionally, TEA caters to every need, whether it be common engagement metrics or the need to track quite a few custom metrics. Additionally, it’s not only a way to measure engagement, but you can also use it to make the best-paid marketing and remarketing campaigns. It’s also really great that it’s built into SCE, that way if you’re also interested in an ecommerce solution, too, then this may be the way to go. Shopping Cart Elite is very well aware of the ins and outs of ecommerce due to their strong performing platform, so you can expect Threat Engagement Analytics to perform no differently.