E-commerce Analytics Masterclass: Lesson Two
In our previous lesson, we spoke about the importance of e-commerce analytics for online businesses. But, knowing why you need ecommerce analytics isn’t enough. Its impact comes into action when you’re tracking the right data and that requires setting up platforms the right way. So let’s get ready to set up e-commerce Google Analytics.
Most online stores are well-versed with Google Analytics and are using this analytics platform to track their site visits, know a bit about their shoppers and how they get to their site, and understand other metrics that impact their store’s growth.
Now in this lesson, we’re going to help you take all that data a notch higher and put it to some real work.
Setting up Google Analytics – The basics
1. Create a Google account for your business
The very first step is to head over to Google Analytics and set up a new account if you don’t have one already!
The setup will require you to add the website you want to track data for and some other basic information about you and the business. Once you’re done, click on ‘Get Tracking ID’ to get a code that is unique to your business.
2. Install the tracking code on your site
Once you have received the tracking ID, it’s time to put it to work. Install that tracking code onto your website so that Google Analytics starts to collect all the e-commerce data.
To do this, you need to copy and paste the tracking code onto every page of your website using an HTML editor. Pay attention while completing this step; you don’t want to be losing out on critical shopper data.
3. Set up the goals you want to track
Now, if you don’t want to get lost in all the data that Google Analytics has to offer, the next step is to define the goals you want to track.
The most typical goals set for e-commerce sites include conversions by traffic source, revenue, email list subscriptions, add to cart, traffic from different sources like organic, referral, social and email, bounce rate, time on site, returning visitors and engagement.
To set your goals, go to the Admin Panel on the dashboard. Select Goals from the right-hand column and simply fill out the Goal description and Goal details there.
With the above three steps completed, you’re all set! Now you can access 5 different types of reports in Google Analytics:
- Real-Time: How shoppers are reaching and interacting with your store in real-time
- Audience: Insights into what type of shoppers are reaching your site
- Acquisition: Data on where and how your site is getting traffic from
- Behavior: What shoppers are interacting with when on your store
- Conversions: Sales and conversions occurring on your store
If you want to make sure you’re not missing any important step during the setup, here’s a checklist for you:
Want to dig deeper into data? Let’s take you through how you can use the Enhanced E-commerce features of Google Analytics.
Get ready-to-use e-commerce analytics dashboard templates for Google Analytics, right away!
Using Google Analytics’ Enhanced E-commerce Features
With Google Analytics’ Enhanced E-commerce features, you can literally track the entire customer journey on your store. All you need is the ec.js plugin.
Right from the point they arrive on your website, going through search queries, evaluating products, making purchases and even their returns, the plugin tracks every little move made by a shopper.
The enhanced analytics features of the plugin provide detailed reports on your average order value, percentage of visitors who have added items to cart, the average number of items in an order placed, sales driven by affiliates and most importantly, your cart abandonment rates.
Installing the Enhanced E-Commerce plugin
- Shopify stores can simply download the Actionable Google Analytics app for $39 per month
- WordPress with WooCommerce users can install the Enhanced Ecommerce Google Analytics Plugin
- Magento users have an Enhanced Ecommerce extension
- BigCommerce users can go through the Google Analytics Enhanced Ecommerce doc
Alternatively, if you choose to do the setup manually, you need to follow these steps:
- ec.js only works with Universal Analytics. So if you’re still on Classic Analytics, update to the same by clicking on ‘Universal Analytics Upgrade’ in the Property column
- Install the ec.js tracking code on every page of your online store so you can track activity across the site
- Once you have installed the code, enable the Enhanced Ecommerce Settings under Admin > View > Ecommerce settings
Not sure how to install the plugin and get it to work for your store? Contact us on email@example.com and we’d be happy to help!
Understanding the plugin data types
There are four key data sets that you can track with the ec.js plugin for your online store.
- Impressions – Data on products that have been viewed; referred to as impressionFieldObject
- Product – Information on individual products – what is viewed, added to the wishlist, added to cart and so on; referred to as productFieldObject
- Promotion – Data on promotions that are viewed; referred to as promoFieldObject
- Action – In-depth details on the actions specifically related to e-commerce; referred to as actionFieldObject
Enhanced e-commerce plugin features
The idea behind installing the plugin in addition to your basic Google Analytics set up is to be able to understand your shoppers better. Once you’ve completed the setup and the platform has recorded data, you will see two reports under Conversions > Ecommerce on the Analytics Reporting page.
1. Shopping behavior analysis
If you’ve been wondering what shoppers do on your site or why they show interest in something but then leave, this is for you.
The shopping behavior analysis report delves deep into data to show you how shoppers move from one stage to the next in the sales funnel. Here, you will see the number of sessions that have taken place in a defined period of time, how many shoppers left without even looking at products, how many visited your product pages but left without adding anything to their cart, how many added something to the cart but abandoned it, and how many of them completed the transaction.
This report helps you derive actionables to reduce your bounce and exit rates, and improve on-site conversions. This way, you can identify where shoppers tend to lose interest to implement strategies that nudge them towards a successful purchase.
2. Checkout behavior analysis
On average, more than 70% of carts are abandoned. The reasons are way too many – shopper frustration with the checkout process, unexpected shipping charges or even a simple distraction around the shopper. For every shopper that lands on your site, the reason is different!
The checkout behavior analysis report looks into how the shopper interacts with each of the steps in your checkout process.
To be able to understand this report clearly, make sure you head over to Admin > View > Ecommerce Settings, and then name each of the steps as clearly as possible – Shipping Details, Billing Details, Payment Options, Confirmation, etc.
Getting the naming right will help you read the report easily and focus more on identifying where shoppers tend to drop off. The report gives you numbers on how many shoppers completed step one, how many dropped off at step two and so on.
You don’t need more evidence to know that this helps you to quickly optimize your checkout process for higher conversions on both desktop and mobile.
To be honest, we know implementing Enhanced E-commerce Analytics for your store can be a complex and overwhelming task.
That’s why we’ve created a few ready-to-use Google Analytics dashboard templates that you can just click and implement.
Get ready-to-use e-commerce analytics dashboard templates for Google Analytics, right away!
If you’re fumbling with any of the steps here or want to learn more, shoot an email to firstname.lastname@example.org.
Connect Google Analytics to RevTap
Google Analytics is the best platform to use when it comes to digging deeper into your data. But more often than not, deriving actionables even from custom reports becomes overwhelming for online store owners and marketers.
That’s where RevTap comes in.
RevTap connects to your Google Analytics account with a single click. It then goes on to fetch all your store and marketing data to bring them into a unified dashboard. Here, you get a comprehensive view of your marketing campaign performance.
Bringing all your data to one platform enables you to create strategic product and customer segments, identify market opportunities and increase your conversions and sales. All your processes get a lot faster than you ever could have imagined!
When should you start setting up e-commerce analytics?
We’d say, right away!
Whether you’re starting out your online store or are an established brand online, it’s important to never miss critical shopper data. Stay at the top of your game and ahead of your competitors by putting data to use.
If you want to grow faster, you need to make data-driven business decisions by using e-commerce analytics that will provide you success-oriented actionables.
Need a quick brush-up on what e-commerce analytics are and why they’re important? Read our previous chapter from the masterclass.
Ready for the next step to using e-commerce analytics to growth hack conversions and sales?