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Businesses all need data to make important decisions regarding their growth, processes and goals. As an online seller, what data can you use to make these crucial decisions? Where is the best place to get it? Learn about the methods and tools you can use to analyze data and grow your business. It’s easier than you think!
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Analytics: Analyzing Data to Maximize Profits
Alex HackbartMiva Merchant
“Metrics and analytics are only valuable if you understand what they are telling you and provide insight into opportunities that you act on.”-@PricingWire
Conversion Rate
Conversion Rate: The ratio of visitors who convert website visits into desired actions such as purchasing a product or submitting a form.
Conversion Rate = Goals Completed / Visits
Conversion Rate
If 100 people visit a specific product and 5 of them make a purchase,
your conversion rate is 5%
5/100 = 1/20 = 5%
Why Worry About Conversion Rate?
• More Sales Without More Visitors• Leads to a Better Shopping Experience• Easy to Understand With Proper Tools• You Can Start Today!
Conversion Rate Killers
• Poor Usability• Too Many Steps• Asking for Too Much Information• Shipping Too Expensive• No Clear Call to Action
Tools for Analytics
• Google Analytics• Crazy Egg• KISS Insights• Google Website Optimizer• GoSquared• …Tons of Others!
Google Analytics
• Free• Easy to Use• Easy to Install• Easy to Understand• Enough Power for Most Companies
Google Analytics
Google Analytics
Profiles and Filters
Profiles and Filters
Profiles and Filters
• Combining Profiles and Filters Allows You to Segment Specific Data
• Filters Are Destructive!• Can Have Multiple Filters Per Profile• Allows for Customer Segmentation• Can Give Users Access to Specific Profiles
Sample Profiles and Filters
• Exclude Internal Visits• Only New Visitors• Paid Traffic• Organic Search Traffic• Organic and Paid Traffic• Returning Visitors• No Filters
Goal Funnels
Goal funnels track user trends in a specific path to help reveal problems
and drop-off points in your site
Setting Up a Goal Funnel
Goal Funnel Visualization
Goal Funnel Visualization
Overlay Mode
Always Have a Clear Call to Action!
Basket Page Analysis
Basket Page Analysis
Basket Page Analysis
Checkout Pages
Checkout Pages
Checkout Pages
Crazy Egg
• Heat Map Visualization• Track User Clicks Anywhere• Easily Find Distractions or Wasted Clicks• Easiest Data Visualization• $9/month Plan• 30 Day Money Back Guarantee
Crazy Egg
KISS Insights
• Real Answers from Real Customers• Real-time Feedback• Answers to Questions Data Can’t Answer• High Response Rate• Custom Messages & Timing• Free Plan (with branding)
GoSquared
• Live Analytics• See Who is Interacting Right Now• Adapt Content On the Fly• Traffic Alerts
Website Optimizer
• Create Split Tests to a Common Goal• Test Effectiveness of Changes• Test Segments or Entire Pages• Pick the Winner, Start Again• Always Be Testing
Website Optimizer
Analytics
• With the Right Data, Conversion Rate Optimization is Easy!
• Use Customer Behavior to Make Effective Changes That Increase Sales With the Same Amount of Customers
Analytics: Analyzing Data to Maximize Profits
Alex Hackbartwww.mivamerchant.com
@miva_merchant
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