While each eCommerce brand has its own unique needs, the eCommerce metrics are nearly the same. Because of this, eCommerce marketing analytics tools can take your brand to the next level! To achieve your business goals, you should use marketing analytics tools for eCommerce at some point.

Metrics without meaningful context are useless for any business. Making this data more convenient can put your brand one step ahead of your competitors in this fast-growing and developing eCommerce ecosystem. In addition to enabling you to understand your weaknesses and strengths, marketing analytics tools can also provide insight into your online marketing and sales activities.

Measuring your key performance metrics in real-time gives you actionable insights into your brand’s performance. As well as this, marketing analytics software for eCommerce allows you to determine which marketing strategies work best and worst for your brand. If you are aware of all these factors, you can take strategic actions at the right time to maximize your brand’s performance.

How do marketing analytics and eCommerce related?

Growth can only be achieved by measuring and analyzing customer behavior properly. Making data-driven decisions to increase online sales requires collecting data from any area related to your eCommerce business and analyzing it for understanding existing or upcoming trends.

Marketing analytics tools can help with this.

Stages of the Customer Lifecycle and Essential eCommerce Metrics

If you have a piece of information about how your eCommerce brand is performing, you can answer important questions like how many times a customer has visited your site, which channels bring the highest ROI, and more. Each eCommerce brand is unique, so an important metric for one might be different from another. In the first stage, it would be more accurate to identify the main metrics that are equally important to each business.

We would like to mention five of the customer lifecycle stages before we dive into the essential metrics:

  • During the discovery stage, we examine reach, impressions, and engagement rates.

  • In the acquisition stage, some key metrics are covered such as CPA, CTR, and CPL.

  • The conversion stage includes sales conversion, average order value (AOV), and card abandonment rate.

  • Retention includes customer lifetime value (CLV) and churn rate,

  • The advocacy stage covers the net promoter score (NPS) and newsletter subscription rate.

If all essential eCommerce metrics are covered, we can move on to the best analytics software for eCommerce brands to measure these metrics and turn them into meaningful information.

Which are the best eCommerce analytics tools?

In the eCommerce world, there has been a massive growth in the use of marketing analytics tools. Businesses that have seen this growth want to take advantage of the increased traffic and sales online. As they do not want to miss out on any opportunity, they keep an eye on eCommerce analytics tools.

Below we have listed the best eCommerce analytics software and their key features:

  • Adverity

  • Google Analytics

  • Hotjar

  • Kissmetrics

  • Klaviyo

  • Woopra

Let’s explore the world of top e-commerce analytics tools!

Adverity

adverity

Source: Predictive Analytics Today

Adverity is a complete eCommerce platform. Using the platform, you can track all of your marketing data to better understand your customers. The dashboard shows all your KPIs and provides detailed information about your eCommerce performance in real-time. Adverity monitors your marketing ad spend so that you are in full control of your budget. Therefore, it helps lower customer acquisition costs.

You can always keep track of all your activities since the dashboard shows your marketing and sales results. Whenever there is a drop in your overall performance, Adverity’s AI-powered proactive marketing analytics tool catches it immediately and focuses on how to optimize it. To prevent further underperformance points, the analytics system creates automated workflows. Thanks to the AI-powered module, it offers smart suggestions for improvements.

Adverity integrates well with almost every digital marketing tool. In today’s highly competitive environment, this diversity allows every business, especially eCommerce businesses, to maximize their profits.

Google Analytics

Source: Medium

Almost every eCommerce business relies on Google Analytics. eCommerce metrics such as sales conversions, product performance, customer acquisition, customer behavior, interest insights, and much more are tracked and reported. Google Analytics is loved by everyone since it is free and easy to use.

Using the tool, you can create custom reports, flow visualizations, and comprehensive audience reports to gain a deeper understanding of your customers. Google Analytics also comes with Google Search Console, which is free and easy to use. The pair can provide eCommerce brands with in-depth metrics that can be used for decision-making.

With Google Analytics integrated into almost every eCommerce platform, you can always keep track of your sales and marketing activities.

Hotjar

hotjar

Source: E-Commerce Nation

Hotjar is not designed specifically for e-commerce brands, but it analyzes key metrics for actionable insights. It is focused on understanding customer behavior, forecasting their needs, and serving satisfying customer experiences.

eCommerce brands can use the heatmap feature to see which categories, pages or products are receiving the most impressions. Online store owners can maximize conversions by doing that. Hotjar, on the other hand, shows how your customers interact with your online store. Therefore, you can get an instant report on CTA performance. You can monitor your customers’ interactions and record them at the same time to make them feel valued.

Finally, eCommerce brands can quickly and accurately collect customer feedback with Hotjar’s ready-to-use survey templates.

Kissmetrics

kissmetrics

Source: Kissmetrics

In this comprehensive list of marketing analytics tools, we have another fantastic tool. Along with an advanced reporting feature, Kissmetrics offers a detailed analytics tool. We provide all essential metrics of your eCommerce brand such as total sales, total revenue, average revenue per person, new visitors, conversion rate, and much more.

Details include information about the most viewed, added to cart, and purchased products, the most popular categories, and the percentage of searches that result in a purchase, as well as revenue that varies from category to category.

Additionally, Kissmetrics allows you to segment eCommerce funnels by marketing channel, source, and campaign. Seeing the whole funnel allows you to monitor both purchasing and checkout behaviors.

Klaviyo

woopra

Source: Klaviyo

eCommerce brands need to analyze trends and opportunities to accelerate business growth. Klaviyo can help here. As eCommerce is closely related to email automation, the platform focuses mostly on email marketing. Kliviyo analyzes your email data, automates audience segmentation, and tracks email opens and clicks.

To carry out campaigns effectively, email marketing analysis is essential. Klaviyo allows you to analyze and report key metrics, campaigns, flows, and product performance right from the dashboard. Therefore, you can easily see which emails or texts drive sales.

Klaviyo has the ability to create benchmarks based on your industry, growth rate, and other business characteristics.

Woopra

klaviyo

Source: Medium

During the customer journey, Woopra visualizes and optimizes each step. Furthermore, it analyzes sales funnels to avoid dreaded abandoned carts. Woopra’s analytics system gets started when a customer visits your online store. Users can see how long it takes them to make a purchase, which area is abandoned, how long they continue to take action or how often they come back to make another purchase, etc.

In the customer journey module, you can understand each customer’s unique story, respond to their behavior, and drive engagement and retention. eCommerce store owners can identify which metrics most influences abandoned cart rates with the comprehensive reporting feature. This provides a basis for optimizing the ratings.

Final Points

As you can see, the market offers excellent eCommerce analytics tools for all needs. In this competitive world, it is vital to gather and manage the data for every business, but the most important thing is to transform it into something meaningful. Therefore, marketing analytics tools remain a top priority.

Every business’ needs will shape the best analytics solution. Therefore, it is better to understand your needs first. You can then find the best analytics software for eCommerce that most closely matches your business’s needs, strategies, and goals.

In addition to the eCommerce analytics tools we mentioned above, there is even more here waiting for you to discover!

Share This Post

Published On: March 3rd, 2021 / Categories: Digital Marketing /

Leave A Comment

Subscribe To Receive The Latest News.

Keep up with the latest news and exciting updates by subscribing. Don’t worry, we won’t spam you!

Thank you for your message. It has been sent.
There was an error trying to send your message. Please try again later.

My email address will be stored and used to receive MarketFlue monthly newsletter.