What matters to your online business?
Everyone's definition of success is different. When you analyze your ecommerce business, what are you looking at?
Which metrics do you examine:
- Average order value
- Conversion rate
- Cart abandonment rate
- Unique Visitors
- Time on site
- Traffic sources
- Marketing ROI
- All of these?
Perhaps your KPIs are less easily defined:
- Your ideal customer profile?
- What are my customers' lifetime values?
- How valuable your social channels are to your sales?
- What is causing my repeat purchases?
Whether you're looking to predict trends or analyze real-time data, you can rest assured that there is an analytics solution that can give you the insights you're after.
10,000 visitors or $25,000 are just numbers when you don't give them a context. The value of an analytics solution that can take your raw data and present you with context, recommendations, and actionable solutions cannot be overstated. In a fluid, dynamic field like ecommerce, where data-mining and identifying your customers has become a lucrative practice, your business success is riding on your ability to adapt, refine, and reshape your business based on your data.
Here are 7 of the most innovative web analytics solutions for your ecommerce business.
SumAll is an analytics tool that allows you to manage data from a wide variety of different sources in one easy to understand place. You can connect social media accounts, business e-mail addresses, advertisement data, payment information, e-commerce data and more all in one place.
You can get summary emails delivered right to your inbox on a daily or weekly basis depending on your preferences. These emails include important highlights that you should be paying attention to, comparisons from previous weeks and more. Not only is SumAll an ideal analytics tool, but it will practically interpret your data for you.
3 Awesome Features
- Highly customizable. You can set alerts to notify you of key events that are taking place across the connected accounts.
- You can send out automatic "Thank You" tweets to your top followers on Twitter on a regular basis to make sure you're engaging with them.
- The powerful mobile app gives you constant access to all of your information while on the go.
How SumAll Innovates
SumAll's sheer volume of channels of information that you can manage give them an advantage over many analytics solutions. You can connect as many accounts from your business to it as you want, be it hundreds of Facebook pages or dozens of personalized Twitter accounts and everything in between.
One feature that makes SumAll fairly unique is that it gives you the ability to compartmentalize the various aspects of your business. This way, you are able to keep an eye on what is going on in what would have otherwise been incredibly complex data groupings.
Retention Grid is a tool that is designed to automate the selling process in any way possible. Using RetentionGrid you can set up opportunity alerts, for example, which give you insight into trends that are currently emerging with your customers. You also have access to extensive return on investment reporting that allows you to see exactly where your hard earned money is going and what it is doing for you.
3 Awesome Features
- The "Orders from Repeat Customers" section shows you how many past customers are turning into loyal repeat buyers on a regular basis.
- The "Customer Grid" breaks down customers into categories like "Sleepers," "At Risk," "Drifting" and more.
- ROI reporting gives you valuable insight into where you should be spending money for the highest level of success.
How RetentionGrid Innovates
RetentionGrid has a foot in both analytics and predictive analysis. It is a tool that mines information about your current customers and figures out what they are most likely to purchase and at what point. It grants you more insight into what you should be stocking and promoting and when a customer is at prime purchasing potential. You can deliver targeted messages at just the right moment, to encourage those purchases.
What makes RetentionGrid truly unique is its ability to effectively automate the selling process. You'll be given an alert when it is time to promote, who to promote to, and what they want - all automatically. This is a valuable feature that is bundled with an already powerful customer insights solution.
Vantage Analytics gives you the ability to not only connect various sources of data like social media, marketing campaigns and more into one easy to manage interface, but it also gives you better control over the way you interpret that data. You'll be able to identify actionable opportunities as they're happening based on past buying data, which will ultimately allow you to make significantly smarter decisions in the future regarding what you're selling.
3 Awesome Features
- Vantage Analytics gives you the ability to personalize the customer experience by way of targeted coupons, a recommendation engine and more.
- Vantage Analytics shows you your Repeat Customer Rate, always letting you know how hard you have to work to keep customers coming back for more.
- You can clearly see the Individual Customer Lifetime Value, which always gives you an idea of not only how many people are spending, but how much they're spending as well.
How Vantage Analytics Innovates
Vantage Analytics aims to give you actionable recommendations rather than just spitting out data. By integrating directly with some of the biggest names in ecommerce platforms like Shopify, Volusion, BigCommerce, and Magento, they combine data mining with predictive analysis and customer segmentation to help you go from reporting your data to refining your business.
Another awesome feature of Vantage Analytics is your ability to save, share and even annotate the information you've uncovered with other members of your organization. You can present the data to coworkers with your own explanations to help get everyone in your business on the same page as quickly as possible.
Go Squared is a service that provides you with real time analytics that you can use to make effective, ongoing decisions for your business. You can see constantly updating stats like Conversion Rate, Revenue, Quantity, Visitors, and Average Order Value, all while seeing exactly which products have sold recently, are being viewed and see the traffic sources for users.
3 Awesome Features
- The "Sidebar" breaks all of the features of GoSquared down into manageable categories. This makes it both easy to find the analytics you're looking for and to quickly jump from category to category at any given moment.
- GoSquared offers a Uniform Team View which guarantees that all employees will see the same features and customized interface across all devices the moment you make the changes.
- The built in Integration Guide will provide detailed instructions for connecting GoSquared with Magneto, Drupal, WordPress, Joomla and more.
How GoSquared Innovates
One of the nicest aspects of GoSquared is its ability to function with equal effectiveness on all devices. The interface has been recently redesigned for mobile devices, allowing you to access every last bit of information you could on a computer on your smartphone.
You can take this real-time information, communicate changes to be made with your content or product managers, and stay on top of your business from anywhere. What's more, measure the impact of your marketing efforts and the impact of social posts on your ecommerce by seeing which Tweets or posts drive the biggest bumps in on-site users or purchases.
Jirafe's goal as an analytics tool is to give you access to a constant stream of information that you can use to effectively run your business, not just your website. Jirafe combines eCommerce data with sales information, order numbers and even website data, giving you numbers that are 100 percent accurate with just a few quick clicks of your mouse. Even if you have data coming in from multiple sources, it will still be effectively compiled together under the same easy to use interface. You can also add customized widgets to alter the way Jirafe works to better address the needs of your unique business.
3 Awesome Features
- Using offline product categorizations, Jirafe gives you knowledge about what your customers are buying and what trends are taking place so you know where you should be placing orders moving forward.
- Jirafe natively integrates with your existing e-commerce platform, allowing you to get the most up to date and accurate transaction information as quickly as possible.
- Jirafe will give you a daily list of the top products from the previous day, allowing you to instantly see any changes in buying patterns as they occur.
How Jirafe Innovates
Jirafe is an analytics tool with a focus on it giving you all of the marketing, merchandising and transaction information that you need at a moment's notice. What it does beyond that, however, is to give you the most relevant ecommerce information in the most usable form possible. For example, Jirafe will show you your most abandoned carts, how much revenue you have lost due to cart abandonment, as well as how potential customers are moving through your site.
Not only will Jirafe tell you what types of products are currently popular, but it will break that information down by your top categories. You can see how much revenue you're seeing from each category and what percentage of your total revenue that equates to right from the same dashboard page.
Custora breaks your business down into dollars and cents not with an emphasis on how well your organization is doing, but with regards to what your customers have been up to. Once Custora has been effectively integrated with your existing e-commerce platform, you can quickly see who is spending the most money with your business and on what types of products. You can also prioritize certain social media marketing channels that may be seeing a higher return on investment than others.
3 Awesome Features
- Custora features predictive CLV, which allows you to predict how customers are going to behave with maximum effectiveness before they even make a move.
- Custora has an emphasis on social media, letting you see how valuable customers will be when they come to your site from certain channels like Facebook.
- Custora allows you to break down CLV information across networks and affiliates, letting you see which affiliate partners are attracting high value customers and which ones aren't.
How Custora Innovates
Custora was designed with an emphasis on your customers, since that's what your entire business is about! As a tool, it is designed to be used to identify high value customers who spend a great deal of money with your organization and give you the information that you need to keep them coming back, again and again.
Using predictive analytics, Custora gives you the ability to take a one time purchaser and turn that person into a repeat buyer. The most effective way to do this? By tailoring your products and services towards that type of individuals. You can begin tailoring funnels towards attracting those ideal customers as opposed to just those who are "one and done." This is exceedingly important as repeat buyers can be worth up to six times more than single purchasers in the long run.
RJ Metrics is a slightly more well known analytics tool that gives you the ability to truly consolidate your data from a variety of different sources into the same platform. Once consolidated, you can begin to get a better idea of your your web and mobile analytics relate to your advertising platforms and how that data relates to the performance of your email marketing and ultimately your e-commerce platform. The main strength of RJMetrics is that it gives you access to all of the information that you need to run your business in just a few quick mouse clicks.
3 Awesome Features
- You can add new metrics based on exactly what you're trying to find out about your business or any particular campaign that your running, which can be instrumental in finding the best possible return on investment.
- RJMetrics puts information in terms that are easy to understand, especially with regards to profit versus actual revenue over a period of thirty or more days.
- RJMetrics gives you the ability to instantly recognize certain campaigns that may be underperforming, giving you the knowledge that you need to either fix them and get them where they need to be or abandon them based on your preferences.
How RJMetrics Innovates
RJMetrics is scalable and powerful and you can easily customize the service to fit your business needs. There is an emphasis on being able to access data without deep programming knowledge, which is complimented by the fact that they offer the full gambit of data replication, tagging, caching, and the final display for analysis by you.
Rather than give you basic statistics to work with, RJMetrics handles complex, relevant data plotting automatically. Some of their key metrics include:
- Customer Lifetime Value - finding the ideal customer profile
- Cohort Analysis - how segments are trending
- Marketing ROI - effectiveness of spend on ROI for your channels
- Churn Rate - pinpoint where you are losing customers
More Great Ecommerce Resources
Have you used any of these analytics services? Did we miss your favorite? Let us know in the comments section below!
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