How Online Retailers Can Benefit from Enhanced Ecommerce?
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Transcript of How Online Retailers Can Benefit from Enhanced Ecommerce?
#excelplugin
A GACP and GTMCP company
FREE Webinar bySept 9th, 2014
How Online Retailers Can Benefit from EnhancedEcommerce?
1 #tatvicwebinar
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A GACP and GTMCP company
Our speakers
2
Ravi Pathak
Cofounder @Tatvic
Mike Kwong
Software Engineer at Google
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Snehal Thakkar
Software Engineer at Google
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A GACP and GTMCP company
Outline of this webinar
3
What is Enhanced E-commerce in Google Analytics
Best Practices of Enhanced E-commerce
Overview of Reports of Enhanced E-commerce
Questions & Answers
Analysis that Makes Profit for You - GUARANTEED
#tatvicwebinar
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A GACP and GTMCP company
Payment/
Transaction
Existing Ecommerce
RefundAdd To Cart CheckoutProduct
Details
Related
Products
Remarketing
Ads
Best Sellers
Merchandising
Browse
Internal
Search
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Full Customer Journey for Ecommerce
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A GACP and GTMCP companyKey Benefits of Enhanced E-Com
5 #tatvicwebinar
• Gain Deeper Insights– Detailed tracking of entire shopping funnel– Upload rich product meta-data– Create Rich User segments for further analysis
• Optimize your site– Create product lists for onsite merchandising rules– Analyze how internal promotions impact sales
• Close the loop– With refund support, Google Analytics now covers the entire shopping
lifecycle.– Import user segments, based on ecommerce activity, for targeting in
your remarketing campaigns.
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A GACP and GTMCP companyInformation Architecture
Two kinds of analysis of web analytics data in e-commerce
– Shopping cycle Metadata (users’ properties, actions)
• How many transactions happened in this period?
• How many sessions began check out?
• How many sessions added products to cart?
– Product’s Metdata (Properties of products)
• Is this product getting enough visibility on my site (impressions)
• Is particular category of products driving enough revenue?
6 #tatvicwebinar
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A GACP and GTMCP companyProduct Metadata and Action
• Product– SKU– Name– Brand– Category– Variant– Custom Dimensions/Metrics
• Product Actions– click, detail, add, remove, checkout, purchase, refund
• Multiple products can be sent as a collection in a single hit (e.g. products purchased)
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A GACP and GTMCP companyProduct Impressions
• A page of an ecommerce site may contain– Popular Products
– Recommended Products
– Top Products by Category
– ……
• Product, clicks, CTR
• Multiple lists of product impressions can be sent
8 #tatvicwebinar
#excelplugin
A GACP and GTMCP company
Outline of this webinar
9
What is Enhanced E-commerce in Google Analytics
Best Practices of Enhanced E-commerce
Overview of Reports of Enhanced E-commerce
Questions & Answers
Analysis that Makes Profit for You - GUARANTEED
#tatvicwebinar
#excelplugin
A GACP and GTMCP companyBest Practices
• Plan– Enhanced Ecommerce allows varying levels of implementations
– Figure out what answers do you want• Shopping funnel insights?
• Internal campaign analysis?
• Refunds
• Profit analysis?
– How much data do you want to send vs import• Product data
• Refund data
• Custom data at different levels
10 #tatvicwebinar
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A GACP and GTMCP companyLevels of Implementation (1/4)
• Basic
– Instrument shopping cart and checkout pages
– Advantage: Biggest bang for your implementation efforts
– Possible Analysis
• Shopping funnel analysis to see drop off at important stages
• Transactions and revenue analysis
– Missing analysis
• Internal campaigns and promotions
• Product level visibility analysis
11 #tatvicwebinar
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A GACP and GTMCP companyLevels of Implementation (2/4)
• Intermediate– Instrument shopping cart and checkout pages
– Instrument product detail views
– Instrument checkout options
– Advantage: Full shopping funnel analysis
– Possible Analysis• Full Shopping funnel analysis to see drop off
• Transactions and revenue analysis
• Partial product visibility analysis (detailed pages only no impressions)
– Missing analysis• Internal campaigns and promotions
• Product impression analysis
12 #tatvicwebinar
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A GACP and GTMCP companyLevels of Implementation (3/4)
• Expert
– Instrument shopping cart and checkout pages
– Instrument product detail views
– Instrument checkout options
– Instrument product impressions and internal promotions
– Advantage: Full power of Ecommerce analytics
– Possible Analysis
• Full Shopping funnel analysis to see drop off
• Transactions and revenue analysis
• Internal campaigns and promotions
• Product impression analysis
13 #tatvicwebinar
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A GACP and GTMCP companyLevels of Implementation (4/4)
• Expert + Data Import
– Import product metadata
– Import refund data
– Import margins/profit data
– Advantage: Makes your reports more user friendly
– Possible Analysis
• Segment users that generate the most revenue/profit using rich GA data
14 #tatvicwebinar
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A GACP and GTMCP company
Outline of this webinar
15
What is Enhanced E-commerce in Google Analytics
Best Practices of Enhanced E-commerce
Overview of Reports of Enhanced E-commerce
Questions & Answers
Analysis that Makes Profit for You - GUARANTEED
#tatvicwebinar
#excelplugin
A GACP and GTMCP companyEnhanced E-com Reports
16 #tatvicwebinar
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A GACP and GTMCP companyProduct Performance Report
17 #tatvicwebinar
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A GACP and GTMCP companyShopping Behavior Report
18 #tatvicwebinar
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A GACP and GTMCP companyBrand Performance Report
19 #tatvicwebinar
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A GACP and GTMCP companyCustom Reports
• Which customer buys more after looking at product?
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A GACP and GTMCP companyAdvance Segments Example
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Actions :
• Stop Showing recommendations after one user views 10 products• The users who sees more than 7 products is very much ready to buy –
Throw Free shipping or discount at that Moment ONLY
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A GACP and GTMCP companySample Analysis
• Create Demand Index comprising of various user actions for products
• Plot ‘Demand Index’ vs. ‘% Revenue contribution’ to find opportunities for different products that needs exposure
22 #tatvicwebinar
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Factors for Demand Index for Products
• Cart to Detail Rate
• Buy to Detail Rate
• Ratio of Pageviews to Unique PVs for products
• Time on Product Page as % of total time in session
• Entrances Bounce rate
• Add to Wish list count for products
• Cart Removal for product(-ve indicator)
23 #tatvicwebinar
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A GACP and GTMCP companyDemand Index Factors
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Demand Index
Pageviews to Unique
PVs
Buy to Detail Rate
Add to Wishlistcount
Cart Removal for product(-
veindicator)
Cart to Detail
Rate
Time on Product
Page as % of total time in session
EntrancesBounce
rate
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Actions :• More Exposure to these products
• Free Shipping for these products
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0%
1%
2%
3%
4%
5%
6%
7%
8%
0 0.2 0.4 0.6 0.8 1
% R
eve
nu
e C
on
trib
uti
on
Demand Index
Demand Index vs. % Revenue Contribution
Profit %
8% of revenue
Demand Index vs. % Revenue Contribution
#tatvicwebinar
#excelplugin
A GACP and GTMCP company
Outline of this webinar
26
What is Enhanced E-commerce in Google Analytics
Best Practices of Enhanced E-commerce
Overview of Reports of Enhanced E-commerce
Questions & Answers
Analysis that Makes Profit for You - GUARANTEED
#tatvicwebinar
#excelplugin
A GACP and GTMCP companyProduct review score analysis
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1
3
4
6 6
0
1
2
3
4
5
6
7
1 2 3 4 5
Bu
y to
Det
ail (
in %
)
Avg.Product Review Score
Relationship between BuyToDetail and Avg. Product Review Score
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R = 0.72
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0
5
10
15
20
25
30
35
0 1 2 3 4 5 6
Pro
fit_
Mar
gin
%
Avg. Review Score
Review Score Analysis
Review Score Analysis
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Product_a
Product_b
Product_c
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Increase in Product B’s Review score Increase in Product B’s BuytoDetail Increase in margin
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A GACP and GTMCP companyWorkflow
Purchase
Review request email-1
Review request email-2
Review request email-3-20%
Off
Customer writes Review
ReviewScore
improves
Higher Revenue
from product
Better Margin
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Inspiration : Influence by Robert Cialdini
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A GACP and GTMCP companyProfit & Loss Calculation
30 #tatvicwebinar
P & L summary for review score improvement project based on Enhance E-commerce
Work flow items Head Units per month
# of products for scope for identification 1200
# of transactions 800
Avg. Profitability of products in scope 42%
# of emails sent per customer 3
Cost of sending an automated emails/customer $0.10
Total cost of emails $72
Probability of Customer's writing review 30%
# of reviews written 216
Avg. Basket Size $130
Discount on total value 20%
Cost of Discount Coupon $26
total cost of discount $5,616
Avg. % improvement in review score/Review 7%
resultant Improvement in Product BTD % 0.08%
Additional Revenue from increase in CR $35,768
Net Income from increased revenue $15,023
Net Benefit Net Benefit Derived Per MONTH $9,335
Email Cost
Discount Coupon Cost
Value of Benefit
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A GACP and GTMCP companyAdditional Resources
31 #tatvicwebinar
• Enhanced Ecommerce Resources - http://bit.ly/16RUhU8
• Watch Full Enhanced Ecommerce Webinar
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A GACP and GTMCP companyNext Webinar
Webinar: Understanding the Impact of TVAdvertisements on Your Website Traffic
You will learn:• Impact of TV Advertisement on Your Website
Traffic• Which Time Frame & TV Ad-spot gets most traffic• How Long a user engages with your website once
the Advertisement is aired
When: Oct 8th 11:00 AM PDT
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Watch Now
Guest Speaker
Siegfried Stepke(Founder E-dialog)
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33
Ravi PathakTwitter: @ravipathak
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Thank You!