Download - Analytics: analyzing data to maximize profits

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

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

Overlay Mode

Always Have a Clear Call to Action!

Basket Page Analysis

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

http://www.mivamerchant.com/