Strategic E-Commerce: Unleashing the Potential of Customer Analytics in Shopify

Introduction

Analyzing how your customers interact with your business is essential in today’s world of cutthroat competition. Shopify, one of the leading platforms for e-commerce business, provides useful analytics and reports so that you can analyze customer behaviour and channel your decisions in the right direction.

Let us explore what the customer analytics provided by Shopify are and what insights we can gain from them.

Exploring Shopify Reports and Analytics

You can see everything that is going on in your store in real time with a live view.

Live Visitors

The number of users who have visited your website actively in the last 5 minutes.

It Includes:

1. Total sales - These are all transactions made on your e-commerce website at midnight.

2. Total sessions - The total number of sessions since midnight by all users.

3. Top location: The area from which most customers enter your establishment

4. First-time customers: Those who have never ordered from your store before

5. Top goods - Items with the highest proportion of sales since midnight.

6. Active carts: Products added to the cart in the previous 10 minutes

Customer Insights to Gain

1. Top-selling products

2. Customer demography

3. Requirement of optimization on websites

Reports

Acquisition Reports

It includes:

1. Sessions: Number of customers and sessions your store has received over the specified period

2. Sources of Traffic: The sources (direct, search, social, and referral) from which customers are visiting your store

3. Demography: Locations customers are accessing your store from

Customer Insights to Gain

1. Identifying your top traffic sources for a more focused marketing and advertising budget.

2. Make a note of where the majority of your traffic originates from so you may create regional marketing or promotions.

Customer Behavior Reports

It includes:

1. Conversion over time: Metrics include add-to-cart rate, checkouts started, and conversion rate for online stores

2. Online store speed: How quickly your store loads

3. Product recommendation conversion: This metric will be displayed only when you use the product recommendation features. It consists of clicks (on suggested products), additions to the shopping basket, and a successful transaction

4. Top searches: It gives you a list of the most popular online store searches (keywords) made for your store

5. Top searches that produced no results: List search terms that returned no results from your online store. It offers you a sense of the discrepancy between your client's needs and your products

6. Sessions by landing page: It reveals the page on your e-commerce website where buyers first arrived

7. Sessions by device: What device are your consumers using to access and engage

8. Online store cart analysis: Displays the items that customers have recently added to their carts

Customer Insights to gain

1. Write great product descriptions.

2. From the time you land on the site until you check out, optimize your retail experience.

3. Based on consumer behaviour, tailor your marketing and advertising initiatives.

4. Develop upselling and cross-selling tactics for your ideal target market

5. Based on purchasing trends, create promotional pricing and product packages.

6. To provide a seamless shopping experience across devices.

7. Develop more efficient marketing efforts to raise average order values.

Customer Reports

It includes:

1. Customers who are making frequent purchases.

2. Customers who have made at least one purchase over time.

3. The value created by both new and recurring consumers.

4. Customers who have made at least one transaction but have not placed an order in the previous 30 days

Customer Insights to Gain:

1. Send promotional emails to at-risk clients and reconnect with them.

2. Helps create customer segments.

3. Recognize devoted clients and reward them with exclusive discount deals.

4. Create a plan to turn one-time customers into devoted ones.

5. Discover the average client lifetime value.

Marketing Reports

It includes:

1. Referrers: The avenues and resources directing visitors to your website

2. Interactions: Know the customer's first point of contact (referrers) with your brand

3. Average order value: Average purchase quantity made by clients referred by a particular source

4. Sales attributable to marketing: Sales that can be traced back to trackable marketing activities

5. Payments versus sales: Depending on the payment options you accept, the number of sales you've made, and the actual payment amount you've received

Customer Insights to Gain:

1. Find your top sources of traffic to keep your store's top-of-the-funnel fuelled.

2. Determine your best conversion sources to put more money into the media that generate sales.

3. Recognize how many encounters and channels are necessary to convert an online shopper.

4. Give referrals visible average order values to plan promotions with higher profit margins due to their spending.

Product Report

It includes:

1. Net sales by channel: The sales channel that produced the most incom

2. Net units: Number of products sold by clients from various traffic sources

3. Customers: The proportion of new customers who made an order versus those who had previously made at least one purchase

Customer Insights to Gain:

1. Find your top-performing and bottom-performing products.

2. Plan marketing efforts centred on a specific product.

3. For products that sell well, develop up-sell and cross-sell techniques.

Conclusion

E-commerce companies can make wise judgments and streamline operations by utilizing Shopify Reports' customer insights. You may personalize marketing efforts, raise customer happiness, and boost sales by knowing customer behaviour, preferences, and purchasing trends.

Data analysis is quite difficult to gain insights and make the decisions that generate results. With their comprehensive e-commerce management services, Gonukkad can help you get a competitive edge. If you want to grow your business online, check out the services of Gonukkad.