--- layout: default_v3 language: default permalink: digital-analytics/e-commerce-data.html i18n_link: 3097 updated: 2021-03-02 #--- article key-values ---# collection: default_topiccluster t_keyword: E-Commerce Data tags: E-Commerce Data, Order Management Software type: supporting page_id: 3097 hreflang_id: 3097 parent_id: 3049 date_published: 2021-03-02 date_modified: 2021-03-02 #--- javascript schema ---# javascript_schema: - script: jquery_3_2_0_min - script: bootstrap_min - script: article_infinite_scroll - script: article_mix_infinitescroll - script: article_mix - script: article_mix_faq - script: article_mix_toc #--- section schema ---# section_schema: - section: nav-main_menu - section: article_body_v2 - section: footer - section: schedule_demo_cta #--- page key-values ---# meta_tags: t_meta_title: E-Commerce Data Analytics - 5 Types of Metrics to Track t_meta_description: E-commerce data analytics translates online consumer information so businesses can make sense of marketing, product, and sales performances. t_meta_abstract: E-commerce data analytics translates online consumer information so businesses can make sense of marketing, product, and sales performances. i_meta_image: article_body: json-ld_article: v_date_published: 2021-03-02 v_date_modified: 2021-03-02 author: p_author_id: 113 t_author: Chloe Henderson p_author_url: chloe-henderson.html i_author: 113.jpg t_author_description: Chloe received a bachelor's degree in journalism and mass communication from Ashford University and is currently a digital content creator for Hubworks. In her free time, she enjoys acting, writing, and spending time with family. p_author_facebook: //www.facebook.com/HubWorksApp p_author_twitter: https://twitter.com/HubworksApp p_author_linkedin: p_author_instagram: feature_snippet: p_type: text t_title: t_description: content: heading: t_title: E-Commerce Data Analytics - 5 Types of Metrics to Track t_description: E-commerce data analytics translates online consumer information so businesses can make sense of marketing, product, and sales performances. image: i_image: e-commerce-data-analytics-5-types-of-metrics-to-track-1614378443-1404.png t_image_description: name email v_image_attribution: E-Commerce Data v_image_license: pexels.com v_video: paragraphs: - t_headline: Introduction to E-Commerce Data t_text: Online companies are confronted with unlimited customer data, marketing campaigns, and other performance metrics, making it challenging to decipher their true meanings.

With e-commerce data analytics, online stores can define customers' areas of interest, pain points, and needs to improve their shopping experience. Through continuous improvement, organizations can boost online sales, income, and customer service. p_headline_type: h2 image: i_image: t_description: v_attribution: v_license: callout_text: - t_headline: What is E-Commerce Data Analytics? t_text: E-commerce data analytics involves gathering and interpreting information from every area that impacts an online store in order to understand consumer patterns. These trends typically include customer behavior, demand, buying, and engagement, and they enable businesses to make data-based decisions to improve marketing strategies, sales, and income.

This specific type of analytics uses metrics that quantify various activities throughout the customer's online shopping journey, from brand discovery to repeat purchases. By studying these areas, companies can improve retention rates and customer satisfaction.

With the constant drive in technological advancement, studies show that the number of e-commerce shoppers is expected to reach over 2 billion in 2021. This continuous influx of online consumers has experts predicting that the industry will gross up to $6.54 trillion in sales in 2022.

To take full advantage of this lucrative retail sales channel, an ecommerce business must have a thorough understanding of what its target audience wants. The best way to do this is by collecting critical consumer information that describes their pain points and preferences.

However, online retailers need a sophisticated analytics process to translate their collected data. Otherwise, the company is left with large volumes of raw, incomprehensible data. p_headline_type: h2 image: i_image: what-is-e-commerce-data-analytics-1614404136-8011.png t_description: E-Commerce Data v_attribution: E-Commerce Data v_license: pexels.com callout_text: - t_headline: 5 Key Digital Market Metrics to Track t_text: There are numerous amounts of metrics that companies can choose to track if they please. However, many businesses make the mistake of monitoring too many metrics at one time, which can overwhelm their system and developers. This makes it challenging to interpret and collaborate all of the information.

Instead, organizations should focus on the five primary e-commerce metrics, discovery, acquisition, retention, advocacy, and conversion rates. p_headline_type: h2 image: i_image: 5-key-digital-market-metrics-to-track-1614404136-5789.png t_description: E-Commerce Data v_attribution: E-Commerce Data v_license: pexels.com callout_text: - t_headline: Discovery t_text: The discovery metric refers to the information collected from the audience at the time they became aware of a brand. This data often includes the search or promotion that led them to the site, their demographic, location, areas of interest, and overall behavior.

Discovery commonly stems from search engine and social media advertisements, making it crucial to track other metrics.

p_headline_type: h3 image: i_image: discovery-1614404137-2605.png t_description: E-Commerce Data v_attribution: E-Commerce Data v_license: pexels.com callout_text: - t_headline: Acquisition t_text: Acquisition is the number of users that visited a site, as well as the respective cost. The cost of acquisition refers to the amount of time and money invested in attracting consumers to an online store.

There are a few different types of acquisition metrics that e-commerce businesses should track

p_headline_type: h3 image: i_image: acquisition-1614404137-1400.png t_description: E-Commerce Data v_attribution: E-Commerce Data v_license: pexels.com callout_text: - t_headline: Conversion t_text: Conversion is the process of converting first-time visitors into returning customers. Just because a user makes a purchase once does not mean that they will come back. In fact, businesses often experience shopping cart abandonment, where customers add products to their order but don't finalize the transaction.

Therefore, companies need to focus on completing conversion by monitoring the various factors that impact the shopping experience.

p_headline_type: h3 image: i_image: conversion-1614404137-6899.png t_description: E-Commerce Data v_attribution: E-Commerce Data v_license: pexels.com callout_text: - t_headline: Retention t_text: Acquiring customers is only half the battle of maintaining a stable income. Businesses must be able to retain shoppers to keep a regular influx of sales.

In order to monitor customer retention, e-commerce stores should monitor

p_headline_type: h3 image: i_image: retention-1614404137-4038.png t_description: E-Commerce Data v_attribution: E-Commerce Data v_license: pexels.com callout_text: - t_headline: Advocacy t_text: Once a business successfully attracts and retains their target consumers, they need to focus on advocacy. Studies show that consumers trust user-generated content, such as reviews and testimonials, more than promotions because they are unbiased. Therefore, companies need to foster brand ambassadors that spread positive messages about their products.

To do this, organizations need to monitor their net promoter score (NPS). This metric measures the willingness of customers to recommend a brand's products. The NPS enables management to categorize users into three segments.


Online businesses need e-commerce data analytics to define their strengths and weaknesses so they can continuously improve the customer experience. p_headline_type: h3 image: i_image: advocacy-1614404137-6457.png t_description: //pixabay.com/photos/smiley-happy-keyboard-enter-button-3692442/ v_attribution: //pixabay.com/photos/smiley-happy-keyboard-enter-button-3692442/ v_license: Creative Commons Zero callout_text: event_body: json-ld_event: t_name: Employee Scheduling for Restaurant Managers t_description: Attendees will learn how create excellent schedules. The class teaches managers how to estimate the number of employees they need to staff their locations; how to accurately forecast their customer demand; how to quickly and accuaratly write and communicate schedules to employees; and how to evaluate the accuracy and optimization of their schedules to make adjustments. v_start_date: 2022-08-08 i_image: p_location_name: Altametrics Online Webinar Course p_address: webinar.altametrics.com?site=altametrics v_price: 10.00 t_offer_description: Priority Registration v_registration_url: webinar.altametrics.com?site=altametrics ---