Whether it’s because of new technologies, how easy and cheap they are to use, how quickly smartphones are becoming popular, or just how convenient it is to shop online, the e-commerce industry is booming.
Statista says that worldwide retail e-commerce sales reached about $5.2 trillion (US) in 2023 and don’t look like they’ll slow down any time soon. In fact, this number is expected to grow by 56% in the future, reaching about $8.1 trillion by 2029.
Because of this, it is important for e-commerce companies to be able to reach as many people as possible, stay competitive in such a crowded market, and, as a result, make more sales. And that’s when the right tools for analytics will come in handy.
But because there are so many business automation solutions on the market today, it can be hard to choose the right one for your business’s needs and goals. This is especially true when you think about how many analytics tools have a lot of different features.
You’ve come to the right place if you’re thinking about using e-commerce analytics tools for your business for the first time or if you’re looking for ways to improve the tools you already have. Here are the top five analytics tools that we think will help you increase sales. Let’s dive in!
Brandly360 is one of the most useful and flexible tools for monitoring e-commerce that you can use today. It lets you get information about the prices and availability of competing products, as well as the general product and brand positioning of competitors.
The tool then sends you accurate data that is ready to use every 10 minutes. This takes all the guesswork out of your pricing strategy and online sales management.
Some of the most helpful features and functions of this tool are:
- Keeping Track Of Prices And Stock. This lets you control your own sales and prices based on how the market is moving.
- Checking And Judging How Well Marketing Activities Are Being Carried Out. So, you can figure out how well your marketing campaigns are working, figure out what needs to be changed, and come up with better plans.
- Keeping An Eye On How Competitors Market Themselves. This helps you figure out if you have an edge over your competitors or how to get a bigger share of the market.
- Reports On Distribution. Gives you information about how your products are doing in the market compared to what your competitors are doing.
- But This Isn’t The End Of The List. You can also keep an eye on ad banners, have your product descriptions looked over, keep an eye on how your products are rated and reviewed, and look into cross-selling monitoring. The experts at Brandly360 say that their data analytics solutions will save you up to 80% of the work you would have to do on your own.
This gives the company a smart way to increase sales and gives people more time to come up with creative solutions.
On average, 55% of users stay on a page for less than 15 seconds, so that’s all the time you have to get their attention.
Crazy Egg is an analytics tool that helps you make your website more user-friendly and customer-focused so that your prospects can have a better shopping experience. Using this tool makes users more interested in your website and improves the way it works, which is good for your sales.
For the latter, Crazy Egg gives you a few ways to do it:
- Heatmaps Are Snapshots. This feature takes a snapshot of your website’s pages at a certain point in time. The snapshot is then analyzed by several different reports, such as heatmap, scrollmap, confetti, overlay, and list reports, which give valuable information about how customers interact with page elements and how they are laid out.
- Recordings. You can watch videos of real people using (or having trouble with) your website. This lets you know how long people stay on your website, which parts get the most attention, and which ones they skip. You can then make changes to those parts.
- The A/B Test. You can try out different headlines, calls to action (CTAs), and product descriptions quickly and easily with a split testing setup. This lets you keep optimizing with instant results. You can now use data to choose ideas that will really sell.
- Look At The Traffic. With this feature, you can look at traffic based on where your visitors come from and compare how well they do on your site.
- Mistake Tracking. Automatic error detection gives you exact information about each error that happens on your website and shows you which ones stop visitors from converting and should be fixed right away.
- Surveys. This one is the only way to get targeted, unbiased customer feedback and measure the customer experience. Knowing what your customers want is the first step to increasing conversions.
Crazy Egg lets you track how customers use your website and see how they interact with it or what they expect so you can improve your conversion rate.
Hotjar is another tool for analyzing how people use your website. It lets you see how people interact with your pages. It gives useful information about how users act, like what they click on, how far down they scroll, where they get stuck, and so on.
This information can be used to make your website or online store a better overall experience for users, which will lead to more sales.
Some of Hotjar’s most useful features are as follows:
- Heatmaps. With this feature, you can see where on your website pages people click, tap, and scroll. You can use this information to figure out which parts of your website need to be changed to make them easier to use and more interesting. You can also compare how people use your site on desktops, tablets, and phones to see how their behavior changes depending on the platform.
- Recordings. Like Crazy Egg’s, these show you how people use your website in real time, so you can see if there are any problems.
- Conversion Funnels. Help you keep track of conversions and see where people leave your website so you can find and fix any problems that may be causing them to leave.
- Analysis Of Form. It lets you see which form fields are used the most and which ones aren’t used at all. You can also see how long it takes visitors to fill out your forms, if they have any problems, and, most importantly, why they don’t click the “submit” button. Simple web forms that are easy to fill out have a big effect on lead generation.
- Polls For Feedback. Help you get feedback from your site’s visitors right away and on the spot, so you can fix any problems they may be having and make their experience better.
Besides all of these features, Hotjar also has a number of integrations that make it even more flexible and easy to use. For example, you can connect it to popular content management systems like WordPress, Shopify, and Wix, as well as customer relationship management systems like HubSpot and Salesforce.
Woopra is a software tool for analyzing customer journeys and products. It collects data on every interaction with a customer and gives overall insights that help improve the customer experience and, in turn, boost sales.
The features of Woopra are made so that you can track and analyze the customer’s journey across all channels, devices, and touchpoints. This lets you find problems and improve your marketing strategy.
Some of the things this tool can do to help with analysis are:
- Journeys. Reporting on the customer journey tells you which campaigns bring in your target audience and which keep them coming back. You can also see how live chat affects your sales or if your retargeting campaign is giving you the results you want.
- Trends. With Trends reports, you can look at the growth of revenue from many different angles, such as location, type of subscription, version, and more.
- Reports on groups. By looking at how different groups of your visitors act, you can find both potential problems and chances to grow.
- Retention. Churn reports tell you when customers start leaving, who they are, and how much they are worth. You can also track the rate of engagement over time and find the behaviors that keep people coming back.
- Behavioral segmentation. With this feature, you can divide users into groups based on any combination of criteria.
- At first, Woopra might seem like a lot, but once you’ve set it up, the results will blow you away. When you know how your prospects act across product, marketing, sales, and support touchpoints, you can give them an experience that makes them want to buy from you and keeps them coming back.
Analytics from Google
Google Analytics is last but not least. It is the most popular tool in the world for tracking and analyzing the performance of your website. It is also one of the most powerful because it analyzes all aspects of e-commerce and has a lot of features.
Google Analytics gives you access to data and reports about traffic and how people use your site. These can give you valuable information about:
how users find your site and where they came from, what pages they visit and how long they stay on each page, what actions they take and how many of them are hidden, and other general information about your site’s visitors.
Google Analytics reports let you: Use this information to improve your website or online store to get more leads and sales.
Track conversions and purchases, evaluate the performance and effectiveness of your marketing campaigns, figure out how to improve the performance of your page, identify your target audience, and make sure your content and marketing efforts are geared toward them.
Aside from reporting and visualization, some of the most important Google Analytics features include, but are not limited to, tag management, funnel analysis, data activation, integrations, and smart goals. The second one lets you set specific goals and track your progress, which is important for any kind of e-commerce business.
Google Analytics might be considered a standard tool, but that doesn’t mean you should pay less attention to it.
These five are the most powerful analytics tools that e-commerce businesses can and should use to their advantage. You just need to choose the one that fits your business’s needs and goals.
For example, Crazy Egg or Hotjar are perfect if you want to focus on how easy it is for people to use your website, while Bradly360 is better if you want to find ways to change your pricing strategy. On the other hand, Woopra and Google Analytics are best used for your marketing campaigns because they give you detailed information about how well they are doing.
Setting smart, realistic goals is the first step to running a successful business, no matter what kind it is. After that, you can use these five analytics tools to help you reach your goals. Best of luck!