E-commerce Analytics: A Beginner’s Guide



Analytics for an online store is what eyes and ears for a human. With analytics, you can get deeper insights about customer behaviour. This guide is specifically designed for beginners in mind, providing you with the terms you need to know and the numbers you should be looking at. No more, no less.
Why you need analytics for your e-commerce store?
When you run a physical store, you are well aware of your performance because you see your customer behaviour. In an online store you don't have such a view, so analytics become your monitoring tool.
With a comprehensive understanding of your customers’ actions, you can better serve them, and increase sales.
Setting up Google Analytics and Facebook Pixel
Google Analytics
You need to be able to edit your own site or have someone available to install the scripts for you.
You need to either…
a)    Redesign your site into a novice-friendly platform that is easy to edit.
or
b)    Get access to your content management system (CMS) or FTP logins from your web designer.
If you are a WEBXPAY XPRO customer, chances are your Google Analytics is already set up.
Step 1. If you have a primary Google account, you can set up your Google Analytics using it. If not create a new one.

Step 2. Now open Google Analytics and click on Sign in, to Google Analytics to find the 3 steps for setting up. Assuming you have one website and only need the default view the setup screen would look like this.
Step 3. Install your tracking code: Now click on “Get Tracking ID”. You will get a popup of the Google Analytics terms and conditions, and agree with to get your Analytics code.

This code must be installed on every page on your website. The installation will depend on the type of the website.
For WordPress on your own domain-  Use the Google Analytics plugin.
For a website built with HTML files-  Add the tracking code before the </head> tag on each of your pages. Use a text editor program (such as TextEdit /Notepad) and upload the file to your web host using an FTP program.
The installation of Google Analytics varies based on the below factors.
•    Platform
•    Theme
•    Plugins
Search on the web to find installation instructions.
Step 4. Setting goals: To configure goals, click on the Admin link at the top of Google Analytics, then click on Goals under your website's View column.


Facebook Pixel
Pixels are used to drop a cookie to track visitors on your website for remarketing.  They can also be used to track their behaviour when they revisit your website. With Pixels, you can have a better understanding of Facebook ad performance and your target audience.
The set up for Facebook pixel works similarly to Google Analytics.
Step 1. Create your Pixel by clicking on the Ads Manager menu and select "Pixels" under "Assets".

Step 2. Create a new Pixel if you haven’t already and name your Pixel to finish creating.

Step 3. View Pixel and to copy the code: Your Pixel code will pop up. For proper functioning, Pixel should be displayed on every page of the website. For optimal functioning, put the code in the <head></head> section of your index page.
For more information visit, Getting Started with Facebook Pixel
WEBXPAY merchants who need their Facebook Pixel set up can contact one of our Digital Marketing Experts, here (Please link your contact up page to the highlighted text).

Interpreting Data
Each data point of Google Analytics helps you learn about your customer behaviour and such a deep insight about your online store will take you to greater heights.
Metrics for Performance Evaluation
·         Returning Visitors: The percentage of users who return to your site after their first visit. A good ratio of returning visitors to new visitors is above 20%.
·         Time on site: The average amount of time users spends on your site per visit. Usually, a good average time on site is above 120 seconds.
·         Bounce rate: The percentage of users who visit a single page on your website and then leave before taking any action. A high bounce rate (usually above 57%) means your site is not giving a good first impression.
·         Pages per visit: The average number of pages that users navigate on your site in a single visit. A high number of pages per visit (around 4) indicates that people are interested in your products.
These metrics can be accessed via Google Analytics. They appear under Audience > Overview
  
If any metrics are below average, you should come up with solutions.
Conclusion
SMEs in Sri Lanka should collectively become a viable alternative for shoppers to stand against the increasing monopoly. It can be achieved by offering standardized websites and understanding, analyzing and acting upon data.
With increased accessibility to data, if Google Analytics and Pixel are used properly, a significant difference in customer shopping experience can be made.

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