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Jocelyn Hendrickson

Senior Product Manager ďż˝

Sponsored by:

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Ecommerce Analytics for WordPress: Navigating Data to Propel Online Success

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Sales Data

Pricing Strategies

Customer Buying Habits

Market Trends

Product Information

Inventory Levels

Operational Efficiency

Supply Chain Efficiency

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Why Ecommerce Analytics Matter

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Why Ecommerce Analytics Matter

Decision Making

Market Trends

Business Growth

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Why Ecommerce Analytics Matter

  1. Decision Making
    1. Descriptive
    2. Diagnostic
    3. Predictive
    4. Prescriptive

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Why Ecommerce Analytics Matter

  • Market Trends
    • Time Series
    • Pattern Recogntion
    • Predictive Modeling

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Why Ecommerce Analytics Matter

  • Business Growth
    • Testing
    • Market Segmentation
    • Engagement
    • Revenue

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Key Performance Indicators (KPIs)

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Conversion Rate (CR)

Percent of visitors who complete a desired action on your site.

CONVERSIONS�TOTAL VISITORS

CR =

X 100

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Cart Abandonment Rate (CAR)

The percentage of customers who add items to cart but do not purchase

COMPLETED PURCHASES�CARTS CREATED

CAR = 1 -

X 100

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Average Order Value (AOV)

Average amount of money customers spend per order.

TOTAL REVENUE�NUMBER OF ORDERS

AOV =

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Revenue Per Visitor (RPV)

The average amount of money that you earn from each visitor to your site.

TOTAL REVENUE�NUMBER OF VISITORS

RPV =

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Customer Acquisition Cost (CAC)

Average amount of money that you spend to acquire a new customer.

MARKETING EXPENSES�NEW CUSTOMERS ACQUIRED

CAC =

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Customer Lifetime Value (CLV)

Total amount of money a customer is expected to spend in their “lifetime”.

AVG VALUE OF SALES Xďż˝ NUM REPEATED SALES Xďż˝ AVG RETENTION TIME

CLV =

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Customer Retention Rate (CRR)

The percentage of customers who continue to buy from your site.

END - NEW�START

CRR =

X 100

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Customer Retention Rate (CRR)

The percentage of customers who continue to buy from your site.

Fun fact: when customers leave this is sometimes called “churn”

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Bounce Rate

The percent of visitors who leave your site after viewing only one page.

SINGLE VISITS�TOTAL VISITS

BR =

X 100

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Page Load Time

The average amount of time it takes for a page on your site to load.

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Which KPIs Should I Use?

Define your

business goals

Industry Standards

Prioritize actionable metrics

Start small and refine

Consider customer journey

Align KPIs �with business goals

Understand your target audience

Use analytics tools

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Customer Behavior �and Analytics

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Customer Journey Mapping

AWARENESS

CONSIDERATION

DECISION

RETENTION

ADVOCACY

Discovery of your brand

Evaluation and comparison

Complete the purchase

Loyalty to

your brand

Sharing why they love you

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Behaviors to Track

Traffic Sources

Behavior Flow

Goals

User Flow

Events

The actions visitors take on our site

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Behaviors to Track

Traffic Sources

Behavior Flow

Goals

User Flow

Events

The interactions with specific site elements

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Behaviors to Track

Traffic Sources

Behavior Flow

Goals

User Flow

Events

The path visitors take through a site

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Behaviors to Track

Traffic Sources

Behavior Flow

Goals

User Flow

Events

The origin of our website visitors

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Behaviors to Track

Traffic Sources

Behavior Flow

Goals

User Flow

Events

The outcome we want from visitors

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Tools and Techniques

for Data Analysis

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Tools and Techniques for Data Analysis

  1. Data Collection
  2. Analytics Tools
  3. Data Interpretation
  4. Data-Driven Decisions

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Tools and Techniques for Data Analysis

  • Data Collection
  • Analytics Tools
  • Data Interpretation
  • Data-Driven Decisions

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Tools and Techniques for Data Analysis

  • Data Collection
  • Analytics Tools
  • Data Interpretation
  • Data-Driven Decisions

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Tools and Techniques for Data Analysis

  • Data Collection
  • Analytics Tools
  • Data Interpretation
  • Data-Driven Decisions

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Tools and Techniques for Data Analysis

  • Data-Driven Decisions
    1. Collect
    2. Analyze
    3. Decide
    4. Act
    5. Repeat

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Tools and Techniques for Data Analysis

  • From Data to Strategy
    • Collect
    • Analyze
    • Decide
    • Act
    • Repeat

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Tools and Techniques for Data Analysis

  • From Data to Strategy
    • Collect
    • Analyze
    • Decide
    • Act
    • Repeat

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Tools and Techniques for Data Analysis

  • From Data to Strategy
    • Collect
    • Analyze
    • Decide
    • Act
    • Repeat

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Tools and Techniques for Data Analysis

  • From Data to Strategy
    • Collect
    • Analyze
    • Decide
    • Act
    • Repeat

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Tips & Traps

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TIP

TRAP

Use multiple data sources and methods to cross-check and validate your data.

Rely on a single source that may be biased, incomplete or otherwise unreliable.

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TIP

TRAP

Use relevant and meaningful metrics that align with your goals and objectives.

Use vanity or irrelevant metrics that don’t reflect performance or outcomes.

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TIP

TRAP

Use data and insights to support and inform your decisions and actions.

Use data and insights to justify or rationalize your decisions and actions.

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TIP

TRAP

Use context and comparison to understand your data and insights better.

Use data and insights in isolation or without reference to other factors.

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Q & A