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In eCommerce and DTC, your customers have all the power. They’re armed with reliable product reviews from their peers, the ability to quickly compare prices between online stores, and the opportunity to vote with their wallets. Their expectations are high and to give them a reason to buy from you, you need to offer them the best possible online shopping experience. No matter how you slice it, there’s only one thing that will help you do it right: data. And that’s where ecommerce analytics come in.
Ecommerce analytics is the process of gathering data from all areas that have an impact on your online store and using this information to understand the trends and the shift in consumers’ behavior to make data-driven decisions that will drive more online sales.
Ecommerce analytics include metrics related to the full customer journey from discovery, to the acquisition, to conversion, finally to retention and advocacy.
The evolution in consumer demand, combined with technological innovations, will continue to drive growth in global eCommerce sales. The key drivers of success over the next decade will be centered on building a deep understanding of and connection to the empowered consumer, and the only way to understand consumer behavior is to measure and analyze.
Data from Deloitte shows that 49% of respondents say that analytics helps them make better decisions, 16% say that it better enables key strategic initiatives, and 10% say it helps them improve relationships with both customers and business partners.
Yet, it seems that companies are having a hard time navigating through all the numbers. Measuring and reporting on how ecommerce is performing as a distribution channel” is a top challenge.
Do you want to make better marketing decisions?
Understand Your Ecommerce Marketing Performance. Identify which marketing channels are working and which ones aren’t. Easy setup. No coding required.
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