Online marketing are two words that you keep hearing more and more, and for good reason. Marketing online has quickly become the most important form of marketing, gone are the days of buying newspapers, watching television and listening to the radio for news, information and advertising. It is important for businesses like Cloud IQ to realise this shift and put more emphasis on internet marketing, analytics for e-commerce website are one of the most powerful ways of doing this.
What are analytics?
Analytics are simply pieces of information that can be used to track and assist with your marketing, analytics tell you an unbelievable amount about the way people behave when they visit websites, how they got there and many other things.
What will analytics show you?
Analytics can show you a never ending list of things about the way your customers and visitors behave on your website, these include:
- Showing you what is working and what is not – the information will show you what exactly is working and what is not, this will give you the opportunity to focus on the things that you perhaps did not notice before. It can show you a clear link between things like sales and particular campaigns and allow you to make changes.
- Showing you everything and more – analytics can show you more than you could possibly imagine in terms of behaviour and this is more than any one person can interpret, this makes it important to look at indicators that are the most important and form links between large events rather than small ones.
- Shows you what is profitable – data will show you where you are spending too much time, effort and money, and will ultimately show you what is profitable and what is not.
Analytics are the key to conversions
Relevant statistical information allows you to identify problem areas and make the necessary changes, the greatest thing is that you can figure out what is working and what is not. You can use test groups that are marketed to in different ways and then begin to change variables, at that point you will know what small changes are making the big differences.
Aids in decision making
Analytics also provide you with the opportunity to make key decisions about your e-commerce business, it not only gives you an advantage over competitors that don’t use this information, but allows you to understand trends and identify when marketing is stagnating or no longer generating profit. This allows you to always be aware of your position and make decisions that are necessary.
Understanding trends and which marketing channels are no longer profitable allows you to maneuver as a business before damage is done to your bottom line. And, understanding shifts in consumer behavior gives you insights into the demands of your market. Knowing these things enables you to drop certain products or make strategic changes in your pricing that will result in big gains or, at the very least, limit damage to your profits.