Unlock Your eCommerce Success: The Essential 5 Metrics to Track in Google Analytics
Fancy being let in on a not-so-secret-secret? Jellyfish Gin is my super fun and successful side hustle (the perfect gift for mothers day). It means that I know exactly what it is like to run a product lead business (and the challenges that come with it), but it means that I get to use all of my Marketing know-how and Google Analytics for my eCommerce business! And I will of course let you in on some of my secrets.
I understand the importance of having accurate data and insights to drive your business forward. When setting up an eCommerce website, there's a lot to consider, but it's important to take the time to ensure you've got your analytics configured correctly. That's where Google Analytics (make sure that you use GA4) comes in - it's a free tool that offers invaluable insights to businesses of all sizes.
What metrics should you be keeping an eye on?
Well, there are a few key ones that can really provide value to your eCommerce business. It can be tempting to get caught up in vanity metrics, but there are more relevant metrics to be tracking that can give you a real understanding of how your business is performing.
Glow Digital Marketing's Top 5 eCommerce Metrics suggestions for product based online stores:
eCommerce Revenue - this is one of the most crucial metrics to track. Understanding your revenue is essential to the future of your business, and there are various aspects of this metric that can provide valuable insights into how consumers interact with your online store.
eCommerce Conversion Rate - this is calculated by taking the number of people who visited your website and dividing it by the number who actually made a purchase. A conversion rate of 1-2% is considered good, but if it's below 1%, there may be a high number of new visitors to your website, which could indicate that your content is reaching a new audience that may convert in the future.
Top Conversion Sources and Paths - by identifying your strongest channels and those that result in the most conversions, you can focus your efforts on maximising their potential. You can also use this data to assess any weaknesses in your digital marketing and formulate a strategy to improve.
Average Order Value - Knowing your average order value is crucial for evaluating the growth of your business. This key metric can provide valuable insights into how to optimize your marketing strategies, as well as factors such as pricing. If you notice that your average order value is below your expectations, you can think about interdicting free shipping, upselling or even bundling products together (ie. Jellyfish Gin in a gift box).
Website Traffic - Keeping an eye on this metric is a top priority for any business. While the raw number may not offer immediate solutions, it offers a wealth of information about the visitors to your website. Through analysing your website traffic, you can gain a deeper understanding of the origin of your traffic (whether it's from new or repeat visitors) and the amount of time they spend on your site. This information can be used to make informed decisions about your website and marketing strategies.
So, there you have it - our top 5 eCommerce metrics to keep an eye on when using Google Analytics. If you're not sure how to make the most of Google Analytics for your business, why not get in touch with us at Glow Digital Marketing? Our team of experts has vast experience in helping businesses set up their Google Analytics, and whether you've already got it set up or are starting from scratch, we can help.
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