ANALYTICS FOR ECOMMERCE

Competitive edge

In a highly competitive eCommerce environment, senior decision-makers are increasingly bullish about the crucial edge that analytics provide for their business. Who doesn’t want to make incisive, evidence-based decisions to grow their customer base? It’s what all top performing eCommerce sites have in common.

Road to success

So why are there not more eCommerce success stories? All too often analysis is conducted in a makeshift manner with inconclusive results. The roadmap to success is a strategic process. Panalysis applies a strict framework of purpose, structure, focus and discipline to achieve the desired outcome.


Purpose

The first step of the process is to establish the client’s current position and outline their goals. It’s about having a clear purpose.

Panalysis starts by conducting a full technical audit of tagging and Google analytics configuration, completing a comprehensive checklist to ensure you are gathering and processing the right data. This ensures a strategy is based on reliable information.

We then use a set of critical metrics to take an eCommerce benchmarking snapshot (EBS) to identify potential issues and opportunities for the business.

Finally, we will run a workshop with the client’s key stakeholders, completing the picture of high-level aims and objectives.


Structure

Having completed the first stage, the client now has a digital marketing and measurement model containing objectives, goals, key performance indicators and targets, all geared to revenue growth.

With the foundations firmly laid, Panalysis will design and build a structured framework for analytics. This includes automated intelligence alerts and regular diagnostic processes and checklists to provide an early warning system to verify and triage potential issues or opportunities.


Focus

To maintain a sharp ongoing eCommerce focus, each of the issues and opportunities logged will be assessed using statistical variance, randomness and signals to filter out noise.

The remaining items will be prioritised in consultation with the client on a matrix of business impact versus ease of execution. This offers a balance between capitalising on instant opportunities and pursuing strategies with the biggest potential gain.

This prioritisation enables the client to make evidence-based decisions about the growth of their business.


Discipline

Panalysis will configure eCommerce dashboards to meet the individual client’s needs, allowing key stakeholders to monitor performance of KPIs in a disciplined manner.

By following the outlined structure and staying focused on the key goals, you will be well on the road to the goal of strong revenue growth.

 

Ready to start making incisive, evidence-based decisions to grow your eCommerce business? Contact us when you’re ready.