Analytics: analyzing data to maximize profits

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Businesses all need data to make important decisions regarding their growth, processes and goals. As an online seller, what data can you use to make these crucial decisions? Where is the best place to get it? Learn about the methods and tools you can use to analyze data and grow your business. It’s easier than you think!

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Analytics: analyzing data to maximize profits

  1. 1. Analytics: Analyzing Data to Maximize Profits<br />Alex Hackbart<br />Miva Merchant<br />
  2. 2. “Metrics and analytics are only valuable if you understand what they are telling you and provide insight into opportunities that you act on.”-@PricingWire<br />
  3. 3. Conversion Rate<br />Conversion Rate: The ratio of visitors who convert website visits into desired actions such as purchasing a product or submitting a form.<br />Conversion Rate = Goals Completed / Visits<br />
  4. 4. Conversion Rate<br />If 100 people visit a specific product <br />and 5 of them make a purchase, <br />your conversion rate is 5%<br />5/100 = 1/20 = 5%<br />
  5. 5. Why Worry About Conversion Rate?<br />More Sales Without More Visitors<br />Leads to a Better Shopping Experience<br />Easy to Understand With Proper Tools<br />You Can Start Today!<br />
  6. 6. Conversion Rate Killers<br />Poor Usability<br />Too Many Steps<br />Asking for Too Much Information<br />Shipping Too Expensive<br />No Clear Call to Action<br />
  7. 7. Tools for Analytics<br />Google Analytics<br />Crazy Egg<br />KISS Insights<br />Google Website Optimizer<br />GoSquared<br />…Tons of Others!<br />
  8. 8. Google Analytics<br />Free<br />Easy to Use<br />Easy to Install<br />Easy to Understand<br />Enough Power for Most Companies<br />
  9. 9. Google Analytics<br />
  10. 10. Google Analytics<br />
  11. 11. Profiles and Filters<br />
  12. 12. Profiles and Filters<br />
  13. 13. Profiles and Filters<br />Combining Profiles and Filters Allows You to Segment Specific Data<br />Filters Are Destructive!<br />Can Have Multiple Filters Per Profile<br />Allows for Customer Segmentation<br />Can Give Users Access to Specific Profiles<br />
  14. 14. Sample Profiles and Filters<br />Exclude Internal Visits<br />Only New Visitors<br />Paid Traffic<br />Organic Search Traffic<br />Organic and Paid Traffic<br />Returning Visitors<br />No Filters<br />
  15. 15. Goal Funnels<br />Goal funnels track user trends in a specific path to help reveal problems and drop-off points in your site<br />
  16. 16. Setting Up a Goal Funnel<br />
  17. 17. Goal Funnel Visualization<br />
  18. 18. Goal Funnel Visualization<br />
  19. 19. Overlay Mode<br />
  20. 20.
  21. 21.
  22. 22.
  23. 23. Always Have a Clear Call to Action!<br />
  24. 24.
  25. 25.
  26. 26.
  27. 27. Basket Page Analysis<br />
  28. 28. Basket Page Analysis<br />
  29. 29. Basket Page Analysis<br />
  30. 30. Checkout Pages<br />
  31. 31. Checkout Pages<br />
  32. 32. Checkout Pages<br />
  33. 33. Crazy Egg<br />Heat Map Visualization<br />Track User Clicks Anywhere<br />Easily Find Distractions or Wasted Clicks<br />Easiest Data Visualization<br />$9/month Plan<br />30 Day Money Back Guarantee<br />
  34. 34. Crazy Egg<br />
  35. 35. KISS Insights<br />Real Answers from Real Customers<br />Real-time Feedback<br />Answers to Questions Data Can’t Answer<br />High Response Rate<br />Custom Messages & Timing<br />Free Plan (with branding)<br />
  36. 36. GoSquared<br />Live Analytics<br />See Who is Interacting Right Now<br />Adapt Content On the Fly<br />Traffic Alerts<br />
  37. 37. Website Optimizer<br />Create Split Tests to a Common Goal<br />Test Effectiveness of Changes<br />Test Segments or Entire Pages<br />Pick the Winner, Start Again<br />Always Be Testing<br />
  38. 38. Website Optimizer<br />
  39. 39. Analytics<br />With the Right Data, Conversion Rate Optimization is Easy!<br />Use Customer Behavior to Make Effective Changes That Increase Sales With the Same Amount of Customers<br />
  40. 40. Analytics: Analyzing Data to Maximize Profits<br />Alex Hackbart<br />www.mivamerchant.com<br />@miva_merchant<br />

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