What do you need an analytical system for? A real case of e-commerce project sales growth by 228%
Most managers don’t understand the real value of analytics and don’t even want to implement it for their projects no matter what it is — a site, an e-commerce project or media portal. It all starts with questioning yourself — what conversion do I have on my website? What percentage of ROI is there? What percentage of uncompleted orders is there?
What do you need an analytical system for?
If you are working with sales you are worried about essential problems:
1. Return on investment
2. Assortment analytics
3. Uncompleted orders
4. Your website like a black box
First of all, I will share the case of car optics e-commerce project with you. Thanks to the cool guys from IO analytics who helped us increase ROI from 90% to 228% in 2 months in example of Google Adwords campaigns optimization. Regarding the fact that the minimum level of ROI needed to be above 150% to reach the break-even point.
Essential problems
1. No understanding of marketing and advertising budget efficiency — context ad, targeting, facebook, e-mail, Google Merchant and so on. Put simply, you’re making an advertizing campaign, getting clicks. But you don’t know which campaign leads to a sale, and which one is not.
2. Customer behavior and his acts on the website — you might have pages, order forms, or some other elements on your website that are technically defective. Or they are just excess ones and customer gets tired trying to fill them up and finish the order.
3. How to manage assortment lines — after analytics implementation you will understand which products are selling the most (be careful, you might be wrong thinking about top sellers on your website and you’ll waste you marketing budget on them) and then you will be flexible to manage merchandizing and marketing tools, so you will have your top sellers on the main point of view for your customers.
What have been done after analytical tool implementation?
1. Unprofitable marketing campaigns were stopped.
2. Profitable campaigns got additional investments.
3. A lot of A/B tests and experiments were made. We were changing headers and descriptions of the campaigns. The order form was totally rebuilt so we made the sales funnel more simple.
4. A lot of decisions were made regarding assortment lines. What do we need to supply and what we don’t. Which products need additional marketing promotions — some obsoletes and bundles to clear the stock.
5. We put together all SEO keywords that were giving income so the SEO specialist could use it to promote the website better.
6. The gross sales were increased by 20% — after IO analytics implementation we found a lot of customers leaving our website with uncompleted orders. So we were calling these customers and trying to help them complete their orders due to e-mails that IO were sending us with the contact information of our customers. This information was also transferred to our CRM.
