Collect and analyze purchase and transaction data.
Use ecommerce tracking to find out what users buy through your site or app, including information about:
- Products: Which products they buy, in what quantity, and the revenue generated by those products.
- Transactions: The revenue, tax, shipping, and quantity information for each transaction.
- Time to Purchase: The number of days and number of sessions it takes to purchase, starting from the most recent campaign through the completed transaction.
Based on this data, you can develop an understanding of:
- Which of your products sell well, and by inference, which of your products are best suited for your customer base and which ones are supported by your best marketing efforts. A poorly selling product may not necessarily be the wrong product, but may have the wrong marketing behind it.
- The revenue per transaction, and the number of products per transaction. For example, if the number of products per transaction is lower than you'd like, you might benefit from offering better quantity discounts, or eliminating shipping costs if customers meet a minimum dollar amount.
- How long it takes customers to make the decision to purchase, and how many sessions to your site it takes to induce them to purchase. For example, if your sales cycles are stable, or fluctuate predictably based on product or season, then you can use that information (in conjunction with overall sales forecasts) to make reliable predictions about revenue. If customers routinely make numerous visits before they purchase, you might think about a site design that leads more easily to your purchase pages, or options that let users compare your products and prices to your competitors'.