As a Shopify Plus web development agency that works with some of the leading ecommerce brands across the globe, we have highlighted a key benefit of Shopify Plus, which is the increased visibility brands get to their data. But what does it all mean?
We’ve rounded up the most important data points businesses should look at when informing their ecommerce strategy.
- Traffic sources: Understanding where your traffic is coming from (direct, social media, search, email, etc.) can help you determine which marketing channels are working best for you and where you need to increase, decrease or optimize your efforts.
- Conversion rates: Tracking the percentage of visitors who complete a desired action, (purchase, convert to email, etc.) can help you measure the effectiveness of your website design and user experience.
- Average order value (AOV): AOV measures the average amount customers spend per order on your site. Increasing AOV can have a significant impact on your businesses revenue.
- Retention: It’s important to track how often customers make repeat purchases on your site. A low customer retention rate may indicate that you need to improve your customer experience, loyalty programs, or other marketing efforts.
- Cart abandonment rate: Cart Abandonment measures the percentage of customers who add items to their cart but don’t complete their purchase. Analyzing common reasons for cart abandonment (shipping costs, product pricing, etc.) can help you identify and address issues that are causing customers to abandon their purchases on your site.
- Product performance: Understanding which products are selling well and which ones are not can help you optimize your product offerings and identify opportunities for cross-selling or upselling.
- Customer feedback: Collecting feedback from customers through surveys, reviews, or other methods can provide valuable insights into what customers like and dislike about your site and how you can improve their experience. PIVOT clients love Yotpo & Okendo.
These are just a few examples of the data points that can be analyzed to understand consumer behavior on your Shopify Plus site. The most important piece of consumer data will depend on your specific goals and will change over time as your business scales. We recommend Shopify Plus to our clients because of the ability to collect and analyze data across multiple touchpoints, allowing you to use customer data to inform strategic decision-making and ultimately drive more revenue for your business.