How to Properly Analyze the Analytics of Your Ecommerce Business

Tune in as Budai Media founder Daniel chats with Rumen Dimitrov, an expert in Shopify Speed and Conversion Rate Optimization!

It’s clear right from the beginning that both Daniel and Rumen are passionate about numbers and data, and they discuss the biggest problems, areas of concern, and solutions for ecommerce store owners to focus on.

Rumen says that lots of people would be shocked at how little even the largest and most successful ecommerce brands focus on their data, and with a little fine-tuning, you can iron out all the kinks and make a successful and profitable sales funnel for your store.

You can also learn more about:

✔️ The Good Clicks vs. Bad Clicks concept

✔️ The difference between leading metrics and lagging metrics

✔️ Shopify Analytics vs Google Analytics

✔️ Trusting the sales funnel and not trying to convert early on

✔️ Listening to your customers

Hit play and enjoy the full episode now!

Are You Getting Quality Clicks?

Daniel and Rumen talk about the misleading numbers associated with conversion rates, and how you can best figure out what is going on because every click is different.

Simply measuring click-through rates alone will never help you gain insight into how your website is functioning, and if you are generating lots of attention but making no sales, you are getting “bad clicks”. You can see this as an opportunity and not a problem, however, and figure out where you are losing people during the process.

Leading Metrics and Lagging Metrics

Leading metrics are predictive tools used to calculate sales and conversion rates. Generally speaking, leading metrics look forward to future events, while lagging metrics are used to figure out what has already occurred.

Understanding the relationship between your store’s leading and lagging metrics is necessary for success if you want to smooth out any problems and set yourself up for higher conversion rates.

What Data Analysis Tools Are Available?

Shopify Analytics and Google Analytics are the two most commonly used tools on the market, and both offer their own features. Shopify’s tool is easier for the average person to figure out, but lacks the tools, filters, and specific details that serious data-driven business owners want.

Google, on the other hand, offers enhanced ecommerce tracking, but can sometimes be overwhelming for people. The sheer offering of tools, metrics, and other data on Google Analytics is why it reigns supreme in the online data marketplace.

Let the Sales Funnel Do Its Job

Another important tip you can glean from this episode is to not try and convert sales to early. Rumen mentions that it is much better to bring someone to your site, offer them something of value while collecting contact information, and slowly warming them up to your brand.

First-time visitors rarely make a purchase, but building a rapport with them over time can be the best strategy for generating sales down the line. Let them warm up to you and trust your brand instead of pouncing right away!

The Customer Knows Best

It may seem obvious, but listening to the customer is actually the best thing you can do as a shop owner. Rumen discusses the many ways you can do that, like checking out customer service inquiries or offering a discount for helpful feedback.

If you have a hypothesis that is based on data or customer feedback, test it! There is a science to optimizing your website shopping experience, and you can even observe friends or family members testing your website to note inconsistencies or bugs that can be avoided.

Both Daniel and Rumen agree it’s best to take the time now to optimize your website rather than waiting until mid-November because Q4 and the winter holidays are fast approaching!

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