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Web Analytics & Conversion Optimization: Analyzing and Improving E-Commerce Conversion Rates

Web Analytics & Conversion Optimization: Analyzing and Improving E-Commerce Conversion Rates. Presented By: Michael Jozaitis – Team Leader, Search Engine Marketing Snighda Gupta – Conversion Analyst. Analytics & Conversions - “Life of E-commerce”. Analytics & Conversions Optimization.

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Web Analytics & Conversion Optimization: Analyzing and Improving E-Commerce Conversion Rates

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  1. Web Analytics & Conversion Optimization:Analyzing and Improving E-Commerce Conversion Rates Presented By: Michael Jozaitis – Team Leader, Search Engine Marketing Snighda Gupta – Conversion Analyst

  2. Analytics & Conversions - “Life of E-commerce”

  3. Analytics & Conversions Optimization • Brother & Sister • One In The Same • Analytics & Optimization Form A Circle • Understand Data & Act Upon It • What Am I Doing & What Can I Improve Upon? • Set Goals & Act Upon Them

  4. What Can Analytics Tell Me? • Areas To Optimize - • Navigation Path? • Site Structure? • Categorization? • Checkout Conversion Rate • E-commerce Conversion Rate • New Or Additional Content • New Images? • Color Scheme / Theme • Product Descriptions / Images

  5. Core Analytics Concepts • Seasonality / Trend Tracking • KPI – Key Performance Indicators • eCommerce Conversion Rate • Sales, Design & Navigation Insights • Data Context & Comparisons • Sample Size

  6. KPI's - Explained • Conversion Rates • Bounce Rate / Stickiness • Time On Site • ROAS (Return On Ad Spend) / ROI (Return On Investment) • Depth Of Visit • Buying Cycle – Time / Visits To Purchase • Context / Comparison

  7. Traffic Sources Pt. 1 • Paid Traffic • Organic Traffic • Social Traffic • Direct Traffic • Affiliate • Referrals • E-Mail Marketing

  8. Traffic Sources Pt. 1 • Medium By Revenue & Profitability • How Can Each Be Optimized? • How Can Each Be Improved? • By What Rate Or Metric Do We Want To Improve? • What Will We Put In Place To Increase Conversion Rates?

  9. Signals That Scream “Optimize” • High Bounce Rate • High Exit Rate • High Cart Abandonment Rate • Safe-Shopping Concerns • Low Page Views • Policy / Pricing Concerns • No Site Content • Low Conversion Rate (By Segment Or Overall)‏

  10. Optimize • Conversion Optimization • Conversion Funnel • Steps to Conversion Optimization • Checkout Optimization • Best Practices • Summary of the results

  11. Conversion Optimization… …is the process of maximizing the percentage of website visitors who complete a desired action (this percentage is known as your conversion rate). # of people taking the desired action # of people clicking your ad x 100 Conversion Rate % =

  12. Conversion Funnel

  13. Funnel Steps • Home Page • Category Page • Sub-category Page • Product Page • Shopping Cart

  14. Funnel Optimization Steps 4. Product Page 3. Sub- category Page 5. Shopping Cart 1. Home Page 2. Category Page

  15. Checkout Optimization • Once the customer decides to buy from your site, providing the credit card information is a major point of friction. • Optimizing cart is one of the vital parts of funnel optimization steps.

  16. What Yahoo Gives

  17. Solid Cactus Optimized Checkout

  18. Case Study: SAK World Paintball

  19. Conversion Tips 1. Use your return policies to convert visitors to customers 2. Offer multiple payment options to attract more buyers 3. Provide easy access to customer service 4. Offer a toll-free number and make it visible 5. Be your own mystery shopper 6. Make your site secure and make it known 7. Visit your competitors’ sites often 8. Solicit and welcome feedback 9. Offer special discounts and promote them heavily

  20. Summary Survival of the fittest Google Analytics: Provides Opportunities Take prompt measures Know your market

  21. ? Q&A

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