Four Business Considerations for Selection of Analytics to Complement Shopify eCommerce!
If your business uses Shopify for eCommerce, you are already well aware of the features and benefits inherent in the software solution. Still, as the eCommerce market explodes, there is a greater need for business strategy and for refining the customer approach in order to remain competitive.
‘To succeed, a business needs easy access to analytics to understand when and how to change pricing, what new products will satisfy customer expectations, how to market a product and how to measure results.’
While many eCommerce solutions include some features to track site traffic and provide other basic information, many Shopify clients are looking to expand analytics and to provide tools for business users so sales staff, marketing teams and others can work with fact-based data to make decisions. Choosing the right analytics solution is imperative. You’ll want something that is easy enough for business users with average skills. Users don’t want to have to learn and use a separate solution and they certainly don’t want to have to learn algorithms and analytics to get the information they need.
Here are four business considerations to include in your review of Shopify analytics solutions:
User-Friendly, Accessible Analytics – Users should have a one-stop entry to Shopify and the analytics solution with seamless login and registration, so they can easily see Shopify eCommerce and leverage prebuilt analytics templates.
Out-of-the-Box Reporting and Templates – The business and its team members will want intuitive, easy-to-use analytics, including appropriate visualization, dynamic charts and graphs, BI tools, and key performance indicators (KPIs) metrics to achieve and sustain a competitive edge. eCommerce dashboards and reports should help users manage business health and identify opportunities to expand and grow eCommerce business with sales reports, sales trends and sales contribution, advanced key performance indicators (KPIs) and analytics to reveal Customer Lifetime value (LTV), Customer Cohorts, Customer Loyalty and Product Cross Sell.
Clear, Fact-Based Reporting to Support Decisions – Dashboards and reports should be intuitive and allow users to dive deep into data, drill down and through data and allow users to interact with data to make data-driven decisions – all without additional training or assistance from IT, business analysts or data scientists.
Affordable, Dependable Solution – Ideally, the business wants to achieve the best results without spending a lot of money, so the solution should be affordable, with flexible pricing plans and stable dependable tools that will allow it to achieve rapid ROI and low TCO.
Shopify eCommerce provides a great foundation for design, development and roll-out and for handoff to the business to keep the site evergreen and growing beyond implementation but, as the business evolves, business managers come to understand the need for, and value of, analytics. Business markets are competitive and an organization can’t just roll-out online shopping or eCommerce and expect to achieve success. To succeed, the business needs easy access to analytics to understand when and how to change pricing, what new products will satisfy a particular customer expectation, how to promote and market a product and, equally importantly, how to measure and manage results to ensure that problems are resolved and that the company can leverage new opportunities.
‘Choosing the right analytics solution is imperative. Users don’t want to have to learn and use a separate solution and they certainly don’t want to have to learn algorithms and analytics to get the information they need.’
Find out how a Shopify Development partner can help your business achieve its goals, and find out how Analytics designed specifically for the Shopify solution can help you to refine your strategy and improve your business results.