eCommerce Insights: how to find them and what to look for

July 21, 2023

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Adimo's Customer Success Director Steph Freemantle shares her wealth of experience on what good eCommerce insights look like and most importantly, how you go about finding them.

In today's fast-paced digital world, eCommerce has become a crucial channel for brands to reach their customers and ultimately drive sales. However, with so many metrics and data points available, it can be an overwhelming minefield to make sense of it all – especially where everyone does it slightly differently. But why are eCommerce insights key to unlocking the full potential of your brand?

What are eCommerce insights?

In short, they are data-driven metrics and analytics that provide invaluable information about your online business performance. They are the key to understanding your customers’ behaviours and preferences. eCommerce insights are also vital to informing strategy and helping you make data-driven decisions about everything from marketing plans to product development. 

Why can eCommerce insights be hard to come by?

Despite the wealth of data available, eCommerce insights can be difficult for brands to obtain – especially if your brand is not suitable for a Direct to Consumer channel. This data can be difficult to get hold of because you:

1. Struggle to properly track and analyse their data
2. Have disparate data sources and lack the necessary tools to bring it all together 
3. Don’t have agreements with the big retailers to access granular performance data

This makes it very hard to get a complete view of the customer journey and to understand how customers interact with your brand across multiple touchpoints. In addition, some brands are unsure of which metrics are the most important to focus on.

What are the most valuable metrics to look at?

Brands have been adapting to the growth of eCommerce over the past few years. Resulting in it becoming increasingly important for brands to track and analyse their eCommerce metrics to ensure they are meeting customer demands and optimising their online sales channels. Here are some of the most important FMCG eCommerce metrics to track:

  • Conversion rate is a crucial metric for all eCommerce businesses. Conversion rate measures the percentage of visitors to your site who complete a desired action, such as making a purchase. By tracking this metric, brands can assess the effectiveness of their online sales channels and identify any areas for improvement. 
  • Average Purchase Lead Value measures the average amount of money spent per purchase intent. This metric is important for brands because it can help them identify opportunities to increase revenue. 
  • Average Basket Size measures the average number of items purchased. This metric is important for FMCG brands because it can help them understand customer behaviour and preferences. 
  • Customer Acquisition Costs measures the cost of acquiring a new customer. For brands, this metric is important because it can help them assess the effectiveness of their marketing strategies and determine whether they are spending too much (and where) to acquire new customers.

Why look at eCommerce insights?

eCommerce insights have the potential to unlock a wide range of benefits for brands:

  • Improve customer experiences: by understanding your customers' behaviour and preferences, you can tailor your marketing and product offerings to meet their needs. This can lead to increased customer engagement and loyalty.
  • Increase revenue: help in identifying opportunities to increase engagement and subsequently purchase leads, you can drive revenue growth.
  • Optimise marketing: using tracking metrics like conversion rate, you can better understand which marketing content, channels and campaigns are most effective at driving sales. This can help you optimise your marketing spend and improve ROI.
  • Inform product development: eCommerce insights can provide valuable feedback on which products are resonating with customers and which ones may need improvement. This can help businesses make more informed decisions about product development and innovation.

eCommerce insights are the key to unlocking the full potential of brands online - insights can be used to improve customer experiences, increase revenue, optimise marketing, and inform product development. However, to truly harness the power of eCommerce insights, brands will benefit from investing in the right tools and expertise to track and analyse their data effectively.

One way to ensure brands fully embrace the power of eCommerce insights, is to invest in the right tools and technology. Implementing a platform like Adimo to track across all your marketing channels, with access to a dedicated and experienced Customer Success Manager who is on hand to interpret the data and provide actionable insights and recommendations.

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