Daily lot of users come to your website, some of them make a purchase and some of them abandon your site without checking out. Both the users enter the website with the intention of making a purchase on your website. But one of them chose to proceed with the check out, the other abandoned. User disengagement is the harsh reality of your online business. No matter what you do to retain your customers sooner or later they will move on. If you constantly send email news letters to your subscribers, you will definitely loose some email subscribers with each new news letter.

With all these things happening, there comes a lot of questions like, what you can do to reduce the shopping cart abandonment? What was their average order value like? Did they spend more money on the website? When is the best time to re-engage with your users? Did they spend more money on the website? What is the rate at which you should acquire new users to maintain your website conversion rate?

Through cohort analysis you get answers to all such questions.

We always talk about user engagement, but we rarely discuss about user disengagement. It is a harsh reality of your online business. Whatever you do to retain your customers sooner or later they will move on. The bigger your subscribers base, more subscribers you are going to loose with each new newsletter. By seeing this pattern over and over again, you will conclude that ‘user churn’ is normal. As the technology is constantly changing, new and powerful competitors’ emergence is just a matter of time and you may end up loosing your customer for good.

You can not completely stop user disengagement from occurring, but you can certainly reduce the disengagement rate. By focusing on this you can effectively reduce your customer attrition and re-engage with them before it is too late. You need to do lot more than re-engage with existing users. You also need to constantly find new users.

It is always good to have returning users to your site, but you need lot more new users and that too all the time because majority of users eventually disengaged from your website and become less profitable over time for no apparent reason. As you loose upto a dozen of subscribers with each news letter, you also gain new subscribers which are 5 to 10 times more than the subscribers.

You not only need to constantly find new ways to re-engage with your existing users, but you should also need a constant flow of new users to compensate for the users lost over time and to maintain your conversion rate. You should not stop acquiring new traffic at any point and become content with the existing with the existing traffic, no matter how much traffic you are currently getting.

All about cohort analysis:

The cohort analysis is all about user disengagement. A cohort is a group of users who showed common characteristics, attributes or experience in a particular time frame. The characteristics of users are time bound because same users can show different characteristics in different time period. All users who visit your website from a particular country belong to the ‘same country’ cohort. Similarly, all users who visit your website for the first time on a particular date like jan 4, 2015 belong to the ‘jan 4, 2015’ cohort. A user can be a member of multiple cohorts at the same time depending upon how you segment and interpret the data.

Cohort analysis report in google analytics:

You actually can analyze your cohort’s behaviour through any google analytics report. But cohort analysis report has been specially developed for analyzing cohort’s behaviour of users is the cohort analysis report. This report is especially useful in understanding the behaviour of different cohorts in response to time sensitive, short term marketing campaigns like Christmas sales, new email campaigns, cyber Monday etc.

Cohort type:

Cohort type is the dimension that characterizes the cohorts. You can select only one type at a time. Consequently through cohort analysis report you can analyse the behaviour of only one type of cohort i.e. the group of users with same acquisition date. Acquisition date is the date when users started their very first session on your website.

Cohort size:

Cohort size is the size of selected cohort. At present only one cohort type is available in the cohort analysis report, which is acquisition date. So, cohort size has been defined only in terms of time frame either by day, by week or by month.

Cohort size by day – all users who were acquired on the same day.

Cohort size by week – all users who were acquired during the same week.

Cohort size by month – all users who were acquired during the same month.

Metrics:

Metrics present in the cohort analysis are divided into three categories. ‘Per user’, ‘Retention’, ‘Total’. Each category contains several metrics. Only ‘Retention’ category contains just one metric called ‘user retention’. User retention is the percentage of users in a cohort who returned in the Nth day, week or month. User retention is the default metric in cohort analysis report and you can only analyse one metric at a time in this report.

Date range:

Date range is the time period for which the cohort data should be displayed. The value of the data range depends upon the ‘cohort size’ selected. If the ‘cohort size’ is ‘by day’ then the value of the ‘data range’ could be set to any one of the following:

1. last 7 days

2. last 14 days

3. last 21 days

4. last 30 days

If cohort size is ‘by month’ then the value of the date range should be set to any one of the following:

1. last month

2. last 2 months

3. last 3 months

Cohort analysis and data sampling issues:

Cohort analysis report suffer from data sampling issues much more than any other google analytics reports especially, when advanced segments are applied to it. If you use advanced segments, they create data sampling issues. The advanced segments can greatly skew your cohort data.

If you are looking out for any help with your business and fix your Google analytics and conversion issues, feel free to contact us at info@librawebsolutions.com. At Libra web solutions we successfully transformed around 80 ecommerce ventures for customers from UK, Australia, India, Hong Kong, Singapore since 2008.

Analytics tools should be the first thing any website owner should install on their website. It’s hard to estimate the part web analytics plays for a website that is created for with a certain goal in mind, especially commercial site. Analytics system has become an indispensable tool for a marketer. It not only provides the data on how many views a specific page or site got, but helps measure how successful are certain marketing campaigns, track visitor’s behaviour on specific pages. In fact, it gathers the necessary data that should be interpreted to get the idea of how things are going with your e-store.

If you are looking for such a tool to improve your ecommerce store, this is for you. Here’s a list of the most popular and trusted analytics tools for ecommerce stores.

1. Google analytics:

It is no surprise that a company like Google has one of the best ecommerce analytics tools on the market. Google analytics is one of the most well known web analytics tools used by website owners from all corners of the globe. Here are some of the features that will help you get every possible insight out of Google analytics.

• Ecommerce tracking helps you know where your most profitable customers comes from.

• You can figure out what you want to track like leads, newsletter signups, page views etc.

• You can have a list of keywords people search on tour site.

• It will protect you from data corruption.

• You can exclude all of your internal traffic to your own site.

Price: It offers a lifetime free package, which allows monitoring a single website / mobile app, adding a trafficking code and researching their audience.

2. KISSmetrics:

KISSmetrics is a powerful tool that provides good information, that will enable you get, keep and grow more customers. Well, this is what a really effective ecommerce analysis tools should be all about. It helps users to understand and appreciate what is going on with their customer’s online behaviour. It also helps you make better decisions on not only layout, but also the marketing of your online store. Take a look at KISSmetrics’s features.

• It is designed for deep data tracking and is most capable of giving you deep insights on how business is going.

• It remembers and stores information of all customers who have at least once associates to your services.

• The information you’ll be provided with will be enough to build steady strategies without involving third party services.

• You can connect KISSmetrics to all applications installed in your software ecosystem.

• It segments data by any point in time and also has a real time data monitoring/ debugging tool.

Price: It offers three pricing packages to meet the needs of different users. The pricing starts from a package of $220/month.

3. Mix panel:

Mixpanel is a business analytics service and company. It tracks user interactions with web and mobile applications and provides tools for targeted communication with customers. Data collected is used to build custom reports and measure user engagement and retention.

Features:

• It goes beyond recording simply page views and reports upon customer engagement and actions within app.

• It enables you to drill down further into analytics and ask more specific questions about customers.

• Through customer segmentation and funnel analysis, it helps to drill down and understand the value of each marketing channel better.

• It measures visitor engagement within a site in real time, tracking visitor movements, views, shares, likes and purchases.

• It also allows you to measure what customers do in your app in to the second real time and compare your metrics from weeks before

Price: The pricing of the mixpanel is usage based. It is free upto 25,000 points/ month, pricing starts $150/month and increases based on the points.

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4. Heap analytics:

Heap automatically captures every user action in your web or mobile app and lets you analyze it retroactively. Clicks, taps, swipes, page views and more with zero code. Retention analysis, funnels, behavioral cohorts instantly answer any question and share reports with your team.

Features:

• Heap helps you identify your users in-depth. You can even tie mobile and web sessions together into a single user identity.

• Every report in heap is real time, so that you don’t need to wait hours or days for insights

• Heap offers powerful data export capabilities if you need to run offline analysis on your underlying clickstream data.

• Heap automatically captures every single event and generate with any number of properties, which you can later modify.

Price: Upto 5000 interactions per month are offered free. Packages are priced by quote.

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5. Crazy egg:

Crazy Egg says that they will let you know why your customers come to your site and why they leave your site. They offer some comprehensive and user friendly graphs which are found to be useful by all the users. Their heat maps are most exciting. They offer information which can be used to examine which areas of your website you need to focus on or simply, which areas your visitors are simply ignoring.

Features:

• The Heatmap report lets you see what people care about on a web page and what they don’t even notice.

• Confetti shows you, with pinpoint accuracy, where people are clicking on your webpage.

• The recordings feature helps you Watch exactly where your visitor’s mouse/finger is going and know which sections are completely avoided.

• Scrollmap can help you determine the ideal landing page length for maximum conversions.

• The Overlay report identifies each clickable element on your webpage as well as the number of clicks. This helps to avoid the elements that are driving your visitors away.

Price: Crazy Egg has four different pricing plans to offer, based on their customer’s requirements. The pricing starts from as low as $9/month.

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6. Woopra:

Woopra is a customer analytics system, which aggregates data about each of your site visitors and displaying it in a compact and convenient way. It profiles individual users, track real-time activity, analyze segments and funnels and automatically display personalized content based on notifications. It mainly focuses on what’s happening on your site rather than the page views, because generally the number of page views doesn’t give you any idea how to create your revenue of your site.

Features:

• It accurately measures total web traffic and present data elegantly.

• Configure and accurately measure an appropriate measure of engagement such as average session length, page views per session, amount of scrolling etc.

• Accurately determines where most people enter your site and where they leave and present data elegantly.

• The software automatically tracks standard user actions and setup custom variables to track any user activity on the site.

• It tracks what proportion of users covert via a certain action.

• Monitors customer actions overall as well as their interactions with different teams within the company, such as support team.

• Tracks load time on different devices and systems

Price: It offers flexible pricing scheme that suits every business type. A free trail is also available and pricing starts from as low as $79.95/month.

Contact us for Ecommerce Mixpanel Analytics Services

7. Piwik:

Piwik is a self hosted or clod based web analytics tracking visitors, engagement, on-site actions, conversions, traffic sources, devices and more. It is open source analytics software that you can download and install on your own server. Piwik’s data is updated in updated in real-time and the dashboard is a bit more user-friendly than Google analytics. It also has some unique features including ecommerce analytics, advanced security measures etc.

Features:

• Roll-up reporting lets you aggregate data from multiple websites, mobile sites into one Roll-up site to gain new insights and save time

• Detailed search engine keywords performance lets you see all the keywords searched by your users on search engines.

• User flow is a visual representation of the most popular paths your users took through your website or app

• Visualise your conversion funnels and understand where your visitors drop off to increase your conversions, sales and revenue with your existing traffic.

• Session recording records all activities on a page of a real visitor such as clicks, mouse movements, scrolls, window resizes, page change and form interactions.

• Heatmaps, scroll maps and clicks of your users are displayed in beautiful overlay heatmap reports.

Price: Piwik is free to download, customize and use. It involves different plans, basic monthly plan starts from $65.

8. Clicky:

Clicky is a user friendly analytics tool. There are couple of third-party wordpress plug-in available for clicky, making it easy to implement and view some stats right from your wordpress dashboard. Clicky gives you real-time stats and even lets you watch visitors actions live. Its dashboard is user-friendly and non-intimidating.

Features:

• With standard per page heat maps, you now get to view real time heat maps for a particular segment of visitors.

• Twitter analytics is a special feature clicky is offering. It gives you a report of your account, website mentions on twitter.

• Segmentation of visitors make it easier to target a particular group of visitors

• It helps in highlighting the strong and weaker areas of your website.

• It has real time monitoring which ensures that you don’t miss out on any updates.

Price: Clicky offers a free basic plan and pricing packages. The pricing packages starts from as low as $9.99/month.

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9. Adobe marketing cloud:

Far from just a PDF reader or flash player running in your background, adobe is also a powerful analytical tool used by ecommerce stores. The three metrics organization, access and personalization are what adobe marketing cloud pride themselves on. You need to have fair bit knowledge in the kitty before you are going to be able to use Adobe marketing cloud effectively.

Features:

• It is a comprehensive marketing solution which enables marketers to measure, personalize and optimize marketing campaigns and digital experiences for optimal marketing performance.

• It supports distributors regardless of the device they’re using with a friendly user interface and well organized features.

• It makes data easily accessible to each agent at anytime, since it doesn’t store data in a single folder.

• AMC can handle cross channel marketing, combine and use data appropriately, programme and draft strategies on different devices and still keep focus on the final user.

Price: The pricing of Adobe marketing cloud programme is available only on quote basis.

10. Retention Grid:

It is one of the most common and popularly used analytics software. The exceptional thing about RetentionGrid is the fact that it provides the data in easy to understand color coded graphs; furthermore, they provide suggestions on how to reach different segments, in other words, what kind of marketing works best as well as which campaigns will have best results depending on who your visitors are.

Features:

• Monitors campaign performance about opens, clicks and revenue which helps you learn what keeps your customer coming back

• Automated lifecycle emails can be triggered based on days since last order or number of orders.

• Monitors revenue from repeat orders over time to track the impact of your retention marketing.

• Segments, filters and downloads email lists that can be used for retargeting with facebook custom audiences and more.

• They have an easy-to-use campaign creator editor which allows you to design, test and send emails to your customers on the fly.

• Proposes recommendation products into your campaigns to catch your customer’s eyes and get them clicked more.

Price: The pricing of RetentionGrid is available only on quote basis.

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Need an advice about choosing one for your business!!! Leave it on us. Libra web solutions is an ecommerce solution specialist who transformed about 80 ecommerce ventures for customers from UK, Australia, India, Hong Kong, Singapore since 2008. Feel free to contact us at info@librawebsolutions.com.

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Every e-commerce business requires an avenue for measuring performance in relation to goals achieved. KPIs are also similar to milestones as they track the progress of your business to check how effective your methods are. If positive feedback is gotten, then you’re doing something right, if not, then you might have to review your methods. Below are 10 key performance indicators for your e-commerce business.

1) Sales:

This can be measured by daily, weekly, monthly or annual sales.

2) Average Size of Orders:

A useful KPI to set is one that monitors the regular number of orders you receive.

3) Cart Abandonment:

This happens often when online shoppers tend to abandon their shopping cart before completing a purchase. The shopping cart abandonment rate needs to be closely monitored if the rate increases then it most likely that there is a fault on your website.

4) Total Visitors Accrued:

You need to have a good idea of the total number of visitors that come to your site.

5) Site Traffic:

The higher the level traffic directed to your website, the better. If the numbers drop, be sure to make a few necessary adjustments.

6) Newsletter Subscribers:

The more people subscribe to your website, the more products you are likely to sell. The number of subscribers also determines those who are interested in your business.

7) Social Media Followers:

Are your social media accounts attracting enough followership? If not, try to change up your content and post interesting news.

8) Blog Views:

If you run a blog alongside your website, it will do a lot of good to have subscribers or regular visitors.

9) Product Reviews:

This is an important KPI which shows customer satisfaction and can in turn attract more customers to purchase your products.

10) Source of Website Traffic:

If you can locate where your traffic is coming from then you know where to target your adverts and promotions.

In conclusion, KPIs are a necessity to your e-commerce business and will help you to keep ahead of any changes or modifications necessary.

At Libra Web Solutions, we are always willing to help. To learn more about how KPIs can effectively boost your ecommerce store, visit us today on our website.

Libra Web Solutions is a reputable Ecommerce solution specialist that has transformed 75+ ecommerce ventures worldwide. Our services include Weekly Web Sales Report Generationand our team of experts are always willing to respond to your business needs with efficiency and quality.