Last updated on June 14th, 2016
The holiday season is the busiest time of year for online retailers. Your website traffic spikes, sales increase and your engagement hits all-time highs. Unfortunately, most retailers are missing out on one of the most important pieces of this holiday rush. Capturing the data.
It may seem overwhelming to think about data needs, especially when 100% of your time is focused on fulfilling orders and launching emails. But if you do not have the right tools in place to capture this ecommerce data now, you’ll never get it back. You may not use it all during your holiday rush, but understanding the trends and behaviors of your customers will set you up for a wildly successful 2016.
So, what types of data should you be looking to gain? Best answer is all of it, but lets break it down into more actionable pieces. The worst part of ‘data’ is that it rarely answers the question of “Now what?”. How are you suppose to read the data, let alone take action on it? That is where a tool like Kevy comes in handy. Our reports and data capturing focuses entirely on answering that question. So rather than spitting out random numbers, we provide actionable insights into your customer behavior patterns.
Lets look at a few examples of ecommerce data you could be capturing this Holiday Season.
Time of Day
We all know it is nearly impossible to change consumer behavior, so why not play in to existing patterns?
Capturing information on the time of day people tend to order can help you plan campaigns to convert more buyers. Rather than sending emails at randomized times in a day, determine when your buyers are most likely online, and plan a promotion or email send at this time.
Take a look at this example. You can see that the majority of this store’s orders are taking place between 1pm-3pm EST. So to increase conversions, send a ‘happy hour’ email at 12:30pm offering 10% off their entire purchase between the hours of 1-3pm. Since they are already shopping, you are simply enhancing their behaviors and your sales will spike.
Day of the week
Email is still the most effective revenue driver for online retailers, but the million dollar question is – what day is the best day to send your emails. Countless studies have been done to show what days are best, but they are far too generic for individual brands to follow. Those studies combine data from thousands of stores and average the findings. But you are different. Your shoppers have their own patterns so you should look at your data rather than data of the masses.
Notice this store, their order peaks are on Mondays. This is not what most email send reports would suggest, and yet, for this customer, Mondays see the highest conversions. If you find a pattern, then provide a discount or a special promotion since you know shoppers are already online and ready to buy.
Do you know who is on your website right now? Think about it – who is browsing, what are they looking at, who is abandoning, who is searching for a sale? The activity of your visitors says a great deal about how well your site is optimized for conversions.
Kevy is capturing every page view and can even show you how long every visitor stays on each page (down to the second). With this data, you can get detailed insights into which pages cause the most bounces.
If you are capturing information like “Last Page Viewed”, you can sort to understand if there is a particular page that causes bouncing. In this instance, you can see dozens are abandoning at the Ankle Strap Sandal page. This is your cue to review the page and understand what is causing visitors to leave. Is there a typo? Broken link? Missing image? Any of these could attribute to an increase in abandonment. Understanding where in the process people abandon will help you convert and engage more of your buyers.
Abandoned Cart Data
Capturing cart data is vital to understanding your store flow and building brand loyalty. Your shopping cart is most likely capturing this information, but it is not useful unless you are able to understand patterns and take action. Kevy gives you insights into how many carts are abandoned, what items are abandoned, and how many people you were able to bring back to complete their purchase.
One of our customers used Kevy to gain insights into how many carts were abandoned. He realized he was leaving thousands on the table every week due to lost carts. But he was curious to know what products were most frequently abandoned so he could optimize pricing and inventory.
He was able to do this because Kevy pulls in a list of every order – abandoned and completed. You can see above, Kevy showcases ‘potential revenue’ which is revenue still left in the cart. If someone completed the order, the order number and contact will be attached. You can even drill into the cart ID to see which items were left behind.
After letting Kevy capture his ecommerce data for a few weeks, he had plenty of information to launch a campaign. Within about 3 weeks he had recovered nearly $16,000 in abandoned revenue from his cart recovery emails.
With access to these insights, you can send more personalized messages to capture the attention of your buyers. Data is powerful, especially when you can take clear action on it. So our expert advice, don’t wait until after the holidays to use a tool like this. This is the busiest time of year for your store, so trust us when we say – the 2016 version of you will be thankful to the you that makes this a priority now.
Ready to begin tracking your store for more powerful marketing? We’re ready to help – just let us know!