Good news for online merchants as Google updated its Analytics service to now include Ecommerce data and reporting tools.
The addition to Google Analytics will give merchants and Etailers more precise information on customer behavior and generate reports accordingly.
“Merchants will be able to understand how far along users get in the buying process and where they are dropping off,” stated a Google blog post.
The newly added Ecommerce tool can run reports which give merchants information on how many visitors viewed individual products, added or removed items from shopping carts, and the percentage of abandoned and completed transactions. The tool also gives analytics on conversion rates by product, average order value, as well as being able to track refund activity.
According to Google, merchants can also create custom reports by brand or product category with an added beta feature called Enhanced Ecommerce. In classic Google fashion, the beta feature will be free and roll out in phases to Google Analytics Ecommerce users.
“We’ve identified that our key audience [for Google Analytics] is marketers. They are not programmers but they need data to make decisions. We are investing really heavily in education,” stated Justin Cutron, an Analytics Evangelist at Google.
This information was made available in the past to those who know how to create such reports. The Enhanced Ecommerce feature gives less tech savvy merchants the ability to easily run reports to track on-site promotions, click-through rates on sales banners, reports about revenue and transactions coming through Affiliates , as well as coupon redemption.
“Google Analytics, as a basic structure, is used to answer questions like ‘Where did my traffic come from and where did it go, but for a lot of the actions that happen on a site—you can track them but a lot of people don’t—you had to create special reports. With Enhanced Ecommerce, Google has these reports in there already,” said Director of Marketing at jewelry e-retailer Brian Gavin Diamonds, Danny Gavin.
We have stressed multiple times in the past how important understanding your customers’ psychology is in order to increase conversions. The new set of reports and tools provided by Google in the latest update to Analytics gives merchants an easier way to better comprehend how their customers behave when they visit a merchant’s site.
