systematic approach to analyse your ecommerce data and improve ecommerce business performance

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  1. 1. Systematic approach toanalyse your e-Commercedata and improve eCommercebusiness performanceMarch, 2013Charles Chan, Founder & Managing Director of CLEARgo
  2. 2. What is your number one challenge ingrowing your e-Commerce business?
  3. 3. #1 Challenge is Improving ConversionsN: 457 eCommerce professionals in Australia & New Zealand, US & Canada, UK & Europe and Brazil.Conducted by SLI Systems in November 2012
  4. 4. About CLEARgoCLEARgo is an eCommerce agency in HK & ChinaOur Mission is to deliver eCommerce success for our clientsPLANBUILD GROW E-BusinessOnline Branding, UserPerformance Marketing, CRM &StrategyExperience & TechnologyConversion Optimization
  5. 5. The Power of DataTarget knew about the girls pregnancy before her dad did
  6. 6. What do you want to get out of your data?Sales & Margin Conversion Rate & Customer Acquisition Cost Average Order Value Inventory TurnoverRepeat Customers & Customer Lifetime Value
  7. 7. Organize Your e-Commerce DataTrafficClickstream Customers Transactions InventoryDrivers
  8. 8. KPI & Measurement
  9. 9. What to measure?Revenue & Profit Sales# of OrdersInventory Turnover Ratio Traffic DriversConversionCustomers Cost per VisitConversion Rate Customer Acquisition CostQualified VisitsAverage Order Value Customer Lifetime ValueUnique VisitorsCart Abandonment Rate RFM (Recency, FrequencyChannel Attribution& Monetary)Net Promoter Score
  10. 10. KPI Dashboard
  11. 11. Knowing how you stack up?
  12. 12. Sources for Benchmarking Data IR Asia 500 Guide Google Trends Google Shopping Alexa Quantcast Google Adwords Industry news & blogs Etc.
  13. 13. Benchmark Data (Conversion Rate by Traffic Sources)Conversion Rate Visits Orders ConversionAdwords (Search) 11%4.4% 2.5%Adwords (Content) 6%1.8% 2.0%Natural Search 11%4.4% 2.5%Affiliates 22%4.4% 1.3%Social Media 17%1.8% 0.7%Direct Traffic 11%44%25%Email17%37%14%Shopping Engine 6%1.8% 2.0%Total 100% 100%6.3%Average performance cross all channels 2010-2011Source:
  14. 14. Discovering Actionable Insight
  15. 15. Have you fully utilized Google Analytic? Enable eCommerce tracking &Goal for conversion funnel Use custom variable to tracklogins, coupon codeusage, checkout methods, etc. Use advanced segmentation fordrill down analysis by differentcriteria Use multi-channel funnel forattribution analysis
  16. 16. Digital One-way Mirror
  17. 17. Drilling the data
  18. 18. Test, Test & Test!It should be one of the daily routines for online business
  19. 19. A/B/Multivariate testing is your clinical trial
  20. 20. The Obama 2008 Movement
  21. 21. Variations
  22. 22. Result
  23. 23. Winner 40% Increase in Sign-up Rate = 280,000 volunteer & $60 million donation
  24. 24. Obama 2012 Campaign US$ 250 million raised from online fund raising platform >500 a/b tests 20 month period Increased donation conversion by 49% Increased sign-up rate by 161%
  25. 25. Testing Tips Let go of your ego. Let the data speak for itself! Trust the data, not HiPPO (Highest Paid Persons Opinion) Focus on high conversion triggers Test continuously
  26. 26. eCommerce Optimization FrameworkMEASUREANALYSE TEST BENCHMARK
  27. 27. A Few More Tips
  28. 28. Segment your customers and customize your strategy
  29. 29. Use your data to give better recommendations 35% increase in conversion 14% increase in attributable revenue 16% reduction in click to buy distance(source: Predictive Intent from Emailvision)
  30. 30. Recover the abandoned carts Remarketing campaign Follow-up E-mail
  31. 31. The ToolseCommerce PlatformeCommerce AnalysisClickstream & HeatmapA/B, Multivariate TestingPersonalizedRecommendationsRetargeting &Abandonment Recovery
  32. 32. Key Takeaways Measure, Benchmark & Analyze Test, Test & Test Segment your customers and customize your strategy Use your data to give better recommendations Recover the abandoned carts
  33. 33. THANK YOU This is my contact:Charles Chanfor your time & attention 9470 6088

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