If you are an e-commerce site owner, you are probably already using e-commerce tracking to track sales and product performance data. But if you are not, have you ever thought of using e-commerce tracking for your website? If not, you might want to go through this article where we talk about how e-commerce tracking can be helpful for you, and help boost revenue through your website.
E-commerce tracking gives us reports such as Sales Performance, Product Performance, Transaction & Time to Purchase (the minimum that you get when you implement standard e-commerce tracking) of which Time to Purchase plays a crucial part in understanding landing page performance and user behaviour. You obviously can use various CRO tools to analyse this, but it will be more time consuming.
The ‘Time to Purchase’ report presents data in 2 ways:
- Days to Transaction
- Sessions to Transaction
Days to Transaction data tells us how many days a visitor took to complete a transaction/submit a lead. If most of the users converted on the first day of their visit, it can mean they are finding exactly what they are looking for and head straight through to purchase. On the other hand, if they do not convert on Day 0 (first day of their visit) there are a number of possibilities possibilities – either they are not finding what they are looking for, are searching around for the best available offer by visiting competitor sites, or could be waiting till payday before making their decision.
Similarly, the Sessions to Transaction report shows how many sessions it took users to convert. If they converted on their 1st visit then great, if not you then have to figure out why and make tweaks to improve your website.
There are endless possibilities that you can think of from the data shown by both the reports and analyse the page further using CRO tools to improve the conversion rate and landing page performance. But you can now be sure that you are on the right path. If you are using Goals you don’t get as much information about the users and their conversion behaviour meaning you might not realise that you have a problem until you look at it on another tool.
Another reason to use E-commerce tracking is that Goals will only show one conversion per session. So if users convert more than once during the same session it will only be counted as one goal. Ecommerce reports can show multiple transactions, which could indicate opportunities to optimize your checkout funnel by suggesting products that are usually purchased together, thus move revenue.
And lastly, the Time Lag and Top Conversion Paths report data can indicate which channels get visitors to your site best, and which ones lead to the most conversions. If you start to notice trends in behaviour between channels, you can start to plan your campaigns according to these lag times.