Revenue and total channel revenue reports are among the most critical data for a niche e-commerce company to grow its business. Google Analytics has a powerful suite of revenue reports called ” Enhanced Ecommerce “.
I will review Enhanced Ecommerce in the post. I will give tips to install it and, also, to use it to increase revenue.
The Enhanced E-Commerce Report can be found in menu ” Conversions ” on the left side.
Summary report. This summary report is similar to other Google Analytics summary reports. This is good for quickly monitoring various sales metrics.
Purchasing Behavior and Payment Behavior Reports provide excellent funnels indicating the path to purchase, payment steps and abandonment rates . I've discussed these reports and how to use them in "Using Google Analytics to Identify Conversion Weaknesses."
The Product Performance Report provides extensive data on product sales, product turnover, quantities sold, and so on. The two metrics that are particularly exploitable are the Cart-to-Detail tariff and the Buy-to-Detail rate.
The Sales Performance Report lists all transactions and their corresponding revenues, taxes, shipping charges, and product quantities. This report is useful for finding specific sales and segmenting by channel or another dimension, such as a keyword.
Product Report Performance Report provides useful data, but I will ignore it for this article because it is difficult to set up for a niche eCommerce company. A large merchant can more easily assemble resources for this reporting to work, and use data volumes to make micro-gains in conversions.
Audit Enhanced Ecommerce
It is important to confirm the data in Google Analytics by comparing it to the data in your shopping cart. Here are some tips for auditing enhanced e-commerce reports in Google Analytics.
- Aim for 95% of actual sales when confirming revenue. You will not be 100% dead, but you should be close.
- Make sure your Google Analytics or Google Tag tags are well placed on the order confirmation page so you do not miss any transactions due to slow loading of pages or others scripts slowing or prohibiting tags.
- Make sure offline payments, such as PayPal, report. Offline payments must be redirected to the order confirmation page once payment has been made to enable Google Analytics Ecommerce tags. I tackled it at ” Measuring Offline Sales in Google Analytics. ”
- Make sure all variables are correctly configured by comparing the product's business turnover in the Product Performance report to the total revenue (minus taxes and postage) of the product. report Commercial performance. Also confirm the quantities in both reports. A material difference in one or the other relationship is a starting point for identifying the root cause.
Note that coupons will have an impact on the total income statement. So, by comparing product revenue to total revenue (minus taxes and shipping costs), subtract any discount on the coupons.
- Make sure that duplicate transactions do not affect reports by examining the overview of transactions against a line item. These should align. If transactions are higher in the summary report, this indicates that duplicate transactions are reported.
In the above example, 20 duplicate transactions were reported to Google Analytics: 845 in the Overview report vs. 825 in the sales performance report. That's a pretty small difference (2.4%) in my experience. If it is much higher, take action. Duplicate transactions occur when a person visits the order confirmation page multiple times. Blocking these transactions requires technical expertise. An Authorized Google Analytics Partner can help you.
To increase revenue with the help of Enhanced Ecommerce, focus on the following measures in the product performance report.
- Cart-To-Detail rate. If this value is low, it may be due to a pricing problem or any other item on the product page that results in adding people to the cart. Compare products with low Cart-To-Detail rates with competitors to see if your prices are attractive. For products that do not have competitors, look to add more information on the product page to drive more customers to add to the cart.
- Retail purchase rate. If the Cart-To-Detail rate is good enough, but the Buy-To-Detail rate is low, it can be a combination of product price and shipping costs. shipping resulting in abandonment. For products that others sell, check their total cost (product price and shipping). For products that do not have competitors, look for high shipping rates compared to the price of the product. I tackled shipping rates strategies at the address ” Using Google Analytics to Optimize Shipping Rates “.
Use year-to-year comparisons to monitor results by comparing the following parameters:
- Quantity sold.
- Quantity per channel.
- Cart-To-Detail rate and Buy-To-Detail rate by product.
What statistics have been improved? Who have decreased? Has there been a change in prices or shipping rates that could have affected these changes?
If there is no improvement, start again! For example, I changed the price and shipping an article earlier this year to my Greek e-commerce website. This article has a lot of competition. We have tried to move from a low product price and delivery to a higher price and free shipping. We managed the modified prices for several months and saw sales fall from one year to the next. So we came back.