In this lesson, you will learn how to:
- Find the Analytics area inside your Control panel
- Understand each report and what it means
- Learn actionable items based on each report and their values
The most successful business owners can, with confidence, answer the question “how is your business doing?” They know what to measure and how to backup their store’s performance with sufficient, accurate data. Lucky for you, Bigcommerce knows what to measure, how to measure it then wraps it all up with a bow and places it inside of your control panel.
So, let’s hop into your control panel to take a tour of your Bigcommerce Analytics.
Under Analytics in your control panel you’ll find a list of reports. Depending on your Bigcommerce plan, some of these reports may not be available. To gain access, you’ll want to upgrade your plan, but let me explain exactly what you’re getting with each report, first.
Now, the “Store Overview” report gives you a sense of all your store’s key metrics in one place. It’s a great spot to check when you only have a moment to peek in on your business’s performance. You can easily adjust the date range, here, so you can take a look at time frames and make comparison or uncover positive or negative trends.
Below, you can see your total orders, revenue, customers, visits, conversion rate and even your average order value. Take advantage of these informational pop-ups as well.
Any time you see percentages associated with a metric, this indicates the “percentage of change” that occured when compared to the previous time period of same length.
For instance, if you’re looking at a single month, this percentage of change metric is comparing to the month that came before it. As you can imaging, this can serve as a great indicator of how adjustments to your website, promotions, your marketing efforts, and so on are actually performing. THIS is where you want to look to see how your tweaks and adjustments are impacting your business.
Next, is a simple chart that displays the revenue of your business hour by hour, day by day, week by week or in whatever interval makes the most sense to you.
Now, the following two reports do have deeper dives available but again, we’re in the store overview so this is a quick snapshot. You can see your purchase funnel, which gives you a high level view of your conversion points as well as trending information here at the bottom so you can start to identify what’s working and what needs some attention.
Next, is your Abandoned Cart report. This summary shows how much potential revenue you’ve lost, how many carts have been abandoned, the rate in which potential customers are abandoning and your top abandoned products along with how much impact each one could be having on your bottom line. This can be a shocker as over 70% of shopping carts are abandoned on average, this is why the abandoned cart saver comes in so handy.
As you scroll, you’ll notice a top product feed. This is a nice place to see if seasonality or new marketing campaigns are taking effect. Also, it’s always a good idea to place your top sellers on your homepage since that’s likely what shoppers are looking for OR perhaps you want to buy more of that particular piece of inventory OR pivot your business overall. Everyone will use this a little differently.
The last two summaries are a ‘top categories’ report and then a “top visits by origin” summary. This last one will be a favorite for beginners as it shows which channels drive the most traffic to your business so you can start to understand where to spend more time or money on marketing.
The next report in our line-up is the Real Time report where you’ll find revenue, items, orders, visits on a second by second basis.
You’ll also find an activity stream to the right that will give you a sense of where folks are coming from right now. Whether it’s Google or Facebook - you’ll know. Toward the bottom, you’ll see a product stream displaying products being purchased in the moment as well. This report is particularly helpful when launching a merchandising campaign or new promotion -- not only will you see real time revenue impact but you’ll be able to react and optimize campaigns mid-stream for even more return on investment.
Now, the merchandising report is all about diving deeper into your product catalog so you can best understand it’s performance and make major or minor adjustments to both save and make you money. This report provides visibility on all of the categories in your business down to the product level, and if you’re a savvy business owner using SKUs or stock keeping units, you’ll be able to see that your small, red shirt isn’t moving but the large is selling like hotcakes. Naturally, you’ll save money by not buying any more red, small inventory but invest in the larger, red t-shirt so you can sell more! This report helps take your business to the next level.
The Marketing Report might knock your socks off as it delivers total visibility into all of the different marketing activities you’re using to drive traffic to your store, all in one place. No jumping around to Google Analytics and what not. You’ll have the ability to click through each channel and dive deeper into the data and analyze it. This empowers you to understand what marketing channels are working and needs more
investment and which to stop spending precision time and money on.
Your Orders Report provides you with total orders, units sold, revenue, % of orders discounted and average order value for whatever time range you’ve selected. This is great to take a look at when running sales, offering coupons and discounts, running referral programs, anything where you extend a discount. Additionally, you can identify things like whether or not you’re having issues with returns or exchanges.
Below you’ll also see a graph to help uncover trends and even a summary of each order that was discounted so you have a granular understanding and can examine a particular order or even see if a particular product is causing a problem.
Now, the Customer Report is all about understanding what happens once you’ve driven shoppers to your online store. This report will show you exactly where your customers are coming from, the percentage of new versus returning customers (because as we know it costs approximately 5x as much to acquire a new customers vs. keeping a previous customer around) and with any customer in your database. You’ll have access to individual customer profiles, making it a snap for you to understand your customer’s behavior. Down below, you’ll see profiles that detail every order a customer has placed, and every product they’ve purchased. This information will help you to build highly
effective customer loyalty programs that actually work and create tailored marketing campaigns based on customer history so again, you can tap your existing customers rather than constantly spending loads of money to acquire new shoppers. Simply, this report will help you grow your business wisely rather than furiously trying to attract more customers in a competitive landscape.
Next, we have our purchase funnel which shows you, on a granular level, how shoppers are making their way through your store and at what rate they convert during each step of the process. Again, you can set whatever date range you’d like so you can see how many customers visited, looked at a product, put an item in their cart, and completed the checkout process. Below, you’ll see trends over time so you can monitor the adjustments you’ve made on your store to streamline your purchasing experience and how your changes are boosting your store’s conversion rate overall and reducing cart abandonment.
The Abandoned Cart Report is, again, showing how much potential revenue you’ve lost, how many carts have been abandoned, the rate in which potential customers are abandoning and your top abandoned products. Along with how much impact each one could be having on your bottom line. Meanwhile the Abandoned Cart Recovery report will help you in understanding the impact the Abandoned Cart Saver has on your business. You’ll be able to see trends over time and understand how many carts were abandoned, how many carts were recovered and just how much money you’ve recovered with this feature that automatically emails customers.
Yep, you can just set it, forget it, and watch the revenue roll in.
Last but not least, we have the in-store search report. This is referring to the search function located on the top of you store. This feature is all about uncovering you shoppers intent when coming to you store and helping them find what they need quickly, so they can simply make a purchase. Not only will you be provided an overview, but you can locate keywords with results to see what are your most popular items. Keywords without results so you can make repairs or possibly extend your inventory if you’re not carrying something that many folks are interested in.
Plus, you can see both your best...and worst performing keywords.
You can also check out search term corrections that were made by customers so that you can make adjustments to your in-store search settings to better serve shoppers so they turn into buyers.
That’s a lot, but we want to make sure you have all the tools and information you need to help you business grow. Check out our additional resources for more information and pop into our forum at forum.bigcommerce.com to have a discussion or ask a specific question about improving you online store’s performance.